Past performance is not a reliable indicator of future performance.
Strategy
Global Natural Resources Equity
The Global Natural Resources Equity Composite seeks long-term capital appreciation primarily through investment in natural resource companies with potential for earnings growth greater than the rate of inflation.
3YR Return Annualised (Net)
(View Total Returns)
Tracking Error
(5 Years)
1YR Return (Net)
(View Total Returns)
Information Ratio
(5 Years)
Inception Date 30-Jun-1981
Performance figures calculated in USD
Strategy
Investment Approach
- Focus on well-managed companies that own or develop natural resources and other basic commodities with attractive long-term supply-demand fundamentals.
- Invest in companies that operate “downstream” from these resources, e.g., refining, paper manufacturing, steel fabrication, and petrochemicals.
- The portfolio invests in resource companies on a global basis including international energy, forest products, mining, and commodities.
- Assessment of resource/commodity cycle, industry valuation, and company fundamentals is key.
- Broadly diversify holdings to manage portfolio risk profile relative to highly concentrated energy or gold strategies.
Portfolio Construction
- Typically 90-120 securities
- Positions typically less than 5%
- Fully invested; reserves typically less than 5%
Performance
Annualised Performance
Quarterly| 1 YR | 3 YR Annualised |
5 YR Annualised |
10 YR Annualised |
|
|---|---|---|---|---|
| Composite Gross % | 46.01% | 3.54% | 6.15% | 1.95% |
| Composite Net % | 45.23% | 2.97% | 5.57% | 1.39% |
| Benchmark % | 49.36% | 1.55% | 5.53% | -0.03% |
| Excess Return (Gross) % | -3.35% | 1.99% | 0.62% | 1.98% |
Recent Performance
| 3 MonthsData as of 30-Jun-2021 | Year to DateData as of 30-Jun-2021 | |
|---|---|---|
| Composite Gross % | 4.99% | 16.23% |
| Composite Net % | 4.84% | 15.91% |
| Benchmark % | 8.16% | 25.78% |
| Excess Return (Gross) % | -3.17% | -9.55% |
Past performance is not a reliable indicator of future performance.
Returns for time periods greater than one year are annualised.
Gross performance returns are presented before management and all other fees, where applicable, but after trading expenses. Net of fees performance reflects the deduction of the highest applicable management fee that would be charged based on the fee schedule contained within this material, without the benefit of breakpoints. Gross and net performance returns reflect the reinvestment of dividends and are net of all non-reclaimable withholding taxes on dividends, interest income, and capital gains.
Effective April 1, 2017, the benchmark for the composite was changed to the MSCI World Select Natural Resources Index Net. Prior to April 1, 2017, the benchmark was the Lipper Global Natural Resources Funds Index. Prior to June 1, 2008, the benchmark was the Lipper Natural Resources Funds Index. Historical benchmark representations have not been restated.
Holdings
Total
Holdings
115
Top Purchase
Antofagasta (N)
0.43%Top Sale
Lundin Mining (E)
0.00%Sectors
Total
Sectors
9
Largest Overweight
Commodity Industrials
Largest Underweight
Energy Services & Processors
Currency
Total
Currencies
9
Largest Overweight
U.S. dollar
Largest Underweight
Canadian dollar
Team (As of 10-Sep-2021)
Shinwoo Kim is the portfolio manager for the Global Natural Resources Equity Strategy, including the New Era Fund. He is the president and chairman of the fund’s Investment Advisory Committee. In addition, Shinwoo is a member of the Investment Advisory Committees of the US Large-Cap Value Equity and US Large-Cap Equity Income Strategies. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Shinwoo has been with T. Rowe Price since 2009, beginning in the U.S. Equity Division as an investment analyst covering energy. Prior to joining the firm, he served as a summer equity research analyst for MFS Investment Management, focusing on the railroad industry. He also was a senior consultant/engineer for AT&T, Inc., and a managed network operation engineer for Sprint Corp.
Shinwoo earned a dual B.S., magna cum laude, in electrical engineering and computer engineering from North Carolina State University and an M.B.A. in finance from the University of Pennsylvania, The Wharton School.
- Portfolio manager2021
since - Years at12
T. Rowe Price - Years investment12
experience
Brian Dausch is a portfolio specialist in the U.S. Equity Division. He is a member of the Global Natural Resources Equity, US Mid-Cap Growth Equity, US Small-Cap Growth Equity, QM US Small-Cap Growth Equity, and Health Sciences Equity Strategy teams, working closely with institutional clients, consultants, and prospects. He is a vice president of T. Rowe Price Group, Inc.
Brian’s investment experience began in 1997, and he has been with T. Rowe Price since 1998, beginning in the U.S. Equity Division as an associate investment analyst covering biotechnology and pharmaceutical companies. Prior to his current role, Brian managed the U.S. Equity Portfolio Analysis Group.
Brian earned a B.S. in business administration, with a concentration in finance, from the University of Delaware. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Years at22
T. Rowe Price - Years investment23
experience
Shinwoo Kim is the portfolio manager for the Global Natural Resources Equity Strategy, including the New Era Fund. He is the president and chairman of the fund’s Investment Advisory Committee. In addition, Shinwoo is a member of the Investment Advisory Committees of the US Large-Cap Value Equity and US Large-Cap Equity Income Strategies. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.