OEIC
US Smaller Companies Equity Fund
Seeks capital appreciation using both value and growth approaches.
Since Inception Annualised
(View Total Returns)
Total Assets
(GBP)
1YR Return
(View Total Returns)
Manager Tenure
Information Ratio
Tracking Error
Inception Date 13-Mar-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
- Focus on companies within the market cap range of the Russell 2500 Index at time of purchase.
- Assess valuation using relevant sector/industry metrics — absolute and relative price to earnings, price to cash flow, and price to assets.
- Integrate fundamental research by a dedicated Small-Cap research team to discover underfollowed companies possessing clear business plans, financial flexibility, and proven management teams.
- Identification of a “value creation” catalyst is key.
- Broadly diversify holdings to manage portfolio risk profile.
- Employ a low turnover and patient trading strategy to promote full value realization.
Portfolio Construction
- 200-250 securities
- Position sizes typically range from 0.15% to 2.50%
- Primary sector weights generally vary from 0.5X to 2.0X the Russell 2500 Index weights
Performance (Class C)
Annualised Performance
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
Since Manager Inception | |
|---|---|---|---|---|---|
| Fund % | 21.32% | N/A | N/A | 12.77% | 15.60% |
| Indicative Benchmark % | 9.62% | N/A | N/A | 6.97% | 8.66% |
| Excess Return % | 11.70% | N/A | N/A | 5.80% | 6.94% |
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
|
|---|---|---|---|---|
| Fund % | 15.14% | N/A | N/A | 13.35% |
| Indicative Benchmark % | 1.29% | N/A | N/A | 6.93% |
| Excess Return % | 13.85% | N/A | N/A | 6.42% |
Recent Performance
| Month to DateData as of 11-Dec-2019 | Quarter to DateData as of 11-Dec-2019 | Year to DateData as of 11-Dec-2019 | 1 MonthData as of 30-Nov-2019 | 3 MonthsData as of 30-Nov-2019 | |
|---|---|---|---|---|---|
| Fund % | -2.80% | -2.12% | 30.51% | 4.24% | -0.58% |
| Indicative Benchmark % | -2.09% | -0.89% | 20.36% | 4.31% | 1.78% |
| Excess Return % | -0.71% | -1.23% | 10.15% | -0.07% | -2.36% |
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
173
Largest Top Contributor^
CoStar Group
By 0.09%Largest Top Detractor^
John Bean Technologies
By -0.08%Top Purchase
Federal Realty Investment Trust (N)
0.49%Top Sale
Marvell Technology Group
1.37%Sectors
Total
Sectors
11
Largest Overweight
Industrials & Business Services
Largest Underweight
Real Estate
Team (As of 31-Aug-2019)
Curt Organt is the portfolio manager of the US Smaller Companies Equity Strategy and the associate portfolio manager of the US Small-Cap Core Equity Strategy in the U.S. Equity Division of T. Rowe Price. Mr. Organt is a vice president and an Investment Advisory Committee member of the Small-Cap Stock, Small-Cap Value, Global Industrials Equity, New Horizons, and US Small-Cap Growth II Equity Strategies. He is a vice president of T. Rowe Price Group, Inc.
Mr. Organt has 25 years of investment experience, 23 of which have been with T. Rowe Price. Prior to joining the firm in 1995, he was a financial analyst and a marketing analyst at DAP Products, Inc.
Mr. Organt earned a B.S. in finance and philosophy from La Salle University and an M.B.A. from Wake Forest University. He also has earned the Chartered Financial Analyst designation.
- Fund manager2019
since - Years at24
T. Rowe Price - Years investment28
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 at5
T. Rowe Price - Years investment25
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 to 95 basis points | 1.12% |
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.
Curt Organt is the portfolio manager of the US Smaller Companies Equity Strategy and the associate portfolio manager of the US Small-Cap Core Equity Strategy in the U.S. Equity Division of T. Rowe Price. Mr. Organt is a vice president and an Investment Advisory Committee member of the Small-Cap Stock, Small-Cap Value, Global Industrials Equity, New Horizons, and US Small-Cap Growth II Equity Strategies. He is a vice president of T. Rowe Price Group, Inc.