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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
Emerging Markets Equity Fund
An actively managed, diversified portfolio of approximately 90-120 emerging markets stocks, unconstrained by country, sector, or market cap. We aim to identify high quality companies with long-term sustainable above-market earnings growth, at prices that do not fully reflect that growth. The fund is categorised as Article 8 under Sustainable Finance Disclosure Regulation (SFDR).
ISIN LU0864768196
View more information on risks
FACTSHEET
KIID
SFDR DISCLOSURE
31-Aug-2024 - Eric Moffett, Portfolio Manager,
Emerging market equities have remained resilient despite a backdrop of tighter monetary policies, record levels of global inflation, and underwhelming economic momentum in China. While the outlook for emerging markets this year is uncertain, we remain confident in the bottom-up fundamentals for the companies in which we invest.

Overview
Strategy
Fund Summary
We have a bottom-up, long-term approach, driven by fundamental research. Our company research focuses on franchise strength, management team quality, free cash flow, and financing structure. Corporate governance is strongly embedded within our investment process, as is the consideration of critical macroeconomic and political factors. 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.
Investment Association Sector:
Global Emerging Markets
31-Jan-2024 - Eric Moffett, Portfolio Manager,
Consumer discretionary and consumer staples are areas where we have identified several high-quality investment opportunities. We have a large allocation to the latter where we believe our holdings are well placed to benefit from a growing middle class in the emerging world. These companies have the potential to achieve relatively stable levels of earnings growth over the next few years, in our view. In contrast, we have relative underweight positions in the materials and utilities sectors, where we have typically not found many companies with the durable, longer-term, earnings characteristics that we seek.
31-Jan-2024 - Eric Moffett, Portfolio Manager,
We have a relatively overweight position in Brazil where we have found a range of investment opportunities that are trading at attractive valuations. In our view, the growth outlook for the country this year remains positive, and we continue to find areas of the market that we believe will be beneficiaries of its robust macroeconomic backdrop. On the other hand, we are more cautious about Taiwan, which we believe could stay weak in the near term as it is heavily exposed to global trade.

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.