Global Consumer Fund

Invests in securities issued by companies in the consumer sector. The financial professional has flexibility in allocating investments between the consumer discretionary and consumer staples sectors and seeks to identify the best risk adjusted opportunities for the fund based on market conditions and consumer sentiment.

Investing in the securities of non-U.S. issuers involves special risks not typically associated with investing in U.S. issuers. International securities tend to be more volatile and less liquid than investments in U.S. securities and may lose value because of adverse local, political, social, or economic developments overseas, or due to changes in the exchange rates between foreign currencies and the U.S. dollar. A fund that focuses its investments in specific industries or sectors is more susceptible to developments affecting those industries and sectors than a more broadly diversified fund. Because the fund invests significantly in companies connected to the consumer staples and consumer discretionary sectors, the fund may perform poorly during a downturn in one or more consumer-related industries and is more exposed to the economic, business or other developments that could adversely impact those industries.

Morningstar (Category)

Morningstar
(Overall Rating)1

Consumer Defensive
  (26 funds)

Data as of 09/30/2021

Data as of 09/30/2021

Fund Manager Tenure2

Net Assets3
(USD)

<1yr
$102.8m

Data as of 09/30/2021

Data as of 09/30/2021

Price
(USD)

Daily Price Change

$18.71
$+0.17

Data as of 10/15/2021

Data as of 10/15/2021

Morningstar Ratings™ are based on risk-adjusted returns. Click on "Overall Rating" for the fund's 3-, 5-, and 10-year (if applicable) Morningstar Ratings™.

Generic Avatar Image
Vivian Si, Portfolio Manager

Vivian Si is a co-portfolio manager of the Global Consumer Fund in the U.S. Equity Division. She is a vice president and an Investment Advisory Committee member of the US Real Estate Equity, US Large-Cap Core Growth Equity, US Dividend Growth Equity, US Structured Active Mid-Cap Growth Equity, US Small-Cap Growth II Equity, and US Value Equity Strategies. Vivian is a vice president of T. Rowe Price Group, Inc.

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Strategy

Investment Objective

The fund seeks to provide long-term capital growth.

Morningstar Equity Style

Large Growth

Data as of 09/30/2021

Morningstar Rating

Period Rating Funds In Category (Consumer Defensive)
Overall 26
3 Years 26
5 Years 23
10 Years N/A 19

Average Annual Total Returns (Investor Class)

1 YR
14.06%
Benchmark
9.98%
Value
4.08% 4.08%

Data as of 09/30/2021

3 YR
13.55%
Benchmark
10.93%
Value
2.62% 2.62%

Data as of 09/30/2021

5 YR
12.61%
Benchmark
10.95%
Value
1.66% 1.66%

Data as of 09/30/2021

Since Inception
13.28%
Benchmark
11.86%
Value
1.42% 1.42%

Data as of 09/30/2021

Benchmark: MSCI All Country World Index Consumer Discretionary & Consumer Staples ex Automobile & Components Net

Fund Inception: 06/27/2016

Expense Ratio

Gross
1.36%
Net
1.05%
Limitation Type
Contractual
expires 04/30/2023

Current Year Performance (Investor Class)

Daily YTD
6.73%
Benchmark
4.68%
Value
2.05%

Data as of 10/15/2021

Monthly YTD
3.25%
Benchmark
1.39%
Value
1.86%

Data as of 09/30/2021

One Month
-4.18%
Benchmark
-4.19%
Value
0.01%

Data as of 09/30/2021

Three Months
-4.69%
Benchmark
-4.72%
Value
0.03%

Data as of 09/30/2021

Benchmark: MSCI All Country World Index Consumer Discretionary & Consumer Staples ex Automobile & Components Net

Fund Inception: 06/27/2016

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when you sell your shares. Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions.

Investors should note that short term returns greater than 40% are highly unusual and unlikely to be sustained.

