Our commitment to value investing 

Risks – The following risks are materially relevant to the following funds:

US Large Cap Value Equity Fund: Equity, Geographic concentration, Small and mid-cap, Style.

US Select Value Equity Fund: Equity, Geographic concentration, Small and mid-cap, Issuer concentration, Style.

Global Value Equity Fund: Currency, Equity, Small and mid-cap, Geographic concentration.

Emerging Markets Discovery Equity Fund: Country - China, Currency, Emerging markets, Equity, Small and mid-cap, Geographic concentration.

General Fund Risks
Conflicts of Interest – The investment manager's obligations to a fund may potentially conflict with its obligations to other investment funds it manages. Counterparty – Counterparty risk may materialise if an entity with which the fund does business becomes unwilling or unable to meet its obligations to the fund. Custody – In the event that the depositary and/or custodian becomes insolvent or otherwise fails, there may be a risk of loss or delay in return of certain fund's assets. Cybersecurity – The fund may be subject to operational and information security risks resulting from breaches in cybersecurity of the digital information systems of the fund or its third-party service providers. ESG – Environmental, social or governance event(s) or condition(s) may occur, which could have/result in a material negative impact on the value of an investment and performance of the fund. Investment fund – Investing in funds involves certain risks an investor would not face if investing in markets directly. Inflation – Inflation may erode the value of the fund and its investments in real terms. Market – Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Market Liquidity – In extreme market conditions it may be difficult to sell the fund's securities and it may not be possible to redeem at short notice. Operational – ​Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes. Sustainability – Funds that seek to promote environmental and/or social characteristics may not or only partially succeed in doing so.

Past performance is not a guarantee or a reliable indicator of future results.

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. 

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, risks and sustainability information are located in the prospectus which is available with the key investor information documents (KIID) 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.funds.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.