Risk Considerations

  1. The Fund is actively managed and invests mainly in a widely diversified portfolio of undervalued shares of companies (i.e. shares of companies which the Investment Manager considers are inexpensive relative to the market, peers, and the shares’ own history) anywhere in the world, including emerging markets. 
  2. Investment in the Fund involves risks, including general investment risk, equity market risk, geographic concentration risk, risks associated with depositary receipts and currency risks 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
Global Value Equity Fund
Targeting attractively valued global companies with prospects for improving earnings growth.
ISIN LU0859254822
FACTSHEET
KFS
YTD
Return
12.62%
Data as of: 30-Sep-2021
1YR Return
(Annualised)
34.63%
Data as of: 30-Sep-2021
3YR Return
(Annualised)
9.60%
Data as of: 30-Sep-2021
NAV
(USD)
$23.69
Data as of: 15-Oct-2021
NAV Change
(Daily)
1.37%
Data as of: 15-Oct-2021
Fund Size
(USD)
$508.1m
Data as of: 30-Sep-2021
Sebastien Mallet,
Portfolio Manager
Sebastien Mallet is a portfolio manager in the Equity Division managing the Global Value Equity Strategy.

Overview
Strategy
Fund Summary
Seeking capital appreciation over the longer term by investing in a highly diversified portfolio of undervalued shares of companies.
SMALL-CAP
MID-CAP
LARGE-CAP

96
Holdings

Style
Value
Risk & Reward Data
Information Ratio
-0.88
Sharpe Ratio
0.54
Historical Tracking Error
4.44%
Performance - Net of Fees
Current Year Performance
1 Month
-2.72%
Indicative Benchmark
-4.15%
Excess Return

1.43%
3 Months
-0.47%
Indicative Benchmark
-0.01%
Excess Return

-0.46%
6 Months
2.88%
Indicative Benchmark
7.74%
Excess Return

-4.86%
YTD
12.62%
Indicative Benchmark
13.04%
Excess Return

-0.42%
Annualised Performance
1 YR
34.63%
Indicative Benchmark
28.82%
Excess Return

5.81%
3 YR
9.60%
Indicative Benchmark
13.14%
Excess Return

-3.54%
5 YR
9.82%
Indicative Benchmark
13.74%
Excess Return

-3.92%
Inception
9.99%
Indicative Benchmark
12.00%
Excess Return

-2.01%
Data as of 30-Sep-2021
Indicative Benchmark : MSCI World Index Net
Share Class Inception Date: 28-Nov-2012
Holdings
Total
Holdings
96
Largest
Microsoft
4.30%
Was ( 30-Jun-2021 )

3.55%
Top 10
24.51%
Largest Contributor
Microsoft
By 1.90%
% of fund
4.27%
Largest Detractor
T-Mobile US
By -0.10%
% of fund
1.33%
Largest Purchase
Alphabet Class A (N)
2.87%
Was ( 30-Jun-2021 )
0.00%
Largest Sale
Bank of America (E)
0.00%
Was ( 30-Jun-2021 )
2.16%
Data as of 30-Sep-2021
Sectors
Total
Sectors
11
Largest
Financials
20.83%
Was ( 31-Aug-2021 )
18.03%
Largest Contributor
Financials
By 0.91%
Sector Weight
0.16%
Stock Selection
0.76%
Largest Detractor
Information Technology
By -0.77%
Sector Weight
-0.11%
Stock Selection
-0.66%
Data as of 30-Sep-2021
Overweight
Financials
By 7.14%
Fund
20.83%
Indicative Benchmark
13.69%
Underweight
Information Technology
By -8.97%
Fund
13.56%
Indicative Benchmark
22.53%
Data as of 30-Sep-2021
Data as of 30-Sep-2021
Indicative Benchmark: MSCI World Index
Regions
Total
Regions
6
Largest
North America
61.96%
Was ( 31-Aug-2021 )
58.66%
Largest Contributor
Developed Europe
By 0.14%
Country Weight
-0.04%
Stock Selection
0.18%
Largest Detractor
United States
By -0.45%
Country Weight
-0.04%
Stock Selection
-0.41%
Data as of 30-Sep-2021
Overweight
Pacific Ex Japan
By 3.50%
Fund
6.79%
Indicative Benchmark
3.28%
Underweight
North America
By -8.67%
Fund
61.96%
Indicative Benchmark
70.63%
Data as of 30-Sep-2021
Data as of 30-Sep-2021
Indicative Benchmark: MSCI World Index
Countries
Total
Countries
20
Largest
United States
60.13%
Was ( 31-Aug-2021 )
56.72%
Overweight
China
By 3.55%
Fund
3.56%
Indicative Benchmark
0.01%
Underweight
United States
By -7.27%
Fund
60.13%
Indicative Benchmark
67.40%
Data as of 30-Sep-2021
Data as of 30-Sep-2021
Indicative Benchmark: MSCI World Index

Team
Sebastien Mallet,
Portfolio Manager
Sebastien Mallet is a portfolio manager in the Equity Division managing the Global Value Equity Strategy.
Portfolio Manager since
2012
Years at
T. Rowe Price
15
Years investment experience
19
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
11
Years investment experience
20
Andrew Clifton,
Portfolio Specialist
Andrew Clifton is a portfolio specialist in the Equity Division at T. Rowe Price.
Years at
T. Rowe Price
9
Years investment experience
30
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-Sep-2021 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.

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-Sep-2021.

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-Sep-2021.

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.