The Global Technology Equity Composite seeks long-term capital appreciation through investments in companies around the world expected to benefit from technological progress.
- 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.
- Typically 40-80 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
|1 YR||3 YR
|Composite Gross %||8.62%||16.17%||17.46%||19.52%|
|Composite Net %||7.87%||15.37%||16.65%||18.70%|
|Excess Return (Gross) %||1.83%||-3.58%||1.42%||4.67%|
|3 MonthsData as of 30-Sep-2019||Year to DateData as of 30-Sep-2019|
|Composite Gross %||-2.82%||21.50%|
|Composite Net %||-2.99%||20.87%|
|Excess Return (Gross) %||-5.55%||-7.21%|
Returns for time periods greater than one year are annualised.
Past performance is not a reliable indicator of future performance.
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.
MSCI index returns are shown with gross dividends reinvested.
Alan Tu is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is president of the Investment Advisory Committee of the Global Technology Equity Strategy. Previously, he was an investment analyst following software companies in the technology sector. Mr. Tu is a vice president and an Investment Advisory Committee member of the U.S. Small Cap Growth and Science & Technology Strategies. He is a vice president of T. Rowe Price Group, Inc.
Mr. Tu has seven years investment experience, five of which have been with T. Rowe Price. He joined the firm in 2014 after serving as a summer intern with T. Rowe Price in 2013, covering broadcast TV companies. Previously, Mr. Tu was an analyst at Ananda Capital Management, where he conducted analyses of small-cap Chinese and U.S. equities, and a valuation associate at Huron Consulting Group.
Mr. Tu earned a B.S., summa cum laude, in business administration from the University of California-Berkeley and an M.B.A., with honors, from the University of Chicago Booth School of Business. Mr. Tu also has earned the Chartered Financial Analyst designation.
- Portfolio manager2019
- Years at5
T. Rowe Price
- Years investment6
Jennifer O'Hara Martin is a global equity portfolio specialist in the U.S. Equity Division of T. Rowe Price. She is a member of the Global Growth Equity, Global Focused Growth Equity, Global Technology Equity, Communications & Technology Equity, Science & Technology Equity, and US Structured Research Equity Strategy teams. Ms. Martin is a vice president of T. Rowe Price Group, Inc.
Ms. Martin has 23 years of investment experience, 14 of which have been at T. Rowe Price. She joined the firm in 2005 as an equity research analyst covering food retailing and discount stores and had portfolio management responsibilities for the firm's US Structured Research Equity Strategy. Prior to joining the firm, she was an equity research analyst at Northern Trust, following telecommunications and business services companies. Ms. Martin was also employed by Merrill Lynch, where she was an investment banking analyst.
Ms. Martin earned a B.S. in agricultural economics from the University of Illinois at Urbana-Champaign and an M.B.A. from Northwestern University, Kellogg School of Management. She presently serves on the Board of Trustees of the Baltimore Museum of Art and as a committee member for the Northwestern University, Kellogg School of Management, Asset Management Practicum.
- Years at14
T. Rowe Price
- Years investment23