Risk Considerations

  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.
SICAV
China Evolution Equity Fund
A style agnostic, index unconstrained portfolio investing across shares of Chinese companies including A-shares, H-shares and US-listed Chinese stocks. We focus on areas of the market that may be overlooked by some investors.
ISIN LU2187417386
FACTSHEET
KFS
Wenli Zheng,
Portfolio Manager
Wenli Zheng is the portfolio manager of the China Evolution Equity Strategy for the International Equity Division. He also co-manages the Greater China portfolio for the International Discovery Strategy. Wenli started his investment career with T. Rowe Price in 2008 as a TMT analyst. Prior to this, Wenli was a strategic consultant with Capgemini.

Overview
Strategy
Fund Summary
Our approach focuses on uncovering stocks where change and growth are underappreciated or undiscovered. Leveraging our long history of investing in China, we seek to identify Chinese companies beyond the widely owned mega cap stocks that offer the long-term potential for durable or accelerating growth or a fundamental rerating.
Performance - Net of Fees

Team
Wenli Zheng,
Portfolio Manager
Wenli Zheng is the portfolio manager of the China Evolution Equity Strategy for the International Equity Division. He also co-manages the Greater China portfolio for the International Discovery Strategy. Wenli started his investment career with T. Rowe Price in 2008 as a TMT analyst. Prior to this, Wenli was a strategic consultant with Capgemini.
Portfolio Manager since
2020
Years at T. Rowe Price
12
Years investment experience
12
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
Robert Secker,
Portfolio Specialist
Robert Secker is a portfolio specialist representing the firm’s Asian and Chinese equity strategies to institutional clients, consultants, and prospects in the Equity Division.
Years at T. Rowe Price
11
Years investment experience
24

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 and 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.

Unless otherwise specified, all fund ratings, awards and data are as of 30-Apr-2022 and sourced from T. Rowe Price. 

SICAV refers to 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”).

Source for performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested in the share class currency, 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.  

Please refer to the factsheet for the Minimum Performance Information and other details.

Investment involves risks. Past performance is not a reliable indicator of future performance. The investment returns for some funds are denominated in foreign currency other than US/HK dollar. US/HK dollar-based investors are therefore exposed to fluctuations in the US/HK dollar against other foreign currency's exchange rate. Investors should refer to the prospectus for full details of the objectives, investment policies and risks.

Performance returns for share classes less than 1 year old (and associated benchmarks) are cumulative rather than annualised.  

The calendar year performance of a share class in its year of inception is calculated from its inception date to the last day of that year, which is not a full year return.

Issued in Hong Kong by T. Rowe Price Hong Kong Limited, 6/F, Chater House, 8 Connaught Road Central, Hong Kong. T. Rowe Price Hong Kong Limited is licensed and regulated by the Securities & Futures Commission (“SFC”). This has not been reviewed by the SFC.

Risk & Reward Data is calculated based on 5-year period or if such data is unavailable, it is calculated based on 3-year period. If the fund data history is shorter than 3-year period, Risk & Reward Data will not be shown.

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.

Where Top 10 Contributor and Detractor figures are shown (within the Holdings sections), these represent the Top 10 contributing/detracting securities by percentage of positive or negative contribution to performance as of 30-Apr-2022.

Where individual top contributor/detractor figures are shown, these are the largest contributors/detractors by percentage of fund size, out of the Top 10 contributors/detractors to fund performance as of 30-Apr-2022.

Calculation methodology of the contributors/detractors is available upon request. The specific securities identified and described do not represent all of the securities purchased, sold, or recommended for clients in the fund. A complete list of contributors/detractors for the period covered is available upon request.

Certain numbers in this website may not equal the stated totals due to rounding.