In this video, Wenli Zheng answers questions about the China Evolution Equity Strategy.
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Unconstrained China equity investing
- Seek attractive investment opportunities across the full spectrum of onshore and offshore China equity markets
- Being benchmark-unconstrained, we take a truly active approach
Investing in change
- Identify change in business fundamentals or investor behaviour
- We believe mispricing could arise in areas where future fundamentals will be different from the past
Going beyond the obvious¹
- The team seeks to invest beyond the top 100 mega cap names and focus on where change and growth are underappreciated
- In other words, we look to focus on the other 98% of the opportunity set
¹ Source: MSCI, FactSet. Financial data and analytics provider FactSet. Copyright 2023 FactSet. All Rights Reserved. The opportunity set is defined as all Chinese companies listed onshore and offshore in the China Universe. The 100 largest companies (with a market cap above roughly USD 20-30bn) represent around 2% of this opportunity set..
Video
Introduction to the China Evolution Equity Strategy
Video
Three minutes with Rob Secker
(Part of Investment Week’s ‘Three minutes with’ series)
In this video, Portfolio Specialist, Rob Secker explains how the Strategy allows investors to delve deeper into Chinese markets and uncover hidden opportunities.
China Evolution Equity Fund
An actively managed, style agnostic, index unconstrained portfolio
Risks - The following risks are materially relevant to the fund: Country risk (China), Currency risk, Emerging markets risk, Small and mid-cap risk, Stock Connect risk, Issuer concentration risk.
SICAV inception date
10 August 2020
benchmark*
MSCI China All Shares Index Net
Full details of the fees payable by investors are available within the offering document.
*The manager is not constrained by the fund's benchmark, which is used for performance comparison purposes only.
Thinking
China Equity Insights
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General fund risks - to be read in conjunction with the fund specific risks above. Capital risk – the value of your investment will vary and is not guaranteed. It will be affected by changes in the exchange rate between the base currency of the fund and the currency in which you subscribed, if different. Counterparty - Counterparty risk may materialise if an entity with which the fund does business becomes unwilling or unable to meet its obligations to the fund. ESG and sustainability - ESG and Sustainability risk may result in a material negative impact on the value of an investment and performance of the fund. Geographic concentration - Geographic concentration risk may result in performance being more strongly affected by any social, political, economic, environmental or market conditions affecting those countries or regions in which the Fund’s assets are concentrated. Hedging - Hedging measures involve costs and may work imperfectly, may not be feasible at times, or may fail completely. Investment fund - Investing in funds involves certain risks an investor would not face if investing in markets directly. Management - Management risk may result in potential conflicts of interest relating to the obligations of the investment manager. Market - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Operational - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes.
* All figures are as at 30 June 2023 unless stated otherwise.
Important Information
The Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital which is registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective investment in transferable securities (“UCITS”). Full details of the objectives, investment policies and risks are located in the prospectus which is available with the key investor information documents (KIID) and/or key information document (KID) in English and in an official language of the jurisdictions in which the Funds are registered for public sale, together with the articles of incorporation and the annual and semi-annual reports (together “Fund Documents”). Any decision to invest should be made on the basis of the Fund Documents which are available free of charge from the local representative, local information/paying agent or from authorised distributors. They can also be found along with a summary of investor rights in English at www.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.
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