The gross expense ratio reflects the fund expenses as stated in the fee table of the fund's prospectus prior to the deduction of any waiver or reimbursement. The net expense ratio reflects fund expenses after the deduction of any waiver or reimbursement.  If a fund has an active contractual expense limitation, the expiration date is shown below the gross and net expense ratio values above.  Expense ratios are as of the most recent prospectus.

Asset Allocation

Net Assets
(USD)
$102.8m

Data as of 09/30/2021

Largest US Stock 59.68% $61.3m
Other View complete

Holdings

Total
Holdings
71

Data as of 09/30/2021

Largest Holding Amazon.com 15.59% Was (06/30/2021) 14.00%
Other View complete Full Holdings
Top 10 Holdings 42.71% View the latest Top 10 Holdings
12-Month Portfolio Turnover 73.1% Data as of 09/30/2021

Largest Contributor

Home Depot
5.68%

Largest Detractor

Amazon.com
15.59%

Data as of 09/30/2021

Purchase

Home Depot
5.67%
Was 3.59%

Sale

Philip Morris International (E)
0.00%
Was 1.73%

Data as of 09/30/2021

Industry

Total
Industries
33

Data as of 09/30/2021

Benchmark: MSCI All Country World Index Consumer Discretionary & Consumer Staples ex Automobile & Components

Largest Industry Automobiles 0.10% Was (08/31/2021) 1.99%
Other View complete Industry Diversification

Over

Automobiles
By 0.10%
Fund 0.10%
Benchmark 0.00%

Under

Specialty Retail
By -9.46%
Fund 0.10%
Benchmark 9.56%

Data as of 09/30/2021

Countries

Total
Countries
16

Data as of 09/30/2021

Benchmark: MSCI All Country World Index Consumer Discretionary & Consumer Staples ex Automobile & Components

Largest Country United States 61.62% Was (08/31/2021) 61.21%
Other View complete Country Diversification

Contributor

China
By 0.44%
Country 0.12%
Selection 0.32%

Detractor

United States
By -0.85%
Country 0.16%
Selection -1.01%

Data as of 09/30/2021

Over

United States
By 5.15%
Fund 61.62%
Benchmark 56.47%

Under

Australia
By -1.37%
Fund 0.00%
Benchmark 1.37%

Data as of 09/30/2021

Team (As of )

Generic Avatar Image

Vivian Si
Portfolio Manager

Vivian Si is a co-portfolio manager of the Global Consumer Fund in the U.S. Equity Division. She is a vice president and an Investment Advisory Committee member of the US Real Estate Equity, US Large-Cap Core Growth Equity, US Dividend Growth Equity, US Structured Active Mid-Cap Growth Equity, US Small-Cap Growth II Equity, and US Value Equity Strategies. Vivian is a vice president of T. Rowe Price Group, Inc.

  • Fund manager
    since 2021
  • Years at
    T. Rowe Price 9
  • Years investment
    experience 9

How to Invest

View platform information
Share Class Min Initial Investment (USD) Min Subsequent Investment (USD) 12b-1 Fee Expense Ratio
Gross Net Limitation Type Limitation Expiration Date
Investor Class
Cusip 77956H344
$2,500 $100 0.00% 1.36% 1.05% Contractual 04/30/2023
1

© 2021 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. Past performance is no guarantee of future results.

2

Number of years managing the fund.  In the case of co-portfolio management, the longer tenure is displayed.

3

Figure applies to all share classes.

Effective June 1, 2019, the "net" version of the benchmark replaced the "gross" version of the benchmark.  The "net" version of the benchmark assumes the reinvestment of dividends after the deduction of withholding taxes.

Source: MSCI.  MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein.  The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products.  This report is not approved, reviewed, or produced by MSCI.

Effective 12/22/20, the fund changed from the MSCI/S&P Global Industry Classification Standard (GICS) sector and industry structure to a custom industry structure for reporting for this product.

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