New Asia Fund - I Class

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.

PNSIXCUSIP 77956H385
Prospectus

Morningstar (Category)

Morningstar
(Overall Rating)1

Pacific/Asia ex-Japan Stk
  (75 funds)

Data as of 04/30/2020

Data as of 04/30/2020

Fund Manager Tenure2

Net Assets3
(USD)

11yrs
$2.8b

Data as of 04/30/2020

Data as of 04/30/2020

Price
(USD)

Daily Price Change

$19.05
$+0.46

Data as of 06/03/2020

Data as of 06/03/2020

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.

View more

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 Growth

Data as of 04/30/2020

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 75
3 Years 75
5 Years N/A 65
10 Years N/A 32

*Ratings displayed with hollow stars represent Morningstar Extended Performance Ratings.  Morningstar provides adjusted historical returns and an Extended Performance Rating for some mutual fund share class that don't have a 1, 3-, 5-, or 10-year performance history.  These hypothetical Morningstar Ratings are based on the historical performance of the oldest share class of the fund, adjusted for fees and expenses.

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 (I Class)*

1 YR
-8.08%
Benchmark
-13.44%
Value
5.36% 6.60%

Data as of 03/31/2020

3 YR
3.43%
Benchmark
1.06%
Value
2.37% 2.28%
5 YR
2.92%
Benchmark
1.34%
Value
1.58% 2.37%
10 YR
5.10%
Benchmark
3.77%
Value
1.33% 1.36%

Expense Ratio

Gross
0.82%
Net
0.82%

Benchmark: MSCI All Country Asia ex Japan Index Net

Investor Class Inception Date: 09/28/1990

I Class Inception Date: 12/17/2015

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 T. Rowe Price Funds-I Class share the portfolio of an existing fund (the original share class of the fund is referred to as the "investor class"). The total return figures for I Class shares have been calculated using the performance data of the investor class up to the inception date of the I Class (shown above) and the actual performance results of the I Class since that date.  Because the I Classes are expected to have lower expenses than the Investor Classes, The I Class performance, had it existed over the periods shown, would have been higher. 

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 (I Class)*

Daily YTD
-2.41%
Benchmark
-6.95%
Value
4.54%

Data as of 06/03/2020

Monthly YTD
-9.32%
Benchmark
-11.07%
Value
1.75%

Data as of 04/30/2020

One Month
9.26%
Benchmark
8.96%
Value
0.30%
Three Months
-4.48%
Benchmark
-6.93%
Value
2.45%

Benchmark: MSCI All Country Asia ex Japan Index Net

Investor Class Inception Date: 09/28/1990

I Class Inception Date: 12/17/2015

*The T. Rowe Price Funds-I Class share the portfolio of an existing fund (the original share class of the fund is referred to as the "investor class"). The total return figures for I Class shares have been calculated using the performance data of the investor class up to the inception date of the I Class (shown above) and the actual performance results of the I Class since that date.  Because the I Classes are expected to have lower expenses than the Investor Classes, The I Class performance, had it existed over the periods shown, would have been higher. 

Asset Allocation

Net Assets
(USD)
$2.8b
Largest Global ex-US Stock 96.80% $2.7b
Other View complete Asset Allocation

Data as of 04/30/2020

Holdings

Total
Holdings
84
Largest Holding Tencent Holdings 8.55% Was (12/31/2019) 7.48%
Other View complete Full Holdings
Top 10 Holdings 45.91% View the latest Top 10 Holdings
12-Month Portfolio Turnover 58.6% Data as of 04/30/2020

Data as of 03/31/2020

Largest Contributor

Tencent Holdings
8.55%

Largest Detractor

Alibaba Group Holding
8.76%

Data as of 03/31/2020

Purchase

Chailease Holding (N)
1.41%
Was 0.00%

Sale

Sinopharm (E)
0.00%
Was 1.13%

Data as of 03/31/2020

Sectors

Total
Sectors
11
Largest Sector Consumer Discretionary 20.36% Was (03/31/2020) 19.72%
Other View complete Sector Diversification

Data as of 04/30/2020

Benchmark: MSCI All Country Asia ex Japan Index (unhedged)

Contributor

Communication Services
By 0.75%
Sector 0.13%
Selection 0.61%

Detractor

Financials
By -1.70%
Sector 0.06%
Selection -1.77%

Data as of 03/31/2020

Over

Consumer Staples
By 7.05%
Fund 12.57%
Benchmark 5.52%

Under

Materials
By -3.34%
Fund 0.77%
Benchmark 4.12%

Data as of 04/30/2020

Countries

Total
Countries
14
Largest Country China 46.97% Was (03/31/2020) 48.46%
Other View complete Country Diversification

Data as of 04/30/2020

Benchmark: MSCI All Country Asia ex Japan Index (unhedged)

Contributor

South Korea
By 0.93%
Country 0.10%
Selection 0.82%

Detractor

India
By -1.05%
Country -0.28%
Selection -0.77%

Data as of 03/31/2020

Over

China
By 3.13%
Fund 46.97%
Benchmark 43.84%

Under

South Korea
By -2.97%
Fund 9.98%
Benchmark 12.94%

Data as of 04/30/2020

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 19
  • Years investment
    experience 25
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 2
  • Years investment
    experience 15
Charles Knudsen

Charles Knudsen
Portfolio Specialist

Chuck Knudsen is a portfolio specialist in the Equity Division of T. Rowe Price. Mr. Knudsen is a member of the Emerging Markets Equity team and a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. Previously, he was the associate head of Institutional Client Service, North America, for Global Investment Services, the organization responsible for the firm's institutional business worldwide.

  • Years at
    T. Rowe Price 15
  • Years investment
    experience 33

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
I Class
Cusip 77956H385
$1,000,000* N/A 0.00% 0.82% 0.82% N/A N/A
Investor Class
Cusip 77956H500
$2,500 $100 0.00% 0.94% 0.94% 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

© 2020 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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