Past performance is not a reliable indicator of future performance.

Strategy

Global Natural Resources Equity

The Global Natural Resources Equity Composite seeks long-term capital appreciation primarily through investment in natural resource companies with potential for earnings growth greater than the rate of inflation.

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

Tracking Error
(5 Years)

-5.40%
5.27%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-12.59%
0.38

Inception Date 30-Jun-1981

Performance figures calculated in USD

Other Literature

Shawn T.  Driscoll
Shawn T. Driscoll, Portfolio Manager

Shawn Driscoll is the portfolio manager of the Global Natural Resources Equity Strategy, including the New Era Fund, in the U.S. Equity Division. He is chairman of the Investment Advisory Committee of the Global Natural Resources Equity Strategy and a vice president and an Investment Advisory Committee member of the US Capital Appreciation, US Large-Cap Core Equity, US Growth Stock, US Large-Cap Core Equity, US Mid-Cap Growth Equity, US Multi-Cap Growth Equity, and Real Assets Equity Strategies. Shawn also is a vice president of T. Rowe Price Group, Inc.

 

Strategy

Investment Approach

  • Focus on well-managed companies that own or develop natural resources and other basic commodities with attractive long-term supply-demand fundamentals.
  • Invest in companies that operate “downstream” from these resources, e.g., refining, paper manufacturing, steel fabrication, and petrochemicals.
  • The portfolio invests in resource companies on a global basis including international energy, forest products, mining, and commodities.
  • Assessment of resource/commodity cycle, industry valuation, and company fundamentals is key.
  • Broadly diversify holdings to manage portfolio risk profile relative to highly concentrated energy or gold strategies.

Portfolio Construction

  • Typically 90-120 securities
  • Positions typically less than 5%
  • Fully invested; reserves typically less than 5%

Holdings

Total
Holdings
115
Largest Holding Total 3.74% Was (30-Jun-2020) 4.39%
Other View Full Holdings Quarterly data as of 30-Sep-2020
Top 10 Holdings 24.07% View Top 10 Holdings Monthly data as of 30-Sep-2020

Top Purchase

Air Liquide (N)
1.35%
Was (30-Jun-2020) 0%

Top Sale

Linde
2.43%
Was (30-Jun-2020) 2.98%

Quarterly Data as of 30-Sep-2020

Sectors

Total
Sectors
9
Largest Sector Chemicals 20.41% Was (30-Jun-2020) 19.03%
Other View complete Sector Diversification

Monthly Data as of 30-Sep-2020

Benchmark: MSCI World Select Natural Resources Index

Largest Overweight

Other
By7.06%
Portfolio 10.29%
Benchmark 3.23%

Largest Underweight

Energy Services & Processors
By-14.73%
Portfolio 8.63%
Benchmark 23.35%

Monthly Data as of 30-Sep-2020

Currency

Total
Currencies
9
Largest Currency U.S. dollar 62.28% Was (30-Jun-2020) 64.24%
Other View complete Currency Diversification

Monthly Data as of 30-Sep-2020

Benchmark : MSCI World Select Natural Resources Index

Largest Overweight

U.S. dollar
By 14.38%
Portfolio 62.28%
Benchmark 47.91%

Largest Underweight

Canadian dollar
By -9.66%
Portfolio 4.46%
Benchmark 14.13%

Monthly Data as of 30-Sep-2020

Team (As of 01-Oct-2020)

Shawn T.  Driscoll

Shawn Driscoll is the portfolio manager of the Global Natural Resources Equity Strategy, including the New Era Fund, in the U.S. Equity Division. He is chairman of the Investment Advisory Committee of the Global Natural Resources Equity Strategy and a vice president and an Investment Advisory Committee member of the US Capital Appreciation, US Large-Cap Core Equity, US Growth Stock, US Large-Cap Core Equity, US Mid-Cap Growth Equity, US Multi-Cap Growth Equity, and Real Assets Equity Strategies. Shawn also is a vice president of T. Rowe Price Group, Inc. 

Shawn’s investment experience began in 2003, and he has been with T. Rowe Price since 2006, beginning in the U.S. Equity Division. Prior to this, Shawn was employed by MTB Investment Advisors as an equity research analyst. Shawn also was employed by MPower Communications as an information technology project manager. 

Shawn earned a B.A. in economics and mathematics from the University of Rochester and an M.B.A. in finance and global business from New York University, Leonard N. Stern School of Business.

  • Portfolio manager
    since
    2013
  • Years at
    T. Rowe Price
    14
  • Years investment
    experience
    17
Brian Dausch, CFA

Brian Dausch is a portfolio specialist in the U.S. Equity Division. He is a member of the Global Natural Resources Equity, US Mid-Cap Growth Equity, US Small-Cap Growth Equity, QM US Small-Cap Growth Equity, and Health Sciences Equity Strategy teams, working closely with institutional clients, consultants, and prospects. He is a vice president of T. Rowe Price Group, Inc.  

Brian’s investment experience began in 1997, and he has been with T. Rowe Price since 1998, beginning in the U.S. Equity Division as an associate investment analyst covering biotechnology and pharmaceutical companies. Prior to his current role, Brian managed the U.S. Equity Portfolio Analysis Group.

Brian earned a B.S. in business administration, with a concentration in finance, from the University of Delaware. He also has earned the Chartered Financial Analyst® designation.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Years at
    T. Rowe Price
    21
  • Years investment
    experience
    22

Download

Latest Date Range
Audience for the document: Share Class: Language of the document:
Download Cancel

Download

Share Class: Language of the document:
Download Cancel
Sign in to manage subscriptions for products, insights and email updates.
Continue with sign in?
To complete sign in and be redirected to your registered country, please select continue. Select cancel to remain on the current site.
Continue Cancel
Once registered, you'll be able to start subscribing.

By clicking the Continue button, I acknowledge that I have read and accepted the Privacy Notice

Continue Back

Change Details

If you need to change your email address please contact us.
Subscriptions
OK
You are ready to start subscribing.
Get started by going to our products or insights section to follow what you're interested in.

Products Insights

GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®). TRP has been independently verified for the twenty one- year period ended June 30, 2017 by KPMG LLP. The verification report is available upon request. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation.

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

Other Literature

You have successfully subscribed.

Notify me by email when
regular data and commentary is available
exceptional commentary is available
new articles become available

Thank you for your continued interest