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Strategy

Global Value Equity

The Global Value Equity Composite seeks long-term capital appreciation and reasonable income primarily through investment in companies domiciled in developed countries globally.

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

Tracking Error
(5 Years)

7.48%
2.29%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

0.10%
-0.64

Inception Date 31-Jul-2012

Performance figures calculated in USD

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Sebastien Mallet
Sebastien Mallet, Portfolio Manager

Sebastien Mallet is a portfolio manager in the Equity Division at T. Rowe Price, managing the Institutional Global Value Strategy. Mr. Mallet is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

 

Strategy

Investment Approach

  • Diversified portfolio investing in companies located throughout the globe.
  • Emphasize attractively valued companies with prospects for improving earnings growth.
  • Employ rigorous and comprehensive research to identify and assess investment opportunities.
  • Allocate country and sector positions through consideration of:
    • Attractiveness of individual investments
    • Macroeconomic environment

Portfolio Construction

  • Typically 80-100 stock portfolio
  • Individual positions typically range from 0.30% to 3.00% — average position size of around 1.00%
  • Country and sector weights generally range +/- 15% deviation from the benchmark
  • Maximum of 10% in emerging markets
  • Reserves range from 0% to 10%

Holdings

Total
Holdings
93
Largest Holding JPMorgan Chase 2.97% Was (30-Jun-2019) 2.54%
Other View Full Holdings Quarterly data as of 30-Sep-2019
Top 10 Holdings 22.36% View Top 10 Holdings Monthly data as of 30-Sep-2019

Top Purchase

Edison International (N)
1.12%
Was (30-Jun-2019) 0.00%

Top Sale

Verizon Communications (E)
0.00%
Was (30-Jun-2019) 1.86%

Quarterly Data as of 30-Sep-2019

Sectors

Total
Sectors
11
Largest Sector Financials 24.95% Was (30-Jun-2019) 22.79%
Other View complete Sector Diversification

Monthly Data as of 30-Sep-2019

Benchmark: MSCI World Index

Top Contributor^

Utilities
Net Contribution 0.62%
Sector
0.34%
Selection 0.29%

Top Detractor^

Consumer Staples
Net Contribution -0.26%
Sector
-0.07%
Selection
-0.19%

^Relative

Quarterly Data as of 30-Sep-2019

Largest Overweight

Financials
By9.25%
Portfolio 24.95%
Benchmark 15.70%

Largest Underweight

Consumer Discretionary
By-6.68%
Portfolio 3.87%
Benchmark 10.55%

Monthly Data as of 30-Sep-2019

Regions

Total
Regions
4
Largest Region North America 60.42% Was (30-Jun-2019) 61.24%
Other View complete Region Diversification

Monthly Data as of 30-Sep-2019

Benchmark: MSCI World Index

Top Contributor^

United States
Net Contribution 0.77%
Region
-0.05%
Selection 0.82%

Top Detractor^

Japan
Net Contribution -0.08%
Region
0.01%
Selection
-0.09%

^Relative

Quarterly Data as of 30-Sep-2019

Largest Overweight

Europe
By3.20%
Portfolio 24.34%
Benchmark 21.14%

Largest Underweight

North America
By-5.91%
Portfolio 60.42%
Benchmark 66.34%

Monthly Data as of 30-Sep-2019

Countries

Total
Countries
20
Largest Country United States 55.86% Was (30-Jun-2019) 57.30%
Other View complete Country Diversification

Monthly Data as of 30-Sep-2019

Benchmark: MSCI World Index

Largest Overweight

China
By3.18%
Portfolio 3.20%
Benchmark 0.01%

Largest Underweight

United States
By-7.00%
Portfolio 55.86%
Benchmark 62.86%

Monthly Data as of 30-Sep-2019

Team (As of 31-Aug-2019)

Sebastien Mallet

Sebastien Mallet is a portfolio manager in the Equity Division at T. Rowe Price, managing the Institutional Global Value Strategy. Mr. Mallet is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

Mr. Mallet has 19 years of investment experience, 14 of which have been at T. Rowe Price. Prior to joining the firm in 2005, he was a telecom banker at Credit Suisse First Boston in the Tokyo and London offices. Mr. Mallet started his career as a financial analyst with France Telecom, based in Guangzhou, China, and Madrid, Spain.

Mr. Mallet earned an M.A., with honours, in finance from the University of Paris and an M.B.A. from the London Business School.

  • Portfolio manager
    since
    2012
  • Years at
    T. Rowe Price
    14
  • Years investment
    experience
    18
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
    10
  • Years investment
    experience
    19
Kurt A.  Umbarger

Kurt Umbarger is the regional head of the Equity Investment Specialist Group of T. Rowe Price. Previously, he was a global equity portfolio specialist in the International Equity Division. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.

Mr. Umbarger has 26 years of investment experience, all of which have been at T. Rowe Price. He joined the firm in 1992 and has been a portfolio specialist since 2001.  Prior to joining the global equity team in 2005, Mr. Umbarger worked with the international and emerging market equity teams. As a portfolio specialist, he has traveled the world, working closely with institutional clients, consultants, and prospects.

Mr. Umbarger earned a B.S. in finance from Towson University and an M.S.F. in finance from Loyola University Maryland. He also has earned the Chartered Financial Analyst designation and is a Series 6, 7, 63, and 65 registered representative.

  • Years at
    T. Rowe Price
    26
  • Years investment
    experience
    26
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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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