The US Multi-Cap Growth Equity Composite seeks to provide long-term growth of capital by investing primarily in the common stocks of companies operating in sectors T. Rowe Price believes will be the fastest growing in the United States.
- Bottom up portfolio emphasizing fundamental research.
- Identify companies that are market share gainers or leaders in attractive growth industries.
- Think independently and be skeptical of herd mentality - not benchmark focused.
- Focus on growth companies with favorable company fundamentals, such as a strong balance sheet, sound business strategy, and promising competitive positioning.
- Manage risk by having a high quality bias with reasonable valuations while being broadly diversified.
- The portfolio may entail above-average risk since growth companies pay few dividends and are typically more volatile than slower-growing companies with high dividends. Diversification cannot assure a profit or protect against loss in a declining market.
- Typically 85-100 stock portfolio
- U.S. centric, maximum international is 15% and historically below 5%
- Initial purchase size will range from 0.25%-0.50%; full position size typically ranges between 0.50% and 3.00%
|1 YR||3 YR
|Composite Gross %||25.56%||20.85%||17.44%||18.49%|
|Composite Net %||24.89%||20.19%||16.81%||17.85%|
|Excess Return (Gross) %||2.28%||1.86%||1.55%||1.26%|
|3 MonthsData as of 30-Jun-2020||Year to DateData as of 30-Jun-2020|
|Composite Gross %||30.86%||12.97%|
|Composite Net %||30.69%||12.66%|
|Excess Return (Gross) %||3.02%||3.16%|
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.
CME Group (N)1.03%
Information TechnologyNet Contribution 1.71%
UtilitiesNet Contribution -0.73%
Justin White is the portfolio manager of the US Multi-Cap Growth Equity Strategy, including the New America Growth Fund, in the U.S. Equity Division. He is chairman of the Investment Advisory Committee of the US Multi-Cap Growth Equity Strategy and a vice president and an Investment Advisory Committee member of the US Large-Cap Core Equity, US Structured Research Equity, US Growth Stock, US Large-Cap Core Growth Equity, US Mid-Cap Growth Equity, US Mid-Cap Value Equity, and Communications and Technology Equity Strategies. Justin also is a vice president of T. Rowe Price Group, Inc.
Justin has been with T. Rowe Price since 2008, beginning as an analyst, covering internet infrastructure companies and cable/satellite and U.S. telecom companies, in the U.S. Equity Division. Justin also was an equity summer intern with the firm in 2007. Prior to T. Rowe Price, he was a senior analyst at the Analysis Group in Washington, D.C.
Justin earned an A.B., magna cum laude, in applied mathematics and economics from Dartmouth College and an M.B.A., with highest distinction, from Dartmouth College, Tuck School of Business, where he was a member of Phi Beta Kappa and an Edward Tuck Scholar. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Portfolio manager2016
- Years at12
T. Rowe Price
- Years investment12
Craig Watson is a portfolio specialist in the U.S. Equity Division. He is a member of the U.S. Large-Cap Growth team, working closely with institutional clients, consultants, and prospects. Craig also is a vice president of T. Rowe Price Group, Inc., and a trustee on the T. Rowe Price Foundation, Inc.
Craig’s investment experience began in 1995, and he has been with T. Rowe Price since 2007, beginning in the U.S. Equity Division. Prior to this, Craig was employed by HSBC Securities as a senior vice president of global equity sales and by UBS as the director of institutional equity sales.
Craig earned a B.S., magna cum laude, in accounting from Hampton University and an M.B.A. from the University of Pennsylvania, The Wharton School. He is a certified public accountant.
FA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Years at13
T. Rowe Price
- Years investment13