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T. Rowe Price European Smaller Companies

Elite Rated by FundCalibre

The fund is pan-European, investing around 30% in the UK, and its manager is highly experienced, with a proven track record managing small- and mid-cap portfolios in Europe. He is part of a dedicated smaller companies analyst team, utilising an integrated investment process that emphasises fundamental stock selection and rigorous portfolio construction.

Company Description

Founded in 1937, T. Rowe Price is one of the world’s largest investment managers and was awarded the Elite Provider for Equities Rating in 2016. Fundamental research is at the heart of T. Rowe Price, which has 215 in-house analysts dedicated to equity and fixed income research. T. Rowe Price also believes in experience, with portfolio managers at the group having an average of 21 years of experience.

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Fund Manager

Ben joined T. Rowe Price in 2006 as an analyst covering European smaller companies. He has 16 years of investment experience and previously managed Baillie Gifford’s former Smaller Companies fund for 3 years. Ben has co-managed this fund since 2008, taking the lead role in January 2016. He is a CFA charterholder and achieved a Masters in Engineering at Oxford University.

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Our mission: early identification of long-term opportunities.

Ben Griffiths - Fund Manager

The Investment Process

The research process emphasises high quality, durable franchises with good capital allocation and high standards of corporate governance. The team’s universe of stocks is less well covered, giving them plenty of scope to find unloved and undervalued companies. Buying early or in a contrarian fashion with a long-term view allows them to compound their winners.

Risk

The manager is happy for the fund to be quite different from the benchmark. So risk management is controlled through rigorous analysis and careful portfolio construction – not risk avoidance. Investors should also be aware of the currency risk.

Our Opinion

This is an excellent pan-European smaller companies fund run by a very experienced manager, with the backing of a dedicated team and all the resources that T. Rowe Price can provide.

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©2014 FundCalibre Limited. All Rights Reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FundCalibre, (2) may not be copied or redistributed without prior permission, (3) do not constitute investment advice offered by FundCalibre, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a fund, and (5) are not warranted to be correct, complete, or accurate. FundCalibre shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. The Elite Fund rating is subjective in nature and reflects FundCalibre’s current expectations of future events/behaviour as they relate to a particular fund. Because such events/behaviour may turn out to be different than expected, FundCalibre does not ,guarantee that a fund will perform in line with its FundCalibre benchmark. Likewise, the Elite Fund rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision. FundCalibre disclaims any responsibility for trading decisions, damages or other losses resulting from any use of the Elite Fund rating.