Strategy

QM Global Equity

The QM Global Equity Composite seeks long-term capital appreciation primarily through investment in a diversified portfolio of companies on the world’s stock markets. The portfolio may include investments in securities of companies listed on the stock exchange of developed and developing countries. The strategy applies quantitative and active management techniques to achieve its investment objectives.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(3 Years)

7.74%
1.49%

1YR Return (Net)
(View Total Returns)

Information Ratio
(3 Years)

11.36%
0.40

Inception Date 30-Apr-2016

Performance figures calculated in USD

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Farris G. Shuggi, CFA
Farris G. Shuggi, CFA, Portfolio Manager

Farris Shuggi is the portfolio manager of the QM US Value Equity Strategy in the U.S. Equity Division. He is the chairman of the Investment Advisory Committee of the QM US Value Equity Strategy and an Investment Advisory Committee member of the Quantitative Management Strategies and the US Capital Appreciation, US Large-Cap Equity Income, and US Diversified Small-Cap Value Strategies. Farris also is a vice president of T. Rowe Price Group, Inc.

 

Strategy

Investment Approach

  • A structured portfolio management process that employs proprietary, quantitative models developed by T. Rowe Price that use fundamental metrics to rank and screen securities.
  • Investment approach favors stocks featuring a combination of relatively inexpensive valuations, strong profitability, evidence of prudent capital allocation, and price trends that indicate positive market recognition.
  • Quantitative models are monitored and security selection results are reviewed for qualitative factors, portfolio risk characteristics, sector weightings and macroeconomic factors in the process of portfolio construction.
  • Broad range of stocks across all capitalizations, incorporating developed and emerging markets, with a quality and a lower absolute risk profile than the MSCI AC World Index at most times.
  • Employs risk models provided by T. Rowe Price’s enterprise risk group and uses analytics developed by the quantitative equity team to monitor portfolio risk.
  • Relying on quantitative models entails the risk that the models themselves may be limited or incorrect, that the data that the models rely on may be incorrect or incomplete, and that the adviser may not be successful in selecting companies for investment or determining the weighting of particular stocks

Portfolio Construction

  • Number of holdings: typically 350-375
  • Individual position size is a function of each stock’s expected outperformance, risk profile, and quality characteristics.
  • Emerging markets exposure: Up to 20%
  • Sector/Region Bets: +/-2% of benchmark
  • Cash target range: Typically less than 1%.

Holdings

Total
Holdings
311
Largest Holding Apple 4.38% Was (30-Jun-2020) 3.82%
Other View Full Holdings Quarterly data as of 30-Sep-2020
Top 10 Holdings 19.99% View Top 10 Holdings Monthly data as of 30-Sep-2020

Top Purchase

NVIDIA (N)
0.75%
Was (30-Jun-2020) 0.00%

Top Sale

Intel (E)
0.00%
Was (30-Jun-2020) 0.52%

Quarterly Data as of 30-Sep-2020

Sectors

Total
Sectors
11
Largest Sector Information Technology 21.52% Was (30-Jun-2020) 20.84%
Other View complete Sector Diversification

Monthly Data as of 30-Sep-2020

Benchmark: MSCI All Country World Index

Largest Overweight

Industrials & Business Services
By0.71%
Portfolio 10.31%
Benchmark 9.60%

Largest Underweight

Communication Services
By-0.90%
Portfolio 8.42%
Benchmark 9.32%

Monthly Data as of 30-Sep-2020

Team (As of 01-Oct-2020)

Farris G. Shuggi, CFA

Farris Shuggi is the portfolio manager of the QM US Value Equity Strategy in the U.S. Equity Division. He is the chairman of the Investment Advisory Committee of the QM US Value Equity Strategy and an Investment Advisory Committee member of the Quantitative Management Strategies and the US Capital Appreciation, US Large-Cap Equity Income, and US Diversified Small-Cap Value Strategies. Farris also is a vice president of T. Rowe Price Group, Inc.

Farris has been with T. Rowe Price since 2008, beginning in the quantitative area of the U.S. Equity Division. Prior to his current position, he was a quantitative analyst in the Equity Quantitative Research Group, focusing on developing security selection models.

Farris earned a B.S. in financial economics and an M.A. in economic policy analysis from the University of Maryland Baltimore County and an M.A. in economics and an M.S. in finance from Washington University in St. Louis. He also has earned the Chartered Financial Analyst® designation.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Portfolio manager
    since
    2020
  • Years at
    T. Rowe Price
    12
  • Years investment
    experience
    12

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GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®). TRP has been independently verified for the twenty one- year period ended June 30, 2017 by KPMG LLP. The verification report is available upon request. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation.

TRP is a U.S. investment management firm with various investment advisers registered with the U.S. Securities and Exchange Commission, the U.K. Financial Conduct Authority, and other regulatory bodies in various countries and holds itself out as such to potential clients for GIPS purposes. TRP further defines itself under GIPS as a discretionary investment manager providing services primarily to institutional clients with regard to various mandates, which include U.S, international, and global strategies but excluding the services of the Private Asset Management group.

A complete list and description of all of the Firm's composites and/or a presentation that adheres to the GIPS® standards are available upon request. Additional information regarding the firm's policies and procedures for calculating and reporting performance results is available upon request

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