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
- 50 or fewer 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 % | 13.02% | 13.50% | 11.89% | 15.49% |
| Composite Net % | 12.51% | 12.99% | 11.39% | 14.97% |
| Benchmark % | 10.42% | 14.19% | 10.71% | 14.70% |
| Excess Return (Gross) % | 2.60% | -0.69% | 1.18% | 0.79% |
Recent Performance
| 3 MonthsData as of 30-Jun-2019 | Year to DateData as of 30-Jun-2019 | |
|---|---|---|
| Composite Gross % | 5.43% | 18.75% |
| Composite Net % | 5.31% | 18.49% |
| Benchmark % | 4.30% | 18.54% |
| Excess Return (Gross) % | 1.13% | 0.21% |
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.
Holdings
Total
Holdings
65
Top Purchase
Morgan Stanley (N)
1.19%Top Sale
Chubb (E)
0.00%Sectors
Total
Sectors
11
Top Contributor^
Financials
Net Contribution 0.35%Top Detractor^
Consumer Staples
Net Contribution -0.09%Largest Overweight
Materials
Largest Underweight
Information Technology
Team (As of 07-Feb-2019)
Jeff Rottinghaus is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is president of the US Large-Cap Core Equity and Growth & Income Strategies and chairman of the strategies' Investment Advisory Committees. In addition, he is a vice president and an Investment Advisory Committee member of the Dividend Growth and Capital Appreciation Strategies. Mr. Rottinghaus is a vice president of T. Rowe Price Group, Inc.
Mr. Rottinghaus has 18 years of investment experience, all of which have been with T. Rowe Price. Prior to joining the firm in 2001, he was a financial consultant with Ernst & Young. Mr. Rottinghaus is a former part owner of software consulting firm Kelly-Levey & Associates.
Mr. Rottinghaus earned a B.S. in business administration from Bowling Green State University and an M.B.A. in finance from The Wharton School, University of Pennsylvania. He also is a certified public accountant.
- Portfolio manager2009
since - Years at18
T. Rowe Price - Years investment19
experience
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
experience
Jeff Rottinghaus is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is president of the US Large-Cap Core Equity and Growth & Income Strategies and chairman of the strategies' Investment Advisory Committees. In addition, he is a vice president and an Investment Advisory Committee member of the Dividend Growth and Capital Appreciation Strategies. Mr. Rottinghaus is a vice president of T. Rowe Price Group, Inc.