T. Rowe Price Funds SICAV - Global Focused Growth Equity Fund Q GBP

Global Growth

Rated Fund 2017-19. Concentrates on finding the best ideas

This Luxembourg-domiciled fund has been managed since 2012 by US-based David Eiswert. He takes an unconstrained, high-conviction approach. ­The fund’s portfolio consists of 60-80 of Eiswert’s best ideas.­ e top 10 holdings account for more than a quarter of assets.

He seeks to identify firms with sustainable competitive advantages, market share gains, positive change dynamics and shareholder-focused management. Although selection of the right companies is his first priority, he considers macroeconomic and local market factors to refine his analysis. He aims to construct a high-growth portfolio by emphasising improving business fundamentals and accelerating return on capital.

Th­e fund offers exposure to more than 15 countries. ­The US is its largest geographical weighting, at more than 50%. Th­e remaining assets are split between a host of countries, including China, Japan, Sweden, India and the UK.

Eiswert has high conviction in the technology sector, where 23% of the fund is invested. He points out that this is an area where rapid shifts in market share mean growth companies are plentiful regardless of the broader macroeconomic environment. He looks for innovative firms with potential to become market disruptors.

He says rapid growth in the use of the internet, particularly in Asia, has yielded many compelling opportunities. He favours the healthcare and consumer discretionary sectors, which account for 16.5% and 14% of assets respectively, due to the strong growth he sees in these areas.

Narrative and ratings content all as of 01 January 2019.

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Name
T. Rowe Price Funds SICAV - Global Focused Growth Equity Fund Q GBP
Manager
T. Rowe Price (Luxembourg) Management S.à r.l.
Type
SICAV
ISIN
LU1028172499
Sector
Global
Launched
31/01/2014
OCF
0.92 %
Risk Rating
4
3 Year Sharpe
1.61
3 Year Alpha
5.77
Yield
0 %
Benchmark
MSCI ACWI NR USD
The Fund’s objective is to provide long-term capital appreciation by investing primarily in a diversified portfolio of transferable equity and equity-related securities of companies listed on the world’s equity markets. The portfolio may include investments in the securities of companies listed on the stock exchanges of developing countries. The Fund will emphasise investment in companies that have the potential for above average and sustainable rates of earnings growth.
Holding %
Alphabet Inc A 3.87 %
Essity AB Class B 3.39 %
Amazon.com Inc 2.82 %
Tencent Holdings Ltd 2.76 %
Becton, Dickinson and Co 2.54 %
Sempra Energy 2.44 %
Alibaba Group Holding Ltd ADR 2.30 %
Intuitive Surgical Inc 2.17 %
NextEra Energy Inc 2.07 %
Facebook Inc A 2.04 %
Region %
United States 57.52 %
Asia - Emerging 12.06 %
Eurozone 6.76 %
Japan 6.35 %
Asia - Developed 5.20 %
Europe - ex Euro 5.13 %
Sector %
Technology 30.66 %
Financial Services 16.63 %
Healthcare 14.90 %
Consumer Cyclical 13.93 %
Industrials 11.22 %
Name
T. Rowe Price (Luxembourg) Management S.à r.l.
Address
L-1724, Luxembourg, Luxembourg
UCITS
Yes
Legal Structure
SICAV

Managers

David Eiswert
Joined 09/30/2012

David Eiswert is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. He is also a portfolio manager of the Global Focused Growth Equity Strategy, a role he has held since October 1, 2012. David is the president and chairman of the Investment Advisory Committee of the Global Stock Fund and the Institutional Global Focused Growth Equity Fund. Prior to his role with the Global Stock Fund, David managed the Global Technology Strategy for almost four years.

Data provided by Morningstar.

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