Past performance is not a reliable indicator of future performance.
Strategy
Global Focused Growth Equity
The Global Focused Growth Equity Composite seeks long-term capital appreciation primarily through investment in established companies operating in developed markets throughout the world, with faster earnings growth and reasonable valuation levels relative to market/sector averages. Further, the strategy seeks to buy companies where there is insight about improving economic returns of the business that are not fully reflected in their valuation.
3YR Return Annualised (Net)
(View Total Returns)
Tracking Error
(5 Years)
24.07%
6.27%
1YR Return (Net)
(View Total Returns)
Information Ratio
(5 Years)
30.15%
1.55
Inception Date 31-Jan-1996
Performance figures calculated in USD
Strategy
Investment Approach
- 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 stocks across all capitalizations, incorporating developed and emerging markets.
Portfolio Construction
- Number of holdings: typically 60-80 stocks
- Individual positions: Typically 0.5%-5.0%
- Emerging markets exposure: +/-15% of benchmark
- Broad sector ranges: +/-15% 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%, maximum 10%
- Expected tracking error: 400 to 800 basis points
- Primary benchmark is MSCI AC World Index and secondary benchmark is MSCI World Index.
Regions
Total
Regions
5
Largest Region North America 57.61%
Was (30-Jun-2021)
58.27%
Other
View complete Region Diversification
Top Contributor^
Pacific ex Japan
Net Contribution 0.75%
Region
0.18%
Selection
0.58%
Top Detractor^
Latin America
Net Contribution -0.72%
Region
-0.05%
Selection
-0.67%
Largest Overweight
Europe
By4.18%
Portfolio
21.34%
Benchmark
17.15%
Largest Underweight
North America
By-4.57%
Portfolio
57.61%
Benchmark
62.17%
Countries
Total
Countries
18
Largest Country United States 56.66%
Was (30-Jun-2021)
57.20%
Other
View complete Country Diversification
Largest Overweight
United Kingdom
By5.95%
Portfolio
9.65%
Benchmark
3.70%
Largest Underweight
United States
By-2.67%
Portfolio
56.66%
Benchmark
59.33%
David Eiswert is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is the portfolio manager for the Global Focused Growth Equity Strategy, a role he has held since October 1, 2012. Prior to his current role, Mr. Eiswert was the portfolio manager for the Global Technology Strategy from October 2008 until May 2012. He was a technology analyst from 2003 until 2012. Mr. Eiswert is a vice president of T. Rowe Price Group, Inc.