Risk Considerations

  1. The Fund invests mainly in a diversified portfolio of stocks that have the potential for above average and sustainable rates of earnings growth. The companies may be anywhere in the world, including emerging markets.
  2. Investment in the Fund involves risks, including general investment risk, equity market risk, geographic concentration risk, currency risk and style risk which may result in loss of a part or the entire amount of your investment.
  3. The value of the Fund can be volatile and could go down substantially.
  4. You should not invest in the Fund unless the intermediary which sells you the Fund has advised you that the Fund is suitable for you.
  5. Investors should not invest in the Fund solely based on this website.
SICAV
Global Focused Growth Equity Fund
Concentrating high conviction positions in global investment prospects.
ISIN LU0143551892
FACTSHEET
KFS
YTD
Return
20.19%
1YR Return
(Annualised)
5.08%
3YR Return
(Annualised)
17.31%
NAV (USD)
at 12-Jul-2019
$45.22
NAV Change
(Daily)
-0.09%
Fund Size
(USD)
$1,607.3m
David J. Eiswert,
Portfolio Manager
David Eiswert is a portfolio manager and analyst in the U.S. Equity Division. He is the portfolio manager for the Global Focused Growth Equity Strategy. As an analyst, he covers communications equipment.

Overview
Strategy
Fund Summary
High conviction, global equity portfolio seeking to invest in companies with above average and improving earnings growth potential.
SMALL-CAP
MID-CAP
LARGE-CAP

77
Holdings

Style
Growth
Risk & Reward Data
Information Ratio
0.80
Sharpe Ratio
0.68
Historical Tracking Error
5.60%
Performance - Net of Fees
Current Year Performance
1 Month
5.79%
Indicative Benchmark
6.55%
Excess Return

-0.76%
3 Months
2.50%
Indicative Benchmark
3.61%
Excess Return

-1.11%
6 Months
20.19%
Indicative Benchmark
16.23%
Excess Return

3.96%
YTD
20.19%
Indicative Benchmark
16.23%
Excess Return

3.96%
Annualised Performance
1 YR
5.08%
Indicative Benchmark
5.74%
Excess Return

-0.66%
3 YR
17.31%
Indicative Benchmark
11.62%
Excess Return

5.69%
5 YR
10.66%
Indicative Benchmark
6.16%
Excess Return

4.50%
Inception
9.58%
Indicative Benchmark
8.84%
Excess Return

0.74%
Data as of 30-Jun-2019
Indicative Benchmark : MSCI All Country World Index Net
Share Class Inception Date: 28-Mar-2003
Holdings
Total
Holdings
77
Largest
Alphabet Class A
3.97%
Was ( 31-Dec-2018 )

3.87%
Top 10
27.52%
Largest Contributor
Facebook
By 0.21%
% of fund
3.77%
Largest Detractor
CME Group
By -0.07%
% of fund
1.75%
Largest Purchase
Facebook
3.77%
Was ( 31-Dec-2018 )
2.04%
Largest Sale
Northrop Grumman (E)
0.00%
Was ( 31-Dec-2018 )
1.45%
Data as of 31-Mar-2019
Sectors
Total
Sectors
11
Largest
Information Technology
25.59%
Was ( 31-May-2019 )
24.22%
Largest Contributor
Health Care
By 0.46%
Sector Weight
-0.14%
Stock Selection
0.60%
Largest Detractor
Information Technology
By -1.05%
Sector Weight
0.11%
Stock Selection
-1.15%
Data as of 30-Jun-2019
Overweight
Information Technology
By 9.56%
Fund
25.59%
Indicative Benchmark
16.03%
Underweight
Energy
By -5.13%
Fund
0.76%
Indicative Benchmark
5.89%
Data as of 30-Jun-2019
Data as of 30-Jun-2019
Indicative Benchmark: MSCI All Country World Index
Regions
Largest Contributor
Developed Europe
By 0.12%
Country Weight
-0.01%
Stock Selection
0.13%
Largest Detractor
Pacific ex Japan
By -0.34%
Country Weight
-0.13%
Stock Selection
-0.21%
Data as of 30-Jun-2019
Data as of
Countries
Total
Countries
20
Largest
United States
53.03%
Was ( 31-May-2019 )
54.11%
Overweight
India
By 2.19%
Fund
3.25%
Indicative Benchmark
1.06%
Underweight
Canada
By -2.24%
Fund
0.81%
Indicative Benchmark
3.05%
Data as of 30-Jun-2019
Data as of 30-Jun-2019
Indicative Benchmark: MSCI All Country World Index
Currency
Total
Currencies
14
Largest
U.S. dollar
63.27%
Was ( 31-May-2019 )
66.00%

Overweight
U.S. dollar
By 6.63%
Fund
63.27%
Indicative Benchmark
56.64%
Underweight
Canadian dollar
By -3.05%
Fund
0.00%
Indicative Benchmark
3.05%
Data as of 30-Jun-2019
Indicative Benchmark: MSCI All Country World Index

Team
David J. Eiswert,
Portfolio Manager
David Eiswert is a portfolio manager and analyst in the U.S. Equity Division. He is the portfolio manager for the Global Focused Growth Equity Strategy. As an analyst, he covers communications equipment.
Portfolio Manager since
2012
Years at
T. Rowe Price
13
Years investment experience
16
Laurence Taylor,
Portfolio Specialist
Laurence Taylor is a portfolio specialist in the Equity Division at T. Rowe Price, representing the firm's global equity portfolio managers to institutional clients, consultants and prospects.
Years at
T. Rowe Price
8
Years investment experience
17
,
How to Invest
Fees Minimum Initial Investment and Holding Amount (USD) Minimum Subsequent Investment (USD) Sales Charge (up to) Investment Management Fee (up to)

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.

Unless otherwise specified, all fund ratings, awards and data are as of 30-Jun-2019 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. Unless otherwise stated, effective July 1, 2018, the “net” version of the indicative benchmark replaced the “gross” version of the indicative benchmark. The “net” version of the indicative benchmark assumes the reinvestment of dividends after the deduction of withholding taxes applicable to the country where the dividend is paid; as such, the returns of the new benchmark are more representative of the returns experienced by investors in foreign issuers. Historical benchmark performance has been restated accordingly.   

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, 21/F, Jardine House, 1 Connaught Place, 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.

All Risk & Reward Data shown is specific to the particular share class shown, and is not necessarily representative of the fund as a whole. The data is calculated based upon the return and standard deviation of the selected share class over 3 years (if the share class has a track record of between 3 and 5 years) or 5 years, once the share class has sufficient performance history. Risk & Reward Data is not available for share classes with under 3 years’ performance history. 

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-Jun-2019.

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-Jun-2019.

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.

The Morningstar rating is sourced from Morningstar.

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