Past performance is not a reliable indicator of future performance.
Strategy
US Large-Cap Core Equity
The US Large-Cap Core Equity Composite seeks long-term capital growth primarily through investments in common stocks of well established large-cap U.S. companies that may have either value or growth characteristics.
3YR Return Annualised (Net)
(View Total Returns)
Tracking Error
(5 Years)
1YR Return (Net)
(View Total Returns)
Information Ratio
(5 Years)
Inception Date 30-Jun-2009
Performance figures calculated in USD
Strategy
Investment Approach
- Carefully constructed portfolio of the portfolio manager’s highest conviction investment ideas supported by our deep pool of U.S. equity analysts.
- Core style targeting attractive opportunities across the investable universe irrespective of growth or value style.
- Investment process that:
- leverages the stock selection capabilities of our global research team;
- emphasizes fundamental bottom-up stock selection;
- is combined with an in-depth valuation assessment;
- has rigorous portfolio construction.
- Active risk management process integrated throughout our analysis.
- Focused Large-Cap approach with stock selection the primary source of value added.
- High conviction portfolio takes meaningful bets based on rigorous proprietary research.
Portfolio Construction
- Roughly 50-60 securities.
- Invest in high conviction ideas over a two-year time horizon.
- Typical position size range: +/- 4% relative to the benchmark.
- Sector weights: Generally limited to +/- 10% relative to the benchmark.
- Expected active share: targeting 70% or greater
Performance
Annualised Performance
Quarterly| 1 YR | 3 YR Annualised |
5 YR Annualised |
10 YR Annualised |
|
|---|---|---|---|---|
| Composite Gross % | 12.02% | 11.70% | 13.21% | 14.41% |
| Composite Net % | 11.52% | 11.20% | 12.71% | 13.90% |
| Benchmark % | 15.15% | 12.28% | 14.15% | 13.74% |
| Excess Return (Gross) % | -3.13% | -0.58% | -0.94% | 0.67% |
Recent Performance
| 3 MonthsData as of 30-Sep-2020 | Year to DateData as of 30-Sep-2020 | |
|---|---|---|
| Composite Gross % | 9.25% | 3.53% |
| Composite Net % | 9.13% | 3.18% |
| Benchmark % | 8.93% | 5.57% |
| Excess Return (Gross) % | 0.32% | -2.04% |
Past performance is not a reliable indicator of future performance.
Returns for time periods greater than one year are annualised.
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.
Holdings
Total
Holdings
66
Top Purchase
Microsoft
6.08%Top Sale
Apple
3.56%Sectors
Total
Sectors
11
Top Contributor^
Industrials & Business Services
Net Contribution 0.58%Top Detractor^
Health Care
Net Contribution -0.35%Largest Overweight
Industrials & Business Services
Largest Underweight
Information Technology
Team (As of 15-Jan-2021)
Jeff Rottinghaus is a portfolio manager in the U.S. Equity Division. He is president of the US Large-Cap Core Equity Strategy and chairman of its Investment Advisory Committee. In addition, he is a vice president and an Investment Advisory Committee member of the US Quantitative U.S. and US Dividend Growth Strategies. Jeff also is a vice president of T. Rowe Price Group, Inc.
Jeff’s investment experience began in 2001 when he joined T. Rowe Price, beginning in the U.S. Equity Division. Prior to this, Jeff was employed by Ernst & Young as a financial consultant. Jeff also was part owner of software consulting firm Kelly Levey & Associates.
Jeff earned a B.S. in business administration from Bowling Green State University and an M.B.A. in finance from the University of Pennsylvania, The Wharton School. He is a certified public accountant.
- Portfolio manager2009
since - Years at19
T. Rowe Price - Years investment20
experience
Eric Papesh is a portfolio specialist based in London in the U.S. Equity Division. Eric supports the US Smaller Companies Equity and US Large-Cap Equity Income Strategies offered in the Europe, Middle East, and Africa and Asia-Pacific regions. Eric is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Eric’s investment experience began in 1994, and he has been with T. Rowe Price since 2014, beginning in the ISG division as a portfolio specialist. Prior to this, Eric was employed by Russell Investments where he focused on U.S. equity investment strategies.
Eric earned a B.A. in business administration, with concentrations in finance and information systems, and an M.B.A. in business administration from the University of Washington. Eric has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Years at6
T. Rowe Price - Years investment26
experience
Jeff Rottinghaus is a portfolio manager in the U.S. Equity Division. He is president of the US Large-Cap Core Equity Strategy and chairman of its Investment Advisory Committee. In addition, he is a vice president and an Investment Advisory Committee member of the US Quantitative U.S. and US Dividend Growth Strategies. Jeff also is a vice president of T. Rowe Price Group, Inc.