T. Rowe Price Concentrated Global Equity Strategy
Conditions will change, the destination stays the same.
A global style-balanced, concentrated portfolio with a focus on high quality companies and supported by a world-class research engine.
Approach
Quality companies for changing conditions
The portfolio is built from the bottom-up, with a focus on strong businesses with durable competitive advantages across a wide range of companies. Constructing a style-balanced portfolio of companies including disruptors, steady growers, or cyclicals and turnarounds is how we believe we will be able to add value for clients over the long term, through changing market environments.
Cyclicals and turnarounds
Companies possessing a change catalyst and positioned at a favourable point of the cycle:
- Corebridge Financial
- Valero Energy
- Steel Dynamics
Steady growth
Compounding growth companies in low volatile, less cyclical industries:
- Linde
- Danaher
- Taiwan Semiconductor Manufacturing
Disruptors
Earlier-stage, higher growth companies we believe are positioned on the right side of change:
- Adyen
- Eli Lilly and Co
Portfolio Holdings are for illustrative purposes only, as of 31 March 2025. See Additional Information below.
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Value of AUD 10,000 invested since inception* in Global Select Equity Composite1
1 Global Select Equity is marketed in Australia as Concentrated Global Equity.
Past performance is no guarantee or a reliable indicator of future results.
* Since inception date: 31 December 2020.
Benchmark: MSCI World Index Net Index (see Additional Disclosures). Index returns shown with reinvestment of dividends after the deduction of withholding taxes.
Due to a short track record of T. Rowe Price Concentrated Global Equity Fund, the performance referenced is for the corresponding strategy's composite (i.e. Global Select Equity Composite). However, this information should not be an indication that the Fund would achieve similar results. Please see the GIPS® Composite Report for additional information on the composite.
This chart is for illustrative purposes only. Performance numbers quoted in AUD as of 31 March 2025 and are Gross of Fees. Gross performance returns are presented before management and all other fees, where applicable, but after trading expenses. Gross performance returns reflect the reinvestment of dividends and are net of all non-reclaimable withholding taxes on dividends, interest income, and capital gains. Returns shown would be lower when reduced by the advisory fees and any other expenses incurred in the management of an investment advisory account.
Valuations and performance are computed in U.S. dollars and converted to AUD. When converting U.S. dollar composite returns, benchmarks, dispersion, and/or asset data, the same exchange rate source is used consistently. Total returns in non-U.S. dollar currencies are calculated by adjusting U.S. dollar performance by the percent change in the U.S. dollar/foreign currency exchange rate (as determined by an independent third party) for the time periods stated.
Ways to invest
The T. Rowe Price Concentrated Global Equity Strategy is available as both a Fund and Separately Managed Account (SMA) depending on your individual client needs.
T. Rowe Price Concentrated Global Equity Fund (I Class)
APIR: ETL8650AU
| Inception date | 15 December 2021 |
| Benchmark | MSCI World ex-Australia Index Net (unhedged) |
| No. of holdings | 30 - 45 stocks |
| Management fee | 0.85% pa2 |
| Ratings | Lonsec: 4 - Recommended Zenith: Recommended |
Fund literature
Invest via platform
The T. Rowe Price Concentrated Global Equity Fund is available via Macquarie Wrap, CFS Edge, Netwealth, Hub24, BT Panorama and Powerwrap.
Past performance is no guarantee or a reliable indicator of future results.
2 The Management Fee for the T. Rowe Price Concentrated Global Equity Fund – I class is 0.85% p.a. and the Indirect Cost is 0.00% p.a.. Full details of other fees and charges are available within the Fund's Product Disclosure Statement and Reference Guide.
Fund and SMA comparison1
| Feature | Fund (AUT) | Separately Managed Account (SMA) |
| Beneficial ownership | Client hold units in a pooled fund | A separate account is set up for each client who is the beneficial owner of the underlying securities |
| Transparency | Clients can generally view underlying investments on a regular basis | Clients can see the individual securities that are held within an SMA portfolio at any time. |
| Taxation2 | Capital gains tax liabilities are shared across all investors | Each client will have an individual cost base for their listed securities, so there are no tax consequences as a result of transactions from other investors |
1 Differences between compared investments may include sales and management fees, liquidity, volatility, tax features, holdings and other features, which may result in differences in performance.
2 T. Rowe Price does not provide tax guidance or advice.
Why T. Rowe Price?
Equity assets under management^
Equity professionals
Equity experience
Peter J. Bates, CFA®
Portfolio Manager
View our latest equity articles
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Additional Information
Source. T. Rowe Price.
Portfolio Holdings are for illustrative purposes only, as of 31 March 2025.
The specific securities identified and described are for informational purposes only and do not represent recommendations or statement of opinion intended to influence a person or persons in making a decision in relation to investment. They do not represent the full portfolio. The specific securities identified and described do not represent all of the securities purchased, sold, or recommended for the portfolio, and no assumptions should be made that the securities identified and discussed were or will be profitable.
Additional Disclosures
All data as of 31 December 2024 unless otherwise stated.
^The total equity assets managed by T. Rowe Price Associates, Inc., and its investment advisory affiliates. Total equity assets include all equity separate accounts and funds along with a portion of certain T. Rowe Price U.S.-registered multi-asset funds as of 31 December 2024.
Source for MSCI data: MSCI and its affiliates and third party sources and providers (collectively, “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. Historical MSCI data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.
Important Information
Available in Australia for Wholesale Clients only. Not for further distribution.
Equity Trustees Limited (“Equity Trustees”) (ABN: 46 004 031 298, AFSL: 240975), is the Responsible Entity for the T. Rowe Price Australian Unit Trusts ("the Fund"). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN: 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).
This material has been prepared by T. Rowe Price Australia Limited ("TRPAU") (ABN: 13 620 668 895, AFSL: 503741) to provide you with general information only. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither TRPAU, Equity Trustees nor any of its related parties, their employees or directors, provide and warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it.
Past performance is no guarantee or a reliable indicator of future results. You should obtain a copy of the Product Disclosure Statement, which is available from Equity Trustees (www.eqt.com.au/insto) or TRPAU (www.troweprice.com.au), before making a decision about whether to invest in the Fund named in this material.
The Fund’s Target Market Determination is available here (www.eqt.com.au/trprice). It describes who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where the Target Market Determination for this financial product may need to be reviewed.
202504-4347699