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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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Past performance is not a reliable indicator of future performance.

Strategy

Global Growth Equity

The Global Growth Equity Composite seeks long-term capital appreciation by investing primarily in a diversified portfolio of transferable equity and equity-related securities of larger cap companies listed on the world's stock markets. The portfolio may include investments in the securities of companies listed on the stock exchange of developed and developing countries.

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

Tracking Error
(5 Years)

22.18%
5.30%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

29.54%
1.37

Inception Date 31-Oct-2008

Performance figures calculated in USD

Scott Berg
Scott Berg, Portfolio Manager

Scott Berg is the portfolio manager for the T. Rowe Price Global Growth Equity Strategy and a vice president of T. Rowe Price Group, Inc.

 

Strategy

Investment Approach

  • Single decision-maker provides clear accountability.
  • Identify “best ideas” by assessing companies in a global sector context, using bottom-up approach to create focused, high-conviction portfolio.
  • Global research platform uses fundamental analysis to identify companies with superior and sustainable growth prospects and improving fundamentals.
  • Macroeconomic and local market factors are integrated in stock selection decisions.
  • Valuation appeal is measured against local market and broad sector opportunity set.
  • Broad range of large-cap stocks, incorporating developed and emerging markets.

Portfolio Construction

  • Number of holdings: Typically around 150 holdings.
  • Individual positions: Typically 0.3%-3.0%, maximum 5%
  • Emerging markets exposure: +/- 15% of benchmark
  • Broad sector ranges: +/- 10% of benchmark
  • Country ranges: +/- 10% of benchmark (USA is +/- 20%)
  • Currency hedging: Currency views incorporated in stock selection
  • Cash target range: Typically less than 5%
  • Expected tracking error: 300 to 700 basis points
  • Primary benchmark is MSCI All Country World Index

Sectors

Total
Sectors
11
Largest Sector Information Technology 22.94% Was (30-Jun-2021) 22.30%
Other View complete Sector Diversification

Monthly Data as of 30-Sep-2021

Benchmark: MSCI All Country World Index

Top Contributor^

Health Care
Net Contribution 0.49%
Sector
0.02%
Selection 0.47%

Top Detractor^

Consumer Discretionary
Net Contribution -1.98%
Sector
-0.14%
Selection
-1.84%

^Relative

Quarterly Data as of 30-Sep-2021

Largest Overweight

Consumer Discretionary
By5.78%
Portfolio 18.16%
Benchmark 12.39%

Largest Underweight

Energy
By-3.49%
Portfolio 0.03%
Benchmark 3.52%

Monthly Data as of 30-Sep-2021

Regions

Total
Regions
6
Largest Region North America 57.15% Was (30-Jun-2021) 57.69%
Other View complete Region Diversification

Monthly Data as of 30-Sep-2021

Benchmark: MSCI All Country World Index

Top Contributor^

United States
Net Contribution 0.24%
Region
-0.08%
Selection 0.33%

Top Detractor^

EM EMEA
Net Contribution -0.32%
Region
-0.07%
Selection
-0.25%

^Relative

Quarterly Data as of 30-Sep-2021

Largest Overweight

Pacific Ex Japan
By5.63%
Portfolio 17.91%
Benchmark 12.28%

Largest Underweight

North America
By-5.03%
Portfolio 57.15%
Benchmark 62.17%

Monthly Data as of 30-Sep-2021

Countries

Total
Countries
29
Largest Country United States 55.33% Was (30-Jun-2021) 55.72%
Other View complete Country Diversification

Monthly Data as of 30-Sep-2021

Benchmark: MSCI All Country World Index

Largest Overweight

India
By4.19%
Portfolio 5.65%
Benchmark 1.46%

Largest Underweight

Japan
By-4.06%
Portfolio 2.13%
Benchmark 6.20%

Monthly Data as of 30-Sep-2021