OEIC
Japanese Equity Fund
Seeking to uncover the best investment opportunities across the Japanese equity spectrum.
ISIN GB00BD446L18
View more information on risks
FACTSHEET
KIID
Risk & Reward ?
(SRRI)
1 2 3 4 5 6 7 Data as of: 31-Oct-2019
NAV
(GBP)
£12.55
Data as of: 12-Nov-2019

1YR Return
9.15%
IA Sector ranking: 20/71
Data as of: 31-Oct-2019
Fund Size
(GBP)
£167.4m
Data as of: 31-Oct-2019
Perf Change
(Daily)
0.36%
Data as of: 12-Nov-2019
Since Inception
(Cumulative)
20.77%
IA Sector ranking: N/A
Data as of: 31-Oct-2019

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

75
Holdings

Style
Agnostic / Core
Risk & Reward Data

Risk return statistics are not available until 3 years of data is available.
Performance
YTD 1 year 3 year

Cumulative

5 year

Cumulative

Since Inception

Cumulative

Fund 17.58% 9.15% N/A N/A 20.77%
IA Sector Ranking 24/71 20/71 N/A N/A N/A
IA Sector 15.43% 7.29% N/A N/A 12.91%
Excess Return 2.15% 1.86% N/A N/A 7.86%
Indicative Benchmark 13.67% 6.67% N/A N/A 12.00%
Excess Return 3.91% 2.48% N/A N/A 8.77%

Data as of 31-Oct-2019

Holdings
Total
Holdings
75
Largest
SOFTBANK GROUP CORP
3.72%
Was ( 30-Jun-2019 )

4.51%
Top 10
29.78%
Contributor
Chugai Pharmaceutical
By 0.26%
% of fund
2.85%
Detractor
SOFTBANK GROUP CORP
By -0.34%
% of fund
3.73%
Purchase
Kyowa Kirin (N)
1.72%
Was ( 30-Jun-2019 )
0.00%
Sale
ZOZO (E)
0.00%
Was ( 30-Jun-2019 )
1.87%
Data as of 30-Sep-2019
Sectors
Total
Sectors
13
Largest
It & Services & Others
31.99%
Was ( 30-Sep-2019 )
32.03%
Contributor
Materials
By 0.69%
Sector
0.01%
Selection
0.69%
Detractor
Information Technology
By -0.88%
Sector
0.03%
Selection
-0.91%
Data as of 30-Sep-2019
Over
It & Services & Others
By 16.24%
Fund
31.99%
Benchmark*
15.75%
Under
Banks
By -5.86%
Fund
0.00%
Benchmark*
5.86%
Data as of 31-Oct-2019
Data as of 31-Oct-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) Management Charge Ongoing Charge1
Class C GBP10,000 GBP500 N/A Up to 0.75% 0.92%

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, 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. Performance returns for share classes less than 1 year old (and associated benchmarks) are cumulative rather than annualised.

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.

The Funds are sub-funds of the T. Rowe Price Funds OEIC, an investment company with variable capital incorporated in England and Wales which is registered with the UK Financial Conduct Authority 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 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.

IA Sector: Many UK funds are grouped into sectors by the Investment Association (the “IA”) (the trade body that represents UK investment managers), to help investors to compare funds with broadly similar characteristics. Investors may compare the fund against the performance of the Japan sector. This sector represents the average performance of certain funds that invest at least 80% of their assets in Japanese shares. It can therefore serve as a method of comparing the fund’s performance with other funds that have broadly similar characteristics. The fund is not constrained to or managed in line with this sector. Source for IA Sector Data: © Morningstar. All Rights Reserved.

Please note that the Fund typically has a risk of high volatility.

This material being furnished is for general informational purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, and prospective investors are recommended to seek independent legal, financial and tax advice before making any investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc. and/or its affiliates receive revenue from T. Rowe Price investment products and services. 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.

The material does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The material has not been reviewed by any regulatory authority in any jurisdiction.

Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources’ accuracy or completeness. There is no guarantee that any forecasts made will come to pass. The views contained herein are as of the date noted on the material and are subject to change without notice; these views may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price.

The material is not intended for use by persons in jurisdictions which prohibit or restrict the distribution of the material and in certain countries the material is provided upon specific request. It is not intended for distribution to retail investors in any jurisdiction.

The specific securities identified and described in this report do not represent all of the securities purchased, sold, or recommended for the OEIC 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 Management Charge and is charged per annum.

Citywire - where the Fund manager is rated by Citywire the rating is based on the manager's 3 year risk adjusted performance.