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Notification Warning


  1. The Fund is actively managed and invests mainly in a diversified portfolio of shares of Chinese companies and may have significant exposure to smaller capitalisation companies.
  2. Investment in the Fund involves risks, including general investment risk, equity market risk, geographic concentration risk, small and mid-capitalisation shares risk, risks associated with SME board, ChiNext market and STAR board, risks associated with the Stock Connect, emerging markets risk, risk associated with high volatility of equity markets in emerging countries (including China), risk associated with regulatory/exchanges requirements of the equity markets in emerging countries (including China), renminbi (RMB) currency and conversion risks, PRC tax risk, risks associated with depositary receipts and currency risk which may result in loss of a part or the entire amount of your investment.
  3. The Fund may use derivatives for hedging and efficient portfolio management and is subject to derivatives risk. Exposure to derivatives may lead to a risk of significant loss by the Fund.
  4. The value of the Fund can be volatile and could go down substantially.
  5. Investors should not invest in the Fund solely based on this website.
T. Rowe Price Funds SICAV

China Evolution Equity Fund

Seeks to identify rising stars in China's sea change.

Holistic approach to China equity investing
  • Seek attractive investment opportunities across Chinese companies listed both onshore and offshore
  • Being benchmark-unconstrained, the fund manager takes a truly active approach
Investing in change
  • Identify change in business fundamentals or investor behaviour 
  • We believe mispricing could arise in areas where future fundamentals will be different from the past 
Looking beyond the obvious¹ 
  • The team seeks to go beyond the top 100 mega-cap names and focus on the less efficient part of the market
  • That translates roughly to a market cap range of US$25-30 billion or below today

¹ Source: MSCI, FactSet. Financial data and analytics provider FactSet. Copyright 2021 FactSet. All Rights Reserved. As of 30 June 2021. The top mega-cap names and market cap cut-off could evolve with changing market dynamics over time.

Wenli Zheng, Portfolio Manager

In this video, Wenli Zheng answers questions about the China Evolution Equity Strategy.

China Evolution Equity Fund

Class A

Inception Date

10 August 2020

Base currency


Management Fee

Up to 1.70% p.a.

ISIN code


Bloomberg code



MSCI China All Shares Net Index

Full details of the fees payable by investors are available within the offering document. 
This benchmark is shown for comparison purposes only.

A word from our founder

“Change is the investor's only certainty.”

Thomas Rowe Price, Jr. / Founder

Why T. Rowe Price?

Our competitive edge

Heritage of success

Established in 1937, we are a diversified business, having been investing in emerging markets since 1980. Our demonstrated track record across markets lends confidence to investors.

Scale and size

We manage over US$41.79 billion of assets² in China related equities, covering both securities listed in mainland China and on offshore exchanges.

Research is in our DNA

The breadth and depth of our 356 global research professionals³ provide a critical information edge to find the best investment ideas.

² All figures as at 31 March 2021. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates. 

³ As of 31 March 2021. 14 sector portfolio managers, 191 investment analysts, 67 associate research analysts, 58 quantitative analysts, and 26 specialty analysts. 


China Equity Insights

Ready to invest in China Equity?

Standard Chartered Bank is our exclusive distributor for the Fullerton SGD Heritage Series. Please reach out to Standard Chartered Bank for further enquiries.

Call bank hotline at

1800 242-5333

Call bank hotline at

1800 242-5333

Call bank hotline at

1800 242-5333

Contact your financial advisor if you are an individual interested in investing.

Additional Disclosures

MSCI 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.

Important Information

Unless otherwise stated, all data is as of 31 March 2021 and sourced from T. Rowe Price. Certain numbers in this website may not add due to rounding and/or the exclusion of cash.

This website is being furnished for general informational purposes only. The website does not constitute or undertake to give advice of any nature, including fiduciary investment advice, nor is it intended to serve as the primary basis for an investment decision. Prospective investors are recommended to seek independent legal, financial and tax advice before making any investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc. and/or its affiliates receive revenue from T. Rowe Price investment products and services. Past performance is not a reliable indicator of future performance. 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.

The website does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The website has not been reviewed by any regulatory authority in any jurisdiction.

Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources’ accuracy or completeness. There is no guarantee that any forecasts made will come to pass.

Investment involves risks. Investors should refer to the offering documents for full details including the objectives, investment policies and risks factors.