New Asia Fund

Invests in companies that provide sustainable growth and/or potential for multiple expansion over the long-term through fundamental research.

Emerging markets investments are generally more volatile than domestic investments.

Morningstar (Category)

Morningstar
(Overall Rating)1

Pacific/Asia ex-Japan Stk
  (52 funds)

Data as of 09/30/2021

Data as of 09/30/2021

Fund Manager Tenure2

Net Assets3
(USD)

12yrs
$4.1b

Data as of 09/30/2021

Data as of 09/30/2021

Price
(USD)

Daily Price Change

$25.11
$-0.19

Data as of 10/26/2021

Data as of 10/26/2021

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™.

Anh Lu
Anh Lu, Portfolio Manager

Anh Lu is a portfolio manager in the Equity Division of T. Rowe Price Hong Kong Limited. Ms. Lu is the lead portfolio manager for the Asia ex-Japan Equity Strategy. She is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Hong Kong Limited.

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Strategy

Investment Objective

The fund seeks long-term growth of capital through investments primarily in the common stocks of companies located (or with primary operations) in Asia (excluding Japan).

Morningstar Equity Style

Large Blend

Data as of 09/30/2021

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 (Pacific/Asia ex-Japan Stk)
Overall 52
3 Years 52
5 Years 46
10 Years 33

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
13.78%
Benchmark
14.42%
Value
-0.64% -0.64%

Data as of 09/30/2021

3 YR
14.02%
Benchmark
9.19%
Value
4.83% 4.83%

Data as of 09/30/2021

5 YR
11.94%
Benchmark
10.13%
Value
1.81% 1.81%

Data as of 09/30/2021

10 YR
9.72%
Benchmark
8.50%
Value
1.22% 1.22%

Data as of 09/30/2021

Benchmark: MSCI All Country Asia ex Japan Index Net

Fund Inception: 09/28/1990

Expense Ratio

Gross
0.92%
Net
0.92%

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.

Current Year Performance (Investor Class)

Daily YTD
-0.04%
Benchmark
0.00%
Value
-0.04%

Data as of 10/26/2021

Monthly YTD
-2.71%
Benchmark
-3.53%
Value
0.82%

Data as of 09/30/2021

One Month
-3.40%
Benchmark
-4.18%
Value
0.78%

Data as of 09/30/2021

Three Months
-8.36%
Benchmark
-9.33%
Value
0.97%

Data as of 09/30/2021

Benchmark: MSCI All Country Asia ex Japan Index Net

Fund Inception: 09/28/1990

Asset Allocation

Net Assets
(USD)
$4.1b

Data as of 09/30/2021

Largest Global ex-US Stock 97.74% $4.0b
Other View complete

Holdings

Total
Holdings
78

Data as of 09/30/2021

Largest Holding Taiwan Semiconductor Manufacturing 10.33% Was (06/30/2021) 9.72%
Other View complete Full Holdings
Top 10 Holdings 40.70% View the latest Top 10 Holdings
12-Month Portfolio Turnover 46.1% Data as of 09/30/2021

Largest Contributor

Infosys
3.85%

Largest Detractor

Taiwan Semiconductor Manufacturing
10.33%

Data as of 09/30/2021

Purchase

Meituan
2.67%
Was 1.68%

Sale

Alibaba Group Holding
1.08%
Was 2.20%

Data as of 09/30/2021

Sectors

Total
Sectors
9

Data as of 09/30/2021

Benchmark: MSCI All Country Asia ex Japan Index

Largest Sector Information Technology 26.94% Was (08/31/2021) 28.24%
Other View complete

Contributor

Industrials & Business Services
By 1.58%
Sector 0.13%
Selection 1.45%

Detractor

Materials
By -0.60%
Sector -0.57%
Selection -0.03%

Data as of 09/30/2021

Over

Consumer Staples
By 3.67%
Fund 8.63%
Benchmark 4.96%

Under

Materials
By -5.41%
Fund 0.00%
Benchmark 5.41%

Data as of 09/30/2021

Countries

Total
Countries
12

Data as of 09/30/2021

Benchmark: MSCI All Country Asia ex Japan Index

Largest Country China 42.68% Was (08/31/2021) 42.21%
Other View complete Country Diversification

Contributor

Taiwan
By 0.95%
Country -0.04%
Selection 0.98%

Detractor

India
By -0.33%
Country 0.15%
Selection -0.48%

Data as of 09/30/2021

Over

China
By 3.51%
Fund 42.68%
Benchmark 39.17%

Under

South Korea
By -8.55%
Fund 5.90%
Benchmark 14.45%

Data as of 09/30/2021

Team (As of )

Anh Lu

Anh Lu
Portfolio Manager

Anh Lu is a portfolio manager in the Equity Division of T. Rowe Price Hong Kong Limited. Ms. Lu is the lead portfolio manager for the Asia ex-Japan Equity Strategy. She is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Hong Kong Limited.

  • Fund manager
    since 2009
  • Years at
    T. Rowe Price 20
  • Years investment
    experience 26
Irmak Surenkok

Irmak Surenkok
Portfolio Specialist

Irmak Surenkok is a portfolio specialist in the Equity Division at T. Rowe Price, representing the firm's regional and global emerging markets equity portfolio managers to institutional clients, consultants and prospects.

  • Years at
    T. Rowe Price 4
  • Years investment
    experience 17
Charles Knudsen, CFA

Charles Knudsen, CFA
Portfolio Specialist

Chuck Knudsen is a portfolio specialist in the Equity Division. He also is a member of the Emerging Markets Equity team. Chuck is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.

  • Years at
    T. Rowe Price 16
  • Years investment
    experience 34

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 77956H500
$2,500 $100 0.00% 0.92% 0.92% N/A N/A
I Class
Cusip 77956H385
$1,000,000* N/A 0.00% 0.81% 0.81% 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

© 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.

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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