The Financial Services Equity Composite seeks long-term capital appreciation and modest current income through investments in financial services companies primarily in the U.S. across all market capitalizations.
- Invest primarily in U.S. common stocks of companies operating in, and servicing, the financial services industry.
- Employ a bottom-up, fundamental process that leverages T. Rowe Price’s global financial services research platform.
- Top-down portfolio monitoring process is utilized to help manage risk.
- Focus on companies with strong fundamentals and attractive valuations where we have specific insights relative to the market.
- Our long-term investment horizon and contrarian investment style aims to make opportunistic investments that have attractive upside and risk/reward profiles.
- Portfolio of typically 70-90 stocks
- Individual position sizes are generally less than 5% of total assets
- Broadly diversified across financial services industries
- Bottom-up security selection dictates our industry positioning
- Reserves will range from 1% to 3%
|1 YR||3 YR
|Composite Gross %||-11.73%||1.37%||4.51%||10.29%|
|Composite Net %||-12.27%||0.77%||3.88%||9.64%|
|Excess Return (Gross) %||3.57%||4.12%||1.94%||2.33%|
|3 MonthsData as of 30-Jun-2020||Year to DateData as of 30-Jun-2020|
|Composite Gross %||15.41%||-20.66%|
|Composite Net %||15.25%||-20.90%|
|Excess Return (Gross) %||-1.60%||3.08%|
Past performance is not a reliable indicator of future performance.
Returns for time periods greater than one year are annualised.
Gross performance returns are presented before management and all other fees, where applicable, but after trading expenses. Net of fees performance reflects the deduction of the highest applicable management fee that would be charged based on the fee schedule contained within this material, without the benefit of breakpoints. Gross and net performance returns reflect the reinvestment of dividends and are net of all non-reclaimable withholding taxes on dividends, interest income, and capital gains.
Gabe Solomon is the portfolio manager of the Financial Services Equity Strategy in the U.S. Equity Division. He is also the chairman of its Investment Advisory Committee. In addition, he is a vice president and an Investment Advisory Committee member of the US Capital Appreciation, US Dividend Growth Equity, US Growth Stock, US Large-Cap Core Equity, US Large-Cap Value Equity, and US Mid-Cap Value Equity Strategies. He also is an Investment Advisory Committee member of the Global Focused Growth Equity, Global Growth Equity, and Global Value Equity Strategies. Gabe is a vice president of T. Rowe Price Group, Inc.
Gabe’s investment experience began in 2002, and he has been with T. Rowe Price since 2004, beginning as a research analyst in the U.S. Equity Division. Prior to this, Gabe was employed by Wellington Management Company, LLP, as an equity analyst intern covering Indian information technology services companies. He also was a management consultant at Sibson Consulting Group.
Gabe earned a B.A., summa cum laude, in economics from the University of California, Los Angeles (UCLA), where he was a UCLA Regents Scholar and a member of Phi Beta Kappa. He also earned an M.B.A. in finance and accounting from the University of Pennsylvania, The Wharton School, where he was head fellow for the Wharton Investment Management Fund, a student-run small-cap value portfolio.
- Portfolio manager2014
- Years at16
T. Rowe Price
- Years investment18