A concentrated portfolio of high-quality Asian companies.
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 diversified portfolio of stocks of companies in Asia.
- Seeking long term capital appreciation to come from owning high quality businesses that will reliably compound earnings/ cash flow generation over time.
- In Asia, this type of company tends to exhibit three key characteristics:
- Established companies with leading market positions.
- Good management teams who care about shareholder returns.
- Returns-focused capital allocation and prudent balance sheet management.
- Fundamental research is critical in helping us to identify these characteristics and exploit market inefficiencies:
- Focus on the long term. Be patient.
- Gain a better understanding of the durability of a company’s prospects than the market.
- More accurately assess a company’s intrinsic value than other market participants.
- Typically 40-70 stock portfolio
- Individual positions typically range from 0.50% to 6.00%.
- Country and sector weightings a residual of stock selection.
- Cash position typically less than 5%.
|1 YR||3 YR
|Since Manager Inception
|Indicative Benchmark %||13.24%||8.46%||4.76%||4.98%||4.98%|
|Excess Return %||10.02%||3.93%||3.71%||3.91%||3.91%|
|1 YR||3 YR
|Indicative Benchmark %||-3.44%||6.32%||4.23%||4.20%|
|Excess Return %||9.65%||3.56%||3.76%||3.96%|
|Month to DateData as of 18-Nov-2019||Quarter to DateData as of 18-Nov-2019||Year to DateData as of 18-Nov-2019||1 MonthData as of 31-Oct-2019||3 MonthsData as of 31-Oct-2019|
|Indicative Benchmark %||1.26%||5.87%||11.92%||4.55%||1.64%|
|Excess Return %||0.19%||0.04%||6.16%||-0.15%||2.62%|
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.
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^
Taiwan Semiconductor ManufacturingBy 2.79%
Largest Top Detractor^
Tencent HoldingsBy -3.35%
Taiwan Semiconductor Manufacturing6.21%
HKT Trust & HKT Limited2.49%
Industrials & Business ServicesNet Contribution 1.48%
Consumer DiscretionaryNet Contribution -0.21%
IndiaNet Contribution 1.76%
ThailandNet Contribution -0.13%
Eric Moffett is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Hong Kong Limited. He is the portfolio manager for the firm's Asia Opportunities equity strategy and chairman of the strategy's Investment Advisory Committee.
Mr. Moffett has 19 years of investment experience, 12 of which have been with T. Rowe Price. Prior to joining the firm in 2007, Mr. Moffett was an analyst with Fayez Sarofim & Company, where he covered the household products, communications equipment and lodging/leisure industries. Mr. Moffett also was employed as an associate at Audax Group and as a management consultant with Bain & Company.
Mr. Moffett earned an A.B., magna cum laude, in economics from Princeton University and an M.B.A. from Harvard Business School.
- Fund manager2014
- Years at11
T. Rowe Price
- Years investment18
Nicholas Beecroft is a portfolio specialist in the Equity Division at T. Rowe Price, representing the firm's global equity strategies. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.
Mr. Beecroft has 18 years of investment experience, 14 of which have been with T. Rowe Price. He joined the firm in London in 2005 and spent many years working with our emerging markets equity team. Mr. Beecroft has been based in Hong Kong since 2011. Prior to joining T. Rowe Price, he was an investment analyst at Mercer Investment Consulting.
Mr. Beecroft earned a B.A, with honours, in contemporary European studies from the University of Southampton. He also has earned the Chartered Financial Analyst designation.
- Years at14
T. Rowe Price
- Years investment18
|Share Class||Minimum Initial Investment and Holding Amount||Minimum Subsequent Investment||Minimum Redemption Amount||Sales Charge (up to)||Investment Management Fee (up to)||Ongoing Charges|
|Class A||$15,000||$100||$100||5.00%||160 basis points||2.07%|
|Class I||$2,500,000||$100,000||$0||0.00%||75 basis points||1.10%|
|Class Q||$15,000||$100||$100||0.00%||75 basis points||1.17%|
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.