SICAV
Emerging Markets Equity Fund
A diversified portfolio of approximately 90-120 emerging markets stocks, unconstrained by country, sector, or market cap. We aim to identify high quality companies with long-term sustainable above-market earnings growth, at prices that do not fully reflect that growth.
ISIN LU0133084979
View more information on risks
FACTSHEET
KIID
FUND PROFILE
COMMENTARY

The commentaries as of the previous month end are not available. Please check back soon.

Risk & Reward ?
(SRRI)
1 2 3 4 5 6 7 Data as of: 30-Sep-2021
NAV
(USD)
$49.30
Data as of: 22-Oct-2021
1YR Return
(Annualised)
11.33%
Data as of: 30-Sep-2021
Fund Size
(USD)
$2.2b
Data as of: 30-Sep-2021
Perf Change
(Daily)
0.57%
Data as of: 22-Oct-2021
3YR Return
(Annualised)
9.02%
Data as of: 30-Sep-2021

Overview
Strategy
Fund Summary
We have a bottom-up, long-term approach, driven by fundamental research. Our company research focuses on franchise strength, management team quality, free cash flow, and financing structure. Corporate governance is strongly embedded within our investment process, as is the consideration of critical macroeconomic and political factors.
SMALL-CAP
MID-CAP
LARGE-CAP

94
Holdings

Style
Growth
Risk & Reward Data
Information Ratio
0.01
Sharpe Ratio
0.47
Historical Tracking Error
3.30%
01 April 2021

Effective 1 April 2021, Eric Moffett and Malik Asif assumed co-portfolio management responsibility for the Emerging Markets Equity Fund.

Performance - Net of Fees
Current Year Performance
MTD
3.86%
Benchmark*
3.24%
Excess Return

0.62%
QTD
3.86%
Benchmark*
3.24%
Excess Return

0.62%
YTD
-3.05%
Benchmark*
1.95%
Excess Return

-5.00%
Data as of 22-Oct-2021
1 Month
-4.08%
Benchmark*
-3.97%
Excess Return

-0.11%
3 Months
-9.32%
Benchmark*
-8.09%
Excess Return

-1.23%
Data as of 30-Sep-2021
 
Annualised Performance
1 YR
11.33%
Benchmark*
18.20%
Excess Return

-6.87%
3 YR
9.02%
Benchmark*
8.58%
Excess Return

0.44%
5 YR
9.26%
Benchmark*
9.23%
Excess Return

0.03%
10 YR
7.30%
Benchmark*
6.09%
Excess Return

1.21%
Manager Inception
10.52%
Benchmark*
9.08%
Excess Return

1.44%
Data as of 30-Sep-2021
Indicative Benchmark : MSCI Emerging Markets Index Net
Fund Inception: 02-Dec-2003
Manager Inception: 31-Mar-2009

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Holdings
Total
Holdings
94
Largest
Taiwan Semiconductor Manufacturing
9.63%
Was ( 30-Jun-2021 )

9.72%
Top 10
41.97%
Contributor
China Mengniu Dairy
By 0.17%
% of fund
2.71%
Detractor
Tencent Holdings
By -0.88%
% of fund
6.56%
Purchase
Yum China Holdings
2.54%
Was ( 30-Jun-2021 )
1.27%
Sale
Alibaba Group Holding
2.77%
Was ( 30-Jun-2021 )
3.90%
Data as of 30-Sep-2021
Sectors
Total
Sectors
9
Largest
Information Technology
24.39%
Was ( 31-Aug-2021 )
24.04%
Contributor
Information Technology
By 0.28%
Sector
0.08%
Selection
0.20%
Detractor
Energy
By -0.87%
Sector
-0.87%
Selection
0.00%
Data as of 30-Sep-2021
Over
Consumer Staples
By 9.20%
Fund
15.10%
Benchmark*
5.90%
Under
Materials
By -8.66%
Fund
0.00%
Benchmark*
8.66%
Data as of 30-Sep-2021
Data as of 30-Sep-2021
Indicative Benchmark: MSCI Emerging Markets Index

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Regions
Data as of
Countries
Total
Countries
25
Largest
China
31.67%
Was ( 31-Aug-2021 )
29.99%
Contributor
Argentina
By 0.32%
Country
0.49%
Selection
-0.16%
Detractor
India
By -0.86%
Country
-0.62%
Selection
-0.25%
Data as of 30-Sep-2021
Over
Hong Kong
By 4.24%
Fund
4.24%
Benchmark*
0.00%
Under
India
By -3.14%
Fund
9.04%
Benchmark*
12.18%
Data as of 30-Sep-2021
Data as of 30-Sep-2021
Indicative Benchmark: MSCI Emerging Markets Index

* The index shown is not a formal benchmark. It is shown only for comparison purposes.


