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 2024 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
A 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, Issuer concentration risk
Past performance is not a reliable indicator of future performance.
OEIC inception date
10 December 2021
SICAV inception date
10 August 2020
Comparator 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. Equity risk – In general, equities involve higher risks than bonds or money market instruments. Geographic concentration risk – To the extent that a fund invests a large portion of its assets in a particular geographic area, its performance will be more strongly affected by events within that area. Investment fund risk – Investing in funds involves certain risks an investor would not face if investing in markets directly. Management risk – The investment manager or its designees may at times find their obligations to a fund to be in conflict with their obligations to other investment portfolios they manage (although in such cases, all portfolios will be dealt with equitably). Market risk – Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Operational risk – operational failures could lead to disruptions of fund operations or financial losses.
Important Information
The SICAV 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”). The OEIC Funds are sub-funds of the T. Rowe Price Funds OEIC, an investment company with variable capital incorporated in England and Wales which is registered with the UK Financial Conduct Authority and which qualifies as a 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 and via www.troweprice.com. A summary of investor rights for the T. Rowe Price Funds SICAV is available in English at www.troweprice.com . The Management Company reserves the right to terminate marketing arrangements.
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 and via www.troweprice.com.
This material is being furnished for general informational and/or marketing purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, nor is it intended to serve as the primary basis for an investment decision. Prospective investors are recommended to seek independent legal, financial and tax advice before making any investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc. and/or its affiliates receive revenue from T. Rowe Price investment products and services. Past performance is not a reliable indicator of future performance. 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.
The material does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The material has not been reviewed by any regulatory authority in any jurisdiction.
Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources’ accuracy or completeness. There is no guarantee that any forecasts made will come to pass. The views contained herein are as of the date written and are subject to change without notice; these views may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price.
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