The US Smaller Companies Equity Composite seeks long-term capital growth primarily through investment in stocks of smaller U.S. companies (small and mid-cap) believed to offer growth potential or be under-valued.
- Focus on companies within the market cap range of the Russell 2500 Index at time of purchase.
- Assess valuation using relevant sector/industry metrics — absolute and relative price to earnings, price to cash flow, and price to assets.
- Integrate fundamental research by a dedicated Small-Cap research team to discover underfollowed companies possessing clear business plans, financial flexibility, and proven management teams.
- Identification of a “value creation” catalyst is key.
- Broadly diversify holdings to manage portfolio risk profile.
- Employ a low turnover and patient trading strategy to promote full value realization.
- Typically 200-250 securities
- Position sizes typically range from 0.15% to 2.50%
- Primary sector weights generally vary from 0.5X to 2.0X the Russell 2500 Index weights
|1 YR||3 YR
|Composite Gross %||13.85%||16.62%||12.11%||17.89%|
|Composite Net %||13.01%||15.75%||11.28%||17.02%|
|Excess Return (Gross) %||12.55%||4.78%||4.92%||3.94%|
|3 MonthsData as of 30-Jun-2019||Year to DateData as of 30-Jun-2019|
|Composite Gross %||6.86%||26.94%|
|Composite Net %||6.66%||26.49%|
|Excess Return (Gross) %||4.02%||7.97%|
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.
Effective 1 June 2019, the benchmark for the composite changed from gross- to net- of withholding taxes. The change was made because the firm viewed the new benchmark to be more consistent with the tax impacts of the portfolios in the composite. Historical benchmark representations have been restated.
CenterState Bank (N)0.74%
SS&C Technologies Holdings0.91%
Consumer DiscretionaryNet Contribution 0.78%
Curt Organt is the portfolio manager of the US Smaller Companies Equity Strategy in the U.S. Equity Division of T. Rowe Price. Previously, he was an associate portfolio manager of the US Small-Cap Core Equity Strategy. Mr. Organt is a vice president and Investment Advisory Committee member of the Small-Cap Stock, Small-Cap Value, Global Industrials, and Small-Cap Growth II Strategies. Mr. Organt is a vice president of T. Rowe Price Group, Inc.
Mr. Organt has 27 years of investment experience, 23 of which have been with T. Rowe Price. Prior to joining the firm in 1995, he was a financial analyst and a marketing analyst at DAP Products, Inc.
Mr. Organt earned a B.S. in finance and philosophy from La Salle University and an M.B.A. from Wake Forest University. He also has earned the Chartered Financial Analyst designation.
- Portfolio manager2019
- Years at23
T. Rowe Price
- Years investment27
Eric Papesh is a portfolio specialist in the U.S. Equity Division of T. Rowe Price. He is based in London and serves as a proxy for equity portfolio managers with institutional clients, consultants and prospects. Mr. Papesh supports T. Rowe Price's US Smaller Companies Equity and US Large-Cap Equity Strategies offered in the Europe, Middle East and Africa (EMEA) and Asia-Pacific (APAC) regions. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.
Mr. Papesh has 22 years of financial services experience, two of which have been with T. Rowe Price. Before joining the firm in 2014, he was a senior research analyst with Russell Investments, where he focused on US equity investment strategies.
Mr. Papesh earned a B.A. in business administration and an M.B.A. from the University of Washington. He has also earned the Chartered Financial Analyst designation.
- Years at4
T. Rowe Price
- Years investment24