The International Value Equity Composite seeks long-term capital appreciation primarily through investment in established companies, in developed markets, with attractive valuations and prospects for improving earnings growth relative to market/sector averages. The strategy generally includes 0-15% exposure to emerging-market stocks, as defined by inclusion in the MSCI Emerging Markets Index.
- Diversified portfolio investing primarily in stocks of non-US companies with favorable growth prospects trading at attractive valuations due to near-term challenges.
- Emphasize attractively valued companies with prospects for improving earnings growth.
- Employ rigorous and comprehensive research to identify and assess investment opportunities.
- Sector, country, and regional allocations are driven by stock selection, as well as consideration of the broader macroeconomic environment.
- Typically 100-120 stock portfolio
- Individual positions typically range from 0.10% to 5.00% — average position size of 0.50%
- Country and sector weights generally range +/- 10% deviation from the benchmark
- Reserves range from 0% to 5%
|1 YR||3 YR
|Composite Gross %||-8.70%||-3.52%||-1.18%||4.79%|
|Composite Net %||-9.25%||-4.10%||-1.77%||4.16%|
|Excess Return (Gross) %||-3.57%||-4.33%||-3.23%||-0.94%|
|3 MonthsData as of 30-Jun-2020||Year to DateData as of 30-Jun-2020|
|Composite Gross %||15.12%||-16.68%|
|Composite Net %||14.96%||-16.94%|
|Excess Return (Gross) %||0.24%||-5.34%|
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.
Index returns shown with reinvestment of dividends after the deduction of withholding taxes.
Munich Re (N)0.55%
Ubisoft Entertainment (E)0.00%
Consumer StaplesNet Contribution 0.57%
EnergyNet Contribution -0.38%
Developed EuropeNet Contribution 0.40%
JapanNet Contribution -0.45%
Pacific Ex Japan
British pound sterling
Colin McQueen is a portfolio manager in the International Equity Division . He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Colin’s investment experience began in 1989, and he has been with T. Rowe Price since 2019, beginning in the International Equity Division, managing the International Value Equity Strategy. Prior to this, Colin was employed by Sanlam Investments (Pty) Ltd (formerly Sanlam FOUR Investments UK Limited) as head of the Global Value team. Colin also was employed by Morgan Stanley Investment Management as head of Global Value Equities and by UBS Global Asset Management as a value portfolio manager, global equities.
Colin earned a B.Sc. in economics from the University of Warwick and an M.Phil. in economics from the University of Cambridge.
- Portfolio manager2019
- Years at1
T. Rowe Price
- Years investment31
Jason A. White is a portfolio specialist in the Equity Division. He is a member of the International Equity Investment team, participates in investment strategy calls, and regularly travels with other investment professionals to visit companies around the world. Jason also is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Jason’s investment experience began in 2001, and he has been with T. Rowe Price since 2004, beginning in the U.S. Equity Division. Prior to this, Jason was employed by State Street Global Advisors as a principal and an investment analyst on the global active equity investment team, where he covered various non-U.S. equity strategies.
Jason earned an A.B. in economics from Kenyon College, an M.Eng. in operations research from Rensselaer Polytechnic Institute, and an M.B.A. in finance from the University of Chicago, Booth School of Business.
- Years at16
T. Rowe Price
- Years investment19