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GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. T. Rowe Price has been independently verified for the twenty four-year period ended June 30, 2020, by KPMG LLP. The verification report is available upon request. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis. Verification does not provide assurance on the accuracy of any specific performance report.

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

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SICAV

Global Value Equity Fund

Targeting attractively valued global companies with prospects for improving earnings growth.

ISIN LU0859255472 Bloomberg TRPGVEI:LX

3YR Return Annualised
(View Total Returns)

Total Assets
(USD)

17.23%
$543.5m

1YR Return
(View Total Returns)

Manager Tenure

16.40%
9yrs

Information Ratio
(5 Years)

Tracking Error
(5 Years)

-1.03
4.47%

Inception Date 28-Nov-2012

Performance figures calculated in USD

31-Dec-2021 - Sebastien Mallet, Portfolio Manager,
As the global economic recovery continues to strengthen, this could provide a more sustained positive backdrop for value investing. A more positive stance in the market’s longer-term prognosis for inflation and interest rates should similarly be very supportive. Our strategy continues to invest across the value spectrum in the best ideas from our global analysts.
Sebastien Mallet
Sebastien Mallet, Portfolio Manager

Sebastien Mallet is a portfolio manager in the Equity Division at T. Rowe Price, managing the Institutional Global Value Strategy. Mr. Mallet is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

 

Strategy

Investment Objective

To 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 undervalued stocks of companies anywhere in the world, including emerging markets.

Investment Approach

  • Diversified portfolio investing in companies located throughout the globe.
  • Emphasize attractively valued companies with prospects for improving earnings growth.
  • Employ rigorous and comprehensive research to identify and assess investment opportunities.
  • Allocate country and sector positions through consideration of:~~Attractiveness of individual investments^^~~Macroeconomic environment^^
  • 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.

Portfolio Construction

  • Typically 80-100 stock portfolio
  • Individual positions typically range from 0.30% to 3.00% — average position size of 1.00%
  • Country and sector weights generally range +/- 15% deviation from the benchmark
  • Maximum of 10% in emerging markets
  • Reserves range from 0% to 10%

Regions

Total
Regions
6
Largest Region North America 63.78% Was (30-Nov-2021) 63.41%
Other View complete Region Diversification

Monthly Data as of 31-Dec-2021

Indicative Benchmark: MSCI World Index

Top Contributor^

Latin America
Net Contribution 0.02%
Region
-0.12%
Selection 0.14%

Top Detractor^

Developed Europe
Net Contribution -1.30%
Region
-0.03%
Selection
-1.27%

^Relative

Quarterly Data as of 31-Dec-2021

Largest Overweight

Japan
By3.36%
Fund 9.60%
Indicative Benchmark 6.24%

Largest Underweight

North America
By-8.27%
Fund 63.78%
Indicative Benchmark 72.05%

Monthly Data as of 31-Dec-2021

Countries

Total
Countries
19
Largest Country United States 60.65% Was (30-Nov-2021) 60.34%
Other View complete Country Diversification

Monthly Data as of 31-Dec-2021

Indicative Benchmark: MSCI World Index

Largest Overweight

Japan
By3.36%
Fund 9.60%
Indicative Benchmark 6.24%

Largest Underweight

United States
By-8.14%
Fund 60.65%
Indicative Benchmark 68.80%

Monthly Data as of 31-Dec-2021