High-conviction, global equity portfolio targeting companies throughout the world.
Investment ObjectiveThe fund’s objective is to provide long-term capital appreciation by investing primarily in a portfolio of securities of companies which are traded, listed or due to be listed, on recognised exchanges and/or markets throughout the world. The portfolio may include investments in the securities of companies traded, listed or due to be listed, on recognised exchanges and/or markets of developing countries.
- Single decision maker provides clear accountability.
- Identify "best ideas" by assessing companies in a global sector context, using bottom-up approach to create focused, high-conviction portfolio.
- Global research platform uses fundamental analysis to identify companies with superior and sustainable growth prospects, and improving fundamentals.
- Macroeconomic and local market factors are integrated in stock selection decisions.
- Valuation appeal is measured against local market and broad sector opportunity set.
- Broad range of large-cap stocks, incorporating developed and emerging markets.
- Number of holdings: Typically around 90-145 holdings.
- Individual positions: Typically 0.3%-3.0%, maximum 5%.
- Emerging markets exposure: +/- 15% of benchmark.
- Broad sector ranges: +/- 10% of benchmark.
- Country ranges: +/- 10% of benchmark (USA is +/- 20%).
- Currency hedging: Currency views incorporated in stock selection.
- Cash target range: Typically less than 5%.
- Expected tracking error: 300 to 700 basis points.
|1 YR||3 YR
|Since Manager Inception
|Excess Return %||2.54%||9.19%||6.79%||3.83%||N/A|
|1 YR||3 YR
|Excess Return %||2.54%||9.19%||6.79%||3.83%|
|Month to DateData as of 22-Oct-2021||Quarter to DateData as of 22-Oct-2021||Year to DateData as of 22-Oct-2021||1 MonthData as of 30-Sep-2021||3 MonthsData as of 30-Sep-2021|
|Excess Return %||-0.45%||-0.45%||-1.19%||-0.99%||-0.60%|
Past performance is not a reliable indicator of future performance.
Source for performance: T Rowe Price. Net of fees performance is based on end of month redemption prices after the deduction of fees and expenses and the reinvestment of all distributions. Figures include changes in principal value. Investment return and principal value will vary, and an account may be worth more or less at termination than at inception. For further details, please refer to the fund's product disclosure statement and reference guide which are available from Equity Trustees or TRPAU.
Daily performance (MTD, QTD, and YTD) data is based on the latest available NAV minus one business day.
Effective 1 June 2019, the "net" version of the benchmark replaced the "gross" version of the benchmark. The "net" version of the benchmark assumes the reinvestment of dividends after the deduction of withholding taxes applicable to the country where the dividend is paid; as such, the returns of the new benchmark are more representative of the returns experienced by investors in foreign issuers. Historical benchmark performance has been restated accordingly.
Returns for time periods greater than one year are annualised.
Fund performance is shown in I Class.
Largest Top Contributor^
Largest Top Detractor^
Alibaba Group Holding
Health CareNet Contribution 0.50%
Consumer DiscretionaryNet Contribution -1.97%
Scott Berg is the portfolio manager for the T. Rowe Price Global Growth Equity Strategy and a vice president of T. Rowe Price Group, Inc.
Mr. Berg has 17 years of investment experience, all of which have been with T. Rowe Price. He joined the firm in 2002 as a research analyst covering the business services sector after serving as a summer intern in 2001. In 2005, he joined the global equity team as an associate portfolio manager and in 2008 launched the Global Growth Equity Strategy. Prior to T. Rowe Price, he was the manager of financial analysis and planning for Mead Consumer and Office Products. Previously, Mr. Berg was also employed by McKinsey & Company as a business analyst and was a core team member on the firm's global growth initiative.
Mr. Berg graduated first in his class from Macquarie University in Australia, with a B.Ec. in actuarial studies and finance. He also holds an M.B.A. from the Stanford Graduate School of Business, where he again graduated at the top of his class. Mr. Berg has earned the Chartered Financial Analyst designation.
- Fund manager2008
- Years at19
T. Rowe Price
- Years investment19
Samuel Ruiz is a portfolio specialist in the Equity Division. He is a vice president of T. Rowe Price Australia Ltd.
Sam’s investment experience began in 2008, and he has been with T. Rowe Price since 2020, beginning in the Equity Division working on the Global and Australia Equity Strategies. Prior to this, Sam was employed by Macquarie Investment Management in the area of strategy in the Equities Division.
Sam earned a bachelor of applied finance degree from the University of South Australia.
- Years at1
T. Rowe Price
- Years investment13
|APIR||Minimum Initial Investment (AUD)||Minimum Subsequent Investment (AUD)||Buy/Sell Spread||Management Fees|
|ETL0071AU||$500,000||$100,000||Buy +0.25%/ Sell -0.20%||0.94% pa|