Global Stock Fund

Invests in a variety of industries in developed and, to a lesser extent, emerging markets. Invests in firms taking market share in the global economy and demonstrating strong free cash flow, sustainable margins, long product cycles, and experienced management teams.

Share prices are subject to the risks associated with unfavorable currency exchange rates and political or economic uncertainty abroad.

PRGSXCUSIP 77956H856
Fund Story Prospectus

Morningstar (Category)

Morningstar
(Overall Rating)1

World Large Stock
  (728 funds)

Data as of 10/31/2019

Data as of 10/31/2019

Fund Manager Tenure2

Net Assets3
(USD)

7yrs
$2.3b

Data as of 10/31/2019

Data as of 10/31/2019

Price
(USD)

Daily Price Change

$43.98
$+0.44

Data as of 11/15/2019

Data as of 11/15/2019

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™.

David J. Eiswert
David J. Eiswert, Lead Portfolio Manager

David Eiswert is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is the portfolio manager for the Global Focused Growth Equity Strategy, a role he has held since October 1, 2012. Prior to his current role, Mr. Eiswert was the portfolio manager for the Global Technology Strategy from October 2008 until May 2012. He was a technology analyst from 2003 until 2012. Mr. Eiswert is a vice president of T. Rowe Price Group, Inc.

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Strategy

Investment Objective

The fund seeks long-term growth of capital through investments primarily in the common stocks of established companies throughout the world, including the U.S.

Morningstar Equity Style

Large Growth

Data as of 10/31/2019

The Morningstar Style Box™, a proprietary Morningstar data point, is a 9-square grid that provides a graphical representation of the "investment style" of stocks and mutual funds. See disclaimer at bottom of page for more information.

Morningstar Rating

Period Rating Funds In Category (World Large Stock)
Overall 728
3 Years 728
5 Years 600
10 Years 370

The Morningstar Rating™ for funds, or "star rating", is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.

Average Annual Total Returns (Investor Class)

1 YR
3.29%
Benchmark
1.38%
Value
1.91% 4.67%

Data as of 09/30/2019

3 YR
14.49%
Benchmark
9.71%
Value
4.78% 5.42%
5 YR
11.98%
Benchmark
6.65%
Value
5.33% 5.21%
10 YR
11.67%
Benchmark
8.35%
Value
3.32% 3.31%

Expense Ratio

Gross
0.82%
Net
0.82%

Benchmark: MSCI All Country World Index Net

Fund Inception: 12/29/1995

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.

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.

Current Year Performance (Investor Class)

Daily YTD
27.81%
Benchmark
21.90%
Value
5.91%

Data as of 11/15/2019

Monthly YTD
24.18%
Benchmark
19.38%
Value
4.80%

Data as of 10/31/2019

One Month
3.36%
Benchmark
2.74%
Value
0.62%
Three Months
1.76%
Benchmark
2.41%
Value
-0.65%

Benchmark: MSCI All Country World Index Net

Fund Inception: 12/29/1995

Asset Allocation

Net Assets
(USD)
$2.3b
Largest US Stock 50.38% $1.2b
Other View complete Asset Allocation

Data as of 10/31/2019

Holdings

Total
Holdings
78
Largest Holding JPMorgan Chase 3.01% Was (06/30/2019) 1.74%
Other View complete Full Holdings
Top 10 Holdings 24.16% View the latest Top 10 Holdings
12-Month Portfolio Turnover 105.8% Data as of 10/31/2019

Data as of 09/30/2019

Largest Contributor

JPMorgan Chase
3.01%

Largest Detractor

Tencent Holdings
2.36%

Data as of 09/30/2019

Purchase

Advanced Micro Devices (N)
1.45%
Was 0.00%

Sale

Essity (E)
0.00%
Was 2.72%

Data as of 09/30/2019

Sectors

Total
Sectors
11
Largest Sector Information Technology 33.60% Was (09/30/2019) 31.46%
Other View complete Sector Diversification

Data as of 10/31/2019

Benchmark: MSCI All Country World Index

Contributor

Materials
By 0.57%
Sector 0.13%
Selection 0.44%

Detractor

Communication Services
By -0.75%
Sector 0.06%
Selection -0.81%

Data as of 09/30/2019

Over

Information Technology
By 17.04%
Fund 33.60%
Benchmark 16.55%

Under

Consumer Staples
By -6.91%
Fund 1.48%
Benchmark 8.39%

Data as of 10/31/2019

MSCI index returns are shown with gross dividends reinvested.

