Strategy

Global Growth Equity

The Global Growth Equity Composite seeks long-term capital appreciation by investing primarily in a diversified portfolio of transferable equity and equity-related securities of larger cap companies listed on the world's stock markets. The portfolio may include investments in the securities of companies listed on the stock exchange of developed and developing countries.

3YR Return Annualised (Net)
(View Total Returns)

1YR Return (Net)
(View Total Returns)

14.85%
18.06%

Inception Date 31-Oct-2008

Performance figures calculated in USD

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R. Scott Berg
R. Scott Berg, Lead Portfolio Manager

Scott Berg is the portfolio manager for the T. Rowe Price Global Growth Equity Strategy and a vice president of T. Rowe Price Group, Inc.

 

Strategy

Investment Approach

  • Single decision-maker provides clear accountability.
  • Identify “best ideas” by assessing companies in a global sector context, using bottom-up approach to create focused, high-conviction portfolio.
  • Global research platform uses fundamental analysis to identify companies with superior and sustainable growth prospects and improving fundamentals.
  • Macroeconomic and local market factors are integrated in stock selection decisions.
  • Valuation appeal is measured against local market and broad sector opportunity set.
  • Broad range of large-cap stocks, incorporating developed and emerging markets.

Portfolio Construction

  • Number of holdings: Typically around 150 holdings.
  • Individual positions: Typically 0.3%-3.0%, maximum 5%
  • Emerging markets exposure: +/- 15% of benchmark
  • Broad sector ranges: +/- 10% of benchmark
  • Country ranges: +/- 10% of benchmark (USA is +/- 20%)
  • Currency hedging: Currency views incorporated in stock selection
  • Cash target range: Typically less than 5%
  • Expected tracking error: 300 to 700 basis points
  • Primary benchmark is MSCI All Country World Index

Holdings

Total
Holdings
184
Largest Holding Amazon.com 3.62% Was (31-Mar-2020) 3.29%
Other View Full Holdings Quarterly data as of 30-Jun-2020
Top 10 Holdings 17.01% View Top 10 Holdings Monthly data as of 30-Jun-2020

Top Purchase

Colgate-Palmolive (N)
0.89%
Was (31-Mar-2020) 0.00%

Top Sale

Cadence Design Systems (E)
0.00%
Was (31-Mar-2020) 0.59%

Quarterly Data as of 30-Jun-2020

Sectors

Total
Sectors
11
Largest Sector Information Technology 23.23% Was (31-Mar-2020) 23.28%
Other View complete Sector Diversification

Monthly Data as of 30-Jun-2020

Benchmark: MSCI All Country World Index

Top Contributor^

Information Technology
Net Contribution 3.41%
Sector
0.29%
Selection 3.13%

Top Detractor

N/A

^Relative

Quarterly Data as of 30-Jun-2020

Largest Overweight

Consumer Discretionary
By4.24%
Portfolio 16.06%
Benchmark 11.82%

Largest Underweight

Energy
By-2.53%
Portfolio 1.02%
Benchmark 3.55%

Monthly Data as of 30-Jun-2020

Regions

Total
Regions
6
Largest Region North America 53.55% Was (31-Mar-2020) 54.92%
Other View complete Region Diversification

Monthly Data as of 30-Jun-2020

Benchmark: MSCI All Country World Index

Top Contributor^

United States
Net Contribution 4.91%
Region
-0.03%
Selection 4.94%

Top Detractor

N/A

^Relative

Quarterly Data as of 30-Jun-2020

Largest Overweight

Pacific Ex Japan
By5.01%
Portfolio 17.83%
Benchmark 12.82%

Largest Underweight

North America
By-6.58%
Portfolio 53.55%
Benchmark 60.13%

Monthly Data as of 30-Jun-2020

Countries

Total
Countries
29
Largest Country United States 50.98% Was (31-Mar-2020) 52.96%
Other View complete Country Diversification

Monthly Data as of 30-Jun-2020

Benchmark: MSCI All Country World Index

Largest Overweight

India
By3.61%
Portfolio 4.59%
Benchmark 0.97%

Largest Underweight

United States
By-6.40%
Portfolio 50.98%
Benchmark 57.38%

Monthly Data as of 30-Jun-2020

Currency

Total
Currencies
21
Largest Currency U.S. dollar 62.47% Was (31-Mar-2020) 63.85%
Other View complete Currency Diversification

Monthly Data as of 30-Jun-2020

Benchmark : MSCI All Country World Index

Largest Overweight

U.S. dollar
By 3.13%
Portfolio 62.47%
Benchmark 59.34%

Largest Underweight

Japanese yen
By -5.22%
Portfolio 1.77%
Benchmark 6.99%

Monthly Data as of 30-Jun-2020

Team (As of 05-Aug-2020)

R. Scott Berg

Scott Berg is the portfolio manager for the T. Rowe Price Global Growth Equity Strategy and a vice president of T. Rowe Price Group, Inc.

