T. Rowe Price T. Rowe Price Trusty Logo

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)

12.30%
£8.9m

1YR Return
(View Total Returns)

Manager Tenure

14.73%
3yrs

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 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.

 

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

  • 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 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 % 14.73% 12.30% N/A 11.54%
Indicative Benchmark % 14.19% 13.22% N/A 13.32%
Excess Return % 0.54% -0.92% N/A -1.78%

Inception Date 31-Oct-2016

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

Data as of  30-Nov-2019

  1 YR 3 YR
Annualised
5 YR
Annualised
Since Inception
Annualised
Fund % 12.39% N/A N/A 11.89%
Indicative Benchmark % 9.99% N/A N/A 13.82%
Excess Return % 2.40% N/A N/A -1.93%

Inception Date 31-Oct-2016

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

Data as of  30-Sep-2019

Performance figures calculated in GBP

Recent Performance

  Month to DateData as of 10-Dec-2019 Quarter to DateData as of 10-Dec-2019 Year to DateData as of 10-Dec-2019 1 MonthData as of 30-Nov-2019 3 MonthsData as of 30-Nov-2019
Fund % -2.79% -1.91% 21.72% 4.44% 0.06%
Indicative Benchmark % -1.99% -1.19% 22.83% 3.64% 1.47%
Excess Return % -0.80% -0.72% -1.11% 0.80% -1.41%

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
64
Largest Holding Microsoft 4.37% Was (30-Jun-2019) 3.91%
Other View Full Holdings Quarterly data as of 30-Sep-2019
Top 10 Holdings 28.43% View Top 10 Holdings Monthly data as of 30-Nov-2019

Largest Top Contributor^

Microsoft
By 0.33%
% of fund 4.39%

Largest Top Detractor^

Amazon.com
By -1.67%
% of fund 3.52%

^Absolute

Quarterly Data as of 30-Sep-2019

Top Purchase

Apple
3.12%
Was (30-Jun-2019) 1.56%

Top Sale

Northrop Grumman (E)
0.00%
Was (30-Jun-2019) 1.58%

Quarterly Data as of 30-Sep-2019

Sectors

Total
Sectors
11
Largest Sector Information Technology 20.51% Was (31-Oct-2019) 20.22%
Other View complete Sector Diversification

Monthly Data as of 30-Nov-2019

Indicative Benchmark: S&P 500 Index

Largest Overweight

Health Care
By1.90%
Fund 15.97%
Indicative Benchmark 14.07%

Largest Underweight

Information Technology
By-2.34%
Fund 20.51%
Indicative Benchmark 22.85%

Monthly Data as of 30-Nov-2019

Team (As of 31-Aug-2019)

Jeff Rottinghaus

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.

  • Fund manager
    since
    2016
  • Years at
    T. Rowe Price
    18
  • Years investment
    experience
    19
Eric Papesh

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 at
    T. Rowe Price
    5
  • Years investment
    experience
    25

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 to 65 basis points 0.82%

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

Dismiss
Tap to dismiss

Download

Latest Date Range
Audience for the document: Share Class: Language of the document:
Download Cancel

Download

Share Class: Language of the document:
Download Cancel
Sign in to manage subscriptions for products, insights and email updates.
Continue with sign in?
To complete sign in and be redirected to your registered country, please select continue. Select cancel to remain on the current site.
Continue Cancel
Once registered, you'll be able to start subscribing.

By clicking the Continue button, I acknowledge that I have read and accepted the Privacy Notice

Continue Back

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