T. Rowe Price has introduced a new core US equity fund as a Luxembourg-based SICAV, dubbed the US Structured Research Equity fund.
The fund will work off the existing US-domiciled strategy which holds $65bn assets under management and operates with 200 to 275 holdings. The exposures and industries mirror the S&P 500, with stock selection made by about 30 analysts on the US equity research team.
The US-domiciled fund has outperformed the sector by 7.7% over the past three years, and 2.9% over the past five years, according to data from FE Fundinfo.
Nat Terry, head of UK and Ireland, said: “With a track record of investing in the US stock market spanning more than 85 years, T. Rowe Price has an unparalleled understanding of American industries and companies.
“We pride ourselves on our bottom-up fundamental research, so it is extremely pleasing to offer UK investors access to a portfolio that harnesses the best of what we do. A core US equity allocation, this strategy has consistently outperformed the S&P 500 index for more than two decades, irrespective of market direction. This launch is being supported with attractive terms for founding shareholders.”
T. Rowe Price holds $595bn assets under management in US equities and $1.35trn of AUM in total.