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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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Global Allocation Fund

Invests in a broadly diversified global portfolio of investments including developed and emerging market equities, a wide range of global developed and emerging market fixed income strategies, plus various diversifying strategies providing exposure to hedge funds, currency hedging, and equity index call writing.

ISIN LU1417861728 Bloomberg TRGUNAD:LX

3YR Return Annualised
(View Total Returns)

Total Assets


1YR Return
(View Total Returns)

Manager Tenure


Information Ratio
(5 Years)

Tracking Error
(5 Years)


Inception Date 08-Jul-2016

Performance figures calculated in USD

Charles M.  Shriver, CFA
Charles M. Shriver, CFA, Co-Portfolio Manager

Charles Shriver is the portfolio manager of the Global Allocation, Balanced, and Spectrum Funds, and he is cochair of the Asset Allocation Committee. Charles is a vice president of T. Rowe Price Group, Inc.



Investment Objective

To maximise the value of its shares, over the long term, through both growth in the value of, and income from, its investments.

Investment Approach

  • The Fund seeks long-term capital appreciation and income. The Fund blends active security selection and asset allocation positioning in a broadly diversified global portfolio of stocks, bonds, cash, and alternatives across sectors, regions, and market capitalizations.
  • The Fund’s broad opportunity set includes developed and emerging market equities, a wide range of global developed and emerging market fixed income strategies across sectors and credit quality, plus various diversifying strategies providing exposure to hedge funds, currency hedging, real asset equities, and an equity index-option strategy.
  • The Fund has the ability to utilize tactical asset allocation within defined ranges for each asset class or sector to potentially capitalize on a variety of global market environments.
  • Sources of value added:
    • Portfolio Design: Strategic allocation that is diversified across asset classes and sectors with low correlations to dampen volatility and includes investments that have the potential to enhance long-term returns.
    • Tactical Asset Allocation: The Asset Allocation Committee makes tactical decisions to overweight or underweight asset classes and sectors based on a 6-18 month investment horizon.
    • Fundamentally-Driven Security Selection: Underlying portfolio managers select individual securities leveraging the T. Rowe Price global research platform of approximately 200 fundamental equity and credit analysts.
  • The Fund is subject to the unique risks of international investing, including unfavorable currency exchange rates and political or economic uncertainty abroad. To the extent the fund has investments in emerging market countries; it will be subject to abrupt and severe price declines. The portfolio’s investments in alternative investments and hedge funds are difficult to value and monitor when compared with more traditional investments, and may increase the fund’s liquidity risks. Diversification cannot assure a profit or protect against loss in a declining market. Derivatives are used in the fund for selective market exposures.

Portfolio Construction

  • The Fund’s long-term strategic neutral asset allocation is 60% stocks, 30% bonds and cash, and 10% alternative investments and has an allocation to diversifying strategies seeking to enhance the risk and return profile of the portfolio through sources of less correlated returns and diversified sources of income.
  • Approximately 40% of the Fund’s investments are in international stocks and bonds, representing both developed and emerging markets.
  • An allocation to global equities is designed to capture the breadth of global investing opportunities with approximately 50% of the equity allocation in international equities.
  • An allocation to global fixed income markets, with one-third in international bonds, designed to emphasize specific attributes that contribute to the overall portfolio across a range of economic environments.