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GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. T. Rowe Price has been independently verified for the twenty four-year period ended June 30, 2020, by KPMG LLP. The verification report is available upon request. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis. Verification does not provide assurance on the accuracy of any specific performance report.

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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T. Rowe Price

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Past performance is not a reliable indicator of future performance.

Strategy

Global Technology Equity

The Global Technology Equity Composite seeks long-term capital appreciation through investments in companies around the world expected to benefit from technological progress.

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

Tracking Error
(5 Years)

34.10%
8.94%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

38.57%
0.25

Inception Date 31-Oct-2000

Performance figures calculated in USD

Alan Tu, CFA
Alan Tu, CFA, Portfolio Manager

Alan Tu is the portfolio manager for the Global Technology Equity Strategy in the U.S. Equity Division. He also is chairman of its Investment Advisory Committee. Alan is a vice president and an Investment Advisory Committee member of the US Small-Cap Growth II Equity, Science & Technology Equity, US Large-Cap Core Growth Equity, Communications and Technology Equity, and US Tax-Efficient Multi-Cap Growth Equity Strategies. In addition, he is an Investment Advisory Committee member of the Global Growth Equity Strategy. Alan also is a vice president of T. Rowe Price Group, Inc.

 

Strategy

Investment Approach

  • Seeks long-term growth by investing primarily in the common stocks of companies that generate the majority of revenues from the development, advancement, and use of technology.
  • Stock selection is driven by rigorous research and analysis of companies, sectors, and industry trends.
  • The Strategy invests in the common stocks of technology companies or companies enabled by technology across the entire market capitalization spectrum. We seek companies which can successfully weather economic cycles and deliver sustainable growth through product development and innovation, at a reasonable valuation.
  • While our primary emphasis is on a company’s prospects for future growth, valuation is also an important consideration, particularly when valuation reaches extreme levels.

Portfolio Construction

  • Typically 30-80 stock portfolio
  • Non-U.S. companies typically make up over 20-30% of the portfolio
  • Portfolio consists of highest conviction ideas from a global perspective
  • Diversification across sectors, countries/currencies, and end markets is a risk management tool
  • Bottom-up stock picking is used to capitalize on rapid and extreme changes in technology trends

Sectors

Total
Sectors
12
Largest Sector Software 46.06% Was (30-Jun-2021) 44.89%
Other View complete Sector Diversification

Monthly Data as of 30-Sep-2021

Benchmark: MSCI All Country World Index Information Technology

Top Contributor^

Semiconductors
Net Contribution 0.63%
Sector
0.38%
Selection 0.25%

Top Detractor^

Media & Entertainment
Net Contribution -0.70%
Sector
-1.80%
Selection
1.11%

^Relative

Quarterly Data as of 30-Sep-2021

Largest Overweight

Internet
By27.13%
Portfolio 27.41%
Benchmark 0.29%

Largest Underweight

Hardware
By-21.73%
Portfolio 0.97%
Benchmark 22.70%

Monthly Data as of 30-Sep-2021

Countries

Total
Countries
12
Largest Country United States 72.63% Was (30-Jun-2021) 73.19%
Other View complete Country Diversification

Monthly Data as of 30-Sep-2021

Benchmark: MSCI All Country World Index Information Technology

Largest Overweight

Singapore
By7.80%
Portfolio 7.83%
Benchmark 0.02%

Largest Underweight

Japan
By-4.05%
Portfolio 0.00%
Benchmark 4.05%

Monthly Data as of 30-Sep-2021