SICAV
Global Natural Resources Equity Fund
Seeking to identify long-term global winners in the arena of natural resources extraction and production.
ISIN LU0272423913
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COMMENTARY

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Risk & Reward ?
(SRRI)
1 2 3 4 5 6 7
NAV
(USD)
$11.11
1YR Return
(Annualised)
-10.38%
Fund Size
(USD)
$212.7m
Perf Change
(Daily)
-0.98%
3YR Return
(Annualised)
2.52%

Overview
Strategy
Fund Summary
Capital appreciation over the longer term by investing in a highly diversified portfolio of natural resource and commodity-related companies.
SMALL-CAP
MID-CAP
LARGE-CAP

127
Holdings

Style
Agnostic
Risk & Reward Data
Information Ratio
-0.05
Sharpe Ratio
-0.26
Historical Tracking Error
4.36%
Performance - Net of Fees
Current Year Performance
MTD
-8.11%
Benchmark*
-7.61%
Excess Return

-0.50%
QTD
-9.23%
Benchmark*
-9.93%
Excess Return

0.70%
YTD
2.68%
Benchmark*
2.62%
Excess Return

0.06%
Data as of 16-Aug-2019
1 Month
-1.23%
Benchmark*
-2.51%
Excess Return

1.28%
3 Months
-2.50%
Benchmark*
-3.77%
Excess Return

1.27%
Data as of 31-Jul-2019
 
Annualised Performance
1 YR
-10.38%
Benchmark*
-13.00%
Excess Return

2.62%
3 YR
2.52%
Benchmark*
3.71%
Excess Return

-1.19%
5 YR
-3.41%
Benchmark*
-3.18%
Excess Return

-0.23%
10 YR
3.04%
Benchmark*
3.49%
Excess Return

-0.45%
Manager Inception
-0.23%
Benchmark*
-0.55%
Excess Return

0.32%
Data as of 31-Jul-2019
Indicative Benchmark : MSCI World Select Natural Resources Index Net
Fund Inception: 15-Nov-2006
Manager Inception: 30-Sep-2013

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

Holdings
Total
Holdings
127
Largest
Total
5.00%
Was ( 31-Mar-2019 )

4.78%
Top 10
26.98%
Contributor
Total
By 1.99%
% of fund
4.98%
Detractor
Concho Resources
By -0.35%
% of fund
2.63%
Purchase
Linde
2.99%
Was ( 31-Mar-2019 )
1.49%
Sale
ExxonMobil
0.99%
Was ( 31-Mar-2019 )
1.77%
Data as of 30-Jun-2019
Sectors
Total
Sectors
9
Largest
Chemicals
17.88%
Was ( 30-Jun-2019 )
17.66%
Over
Utilities
By 4.29%
Fund
9.67%
Benchmark*
5.39%
Under
Energy Services & Processors
By -10.92%
Fund
11.31%
Benchmark*
22.23%
Data as of 31-Jul-2019
Data as of 31-Jul-2019
Indicative Benchmark: MSCI World Select Natural Resources Index

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

Regions
Data as of
Countries
Total
Countries
20
Largest
United States
59.44%
Was ( 30-Jun-2019 )
58.47%
Over
United States
By 7.54%
Fund
59.44%
Benchmark*
51.90%
Under
Japan
By -5.33%
Fund
0.43%
Benchmark*
5.76%
Data as of 31-Jul-2019
Data as of 31-Jul-2019
Indicative Benchmark: MSCI World Select Natural Resources Index

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

Currency
Total
Currencies
9
Largest
U.S. dollar
65.58%
Was ( 30-Jun-2019 )
65.18%

Over
U.S. dollar
By 13.35%
Fund
65.58%
Benchmark*
52.23%
Under
Canadian dollar
By -6.85%
Fund
4.47%
Benchmark*
11.32%
Data as of 31-Jul-2019
Indicative Benchmark: MSCI World Select Natural Resources Index

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


Team
Shawn T. Driscoll,
Portfolio Manager
Shawn Driscoll is a portfolio manager in the U.S. Equity Division. He is a lead manager for the Global Natural Resources Equity Strategy.
Portfolio Manager since
2013
Years at
T. Rowe Price
11
Years investment experience
14
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: 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.

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.

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.