OEIC
Global Focused Growth Equity Fund
Concentrating high conviction positions in leading global investment prospects.
3YR Return Annualised
(View Total Returns)
Total Assets
(GBP)
1YR Return
(View Total Returns)
Manager Tenure
Information Ratio
(3 Years)
Tracking Error
(3 Years)
Inception Date 30-May-2017
Performance figures calculated in GBP
Strategy
Investment Objective
To increase the value of its shares through growth in the value of its investments.
Investment Approach
- Single decision maker provides clear accountability.
- Identify “best ideas” by assessing companies in a global sector context, using bottom-up approach to create focused, high- conviction portfolio.
- Global research platform uses fundamental analysis to identify companies with superior and sustainable growth prospects, and improving fundamentals.
- Macroeconomic and local market factors are integrated in stock selection decisions.
- Valuation appeal is measured against local market and broad sector opportunity set.
- Broad range of stocks across all capitalizations, incorporating developed and emerging markets.
- Environmental, social and governance ("ESG") factors with particular focus on those considered most likely to have a material impact on the performance of the holdings or potential holdings in the funds’ portfolio are assessed. These ESG factors, which are incorporated into the investment process alongside financials, valuation, macro-economics and other factors, are components of the investment decision. Consequently, ESG factors are not the sole driver of an investment decision but are instead one of several important inputs considered during investment analysis.
Portfolio Construction
- Number of holdings: typically 60-80 stocks
- Individual positions: Typically 0.5%-5.0%
- Emerging markets exposure: +/-15% of benchmark
- Broad sector ranges: +/-15% of benchmark
- Country ranges: +/-10% of benchmark (U.S.A. is +/-20%)
- Currency hedging: Currency views incorporated in stock selection
- Cash target range: Typically less than 5%, Maximum 10%
- Expected tracking error: 400 to 800 basis points
Performance (Class C)
Annualised Performance
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
|
|---|---|---|---|---|
| Fund % | 25.13% | 22.50% | N/A | 20.83% |
| Indicative Benchmark % | 22.19% | 11.33% | N/A | 11.11% |
| Excess Return % | 2.94% | 11.17% | N/A | 9.72% |
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
|
|---|---|---|---|---|
| Fund % | 25.13% | 22.50% | N/A | 20.83% |
| Indicative Benchmark % | 22.19% | 11.33% | N/A | 11.11% |
| Excess Return % | 2.94% | 11.17% | N/A | 9.72% |
Recent Performance
| Month to DateData as of 22-Oct-2021 | Quarter to DateData as of 22-Oct-2021 | Year to DateData as of 22-Oct-2021 | 1 MonthData as of 30-Sep-2021 | 3 MonthsData as of 30-Sep-2021 | |
|---|---|---|---|---|---|
| Fund % | 2.00% | 2.00% | 12.51% | -1.09% | 2.97% |
| Indicative Benchmark % | 2.47% | 2.47% | 15.43% | -2.15% | 1.37% |
| Excess Return % | -0.47% | -0.47% | -2.92% | 1.06% | 1.60% |
Past performance is not a reliable indicator of future performance. Source for fund performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges, taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.
Effective 1 June 2019, the "net" version of the indicative benchmark replaced the "gross" version of the indicative benchmark. The "net" version of the indicative benchmark assumes the reinvestment of dividends after the deduction of withholding taxes applicable to the country where the dividend is paid; as such, the returns of the new benchmark are more representative of the returns experienced by investors in foreign issuers. Historical benchmark performance has been restated accordingly.
Sectors
Total
Sectors
9
Largest Overweight
Communication Services
Largest Underweight
Information Technology
Countries
Total
Countries
17
Largest Overweight
United Kingdom
Largest Underweight
United States
Currency
Total
Currencies
13
Largest Overweight
British pound sterling
Largest Underweight
Canadian dollar
Team (As of 01-Oct-2021)
David Eiswert is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is the portfolio manager for the Global Focused Growth Equity Strategy, a role he has held since October 1, 2012. Prior to his current role, Mr. Eiswert was the portfolio manager for the Global Technology Strategy from October 2008 until May 2012. He was a technology analyst from 2003 until 2012. Mr. Eiswert is a vice president of T. Rowe Price Group, Inc.
Mr. Eiswert has 19 years of investment experience, 16 of which have been with T. Rowe Price. Prior to joining the firm in 2003, he was an analyst at Mellon Growth Advisors and Fidelity Management and Research. He also worked as a consultant in the communications industry.
Mr. Eiswert earned a B.A., summa cum laude, in economics and political science from St. Mary's College of Maryland and an M.A. in economics from the University of Maryland, College Park. He also has earned the Chartered Financial Analyst designation.
- Fund manager2017
since - Years at18
T. Rowe Price - Years investment21
experience
Josh Nelson is a director of research for North America in the U.S. Equity Division. In addition, he is a co-portfolio manager of the US Structured Research Equity Strategy, cochairman of the US Structured Research Equity Strategy's Investment Advisory Committee, and a member of the Research Governance Oversight Committee. He also serves on the Equity Steering Committee. Josh is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Trust Company.
Josh’s investment experience began in 2003, and he has been with T. Rowe Price since 2007, beginning in the U.S. Equity Division as an investment analyst covering business services and education. Subsequently, he became an associate portfolio manager of the Global Focused Growth Equity Strategy from 2010 to 2018. Prior to this, Josh was employed by Citigroup as an investment banking analyst.
Josh earned a B.S., with honors, in industrial and systems engineering from the University of Florida and an M.B.A., with honors, in finance from the University of Pennsylvania, The Wharton School.
- Fund manager2017
since - Years at14
T. Rowe Price - Years investment19
experience
Samuel Ruiz is a portfolio specialist in the Equity Division. He is a vice president of T. Rowe Price Australia Ltd.
Sam’s investment experience began in 2008, and he has been with T. Rowe Price since 2020, beginning in the Equity Division working on the Global and Australia Equity Strategies. Prior to this, Sam was employed by Macquarie Investment Management in the area of strategy in the Equities Division.
Sam earned a bachelor of applied finance degree from the University of South Australia.
- Years at1
T. Rowe Price - Years investment13
experience
Laurence Taylor is a portfolio specialist in the Equity Division. He represents the firm's global equity strategies to institutional clients, consultants, and prospects. Laurence is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Laurence’s investment experience began in 1999, and he has been with T. Rowe Price since 2008, beginning in the Investment Specialist Group. Prior to this, Laurence was employed by AXA Rosenberg as a quantitative portfolio manager, with responsibility for global and European equity portfolios, and began his career at AonHewitt Associates in the UK investment practice. At AonHewitt, Laurence provided investment advice to European institutions as a client-facing consultant before specializing in the research and selection of global and regional equity managers in the manager research team.
Laurence earned a B.A., with honors, from Greenwich University. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Years at12
T. Rowe Price - Years investment21
experience
Fee Schedule
| Share Class | Minimum Initial Investment and Holding Amount | Minimum Subsequent Investment | Minimum Redemption Amount | Sales Charge (up to) | Management Charge | Ongoing Charge |
|---|---|---|---|---|---|---|
| Class C | £10,000 | £500 | £500 | N/A | Up to75 basis points | 0.92% |
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.
David Eiswert is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is the portfolio manager for the Global Focused Growth Equity Strategy, a role he has held since October 1, 2012. Prior to his current role, Mr. Eiswert was the portfolio manager for the Global Technology Strategy from October 2008 until May 2012. He was a technology analyst from 2003 until 2012. Mr. Eiswert is a vice president of T. Rowe Price Group, Inc.