The Harbour T-Rowe Price Global Equity Growth Fund has been issued a “4 IP” rating by Research IP, with a score of 4.12/5.
The Fund is constructed from the bottom-up, with companies the portfolio manager considers to have the best prospects. In an increasingly interconnected world, the manager is unconcerned which geography these companies are domiciled in and will have exposure to Emerging Markets. The manager, however, does not wish to introduce significant risk into the portfolio by having large deviations in sector weights, and seeks to keep the portfolio broadly sector neutral through time.
What is the Fund’s competitive advantage?
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https://platform.research-ip.com/funds/68345578
Research IP says
“The Harbour T-Rowe Price Global Equity Growth Fund is a high quality offering with a long track record and stable team. Harbour acknowledges its skill set is better suited to identifying an underlying manager, rather than manage a global portfolio inhouse, but does have the discretion to change the underlying manager.
The Portfolio Manager Scott Berg has 17 years of industry experience and has only ever worked at T.Rowe Price. Research IP highlights Berg’s judgement is a significant factor in constructing the portfolio. Accordingly, Berg represents significant key person risk, despite the size of the team directly related to this Fund.
The Fund is expected to be fully invested, with cash a result of cash flow management for the fund, rather than a conscious asset allocation decision. The Fund is also expected to be unhedged, however, it may actively hedge a portion of the Fund’s currency exposure.
Research IP notes that despite being a growth manager, the portfolio positions are typically longer-term holdings, at 3 years or more. This aligns with the Manager’s positioning for long term sustainability of a company’s revenue.”
Research IP, 11 May 2020
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