T. Rowe Price Concentrated Global Equity Fund awarded Lonsec Recommended Rating at inaugural review

T. Rowe Price, a leading global asset manager with over US$1.48 trillion in assets under management, has announced that investment management research house Lonsec has awarded the T. Rowe Price Concentrated Global Equity Fund (I-Class) (the “Fund”), and its Separately Managed Account (SMA) version, both a “Recommended” rating at its inaugural review.

Lonsec highlighted the Baltimore-based Portfolio Manager, Peter Bates, as a capable, high quality and passionate investor, who was well-aligned to the success of the Fund and SMA. Bates’ nearly two-decade tenure with the firm and the well-resourced and experienced Global Equity Research Platform were recognised as key competitive advantages. The platform comprises 183 research professionals in T. Rowe Price offices across America, Europe and Asia-Pacific, making it one of the largest in the peer group, according to Lonsec.

Bates aims to construct a global and style-balanced portfolio comprising approximately 30-45 stocks that represent the firm’s highest conviction ideas. His bottom-up stock picking is focused on three types of companies: 1) Cyclicals and turnarounds; 2) Steady growers; and 3) Disruptors. Lonsec highlighted that a key aspect of his investment process is the use of a ‘return matrix’ for each invested and prospective company on his watchlist. This process assigns economic scenarios to each company which allows a more precise risk and return analysis and helps to neutralise portfolio-defining exposures to macro variables and factors.

“We’re pleased that Lonsec recognised the strength of our investment research platform, Peter’s portfolio management expertise as well as our long and successful business track record in Australia. Advisers have been using this style-balanced and risk-management equity investment solution as a core component in their portfolios. We believe that active management, driven by bottom-up fundamental research, can uncover opportunities regardless of the market environment,” said Darren Hall, T. Rowe Price’s Country Head and Head of Distribution for Australia and New Zealand.

“We are fully committed to strengthening our presence in the local market by expanding our range of high- quality investment solutions, given that Australia holds a significant position as the second largest market for T. Rowe Price in the Asia Pacific region. Advisers have appreciated our firm’s stability, scale and long- term horizon when selecting T. Rowe Price products,” Hall said.

The T. Rowe Price Concentrated Global Equity SMA is available on CFS Edge & Praemium.