Download

Audience for the document: Share Class: Language of the document:

Download

Share Class: Language of the document:

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

Please enter valid search characters

OEIC

US Equity Fund

Style agnostic investing in larger US companies.

ISIN GB00BD8G5832 Bloomberg TRPUECA:LN

3YR Return Annualised
(View Total Returns)

Total Assets
(GBP)

9.45%
£11.6m

1YR Return
(View Total Returns)

Manager Tenure

6.87%
4yrs

Information Ratio
(3 Years)

Tracking Error
(3 Years)

-0.33
4.95%

Inception Date 31-Oct-2016

Performance figures calculated in GBP

Other Literature

Jeff Rottinghaus
Jeff Rottinghaus, Portfolio Manager

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.

 

Strategy

Investment Objective

To increase the value of its shares through growth in the value of its investments.

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 tracking error: targeting 400 basis points.
  • Expected active share: targeting 70% or greater.

Performance (Class C)

Annualised Performance

  1 YR 3 YR
Annualised
5 YR
Annualised
Since Inception
Annualised
Fund % 6.87% 9.45% N/A 9.41%
Indicative Benchmark % 9.48% 11.08% N/A 11.64%
Excess Return % -2.61% -1.63% N/A -2.23%

Inception Date 31-Oct-2016

Indicative Benchmark: S&P 500 Net 15% Withholding Tax

Data as of  31-Oct-2020

Performance figures calculated in GBP

  1 YR 3 YR
Annualised
5 YR
Annualised
Since Inception
Annualised
Fund % 5.89% 12.11% N/A 10.33%
Indicative Benchmark % 9.45% 13.34% N/A 12.69%
Excess Return % -3.56% -1.23% N/A -2.36%

Inception Date 31-Oct-2016

Indicative Benchmark: S&P 500 Net 15% Withholding Tax

Data as of  30-Sep-2020

Performance figures calculated in GBP

Recent Performance

  Month to DateData as of 27-Nov-2020 Quarter to DateData as of 27-Nov-2020 Year to DateData as of 27-Nov-2020 1 MonthData as of 31-Oct-2020 3 MonthsData as of 31-Oct-2020
Fund % 9.00% 6.28% 11.59% -2.49% 1.84%
Indicative Benchmark % 7.95% 5.05% 13.40% -2.69% 1.83%
Excess Return % 1.05% 1.23% -1.81% 0.20% 0.01%

Inception Date 31-Oct-2016

Indicative Benchmark: S&P 500 Net 15% Withholding Tax

Indicative Benchmark: S&P 500 Net 15% Withholding Tax

Performance figures calculated in GBP

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.

Holdings

Total
Holdings
66
Largest Holding Microsoft 6.00% Was (30-Jun-2020) 5.83%
Other View Full Holdings Quarterly data as of 30-Sep-2020
Top 10 Holdings 32.12% View Top 10 Holdings Monthly data as of 31-Oct-2020

Largest Top Contributor^

Amazon.com
By 1.68%
% of fund 5.27%

Largest Top Detractor^

Eli Lilly and Co
By -0.06%
% of fund 1.62%

^Absolute

Quarterly Data as of 30-Sep-2020

Top Purchase

Bank of America (N)
1.57%
Was (30-Jun-2020) 0%

Top Sale

Apple
3.59%
Was (30-Jun-2020) 5.98%

Quarterly Data as of 30-Sep-2020

Sectors

Total
Sectors
11
Largest Sector Information Technology 25.64% Was (30-Sep-2020) 25.19%
Other View complete Sector Diversification

Monthly Data as of 31-Oct-2020

Indicative Benchmark: S&P 500 Index

Largest Overweight

Utilities
By1.57%
Fund 4.77%
Indicative Benchmark 3.20%

Largest Underweight

Communication Services
By-3.14%
Fund 8.02%
Indicative Benchmark 11.15%

Monthly Data as of 31-Oct-2020

Team (As of 01-Oct-2020)

Jeff Rottinghaus

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.

  • Fund manager
    since
    2016
  • Years at
    T. Rowe Price
    19
  • Years investment
    experience
    20
Eric Papesh, CFA, BA, MBA

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 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 at
    T. Rowe Price
    6
  • Years investment
    experience
    26

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 to65 basis points 0.82%

Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.