T. Rowe Price Global Growth Equity Net Zero Transition Fund

Kapitalverlustrisiko. Die Wertentwicklung in der Vergangenheit ist kein zuverlässiger Hinweis auf die aktuellen oder künftigen Ergebnisse. Bitte berücksichtigen Sie bei der Wahl eines Produkts oder einer Strategie auch andere Faktoren.

Die aufgeführten Fonds sind keine vollständige Liste der verfügbaren Fonds. Besuchen Sie www.funds.troweprice.com, um die gesamte Palette der von T. Rowe Price angebotenen Fonds zu sehen, einschließlich derer, die ökologische und soziale Merkmale als Teil ihres Anlageprozesses berücksichtigen. Aktuelle Informationen über die Anlagestrategie der einzelnen T. Rowe Price-Fonds finden Sie in den jeweiligen KID und Prospekten der Fonds.

Strategie

Kurzbeschreibung

Wir setzen auf langfristig erfolgreiche Qualitätsunternehmen mit guter Aussicht auf nachhaltiges Wachstum. Unsere Suche richtet sich auf Titel in attraktiven Branchen, deren fundamentale Rahmenbedingungen sich verbessern und die das Potenzial für überdurchschnittliche, dauerhafte Ertragssteigerungen haben. Die Bewertungen zum Kaufzeitpunkt sollten Kurschancen klar erkennbar sein lassen. Die Förderung ökologischer und sozialer Merkmale wird durch die Selbstverpflichtung des Fonds erreicht, mindestens 50% des Portfoliowertes in nachhaltigen Anlagen zu halten. Gleichzeitig soll das Portfolio zu 100% seines Wertes den Übergang zu Netto-Null erreichen, der erforderlich ist, um die Erderwärmung bis 2050 auf 1,5 Grad zu begrenzen. Der Investmentmanager setzt die folgenden Anlagestrategien ein: Net Zero Transition Framework, einschließlich Engagement, nachhaltige Anlagen und Anwendung von Ausschlussfiltern. Der Portfoliomanager wird durch den Vergleichsindex des Fonds, der lediglich zum Performance-Vergleich dient, nicht eingeschränkt.

Risiken

Die nachstehenden Risiken sind für diesen Fonds erheblich. Weitere Informationen sind im Abschnitt „Risikobeschreibungen“ im Prospekt (Unterlagen zur Fondspalette) enthalten:

• Währung
• Schwellenländer
• Aktien
• Geografische Konzentration
• Hedging
• Investmentfonds
• Management
• Markt
• Operativ
• Small/Mid Caps
• Anlagestil

Typisches Anlegerprofil

Anleger mit mittel- bis langfristigem Anlagehorizont, die:

• am Wachstum ihrer Anlageinvestitionen interessiert sind
• ihre Aktienanlagen diversifizieren möchten
• die Risiken des Fonds verstehen und akzeptieren können, einschließlich der Risiken in Verbindung mit Anlagen in globalen Aktien

31-März-2022 - Scott Berg, Portfoliomanager,

We trimmed our position in discount broker Charles Schwab on strength. We continue to like Charles Schwab for its diverse business model compared with other discount brokers, its top-notch management, history of strong capital allocation, and leverage to rising interest rates. We also think the company is benefiting from capturing the synergies from its 2020 acquisition of TD Ameritrade.
We sold shares of U.S. regional bank Signature Bank. Near-term macroeconomic challenges like higher inflation and the possibility of slowing loan growth have reduced our outlook.
We bought shares of U.S. fast casual restaurant chain Chipotle Mexican Grill. We think Chipotle operates an attractive, non-franchise model with strong business economics, and we believe growth should accelerate as staffing returns to pre-COVID-19 levels and the company continues to expand store growth into smaller towns.
We bought shares of online travel agency Expedia. We think Expedia is a high-quality growth company that is well-positioned to benefit from travel demand normalization as the world continues to learn to live with COVID-19. We also believe the market underappreciates the company's in-house vacation rental business, VRBO, which has been resilient during the pandemic and stands to benefit further from the normalization in travel. Further, Expedia's ongoing overhaul of its cost structure should boost profitability.
We sold shares of Global Payments. Given the stock's strong recent run, we thought the company was more fairly valued, so we chose to reallocate funds to names with greater upside potential.
We sold shares of payroll and human capital management software company Paycom Software. We have higher conviction in Paylocity's ability to drive strong earnings growth over the long term, so we reallocated to Paylocity.
We bought shares of Nutrien, a leading global producer of agricultural fertilizer products like potash, nitrogen, and phosphate. Given the supply chain disruption as a result of the ongoing Russia-Ukraine conflict, we think demand for Nutrien's offerings will accelerate as the market looks for new capacity in potash and nitrogen. We also like Nutrien's retail crop inputs business, which we think could provide some stability and downside protection in an environment with heightened commodity price volatility.
We bought shares of chemical company Albemarle. We think Albemarle has the world's best (lowest-cost and most expandable) lithium assets and believe the company is well positioned to benefit over the long term from accelerating lithium demand as electric vehicles and other technology that relies on lithium batteries grows.

30-Juni-2022 - Scott Berg, Portfoliomanager,

Shares of Brazilian ominichannel retailer Magazine Luiza sank on disappointing earnings results, broader macro pressure in the Brazilian market, and generally bearish sentiment for consumer growth names and concerns about higher inflation's effects on retailers. While positive physical store sales and faster than anticipated normalization in gross profit margins surprised to the upside, these positive data points were overshadowed by higher financial expenses and soft-ecommerce results. We continue to think Magazine Luiza has a best-in-class management team and is a strong, durable grower capable of sustaining well above industry average growth in e-commerce and marketplace retail.
Shares of Snap plunged after the company lowered revenue guidance in late May as the macro environment deteriorated further and faster than management had anticipated, which has put downward pressure on advertiser budgets. However, we continue to have a positive view of the company longer term as engagement, user scale, product velocity, and innovative posture all show very positively despite the near-term economic headwinds.�
A position in chemical company Albemarle contributed to relative results as the stock moved higher after the company reported a sizeable earnings beat and raised full-year guidance driven by stronger lithium numbers. While lithium prices have experienced near-term outsized gains, we think we are on the cusp of a structural lithium upcycle driven by electric vehicle adoption hitting the S-curve and continue to appreciate Albemarle's position in the industry.