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.