SICAV
Global Growth Equity Fund
Seeking to select superior stocks from the broadest global equity opportunity set.
ISIN LU0382933116
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COMMENTARY

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Risk & Reward ?
(SRRI)
1 2 3 4 5 6 7
NAV
(USD)
$40.56
1YR Return
(Annualised)
-7.60%
Fund Size
(USD)
$395.7m
Perf Change
(Daily)
1.02%
3YR Return
(Annualised)
8.36%

Overview
Strategy
Fund Summary
High conviction, truly global equity portfolio seeking to invest in companies with above-average and sustainable growth characteristics.
SMALL-CAP
MID-CAP
LARGE-CAP

160
Holdings

Style
Growth
Risk & Reward Data
Information Ratio
0.68
Sharpe Ratio
0.52
Historical Tracking Error
4.04%
01 July 2018

Indicative Benchmark

Effective July 1, 2018, 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.

01 July 2018

Indicative Benchmark

Effective July 1, 2018, 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.

Performance - Net of Fees
Current Year Performance
MTD
7.99%
Benchmark*
6.17%
Excess Return

1.82%
QTD
7.99%
Benchmark*
6.17%
Excess Return

1.82%
YTD
7.99%
Benchmark*
6.17%
Excess Return

1.82%
Data as of 18-Jan-2019
1 Month
-6.50%
Benchmark*
-7.04%
Excess Return

0.54%
3 Months
-12.04%
Benchmark*
-12.75%
Excess Return

0.71%
Data as of 31-Dec-2018
 
Annualised Performance
1 YR
-7.60%
Benchmark*
-9.42%
Excess Return

1.82%
3 YR
8.36%
Benchmark*
6.60%
Excess Return

1.76%
5 YR
7.02%
Benchmark*
4.26%
Excess Return

2.76%
10 YR
12.22%
Benchmark*
9.46%
Excess Return

2.76%
Manager Inception
13.89%
Benchmark*
10.51%
Excess Return

3.38%
Data as of 31-Dec-2018
Indicative Benchmark: MSCI All Country World Index Net
Fund Inception: 27-Oct-2008
Manager Inception: 27-Oct-2008

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Holdings
Total
Holdings
160
Largest
Amazon.com
3.65%
Was ( 30-Sep-2018 )

3.58%
Top 10
20.54%
Contributor
Tesla
By 0.51%
% of fund
2.12%
Detractor
Amazon.com
By -0.58%
% of fund
3.63%
Purchase
GE (N)
0.75%
Was ( 30-Sep-2018 )
0.00%
Sale
NextEra Energy
0.10%
Was ( 30-Sep-2018 )
0.84%
Data as of 31-Dec-2018
Sectors
Total
Sectors
11
Largest
Financials
18.17%
Was ( 30-Nov-2018 )
15.82%
Contributor
Financials
By 1.28%
Sector
0.01%
Selection
1.27%
Detractor
Health Care
By -0.77%
Sector
0.01%
Selection
-0.77%
Data as of 31-Dec-2018
Over
Consumer Discretionary
By 5.10%
Fund
15.53%
Benchmark*
10.43%
Under
Energy
By -2.74%
Fund
3.44%
Benchmark*
6.18%
Data as of 31-Dec-2018
Data as of 31-Dec-2018
Indicative Benchmark: MSCI All Country World Index

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Regions
Contributor
Pacific ex Japan
By 1.56%
Country
0.42%
Selection
1.14%
Detractor
Developed Europe
By -1.30%
Country
0.03%
Selection
-1.33%
Data as of 31-Dec-2018
Data as of
Countries
Total
Countries
31
Largest
United States
49.00%
Was ( 30-Nov-2018 )
50.19%
Over
India
By 5.79%
Fund
6.90%
Benchmark*
1.11%
Under
United States
By -5.22%
Fund
49.00%
Benchmark*
54.21%
Data as of 31-Dec-2018
Data as of 31-Dec-2018
Indicative Benchmark: MSCI All Country World Index

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Currency
Total
Currencies
23
Largest
U.S. dollar
61.95%
Was ( 30-Nov-2018 )
65.16%

Over
U.S. dollar
By 6.31%
Fund
61.95%
Benchmark*
55.64%
Under
Japanese yen
By -6.53%
Fund
1.05%
Benchmark*
7.58%
Data as of 31-Dec-2018
Indicative Benchmark: MSCI All Country World Index

* The index shown is not a formal benchmark. It is shown only for comparison purposes.


Team
Scott Berg,
Lead Portfolio Manager
Scott Berg is the portfolio manager for the T. Rowe Price Global Growth Equity Strategy.
Lead Portfolio Manager since
2008
Years at
T. Rowe Price
15
Years investment experience
15
Hari Balkrishna,
Portfolio Manager
Hari Balkrishna is an associate portfolio manager for the Global Growth Equity Strategy in the Equity Division of T. Rowe Price. Mr. Balkrishna has 10 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.
Years at T. Rowe Price
8
Years investment experience
10
Laurence Taylor,
Portfolio Specialist
Laurence Taylor is a portfolio specialist in the Equity Division at T. Rowe Price, representing the firm's global equity portfolio managers to institutional clients, consultants and prospects.
Years at
T. Rowe Price
8
Years investment experience
17
How to Invest
Fees Minimum Initial Investment and Holding Amount Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1

Benchmark Data Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI.

Source for 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 (up to a maximum of 5% for the A Class), taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures. Past performance is not a reliable indicator of future performance.

Daily performance data is based on the latest available NAV.  

The Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital which is registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective investment in transferable securities (“UCITS”). Full details of the objectives, investment policies and risks are located in the prospectus which is available with the key investor information documents in English and in an official language of the jurisdictions in which the Funds are registered for public sale, together with the articles of incorporation and the annual and semi-annual reports (together “Fund Documents”). Any decision to invest should be made on the basis of the Fund Documents which are available free of charge from the local representative, local information/paying agent or from authorised distributors and via www.troweprice.com.

Please note that the Fund typically has a risk of high volatility.

Hedged share classes (denoted by 'h') utilise investment techniques to mitigate currency risk between the underlying investment currency(ies) of the fund and the currency of the hedged share class.  The costs of doing so will be borne by the share class and there is no guarantee that such hedging will be effective.

The specific securities identified and described in this website do not represent all of the securities purchased, sold, or recommended for the sub-fund and no assumptions should be made that the securities identified and discussed were or will be profitable.

A full list of the currently issued Share Classes including Distributing, Hedged, and Accumulating Categories may be obtained, free of charge and upon request, from the registered office of the Company.  

1 Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.

The Morningstar rating is sourced from Morningstar.

©2019 Morningstar, Inc.  All Rights Reserved.  The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely.  Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Citywire - where the Fund manager is rated by Citywire the rating is based on the manager's 3 year risk adjusted performance.