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Capital at risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

The listed funds are not an exhaustive list of funds available. Visit www.funds.troweprice.com to see the full range of funds offered by T. Rowe Price, including those that consider environmental and social characteristics as part of their investment process.  For up to date information regarding any T. Rowe Price fund's investment strategy, please see the relevant fund KID and prospectus. 

SICAV
Global Technology Equity Fund
An actively managed, global, all-cap fund that seeks to invest in companies that can benefit from innovation in technology. We invest in around 30-80 high conviction ideas seeking to identify secular growth themes and companies positioned on the right side of change. The fund is categorised as Article 8 under Sustainable Finance Disclosure Regulation (SFDR).
ISIN LU1244139827
View more information on risks
FACTSHEET
KID
SFDR DISCLOSUR
31-Oct-2024 - Dom Rizzo, Portfolio Manager,
We continue to believe in the long-term growth prospects of artificial intelligence (AI) and related productivity gains associated with the technology and in our view, we have the investment framework to responsibly navigate the cycle. We anticipate that the portfolio could see increased turnover as the AI environment changes and we take advantage of the broadening market.

Overview
Strategy
Fund Summary
Our fundamental company research and bottom-up analysis aims for early identification of disruptive technology trends and to identify future winners and losers of technological change. We invest in primarily mid- to large-sized companies with strong and/or increasing market share and product pipelines that appear to be strategically poised for long-term growth. The promotion of environmental and/or social characteristics is achieved through the fund's commitment to maintain at least 10% of the value of its portfolio invested in Sustainable Investments, as defined by the SFDR. Additionally, we apply a proprietary responsible screen (exclusion list). The manager is not constrained by the fund’s benchmark, which is used for performance comparison purposes only.
Performance - Net of Fees

Past performance is not a reliable indicator of future performance.

31-Oct-2024 - Dom Rizzo, Portfolio Manager,
Global equities sold off in October. Within the portfolio, stock selection in semiconductors detracted from relative performance. An underweight position in a semiconductor company that designs graphics processing units (GPUs) hurt as commentary around strong demand for its soon-to-be-launched chip boosted the stock. Despite our underweight stance, we think the high-quality company is solidifying a leadership position in its industry as the role of GPUs continues to gain importance amid several powerful vectors for growth. Within internet, security selection hurt. Shares of a dominant social media platform in China with leading positions in social networking and online games pulled back after its valuation climbed significantly at the end of September due to China’s stimulus announcement. We believe the company is a durable grower with the potential for earnings growth supported by new product cycles and China’s ongoing recovery. Alternatively, stock selection in software contributed to relative results. An underweight position in a dominant software and computing company added value as deceleration in its cloud computing segment overshadowed its overall strong earnings report. Despite our underweight, we appreciate the potential of the company as it layers artificial intelligence capabilities into its already-attractive suite of products.
31-Dec-2023 - Dom Rizzo, Portfolio Manager,
Digital semiconductors companies are direct beneficiaries of artificial intelligence (AI); one major player in the space recently projected that the AI market could grow from USD 45 billion in 2023 to USD 400 billion by 2027 and could comprise a significant portion of the total semiconductor market size. We find this projection remarkable and believe it highlights significant opportunities for several of our investments. One of our largest holdings in semiconductors is a high-quality company solidifying a leadership position in its industry as the role of graphics processing units continues to gain importance amid several powerful vectors for growth: AI, supercomputing, gaming, and autonomous driving.

Past performance is not a reliable indicator of future performance.

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 and/or key information document (KID) 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. They can also be found along with a summary of investor rights in English at www.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.

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.

Before deciding to invest in the fund, you should read the offering document/prospectus (including its investment objectives, policies and any risk warnings) which are available and may be obtained from any appointed distributors.

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.  

Benchmark: Investors may use the benchmark to compare the fund’s performance. The benchmark has been selected because it is similar to the investment universe used by the investment manager and therefore acts as an appropriate comparator. The investment manager is not constrained by any country, sector and/or individual security weightings relative to the benchmark and has complete freedom to invest in securities that do not form part of the benchmark.

Disclosure on Vendor Indices can be found here.

Effective 1 July 2024, the comparator benchmark for the fund changed to MSCI AC World Information Technology 10/40 Net Index. Prior to this change, the comparator benchmark was MSCI AC World Information Technology Index Net. Historical benchmark representations have not been restated.