Research-driven, industry focused investment.
Investment ObjectiveTo increase the value of its shares, over the long term, through growth in the value of its investments. The fund invests mainly in a widely diversified portfolio of stocks of European companies selected by the investment manager’s team of research analysts (as opposed to a single portfolio manager).
- Leverage broad and deep research of all MSCI Europe Index stocks.
- Combine fundamental research with highly structured portfolio construction to isolate stock selection skills.
- Analysts make all security-level decisions.
- 15+ analysts are allocated capital in proportion to their industry weight within the MSCI Europe Index.
- Typically 200-300 stock portfolio
- Maximum active position size will typically range +/- 100 basis points relative to the MSCI Europe Index
- Sector and industry neutral
- Maximum portfolio weight in non-MSCI Europe names is 10%
- Expected tracking error of <2.00%
- Fully invested
|1 YR||3 YR
|Since Manager Inception|
|Indicative Benchmark %||-11.58%||-1.78%||-0.56%||5.36%||6.12%|
|Excess Return %||1.55%||-0.49%||-0.48%||-0.35%||2.45%|
|1 YR||3 YR
|Indicative Benchmark %||-13.53%||-3.17%||-1.73%||4.63%|
|Excess Return %||-0.49%||-1.15%||-0.77%||-0.58%|
|Month to DateData as of 28-May-2020||Quarter to DateData as of 28-May-2020||Year to DateData as of 28-May-2020||1 MonthData as of 30-Apr-2020||3 MonthsData as of 30-Apr-2020|
|Indicative Benchmark %||4.56%||10.96%||-14.11%||6.12%||-16.81%|
|Excess Return %||-0.64%||1.87%||0.36%||2.45%||0.45%|
Past performance is not a reliable indicator of future performance. Source for fund performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges (up to a maximum of 5% for the A Class), taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.
Where the base currency of the fund differs from the share class currency, exchange rate movements may affect returns.
Index returns shown with reinvestment of dividends after the deduction of withholding taxes.
Effective 1 July 2018, the "net" version of the indicative benchmark replaced the "gross" version of the indicative benchmark. The "net" version of the indicative benchmark assumes the reinvestment of dividends after the deduction of withholding taxes applicable to the country where the dividend is paid; as such, the returns of the new benchmark are more representative of the returns experienced by investors in foreign issuers. Historical benchmark performance has been restated accordingly.
Largest Top Contributor^
Roche HoldingBy 3.45%
Largest Top Detractor^
Real EstateNet Contribution 0.29%
Consumer DiscretionaryNet Contribution -0.32%
Ann Holcomb is a director of research, North America, in the U.S. Equity Division. Ann is a member of the Equity Steering Committee, and she is co-portfolio manager of the U.S. Quantitative US strategy. She is also is cochair of the Investment Advisory Committee of the US Structured Research Strategy. Ann is a vice president of T. Rowe Price Group, Inc.
Ann’s investment experience began in 1995, and she has been with T. Rowe Price since 1996, beginning in the Quantitative Equity Group as a quantitative analyst and database programmer in the Quantitative Equity Group. She was a portfolio manager and member of the Investment Advisory Committee for the US Equity Index Strategies.
Ann earned a B.A. in mathematics from Goucher College and an M.S. in finance from Loyola University Maryland. She also has earned the Chartered Financial Analyst® designation. Ann presently serves on the Board of Trustees of Calvert School and the Walters Art Museum.
- Fund manager2005
- Years at24
T. Rowe Price
- Years investment25
Mitchell Todd is the associate head of EMEA Equity in the Equity Division of T. Rowe Price. He is also a member of the firm's International Steering Committee. Mr. Todd is a vice president of T. Rowe Price Group, Inc., T. Rowe Price International Ltd and T. Rowe Price International Funds, Inc.
Mr. Todd has 18 years of investment experience, 11 of which have been with T. Rowe Price. Prior to joining the firm in 2007, he was an analyst with F&C Asset Management.
Mr. Todd earned an M.A. (honours) in accountancy and finance from the University of Aberdeen and is a member of the Institute of Chartered Accountants of Scotland.
- Fund manager2015
- Years at12
T. Rowe Price
- Years investment19
Steph Jackson is the associate head of the U.S. Equity Division. He is a member of the Equity Steering Committee. Steph is a former member of the International Steering, Equity Research, and Risk Management Oversight Committees. He also is the former chair of MOSAIC, a business resource group that identifies issues and opportunities relevant to talent, business practices, and culture in support of the firm's diversity and inclusion strategy. Steph is a vice president of T. Rowe Price Group, Inc.
Steph’s investment experience began in 1986, and he has been with T. Rowe Price since 2007, beginning in the U.S. Equity Division as a portfolio specialist, supporting several U.S. small-cap and mid-cap strategies. After that, he was a director of Equity Research, leading the U.S. Associate Analyst team. Prior to T. Rowe Price, he was a senior portfolio manager and a managing director with Brown Capital Management, where he managed mid-cap and large-cap growth portfolios. Prior to that, he was a growth portfolio manager and director of equity research with NCM Capital Management.
Steph earned a B.S. in business administration from the University of North Carolina, Chapel Hill, where he was a Morehead Scholar, and an M.B.A. from the University of Pennsylvania, The Wharton School. Steph also has earned the Chartered Financial Analyst® designation. He is a former member of the Investment Committee of the France-Merrick Foundation, a former executive Board member of the Baltimore Community Foundation, and a former Board member of the Abell Foundation. He also was the chairman of the Investment Committee of the Gilman School and a member of the Advisory Board of Bridges .
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Fund manager2019
- Years at12
T. Rowe Price
- Years investment33
Andrew Clifton is a portfolio specialist in the Equity Division at T. Rowe Price. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Mr. Clifton has over 30 years of investment experience, nine of which have been at T. Rowe Price. Prior to joining the firm in 2010, he was an executive director at UBS Global Asset Management. Prior to that, he was a vice president at Merrill Lynch.
Mr. Clifton earned a B.Sc. in economics from the London School of Economics and an M.Sc. in econometrics from the University of Southampton.
- Years at9
T. Rowe Price
- Years investment30
|Share Class||Minimum Initial Investment and Holding Amount (EUR)||Minimum Subsequent Investment (EUR)||Minimum Redemption Amount (EUR)||Sales Charge (up to)||Investment Management Fee (up to)||Ongoing Charges|
|Class I||€2,500,000||€100,000||€0||0.00%||55 basis points||0.65%|
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.