Posted inHead To Head

HEAD-TO-HEAD: Pinebridge versus T Rowe Price

FSA compares two global equity products: the Pinebridge Global Focus Equity Fund and the T Rowe Price Global Focused Growth Equity Fund.
by Rupert Walker

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Source: FE Analytics. Three-year cumulative returns in US dollars.

Performance

“The T Rowe Price Global Focus Growth Equity Fund has an excellent track record under Eiswert,” said McDermott.

It has outperformed the sector average in six out of the past seven calendar years, and cumulatively, this has resulted in five-year returns that are 3.5 times that of the sector average – 71.86% compared with 21.24%, according to FE Analytics data. Over one and three years it has also doubled sector returns, he added.

“The Pinebridge Global Focus Equity Fund is a minnow in comparison, with assets of $254m compared with around $1.5bn managed by the T Rowe fund, although it has been around some four years longer,” said McDermott

The fund has outperformed the sector average in three out of the past four calendar years of the managers’ tenure, but by a much smaller amount than the T Rowe fund.

“It had a particularly difficult 2018, losing 17.5% of its value – and losing some 6% more than the sector average and 11% more than the T Rowe fund,” he said.

However, the Pinebridge fund is still above the peer average. Cumulatively, the fund has marginally out-performed the sector over five years, but slightly underperformed over one and three years.

Discrete annual performance

 

Fund / Sector / Index %

2018

2017

2016

2015

2014
Pinebridge

-17.56

25.02

3.52

0.93

3.54
T. Rowe Price

-6.19

31.73

4.90

5.81

5.96
Sector – Int’l equity

-11.83

22.20

3.96

-2.73

2.78
MSCI AC World

-9.42

23.97

7.86

-2.36

4.16
 Source: FE Analytics

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