Investment Approach

• Employ a fundamental, research-driven investment approach to identify attractive companies across the diverse markets of Africa and the Middle East.
• Combine bottom-up company analysis with a structured top-down country framework. The country framework assesses factors including fiscal and external strength, institutional quality and the underlying drivers of economic growth, helping to identify where the macroeconomic backdrop is supportive and where greater caution is warranted.
• Seek to exploit the market inefficiencies and mispricing that can arise across less well-researched markets in Africa and the Middle East, supported by extensive fundamental research and engagement with companies.
• Maintain a high-conviction and actively managed portfolio, with the flexibility to differ meaningfully from the benchmark at the stock, sector and country levels where supported by fundamental research.
• Draw on a dedicated portfolio manager and analyst team, supported by T. Rowe Price Associates’  broad global research platform, specialist expertise and extensive on-the-ground company and country research.