Style-agnostic, quality-driven European equity 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 diversified portfolio of stocks of companies in Europe (excluding the UK).
- Fundamental research is critical to successfully identify and assess long-term investment opportunities. We look for companies with high returns on capital and capable of providing sustainable earnings across the market cycle.
- Style agnostic, focus on quality. By avoiding style constraints, we can invest in quality companies and maintain a balanced portfolio through market cycles.
- Disciplined approach to valuation. We aim to buy businesses at a clear discount to their intrinsic value.
- Risk management is essential and is assisted by diversification, quantitative analysis, and automatic stabilizers built in to our investment process.
- Environmental, social and governance ("ESG") factors with particular focus on those considered most likely to have a material impact on the performance of the holdings or potential holdings in the funds’ portfolio are assessed. These ESG factors, which are incorporated into the investment process alongside financials, valuation, macro-economics and other factors, are components of the investment decision. Consequently, ESG factors are not the sole driver of an investment decision but are instead one of several important inputs considered during investment analysis.
- Typically 40-70 stocks
- Individual position size up to 4.0% relative to the indicative benchmark
- Sector ranges: typically +/- 10% relative to the indicative benchmark
- Country ranges: typically +/- 10% relative to the indicative benchmark
- Expected Tracking Error: typically 3.0% to 6.0%
- Information Ratio objective: >0.5
- Cash target range: fully invested, typically less than 5.0%
- Turnover range: 40%-100%
|1 YR||3 YR
|Since Manager Inception
|Indicative Benchmark %||41.72%||13.74%||10.74%||10.54%||N/A|
|Excess Return %||-2.21%||2.91%||2.24%||2.53%||N/A|
|1 YR||3 YR
|Indicative Benchmark %||27.83%||9.76%||9.67%||10.86%|
|Excess Return %||-2.98%||2.67%||1.81%||2.60%|
|Month to DateData as of 26-Nov-2021||Quarter to DateData as of 26-Nov-2021||Year to DateData as of 26-Nov-2021||1 MonthData as of 31-Oct-2021||3 MonthsData as of 31-Oct-2021|
|Indicative Benchmark %||-2.18%||2.58%||18.70%||4.86%||3.05%|
|Excess Return %||1.68%||2.46%||2.31%||0.71%||-0.67%|
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.
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 June 2019, 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^
Largest Top Detractor^
Consumer StaplesNet Contribution 0.66%
Consumer DiscretionaryNet Contribution -0.80%
Industrials & Business Services
SwitzerlandNet Contribution 1.09%
GermanyNet Contribution -0.70%
|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%||65 basis points||0.75%|
|Class Q||€1,000||€100||€100||0.00%||65 basis points||0.82%|
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.