Download

Audience for the document: Share Class: Language of the document:

Download

Share Class: Language of the document:

Change Details

If you need to change your email address please contact us.
Subscriptions
OK
You are ready to start subscribing.
Get started by going to our products or insights section to follow what you're interested in.

Products Insights

GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®). TRP has been independently verified for the twenty one- year period ended June 30, 2017 by KPMG LLP. The verification report is available upon request. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation.

TRP is a U.S. investment management firm with various investment advisers registered with the U.S. Securities and Exchange Commission, the U.K. Financial Conduct Authority, and other regulatory bodies in various countries and holds itself out as such to potential clients for GIPS purposes. TRP further defines itself under GIPS as a discretionary investment manager providing services primarily to institutional clients with regard to various mandates, which include U.S, international, and global strategies but excluding the services of the Private Asset Management group.

A complete list and description of all of the Firm's composites and/or a presentation that adheres to the GIPS® standards are available upon request. Additional information regarding the firm's policies and procedures for calculating and reporting performance results is available upon request

Other Literature

You have successfully subscribed.

Notify me by email when
regular data and commentary is available
exceptional commentary is available
new articles become available

Thank you for your continued interest

Please enter valid search characters

Past performance is not a reliable indicator of future performance.

Strategy

Asia Opportunities Equity

The Asia Opportunities Equity Composite seeks long-term capital appreciation primarily through investment in companies in Asia, excluding Japan, with faster earnings growth and reasonable valuation levels relative to market/sector averages.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

9.39%
4.21%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

20.01%
1.01

Inception Date 31-May-2014

Performance figures calculated in USD

Other Literature

Eric C. Moffett
Eric C. Moffett, Portfolio Manager

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. 

 

Strategy

Investment Approach

  • 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.

Portfolio Construction

  • 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%.

Holdings

Total
Holdings
58
Largest Holding Alibaba Group Holding 10.96% Was (30-Jun-2020) 8.78%
Other View Full Holdings Quarterly data as of 30-Sep-2020
Top 10 Holdings 49.01% View Top 10 Holdings Monthly data as of 30-Sep-2020

Top Purchase

Ping An Insurance
1.38%
Was (30-Jun-2020) 0.49%

Top Sale

China Yongda Automobiles Services Hldgs
1.90%
Was (30-Jun-2020) 3.6%

Quarterly Data as of 30-Sep-2020

Sectors

Total
Sectors
9
Largest Sector Consumer Discretionary 31.05% Was (30-Jun-2020) 30.74%
Other View complete Sector Diversification

Monthly Data as of 30-Sep-2020

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

Top Contributor^

Industrials & Business Services
Net Contribution 0.58%
Sector
0.06%
Selection 0.53%

Top Detractor^

Consumer Staples
Net Contribution -2.06%
Sector
-0.42%
Selection
-1.64%

^Relative

Quarterly Data as of 30-Sep-2020

Largest Overweight

Consumer Discretionary
By10.17%
Portfolio 31.05%
Benchmark 20.87%

Largest Underweight

Health Care
By-4.66%
Portfolio 0.07%
Benchmark 4.73%

Monthly Data as of 30-Sep-2020

Countries

Total
Countries
11
Largest Country China 40.43% Was (30-Jun-2020) 37.65%
Other View complete Country Diversification

Monthly Data as of 30-Sep-2020

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

Top Contributor^

Taiwan
Net Contribution 0.60%
Country
-0.18%
Selection 0.78%

Top Detractor^

India
Net Contribution -0.79%
Country
-0.02%
Selection
-0.77%

^Relative

Quarterly Data as of 30-Sep-2020

Largest Overweight

Hong Kong
By5.42%
Portfolio 13.14%
Benchmark 7.72%

Largest Underweight

China
By-6.52%
Portfolio 40.43%
Benchmark 46.95%

Monthly Data as of 30-Sep-2020

Team (As of 01-Oct-2020)

Eric C. Moffett

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.

  • Portfolio manager
    since
    2014
  • Years at
    T. Rowe Price
    12
  • Years investment
    experience
    19
Nick Beecroft, CFA

Nick Beecroft is the APAC head of the Investment Specialist Group and a portfolio specialist in the Equity Division. He also is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.

Nick’s investment experience began in 2001, and he has been with T. Rowe Price since 2005, beginning in the Equity Division. Prior to this, Nick was employed by Mercer Investment Consulting as an investment analyst.

Nick earned a B.A., with honors, in contemporary European studies from the University of Southampton. He also has earned the Chartered Financial Analyst® designation.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Years at
    T. Rowe Price
    15
  • Years investment
    experience
    19