Regions

Total
Regions
5
Largest Region North America 51.18% Was (09/30/2019) 52.11%
Other View complete Region Diversification

Data as of 10/31/2019

Benchmark: MSCI All Country World Index

Contributor

Japan
By 0.35%
Region -0.04%
Selection 0.39%

Detractor

United States
By -1.15%
Region -0.03%
Selection -1.13%

Data as of 09/30/2019

Over

Europe
By 3.33%
Fund 22.85%
Benchmark 19.52%

Under

North America
By -7.12%
Fund 51.18%
Benchmark 58.30%

Data as of 10/31/2019

Countries

Total
Countries
20
Largest Country United States 50.64% Was (09/30/2019) 50.56%
Other View complete Country Diversification

Data as of 10/31/2019

Benchmark: MSCI All Country World Index

Over

China
By 3.13%
Fund 6.86%
Benchmark 3.74%

Under

United States
By -4.67%
Fund 50.64%
Benchmark 55.30%

Data as of 10/31/2019

Numbers may not total due to rounding; all numbers are percentages.

Currency

Total
Currencies
14
Largest Currency U.S. dollar 60.98% Was (09/30/2019) 61.88%
Other View complete Currency Diversification

Data as of 10/31/2019

Benchmark: MSCI All Country World Index

Over

U.S. dollar
By 4.16%
Fund 60.98%
Benchmark 56.82%

Under

Canadian dollar
By -3.00%
Fund 0.00%
Benchmark 3.00%

Data as of 10/31/2019

Team (As of )

David J. Eiswert

David J. Eiswert
Lead Portfolio Manager

David Eiswert is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is the portfolio manager for the Global Focused Growth Equity Strategy, a role he has held since October 1, 2012. Prior to his current role, Mr. Eiswert was the portfolio manager for the Global Technology Strategy from October 2008 until May 2012. He was a technology analyst from 2003 until 2012. Mr. Eiswert is a vice president of T. Rowe Price Group, Inc.

  • Fund manager
    since 2012
  • Years at
    T. Rowe Price 16
  • Years investment
    experience 19
Josh Nelson

Josh Nelson
Portfolio Manager

Josh  Nelson is a director of research in the U.S. Equity Department of T. Rowe Price. Previously, he was an associate portfolio manager for the Global Focused Growth Equity Strategy. He is on the Investment Advisory Committee of the Global Stock Strategy. He also serves on the Equity Steering Committee. Mr. Nelson is a vice president of T. Rowe Price Group, Inc.

  • Years at
    T. Rowe Price 12
  • Years investment
    experience 17
Kurt A.  Umbarger

Kurt A. Umbarger
Portfolio Specialist

Kurt Umbarger is a global equity portfolio specialist within the International Equity Division of T. Rowe Price. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.

  • Years at
    T. Rowe Price 26
  • Years investment
    experience 26
Laurence Taylor

Laurence Taylor
Portfolio Specialist

Laurence Taylor is a portfolio specialist in the Equity Division at T. Rowe Price, representing the firm's global equity strategies to institutional clients, consultants and prospects. Mr. Taylor is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

  • Years at
    T. Rowe Price 10
  • Years investment
    experience 19

For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.

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 77956H856
$2,500 $100 0.00% 0.82% 0.82% N/A N/A
Advisor Class
Cusip 77956H765
$2,500 $100 0.25% 1.09% 1.09% N/A
N/A
I Class
Cusip 77956H328
$1,000,000* N/A 0.00% 0.68% 0.68% N/A
N/A

* Minimum initial investment $1,000,000. Minimum is generally waived for intermediaries, certain retirement plans, and certain institutional client accounts.

1

© 2019 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.

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.

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