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Products November 20, 2008
T. Rowe Unveils Global Equity Offerings
T. Rowe Price launched the Global Large-Cap and Global Real Estate strategies with offerings tailored for institutional and retail investors as well as shares available through advisers.
Reported by Fred Schneyer
A news release said the Global Large-Cap and Global Real Estate strategies will use fundamental analysis and a bottom-up approach to selecting stocks. Analysts in Europe, Asia, and the Americas will contribute their ideas and stock picks to the portfolios.
“Global investments are becoming an increasingly important component of investors’ portfolios,” said Bill Stromberg, director of Global Equities, in the release. “We’re positioning our investment offerings for the long term. We have been strategically expanding our global research capabilities and now have more than one-third of our equity research team based outside the United States. A robust lineup of global investment strategies offers clients durable diversification value.”
According to the firm, the Global Large-Cap strategy seeks long-term growth of capital by investing almost all of its assets in stocks of larger companies in at least five countries, including the United States. At least 40% of its net assets will be in companies outside the U.S. The strategy will take a growth-oriented approach to selecting stocks. Scott Berg, who has six years of experience with T. Rowe Price, will manage the Global Large-Cap strategy.
The Global Real Estate strategy seeks long-term growth through capital appreciation and current income by investing at least 80% of its net assets in equity securities of real estate companies throughout the world. It can also invest in companies related to the real estate industry.
The strategy will not directly own real estate and has no restrictions on the size of companies in which it can invest. Normally, it will invest at least 40% of its net assets in real estate companies outside the United States.
A significant portion of the strategy’s U.S. investments will be in real estate investment trusts (REITs), particularly equity REITs. Other investments in the U.S. and a significant portion of investments outside the U.S. may include real estate operating companies (REOCs), T. Rowe Price said.
The Global Real Estate strategy will be managed by David Lee.