T. Rowe Price T. Rowe Price Trusty Logo

OEIC

US Smaller Companies Equity Fund

Seeks capital appreciation using both value and growth approaches.

Class C ISIN GB00BD446P55 Bloomberg TRUSCCA:LN

Since Inception Annualised
(View Total Returns)

Total Assets
(GBP)

12.77%
£51.6m

1YR Return
(View Total Returns)

Manager Tenure

21.32%
<1yr

Information Ratio

Tracking Error

N/A
N/A

Inception Date 13-Mar-2017

Performance figures calculated in GBP

Other Literature

Curt J. Organt, CFA
Curt J. Organt, CFA, Portfolio Manager

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.

 

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%

Inception Date 13-Mar-2017

Manager Inception Date 31-Mar-2019

Indicative Benchmark: Russell 2500 Index Net 15%

Data as of  30-Nov-2019

  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%

Inception Date 13-Mar-2017

Indicative Benchmark: Russell 2500 Index Net 15%

Data as of  30-Sep-2019

Performance figures calculated in GBP

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%

Inception Date 13-Mar-2017

Indicative Benchmark: Russell 2500 Index Net 15%

Indicative Benchmark: Russell 2500 Index Net 15%

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
173
Largest Holding CoStar Group 2.21% Was (30-Jun-2019) 2.17%
Other View Full Holdings Quarterly data as of 30-Sep-2019
Top 10 Holdings 15.06% View Top 10 Holdings Monthly data as of 30-Nov-2019

Largest Top Contributor^

CoStar Group
By 0.09%
% of fund 2.26%

Largest Top Detractor^

John Bean Technologies
By -0.08%
% of fund 0.98%

^Absolute

Quarterly Data as of 30-Sep-2019

Top Purchase

Federal Realty Investment Trust (N)
0.49%
Was (30-Jun-2019) 0.00%

Top Sale

Marvell Technology Group
1.37%
Was (30-Jun-2019) 1.72%

Quarterly Data as of 30-Sep-2019

Sectors

Total
Sectors
11
Largest Sector Industrials & Business Services 19.81% Was (31-Oct-2019) 20.16%
Other View complete Sector Diversification

Monthly Data as of 30-Nov-2019

Indicative Benchmark: Russell 2500 Index

Largest Overweight

Industrials & Business Services
By4.53%
Fund 19.81%
Indicative Benchmark 15.28%

Largest Underweight

Real Estate
By-3.41%
Fund 7.02%
Indicative Benchmark 10.42%

Monthly Data as of 30-Nov-2019

Team (As of 31-Aug-2019)

Curt J. Organt, CFA

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 manager
    since
    2019
  • Years at
    T. Rowe Price
    24
  • Years investment
    experience
    28
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 95 basis points 1.12%

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