Strategy
Investment Objective
To increase the value of its shares in the long term through both growth in the value of, and income from, its investments. The fund invests mainly in a diversified portfolio of securities issued by real-estate related companies. The companies may be anywhere in the world, including emerging markets.Investment Approach
- Employ fundamental research with a bottom-up approach.
- Assess the capability, strategy, and management of the business.
- Evaluate the asset base potential.
- Understand the supply and demand dynamics by property and market.
- Analyze balance sheet strength and flexibility.
- Integrate a risk-adjusted perspective throughout our analysis.
- Establish whether we would want to own a business for the long term.
- Leverage the deep knowledge base at T. Rowe Price, including dedicated analysts in North America, Europe, and Asia.
- Real estate is affected by general economic conditions. When growth is slowing, demand for property decreases and prices may decline. Since the fund can invest substantially in foreign securities, it will also be subject to the risks inherent in non-U.S. issues.
Past performance is not a reliable indicator of future performance.
30-Jun-2025 - Jai Kapadia, Portfolio Manager