SICAV
Global Real Estate Securities Fund
Equity investment alert to the changing supply and demand dynamics of the global property market.
ISIN LU0382932225
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FACTSHEET
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COMMENTARY

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Risk & Reward ?
(SRRI)
1 2 3 4 5 6 7
NAV
(USD)
$28.55
1YR Return
(Annualised)
6.48%
Fund Size
(USD)
$10.6m
Perf Change
(Daily)
0.07%
3YR Return
(Annualised)
1.48%

Overview
Strategy
Fund Summary
Total-return growth over the long term by investing in a highly diversified portfolio of real estate securities.
SMALL-CAP
MID-CAP
LARGE-CAP

62
Holdings

Style
Agnostic
Risk & Reward Data
Information Ratio
-0.44
Sharpe Ratio
0.24
Historical Tracking Error
2.74%
01 April 2015

Portfolio Manager Update

Effective 1 April 2015, Nina P. Jones replaced David M. Lee as the portfolio manager.

01 April 2015

Portfolio Manager Update

Effective 1 April 2015, Nina P. Jones replaced David M. Lee as the portfolio manager.

Performance - Net of Fees
Current Year Performance
MTD
0.39%
Benchmark*
0.99%
Excess Return

-0.60%
QTD
1.53%
Benchmark*
1.34%
Excess Return

0.19%
YTD
16.25%
Benchmark*
16.04%
Excess Return

0.21%
Data as of 20-Aug-2019
1 Month
1.14%
Benchmark*
0.35%
Excess Return

0.79%
3 Months
2.05%
Benchmark*
1.62%
Excess Return

0.43%
Data as of 31-Jul-2019
 
Annualised Performance
1 YR
6.48%
Benchmark*
7.15%
Excess Return

-0.67%
3 YR
1.48%
Benchmark*
2.89%
Excess Return

-1.41%
5 YR
3.65%
Benchmark*
4.86%
Excess Return

-1.21%
10 YR
9.36%
Benchmark*
9.57%
Excess Return

-0.21%
Manager Inception
2.56%
Benchmark*
4.06%
Excess Return

-1.50%
Data as of 31-Jul-2019
Indicative Benchmark : FTSE EPRA Nareit Developed Index Net TRI
Fund Inception: 27-Oct-2008
Manager Inception: 31-Mar-2015

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

Holdings
Total
Holdings
62
Largest
Prologis
5.80%
Was ( 31-Mar-2019 )

6.26%
Top 10
32.39%
Contributor
Prologis
By 2.69%
% of fund
5.73%
Detractor
Mitsui Fudosan
By -0.01%
% of fund
2.37%
Purchase
Healthcare Trust of America (N)
2.06%
Was ( 31-Mar-2019 )
0.00%
Sale
Simon Property Group
1.10%
Was ( 31-Mar-2019 )
3.09%
Data as of 30-Jun-2019
Industry
Total
Industries
10
Largest
Apartment Residential
21.54%
Was ( 30-Jun-2019 )
20.75%
Contributor
Industrial
By 0.46%
Sector
0.17%
Selection
0.29%
Detractor
Healthcare
By -0.32%
Sector
-0.11%
Selection
-0.21%
Data as of 30-Jun-2019
Over
Office
By 6.68%
Fund
19.48%
Benchmark*
12.80%
Under
Diversified
By -5.83%
Fund
14.43%
Benchmark*
20.26%
Data as of 31-Jul-2019
Data as of 31-Jul-2019
Indicative Benchmark: FTSE EPRA Nareit Developed Index

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

Regions
Total
Regions
5
Largest
North America
55.28%
Was ( 30-Jun-2019 )
54.43%
Over
Latin America
By 0.49%
Fund
0.49%
Benchmark**
0.00%
Under
North America
By -2.47%
Fund
55.28%
Benchmark**
57.75%
Data as of 31-Jul-2019
Data as of 31-Jul-2019
Indicative Benchmark: FTSE EPRA Nareit Developed Index

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

Countries
Total
Countries
17
Largest
United States
53.31%
Was ( 30-Jun-2019 )
52.47%
Over
Finland
By 1.37%
Fund
1.50%
Benchmark*
0.13%
Under
Germany
By -2.46%
Fund
1.75%
Benchmark*
4.21%
Data as of 31-Jul-2019
Data as of 31-Jul-2019
Indicative Benchmark: FTSE EPRA Nareit Developed Index

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


Team
Nina Jones,
Portfolio Manager
Nina Jones is the lead portfolio manager for the T. Rowe Price Global Real Estate Strategy.
Portfolio Manager since
2015
Years at
T. Rowe Price
9
Years investment experience
9
Brian Dausch,
Portfolio Specialist
Brian Dausch is a portfolio specialist in the U.S. Equity Division working closely with institutional clients, consultants, and prospects.
Years at
T. Rowe Price
19
Years investment experience
20
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: FTSE

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. Past performance is not a reliable indicator of future performance.

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 © 2019 FactSet Research Systems Inc. All rights reserved. Analysis by T. Rowe Price Associates, Inc. T. Rowe Price uses a custom structure for sector and industry reporting for this product.

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.

©2019 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.