Team
Gonzalo Pángaro,
Co-Portfolio Manager
Gonzalo Pángaro is the lead portfolio manager for the firm's Emerging Markets Equity Strategy and is chairman of the strategy's Investment Advisory Committee. Mr. Pángaro assumed portfolio management responsibilities in 2004.
Co-Portfolio Manager since
2009
Years at
T. Rowe Price
22
Years investment experience
29
Malik Sarmad Asif,
Co-Portfolio Manager
Malik Sarmad Asif is a co-portfolio manager of the Global Emerging Markets Equity Strategy. He is a member of the Emerging Markets Stock Investment Advisory Committee.
Co-Portfolio Manager since
2021
Years at
T. Rowe Price
9
Years investment experience
16
Eric C. Moffett,
Co-Portfolio Manager
Eric Moffett is a portfolio manager in the International Equity Division. He manages the Asia Opportunities Equity Strategy and is chairman of the strategy's Investment Advisory Committee.
Co-Portfolio Manager since
2021
Years at
T. Rowe Price
14
Years investment experience
20
Charles Knudsen,
Portfolio Specialist
Chuck Knudsen is a portfolio specialist in the Equity Division of T. Rowe Price.
Years at
T. Rowe Price
15
Years investment experience
33
How to Invest
Fees Minimum Initial Investment and Holding Amount Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1

Indicative Benchmark Data Source: MSCI. MSCI and its affiliates and third party sources and providers (collectively, “MSCI”) makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. Historical MSCI data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Past performance is not a reliable indicator of future performance.

Source for performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges (up to a maximum of 5% for the A Class), taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.

Daily performance data is based on the latest available NAV.  

The Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital which is registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective investment in transferable securities (“UCITS”). Full details of the objectives, investment policies and risks are located in the prospectus which is available with the key investor information documents in English and in an official language of the jurisdictions in which the Funds are registered for public sale, together with the articles of incorporation and the annual and semi-annual reports (together “Fund Documents”). Any decision to invest should be made on the basis of the Fund Documents which are available free of charge from the local representative, local information/paying agent or from authorised distributors and via www.troweprice.com.

Please note that the Fund typically has a risk of high volatility.

Hedged share classes (denoted by 'h') utilise investment techniques to mitigate currency risk between the underlying investment currency(ies) of the fund and the currency of the hedged share class.  The costs of doing so will be borne by the share class and there is no guarantee that such hedging will be effective.

The specific securities identified and described in this website do not represent all of the securities purchased, sold, or recommended for the sub-fund and no assumptions should be made that the securities identified and discussed were or will be profitable.

Attribution Data: Analysis represents the total performance of the portfolio as calculated by the FactSet attribution model and is inclusive of other assets that that will not receive a classification assignment in the detailed structure shown. Returns will not match official T. Rowe Price performance because FactSet uses different exchange rate sources and does not capture intra-day trading. Performance for each security is obtained in the local currency and, if necessary, is converted to U.S. dollars using an exchange rate determined by an independent third party. Figures are shown with gross dividends reinvested.

Sources: Copyright © 2021 FactSet Research Systems Inc. All rights reserved. MSCI/S&P GICS Sectors; Analysis by T. Rowe Price Associates, Inc. T. Rowe Price uses the MSCI/S&P Global Industry Classification Standard (GICS) for sector and industry reporting. Each year, MSCI and S&P make changes to the GICS structure. The last change occurred on September 28, 2018. T. Rowe Price will adhere to all future updates to GICS for prospective reporting.

The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of Morgan Stanley Capital International Inc, ("MSCI") and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P") and is licensed for use by [Licensee]. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or impIied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any or such standard or classification, Without limiting any or the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

A full list of the currently issued Share Classes including Distributing, Hedged, and Accumulating Categories may be obtained, free of charge and upon request, from the registered office of the Company.  

1 Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.

The Morningstar rating is sourced from Morningstar.

©2021 Morningstar, Inc.  All Rights Reserved.  The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely.  Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Citywire - where the Fund manager is rated by Citywire the rating is based on the manager's 3 year risk adjusted performance.