Targeting attractively valued global companies with prospects for improving earnings growth.
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 widely diversified portfolio of undervalued stocks of companies anywhere in the world, including emerging markets.
- 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
- 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%
|1 YR||3 YR
|Indicative Benchmark %||14.45%||11.20%||10.11%||10.78%|
|Excess Return %||-3.35%||-3.34%||-1.98%||-1.75%|
|1 YR||3 YR
|Indicative Benchmark %||8.49%||11.33%||N/A||10.93%|
|Excess Return %||-2.64%||-3.21%||N/A||-1.81%|
|Month to DateData as of 04-Dec-2019||Quarter to DateData as of 04-Dec-2019||Year to DateData as of 04-Dec-2019||1 MonthData as of 31-Oct-2019||3 MonthsData as of 31-Oct-2019|
|Indicative Benchmark %||-1.27%||2.89%||26.88%||0.21%||2.38%|
|Excess Return %||-0.10%||-0.03%||-2.20%||0.12%||0.63%|
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^
JPMorgan ChaseBy 0.41%
Largest Top Detractor^
Edison International (N)1.12%
Verizon Communications (E)0.00%
UtilitiesNet Contribution 0.64%
Consumer StaplesNet Contribution -0.27%
United StatesNet Contribution 0.75%
JapanNet Contribution -0.09%
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.
Mr. Mallet has 19 years of investment experience, 14 of which have been at T. Rowe Price. Prior to joining the firm in 2005, he was a telecom banker at Credit Suisse First Boston in the Tokyo and London offices. Mr. Mallet started his career as a financial analyst with France Telecom, based in Guangzhou, China, and Madrid, Spain.
Mr. Mallet earned an M.A., with honours, in finance from the University of Paris and an M.B.A. from the London Business School.
- Fund manager2014
- 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||UK Tax Reporting Status|
|Class A||$15,000||$100||$100||5.00%||160 basis points||1.77%||No|
|Class I||$2,500,000||$100,000||$0||0.00%||75 basis points||0.85%||No|
|Class Q||$15,000||$100||$100||0.00%||75 basis points||0.92%||No|
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.
T. Rowe Price Funds SICAV and its sub-funds are domiciled in Luxembourg and therefore considered offshore funds for UK tax purposes. Selected share classes of T. Rowe Price Funds SICAV have been designated “Reporting Funds” by HM Revenue & Customs (HMRC) under the guidelines of the UK Offshore Funds Regulation. These share classes report all relevant tax information to HMRC on an annual basis. Details on the information reported are outlined in the SICAV Shareholder Tax Reporting document that is available in the Fund Range Docs drop-down. Investors in “Reporting Fund” share classes who are considered United Kingdom residents for tax purposes will have any accrued gains treated as a capital gain rather than income upon sale or other disposal of their shares.