Mr. Berg has 17 years of investment experience, all of which have been with T. Rowe Price. He joined the firm in 2002 as a research analyst covering the business services sector after serving as a summer intern in 2001. In 2005, he joined the global equity team as an associate portfolio manager and in 2008 launched the Global Growth Equity Strategy. Prior to T. Rowe Price, he was the manager of financial analysis and planning for Mead Consumer and Office Products. Previously, Mr. Berg was also employed by McKinsey & Company as a business analyst and was a core team member on the firm's global growth initiative.

Mr. Berg graduated first in his class from Macquarie University in Australia, with a B.Ec. in actuarial studies and finance. He also holds an M.B.A. from the Stanford Graduate School of Business, where he again graduated at the top of his class. Mr. Berg has earned the Chartered Financial Analyst designation.

  • Portfolio manager
    since
    2008
  • Years at
    T. Rowe Price
    18
  • Years investment
    experience
    18
Harishankar Balkrishna

Hari Balkrishna is an associate portfolio manager for the Global Growth Equity Strategy in the Equity Division of T. Rowe Price. Mr. Balkrishna is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

Mr. Balkrishna has 12 years of investment experience. He completed an internship at T. Rowe Price in 2009. Prior to joining the firm in 2010, he worked at Goldman Sachs, Sydney, Australia, in the financial institutions group of the Investment Banking Division.

Mr. Balkrishna has a bachelor of commerce in finance and accounting (university medal and first-class honours) from the University of New South Wales and also has earned an M.B.A., with distinction, from Harvard Business School.

  • Portfolio manager
    since
    2015
  • Years at
    T. Rowe Price
    10
  • Years investment
    experience
    13
Samuel Ruiz

Samuel Ruiz is a portfolio specialist in the Equity Division. He is a vice president of T. Rowe Price Australia Limited. 

Sam’s investment experience began in 2008, and he has been with T. Rowe Price since 2020, beginning as an associate working with the Global Equity and Australia Equity Strategies in the Equity Division. Prior to this, Sam was employed by Macquarie Investment Management in the area of strategy in the Equities Division. 

Sam earned a bachelor of applied finance degree from the University of South Australia.

  • Years at
    T. Rowe Price
    <1 year
  • Years investment
    experience
    0
Laurence Taylor

Laurence Taylor is a portfolio specialist in the Equity Division at T. Rowe Price, representing the firm's global equity strategies to institutional clients, consultants and prospects. Mr. Taylor is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

Mr. Taylor has 19 years of investment experience, 10 of which have been with T. Rowe Price. Prior to joining the firm in 2008, Mr. Taylor was a quantitative portfolio manager at AXA Rosenberg, with responsibility for European institutional clients, and began his career at Hewitt Associates in the UK investment practice. At Hewitt, Mr. Taylor provided investment advice to European institutions as a client-facing consultant before specializing in the research and selection of global and regional equity managers in the manager research team.

Mr. Taylor obtained his B.A., with honours, from Greenwich University and has earned the Chartered Financial Analyst designation.

  • Years at
    T. Rowe Price
    11
  • Years investment
    experience
    20
Jennifer O'Hara Martin

Jennifer O'Hara Martin is a global equity portfolio specialist in the U.S. Equity Division of T. Rowe Price. She is a member of the Global Growth Equity, Global Focused Growth Equity, Global Technology Equity, Communications & Technology Equity, Science & Technology Equity, and US Structured Research Equity Strategy teams. Ms. Martin is a vice president of T. Rowe Price Group, Inc.

Ms. Martin has 23 years of investment experience, 14 of which have been at T. Rowe Price. She joined the firm in 2005 as an equity research analyst covering food retailing and discount stores and had portfolio management responsibilities for the firm's US Structured Research Equity Strategy. Prior to joining the firm, she was an equity research analyst at Northern Trust, following telecommunications and business services companies. Ms. Martin was also employed by Merrill Lynch, where she was an investment banking analyst.

Ms. Martin earned a B.S. in agricultural economics from the University of Illinois at Urbana-Champaign and an M.B.A. from Northwestern University, Kellogg School of Management. She presently serves on the Board of Trustees of the Baltimore Museum of Art and as a committee member for the Northwestern University, Kellogg School of Management, Asset Management Practicum.

  • Years at
    T. Rowe Price
    15
  • Years investment
    experience
    24

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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

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