OEIC
US Smaller Companies Equity Fund
Seeks capital appreciation using both value and growth approaches.
Important Information: Read the 19/11/2020 press release regarding a proposal to launch a new investment advisor.
3YR Return Annualised
(View Total Returns)
Total Assets
(GBP)
1YR Return
(View Total Returns)
Manager Tenure
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 Annualised |
|
|---|---|---|---|---|---|
| Fund % | 14.33% | 14.14% | N/A | 12.22% | 16.13% |
| Indicative Benchmark % | 1.95% | 5.23% | N/A | 4.51% | 3.86% |
| Excess Return % | 12.38% | 8.91% | N/A | 7.71% | 12.27% |
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
|
|---|---|---|---|---|
| Fund % | 7.80% | 14.43% | N/A | 11.76% |
| Indicative Benchmark % | -2.80% | 5.51% | N/A | 4.10% |
| Excess Return % | 10.60% | 8.92% | N/A | 7.66% |
Recent Performance
| Month to DateData as of 30-Nov-2020 | Quarter to DateData as of 30-Nov-2020 | Year to DateData as of 30-Nov-2020 | 1 MonthData as of 31-Oct-2020 | 3 MonthsData as of 31-Oct-2020 | |
|---|---|---|---|---|---|
| Fund % | 9.73% | 12.42% | 21.65% | 2.46% | 5.72% |
| Indicative Benchmark % | 12.61% | 14.62% | 10.42% | 1.79% | 5.18% |
| Excess Return % | -2.88% | -2.20% | 11.23% | 0.67% | 0.54% |
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
170
Largest Top Contributor^
CoStar Group
By 0.11%Largest Top Detractor^
Teleflex
By -0.14%Top Purchase
Reliance Steel & Aluminum (N)
0.44%Top Sale
Twilio
0.65%Sectors
Total
Sectors
11
Largest Overweight
Industrials & Business Services
Largest Underweight
Financials
Team (As of 01-Oct-2020)
Curt Organt is the portfolio manager of the US Smaller Companies Equity Strategy and an associate portfolio manager of the US Small-Cap Core Equity Strategy in the U.S. Equity Division. Curt is a vice president and an Investment Advisory Committee member of the US Small-Cap Core Equity, US Diversified Small-Cap Value Equity, and US Small-Cap Growth Equity Strategies. He also is a vice president of T. Rowe Price Group, Inc.
Curt’s investment experience began in 1993, and he has been with T. Rowe Price since 1995, beginning in the U.S. Equity Division. Prior to this, Curt was employed by DAP Products, Inc., as a financial and marketing analyst.
Curt earned a B.S. in finance and philosophy from LaSalle University and an M.B.A. from Wake Forest University. Curt also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Fund manager2019
since - Years at25
T. Rowe Price - Years investment29
experience
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 at6
T. Rowe Price - Years investment26
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 to95 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 an associate portfolio manager of the US Small-Cap Core Equity Strategy in the U.S. Equity Division. Curt is a vice president and an Investment Advisory Committee member of the US Small-Cap Core Equity, US Diversified Small-Cap Value Equity, and US Small-Cap Growth Equity Strategies. He also is a vice president of T. Rowe Price Group, Inc.