The T. Rowe Price Concentrated Global Equity SMA is a global style-balanced, concentrated portfolio with a focus on high quality, industry-leading companies that we believe can perform well in any market. We build the portfolio from the bottom-up, with a focus on idiosyncratic opportunities while seeking to neutralise portfolio-defining exposures to macro variables and factors.

Given our ability to invest across the broad geographic and sectoral universe, we use our extensive global research platform to help maximise our opportunity set. With a framework emphasising business quality and risk control, we are focused on stock-specific outcomes rather than macro-specific outcomes. Within the portfolio, we predominantly own steady growers with long growth runways that can durably compound over time, but also have exposure to disruptors with the potential to deliver outlier returns, and cyclicals and turnarounds where fundamentals are inflecting.

ESG considerations are an important component in assessing quality and long-term sustainability of the companies in which we invest, but above all, we focus on investing in profitable, mature, and globally established businesses that are well managed and capable of generating solid revenue and cash flow; qualities we believe can create long-term shareholder value, regardless of the market environment.