SICAV
Japanese Equity Fund
Seeking to uncover the best investment opportunities across the Japanese equity spectrum.
ISIN LU0230817925
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FACTSHEET
KIID
COMMENTARY

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Fund Size
(EUR)
€1.1b
Perf Change
(Daily)
0.34%
NAV
(EUR)
€14.71
1YR Return
(Annualised)
-0.99%
3YR Return
(Annualised)
8.61%

Overview
Strategy
Fund Summary
Long-term capital appreciation through investment in a broadly diversified portfolio of companies listed on the Japanese equity market.
SMALL-CAP
MID-CAP
LARGE-CAP

79
Holdings

Style
Agnostic / Core
Risk & Reward Data
Information Ratio
0.63
Sharpe Ratio
0.58
Historical Tracking Error
5.93%
Performance - Net of Fees
Current Year Performance
MTD
-2.13%
Benchmark*
-1.28%
Excess Return

-0.85%
QTD
-0.14%
Benchmark*
1.10%
Excess Return

-1.24%
YTD
12.38%
Benchmark*
8.51%
Excess Return

3.87%
Data as of 20-Aug-2019
1 Month
2.04%
Benchmark*
2.42%
Excess Return

-0.38%
3 Months
0.20%
Benchmark*
0.06%
Excess Return

0.14%
Data as of 31-Jul-2019
 
Annualised Performance
1 YR
-0.99%
Benchmark*
-1.32%
Excess Return

0.33%
3 YR
8.61%
Benchmark*
5.87%
Excess Return

2.74%
5 YR
12.34%
Benchmark*
8.61%
Excess Return

3.73%
10 YR
11.22%
Benchmark*
8.28%
Excess Return

2.94%
Manager Inception
11.95%
Benchmark*
8.79%
Excess Return

3.16%
Data as of 31-Jul-2019
Indicative Benchmark : TOPIX Index Net
Fund Inception: 16-Dec-2005
Manager Inception: 26-Dec-2013

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

Holdings
Total
Holdings
79
Largest
SOFTBANK GROUP CORP
4.49%
Was ( 31-Mar-2019 )

4.62%
Top 10
29.63%
Contributor
Miura
By 0.28%
% of fund
3.68%
Detractor
Takeda Pharmaceutical
By -0.54%
% of fund
2.50%
Purchase
Sansan (N)
0.92%
Was ( 31-Mar-2019 )
0.00%
Sale
Japan Tobacco (E)
0.00%
Was ( 31-Mar-2019 )
2.29%
Data as of 30-Jun-2019
Sectors
Total
Sectors
13
Largest
It & Services & Others
33.44%
Was ( 30-Jun-2019 )
31.52%
Contributor
Industrials & Business Services
By 2.53%
Sector
0.05%
Selection
2.48%
Detractor
Health Care
By -1.11%
Sector
0.00%
Selection
-1.11%
Data as of 30-Jun-2019
Over
It & Services & Others
By 17.03%
Fund
33.44%
Benchmark*
16.42%
Under
Banks
By -5.81%
Fund
0.00%
Benchmark*
5.81%
Data as of 31-Jul-2019
Data as of 31-Jul-2019
Indicative Benchmark: TOPIX Index

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


Team
Archibald Ciganer,
Portfolio Manager
Archibald Ciganer is the portfolio manager for the Japan Equity Strategy, having previously covered the telecom, transportation, utility, media and consumer sectors as a research analyst in the Equity Division.
Portfolio Manager since
2013
Years at
T. Rowe Price
10
Years investment experience
18
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 Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1

Indicative Benchmark Data Source: Tokyo Stock Exchange

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.

Attribution Data: Analysis represents the total performance of the portfolio as calculated by the FactSet attribution model and is inclusive of other assets that that will not receive a classification assignment in the detailed structure shown. Returns will not match official T. Rowe Price performance because FactSet uses different exchange rate sources and does not capture intra-day trading. Performance for each security is obtained in the local currency and, if necessary, is converted to U.S. dollars using an exchange rate determined by an independent third party. Figures are shown with gross dividends reinvested.

Sources: Copyright © 2019 FactSet Research Systems Inc.  All rights reserved. FT Interactive, IDC; Analysis by T. Rowe Price Associates, Inc. T. Rowe Price uses the TOPIX sectors and industries for sector and industry reporting for this product.

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.