Since the start of the year, global large-cap growth equity funds have underperformed the broader global equity market. However, this short-term underperformance should not obscure the long-term appeal of the growth style.
For long-term investors, periods of relative weakness can even provide attractive opportunities to gain exposure to some of the best-managed growth funds.
What Are Global Large-Cap Growth Equity Funds?
Global large-cap growth portfolios invest in growth stocks with large market capitalizations, allocating at least 20% to North America and 15% to Greater Europe. Growth stocks are characterized by high growth rates in terms of earnings, sales, book value, and cash flow, as well as high valuations relative to earnings.
The Best Global Large-Cap Growth Equity Funds to Buy in 2026
To find the best global large-cap growth funds to buy, we screened for the lowest-cost primary share classes earning a
- T. Rowe Price Global Focused Growth Equity Fund
- GQG Partners Global Equity Fund
- Capital Group New Perspective Fund (LUX)
- Schroder ISF Global Innovation
Because the screen was created with the lowest-cost share class for each fund, some may be listed with share classes that are not accessible to individual investors, or they may be aimed at institutional investors and require large minimum investments. The individual investor versions of those funds may carry higher fees, reducing returns to shareholders. Medalist Ratings may differ among the share classes of a fund.
Morningstar expects the highly rated global large-cap growth funds on this list to outperform their peers over a full market cycle.
These four funds have one thing in common: They have significantly outperformed their category average over the past five years.
Here’s a quick look at some standout picks from the best global large-cap growth funds. Be sure to review a fund’s complete report for more details.
T. Rowe Price Funds SICAV - Global Focused Growth Equity Fund
Adam Sabban, fund analyst for Morningstar, says: “Many investment managers prefer a stable market environment, but this strategy’s skipper is always on the hunt for change. Manager David Eiswert has built a great track record on the back of strong stock selection, timely trades, and the mental flexibility to pivot away from profitable trends before they sour.”
Over the past year, the actively managed T. Rowe Price Funds SICAV - Global Focused Growth Equity Fund rose 38.38%, while the average global large-cap growth equity fund gained 15.84%. The fund outperformed 94% of peers and beat its benchmark, the Morningstar Global Growth Target Market Exposure Index, by 12.3 percentage points. The EUR 4.3 billion fund has climbed 21.51% over the past three years, outperforming the average fund in its category, which rose 12.45%. Over the past five years, the T. Rowe Price fund is up 10.86%, while the average fund in its category is up 6.74%.
Schroder ISF Global Innovation
Ramanand Kothari, fund analyst for Morningstar, says: “Schroders International Selection Fund Global Innovation is led by a strong portfolio management team, backed by the firm’s well-resourced and credible investment team. The team applies the firm’s established quality-growth investment approach, complemented by a thematic framework that has evolved into a structured, repeatable, and institutionalized one.”
The EUR 611.3 million Schroder International Selection Fund Global Innovation rose 26.59% over the past year. The gain on the actively managed fund beat the 15.84% gain on the average fund in the global large-cap growth equity category, outperforming 81% of peers. The fund performed roughly in line with its benchmark, the Morningstar Global Growth Target Market Exposure Index. Over the past three years, the Schroders fund rose 18.68%, while the average fund in its category rose 12.45%. Over the past five years, the fund has climbed 11.52%, compared to the 6.74% gain for the category.
Capital Group New Perspective Fund
Stephen Welch, fund analyst for Morningstar, says the fund “continues to benefit from an accomplished management roster and a deep global analyst bench, even as it undergoes a long-planned leadership transition. Although the strategy lost a veteran manager last year and will see another departure this year, Capital Group has executed the leadership transition thoughtfully, and the strategy remains in capable hands.”
The actively managed Capital Group New Perspective Fund gained 17.74% over the past year, outperforming the average fund in the global large-cap growth equity category, which rose 15.84%. The fund lagged its benchmark, the Morningstar Global Growth Target Market Exposure Index, by 8.34 percentage points. The EUR 17.9 billion fund has gained 15.81% over the past three years, while the average fund in its category is up 12.45%. Over the past five years, the Capital Group fund has climbed 9.7%, compared to a 6.74% gain for the category.
GQG Partners Global Equity Fund
Gregg Wolper, fund analyst for Morningstar, says: “Rajiv Jain and his team continue to rely on the same creative and successful “quality growth” approach here that he has used at various strategies since the late 1990s. Jain wants reliably growing companies, but only if they’re on solid financial footing and preferably demonstrate the ability to weather slow economies. In recent years, Jain has become more wary of popular companies whose valuations he considers excessive based on a realistic view of their future growth prospects. As a result, the portfolio can land in the blend or value portions of the style box rather than growth. Sectors or countries can be heavily over- or underweighted."
The EUR 3.5 billion GQG Partners Global Equity Fund rose 4.31% over the past year. The gain on the actively managed fund was shy of the 15.84% gain on the average fund in the global large-cap growth equity category, underperforming 80% of peers. The fund lagged its benchmark, the Morningstar Global Growth Target Market Exposure Index, by 21.77 percentage points. Over the past three years, the GQG Partners fund rose 9.87%, while the average fund in its category rose 12.45%. Over the past five years, the fund has climbed 9.53%, compared to the 6.74% gain for the category.
