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Capital at risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

The listed funds are not an exhaustive list of funds available. Visit www.funds.troweprice.com to see the full range of funds offered by T. Rowe Price, including those that consider environmental and social characteristics as part of their investment process.  For up to date information regarding any T. Rowe Price fund's investment strategy, please see the relevant fund KID and prospectus. 

SICAV
Global Technology Equity Fund
An actively managed, global, all-cap fund that seeks to invest in companies that can benefit from innovation in technology. We invest in around 30-80 high conviction ideas seeking to identify secular growth themes and companies positioned on the right side of change. The fund is categorised as Article 8 under Sustainable Finance Disclosure Regulation (SFDR).
ISIN LU1244139660
View more information on risks
FACTSHEET
KID
SFDR DISCLOSURE
31-Aug-2024 - Dom Rizzo, Portfolio Manager,
While recent earnings from hyperscalers have demonstrated strong fundamentals for artificial intelligence (AI) capital expenditures, it will likely become more challenging for technology spending to accelerate from the current high levels. That said, we believe in the long-term growth prospects of the AI capital spending cycle and in our ability to navigate it responsibly.

Overview
Strategy
Fund Summary
Our fundamental company research and bottom-up analysis aims for early identification of disruptive technology trends and to identify future winners and losers of technological change. We invest in primarily mid- to large-sized companies with strong and/or increasing market share and product pipelines that appear to be strategically poised for long-term growth. The promotion of environmental and/or social characteristics is achieved through the fund's commitment to maintain at least 10% of the value of its portfolio invested in Sustainable Investments, as defined by the SFDR. Additionally, we apply a proprietary responsible screen (exclusion list). The manager is not constrained by the fund’s benchmark, which is used for performance comparison purposes only.
Performance - Net of Fees

Past performance is not a reliable indicator of future performance.

31-Aug-2024 - Dom Rizzo, Portfolio Manager,
Global equities gained ground in August. Within the portfolio, stock selection in semiconductors contributed to relative performance. Shares of a Dutch payments industry technology name advanced as the company demonstrated an ability to execute in a challenging consumer landscape. We are attracted to the company’s long runway for above-market growth driven by secular trends, technological advantage over incumbents in the digital payments space, healthy incremental margins, and strong free cash flow conversion. Stock selection in software also aided relative performance. Shares of a company that offers online merchants a single, easy-to-use platform for setting up and managing e-commerce businesses rose. The company announced strong, across-the-board earnings that beat expectations, as well as better-than-feared guidance that implied sustained growth and improving profitability. We remain constructive on the new CFO’s increasing focus on costs and monetisation. Alternatively, stock selection in industrials detracted from relative results. Shares of an electric vehicle manufacturer fell as its late-July earnings release featuring lighter-than-expected automotive gross margins and limited follow-up details around the rollout of new lower-priced vehicle models weighed on sentiment. We believe structural cost, technology, and cultural advantages should enable the company to continue to disrupt the automotive industry.
31-Dec-2023 - Dom Rizzo, Portfolio Manager,
Digital semiconductors companies are direct beneficiaries of artificial intelligence (AI); one major player in the space recently projected that the AI market could grow from USD 45 billion in 2023 to USD 400 billion by 2027 and could comprise a significant portion of the total semiconductor market size. We find this projection remarkable and believe it highlights significant opportunities for several of our investments. One of our largest holdings in semiconductors is a high-quality company solidifying a leadership position in its industry as the role of graphics processing units continues to gain importance amid several powerful vectors for growth: AI, supercomputing, gaming, and autonomous driving.

Past performance is not a reliable indicator of future performance.

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 and/or key information document (KID) 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. They can also be found along with a summary of investor rights in English at www.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.

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.

Before deciding to invest in the fund, you should read the offering document/prospectus (including its investment objectives, policies and any risk warnings) which are available and may be obtained from any appointed distributors.

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.

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.  

Benchmark: Investors may use the benchmark to compare the fund’s performance. The benchmark has been selected because it is similar to the investment universe used by the investment manager and therefore acts as an appropriate comparator. The investment manager is not constrained by any country, sector and/or individual security weightings relative to the benchmark and has complete freedom to invest in securities that do not form part of the benchmark.

Disclosure on Vendor Indices can be found here.