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®) 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

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)

13.53%
4.37%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

14.50%
0.81

Inception Date 31-May-2014

Performance figures calculated in USD

Eric C. Moffett
Eric C. Moffett, Portfolio Manager

Eric Moffett is a portfolio manager in the International Equity Division. He manages the Asia Opportunities Equity Strategy and is chairman of the strategy's Investment Advisory Committee. Eric also is a co-portfolio manager of the Emerging Markets Equity Strategy. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Singapore Private Limited.

 

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
59
Largest Holding Taiwan Semiconductor Manufacturing 10.12% Was (30-Jun-2021) 9.13%
Other View Full Holdings Quarterly data as of  30-Sep-2021
Top 10 Holdings 43.31% View Top 10 Holdings Monthly data as of  30-Sep-2021

Top Purchase

AIA Group
3.07%
Was (30-Jun-2021) 2.15%

Top Sale

ASML Holding
1.80%
Was (30-Jun-2021) 2.95%

Quarterly Data as of 30-Sep-2021

Sectors

Total
Sectors
10
Largest Sector Consumer Discretionary 25.60% Was (30-Jun-2021) 27.65%
Other View complete Sector Diversification

Monthly Data as of 30-Sep-2021

Benchmark: MSCI All Country Asia ex Japan Index

Top Contributor^

Information Technology
Net Contribution 0.76%
Sector
-0.11%
Selection 0.87%

Top Detractor^

Consumer Staples
Net Contribution -0.81%
Sector
0.09%
Selection
-0.90%

^Relative

Quarterly Data as of 30-Sep-2021

Largest Overweight

Consumer Discretionary
By9.75%
Portfolio 25.60%
Benchmark 15.85%

Largest Underweight

Materials
By-4.79%
Portfolio 0.62%
Benchmark 5.42%

Monthly Data as of 30-Sep-2021

Countries

Total
Countries
10
Largest Country China 39.98% Was (30-Jun-2021) 42.28%
Other View complete Country Diversification

Monthly Data as of 30-Sep-2021

Benchmark: MSCI All Country Asia ex Japan Index

Top Contributor^

Netherlands
Net Contribution 0.71%
Country
0.71%
Selection 0.00%

Top Detractor^

India
Net Contribution -0.98%
Country
-0.55%
Selection
-0.43%

^Relative

Quarterly Data as of 30-Sep-2021

Largest Overweight

Philippines
By4.22%
Portfolio 4.96%
Benchmark 0.74%

Largest Underweight

South Korea
By-5.44%
Portfolio 9.01%
Benchmark 14.45%

Monthly Data as of 30-Sep-2021