Past performance is not a reliable indicator of future performance.
Strategy
Global Technology Equity
The Global Technology Equity Composite seeks long-term capital appreciation through investments in companies around the world expected to benefit from technological progress.
3YR Return Annualised (Net)
(View Total Returns)
Tracking Error
(5 Years)
1YR Return (Net)
(View Total Returns)
Information Ratio
(5 Years)
Inception Date 31-Oct-2000
Performance figures calculated in USD
Strategy
Investment Approach
- Seeks long-term growth by investing primarily in the common stocks of companies that generate the majority of revenues from the development, advancement, and use of technology.
- Stock selection is driven by rigorous research and analysis of companies, sectors, and industry trends.
- The Strategy invests in the common stocks of technology companies or companies enabled by technology across the entire market capitalization spectrum. We seek companies which can successfully weather economic cycles and deliver sustainable growth through product development and innovation, at a reasonable valuation.
- While our primary emphasis is on a company’s prospects for future growth, valuation is also an important consideration, particularly when valuation reaches extreme levels.
Portfolio Construction
- Typically 30-80 stock portfolio
- Non-U.S. companies typically make up over 20-30% of the portfolio
- Portfolio consists of highest conviction ideas from a global perspective
- Diversification across sectors, countries/currencies, and end markets is a risk management tool
- Bottom-up stock picking is used to capitalize on rapid and extreme changes in technology trends
Performance
Annualised Performance
Quarterly| 1 YR | 3 YR Annualised |
5 YR Annualised |
10 YR Annualised |
|
|---|---|---|---|---|
| Composite Gross % | 61.79% | 32.69% | 32.36% | 25.15% |
| Composite Net % | 60.70% | 31.78% | 31.45% | 24.29% |
| Benchmark % | 46.43% | 28.84% | 29.78% | 20.05% |
| Excess Return (Gross) % | 15.36% | 3.85% | 2.58% | 5.10% |
Recent Performance
| 3 MonthsData as of 30-Jun-2021 | Year to DateData as of 30-Jun-2021 | |
|---|---|---|
| Composite Gross % | 15.34% | 15.25% |
| Composite Net % | 15.15% | 14.86% |
| Benchmark % | 10.61% | 12.67% |
| Excess Return (Gross) % | 4.73% | 2.58% |
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.
Index returns shown with gross dividends reinvested.
Holdings
Total
Holdings
96
Top Purchase
Okta
4.43%Top Sale
Workday
0.83%Sectors
Total
Sectors
13
Top Contributor^
Software
Net Contribution 2.10%Top Detractor^
Real Estate
Net Contribution -0.26%Largest Overweight
Internet
Largest Underweight
Hardware
Countries
Total
Countries
13
Largest Overweight
Singapore
Largest Underweight
Japan
Team (As of 10-Sep-2021)
Alan Tu is the portfolio manager for the Global Technology Equity Strategy in the U.S. Equity Division. He also is chairman of its Investment Advisory Committee. Alan is a vice president and an Investment Advisory Committee member of the US Small-Cap Growth II Equity, Science & Technology Equity, US Large-Cap Core Growth Equity, Communications and Technology Equity, and US Tax-Efficient Multi-Cap Growth Equity Strategies. In addition, he is an Investment Advisory Committee member of the Global Growth Equity Strategy. Alan also is a vice president of T. Rowe Price Group, Inc.
Alan’s investment experience began in 2012, and he has been with T. Rowe Price since 2014, beginning in the U.S. Equity Division. After that, he was an investment analyst following software companies in the technology sector. He also served as a summer intern in 2013. Prior to T. Rowe Price, Alan was employed by Ananda Capital Management as an analyst, conducting analyses of small-cap Chinese and U.S. equities. He also was a valuation associate at Huron Consulting Group.
Alan earned a B.S., summa cum laude, in business administration from the University of California, Berkeley, and an M.B.A., with honors, from the University of Chicago, Booth School of Business. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Portfolio manager2019
since - Years at7
T. Rowe Price - Years investment7
experience
Jennifer O’Hara Martin is a global equity portfolio specialist in the U.S. Equity Division. She is a member of the Global Growth Equity, Global Focused Growth Equity, Global Technology Equity, Communications & Technology Equity, and Science & Technology Equity Strategy teams. Jennifer is a vice president of T. Rowe Price Group, Inc.
Jennifer’s investment experience began in 1996, and she has been with T. Rowe Price since 2005, beginning in the U.S. Equity Division, when she joined the firm as an equity research analyst covering food retailing and discount stores, in addition to having portfolio management responsibilities for the US Structured Research Equity Strategy. Prior to this, Jennifer was employed by Northern Trust, following telecommunications and business services companies. Jennifer also was employed by Merrill Lynch as an investment banking analyst.
Jennifer earned a B.S. in agricultural economics from the University of Illinois, 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 is a committee member for the Northwestern University, Kellogg School of Management, Asset Management Practicum.
- Years at16
T. Rowe Price - Years investment25
experience
Alan Tu is the portfolio manager for the Global Technology Equity Strategy in the U.S. Equity Division. He also is chairman of its Investment Advisory Committee. Alan is a vice president and an Investment Advisory Committee member of the US Small-Cap Growth II Equity, Science & Technology Equity, US Large-Cap Core Growth Equity, Communications and Technology Equity, and US Tax-Efficient Multi-Cap Growth Equity Strategies. In addition, he is an Investment Advisory Committee member of the Global Growth Equity Strategy. Alan also is a vice president of T. Rowe Price Group, Inc.