The US Dividend Growth Equity Composite seeks to provide a growing level of dividend income, long-term capital appreciation and a reasonable level of current income.
- We seek to provide a growing level of dividend income, long-term capital appreciation, and a reasonable level of current income.
- The strategy will normally invest 65% of total assets in common stocks of dividend-paying companies that we expect to increase their dividends over time and also provide long-term capital appreciation.
- The strategy employs a conservative, growth-at-a-discount investment approach with an emphasis on dividend growth. We identify companies with a sustainable competitive advantage that are likely to show consistent growth of earnings and dividends.
- We particularly favor companies that generate excess cash flow with attractive valuations and solid cash flow to support future dividend increases.
- Constructed from the bottom up
- Maintains a broad diversification and managing position sizes to control our risk profile
- Typically holds 100-125 names in the portfolio
- Position sizes that range from 0.25% to 5.00%
- Maintains broad sector diversification and typically holds sector positions that are 0.5x to 2.0x the weight of the S&P 500 Index’s sectors
- Portfolio turnover ranges from 10%-30%.
|1 YR||3 YR
|Composite Gross %||3.66%||10.74%||11.15%||14.22%|
|Composite Net %||3.15%||10.19%||10.60%||13.65%|
|Excess Return (Gross) %||-3.85%||0.01%||0.42%||0.23%|
|3 MonthsData as of 30-Jun-2020||Year to DateData as of 30-Jun-2020|
|Composite Gross %||16.06%||-5.42%|
|Composite Net %||15.92%||-5.66%|
|Excess Return (Gross) %||-4.48%||-2.34%|
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.
U.S. Bancorp (E)0.00%
Industrials & Business Services
Tom Huber is the portfolio manager of the US Dividend Growth Equity Strategy in the U.S. Equity Division. He also is the chairman of the Investment Advisory Committee of the US Dividend Growth Equity Strategy and an Investment Advisory Committee member of the US Large-Cap Core Growth Equity and US Real Estate Equity Strategies. Tom is a vice president of T. Rowe Price Group, Inc.
Tom’s investment experience began in 1993, and he has been with T. Rowe Price since 1994, beginning in the U.S. Equity Division. Before assuming his current role, he was an equity analyst specializing in leisure, food and drug retail, and specialty retail. Prior to T. Rowe Price, Tom was employed by Robert W. Baird as an assistant vice president managing initial public offering and merger and acquisition activity. Tom also was employed by NationsBank Corporation (now Bank of America) as a credit analyst and corporate banking relationship manager.
Tom earned a B.S. in finance from the University of Virginia and an M.S. in finance from the University of Wisconsin-Madison, School of Business, within the applied security analysis and portfolio management program. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Portfolio manager2000
- Years at26
T. Rowe Price
- Years investment27
William D. Nolan is a portfolio specialist in the U.S. Equity Division of T. Rowe Price. He acts as a proxy for equity portfolio managers with institutional clients, consultants, and prospects. Mr. Nolan supports T. Rowe Price's large-cap value strategies, focusing on the US Large-Cap Equity Income and US Value Equity Strategies. He is a vice president of T. Rowe Price Associates, Inc.
Mr. Nolan has 26 years of investment experience. Before joining the firm, he was most recently a managing director of institutional equity sales for Wachovia Corporation where he also served as director of institutional research marketing. Prior to this, Mr. Nolan was director of equity institutional sales for Alex Brown and was the Washington, D.C., branch manager in the National Accounts Division of IBM.
Mr. Nolan earned a B.S. in social and behavioral sciences from Johns Hopkins University.
- Years at11
T. Rowe Price
- Years investment29