Strategy

Science & Technology Equity

The Science and Technology Equity Composite seeks long-term capital appreciation by investing in companies expected to benefit from the development, advancement, and use of science and/or technology.

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

Tracking Error
(5 Years)

19.85%
5.95%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

27.17%
0.37

Inception Date 31-Dec-1995

Performance figures calculated in USD

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Ken Allen
Ken Allen, Portfolio Manager

Ken Allen is a portfolio manager in the U.S. Equity Division. He is chairman of the Investment Advisory Committee of the Science & Technology Equity Strategy and a vice president and an Investment Advisory Committee member of the US Quantitative U.S., Diversified Mid-Cap Growth Equity, U.S. Mid-Cap Growth Equity, Global Technology Equity, U.S. Large Cap Value Equity and US Quantitative Efficient Strategies  . Ken is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Funds.

 

Strategy

Investment Approach

  • Seeks long-term capital appreciation by investing in companies expected to benefit from the development and use of science or technology, focusing on high-quality business models that have the potential to sustain above-average earnings growth
  • Invests behind key investment themes such as Internet commerce, Internet advertising, cloud computing, and artificial intelligence
  • Bottom-up stock selection is based on rigorous analysis of individual companies, sectors, and industry trends
  • Supported by deep and dedicated analytical resources that span technology, consumer discretionary, communication services, industrials, and healthcare sectors, as well as geographies

Portfolio Construction

  • Typically 50-70 stock portfolio
  • Position size varies based on conviction in the stock, with the top ten holdings generally comprising 35-40% of the portfolio
  • Diversified across sectors that are affected by science and technology, including stocks classified in the technology, consumer discretionary, communication services, industrials, and healthcare sectors
  • Industry allocations are a by-product of our bottom-up stock selection process

Holdings

Total
Holdings
42
Largest Holding Alphabet Class C 9.96% Was (31-Mar-2020) 9.95%
Other View Full Holdings Quarterly data as of 30-Jun-2020
Top 10 Holdings 55.18% View Top 10 Holdings Monthly data as of 30-Jun-2020

Top Purchase

Lam Research (N)
1.37%
Was (31-Mar-2020) 0.00%

Top Sale

Booking Holdings
5.54%
Was (31-Mar-2020) 8.49%

Quarterly Data as of 30-Jun-2020

Sectors

Total
Sectors
N/A

Top Contributor

N/A

Top Detractor

N/A

Team (As of 01-Oct-2020)

Ken Allen

Ken Allen is a portfolio manager in the U.S. Equity Division. He is chairman of the Investment Advisory Committee of the Science & Technology Equity Strategy and a vice president and an Investment Advisory Committee member of the US Quantitative U.S., Diversified Mid-Cap Growth Equity, U.S. Mid-Cap Growth Equity, Global Technology Equity, U.S. Large Cap Value Equity and US Quantitative Efficient Strategies  . Ken is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Funds. 

Ken’s investment experience began in 2000 when he joined T. Rowe Price, beginning in the U.S. Equity Division. 

Ken earned a B.A. in economics from Colby College.

  • Portfolio manager
    since
    2008
  • Years at
    T. Rowe Price
    20
  • Years investment
    experience
    20

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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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