T. Rowe Price Global Equity (Hedged) (ETL0312AU) Report & Performance

What is the T. Rowe Price Global Equity (Hedged) fund?

T. Rowe Price Global Equity (Hedged) aims to provide long-term capital appreciation by investing primarily in a portfolio of securities of companies which are traded, listed or due to be listed, on recognised exchanges and/or markets throughout the world.

  • The portfolio may include investments in the securities of companies traded, listed or due to be listed, on recognised exchanges and/or markets, of developing countries.
  • The Investment Manager may seek to achieve the Fund’s objective through investment of up to 100% of the Fund’s assets in one or more managed investment schemes, managed by the Investment Manager or an affiliate of the Investment Manager, that have the same or similar investment objectives as the Fund.

Growth of $1000 Investment Over Time

Performance Report

Peer Comparison Report

Peer Comparison Report

Latest News & Updates For T. Rowe Price Global Equity (Hedged)

T. Rowe Price Global Equity (Hedged) Fund Commentary September 30, 2023

The fund performed mostly in line with the MSCI All Country World Index ex Australia Hedged to AUD Net for the one-month period ended September 30, 2023. Apple was the largest relative contributor for the month. Although shares of Apple fell over the month, our position was a relative contributor due to our underweight position versus the benchmark. Shares of Apple were pressured by several factors, including macroeconomic concerns, fears that China would restrict iPhone purchases, and issues involving the new iPhone 15 Pro overheating. We still believe that Apple is well positioned for growth given consistent iPhone demand, market share gains in China, and the firm’s massive research and development program. However, our underweight versus the benchmark is a reflection of the stock’s relatively expensive valuation and uncertainty surrounding the firm’s near-term outlook. At the sector level, stock selection in industrials and business services helped relative returns, with our holdings in SM Investments, Roper Technologies, and Container Corporation of India performing the best. On the other hand, holdings in energy hurt relative returns, especially our positions in EQT and Schlumberger.

READ HISTORICAL PERFORMANCE COMMENTARIES

Product Snapshot

  • Performance Review
  • Product Overview
  • Peer Comparison
  • Product Details

Performance Review

Fund Name Last Month
? Returns after fees in the most recent (last) month).
3 Months Return
? Returns after fees in the most recent 3 months.
1 Year Return
? Trailing 12 month returns.
3 Years Average Return
? Average Annual returns from the last 3 years.
Since Inc. Average Return
? Average (annualised) returns since inception
1 Year Std. Dev. (Annual)
? The standard deviation (or annual volatility) of the last 12 months.
3 Years Std. Dev. (Annual)
? The average standard deviation (or annual volatility) from the last 3 years.
Since Inc. Std. Dev. (Annual)
? The average standard deviation (or annual volatility) since the fund inception.
1 Year Max Drawdown
? The maximum drawdown in the last 12 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
3 Year Max Drawdown
? The maximum drawdown in the last 36 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
Since Inc. Max Drawdown
? The maximum drawdown since inception - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
T. Rowe Price Global Equity (Hedged)1.67%3.49%26.85%-0.75%11.23%9.95%15.91%15.09%-3%-33.68%-34.56%

Product Overview

Peer Comparison

Product Details

Product Due Diligence

What is T. Rowe Price Global Equity (Hedged)

T. Rowe Price Global Equity (Hedged) is an Managed Funds investment product that is benchmarked against Developed -World Index and sits inside the Foreign Equity - Currency Hedged Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The T. Rowe Price Global Equity (Hedged) has Assets Under Management of 560.99 M with a management fee of 0.96%, a performance fee of 0 and a buy/sell spread fee of 0.45%.

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Historical Performance Commentary

Performance Commentary - August 31, 2023

The fund performed mostly in line with the MSCI All Country World Index ex Australia Hedged to AUD Net for the one-month period ended August 31, 2023. Adyen was the largest relative detractor for the month. Adyen is a full-stack payments platform that consists of providing gateway, acquiring, risk management, processing, settlement, and issuing services.

Shares sold off sharply following the release of very poor earnings results that underperformed already low consensus expectations. Results were mainly driven by a slowdown in the U.S. segment due to merchant costcutting, increasing competition, higher capital expenditures, and challenges with offline services. We still believe Adyen has a long runway for above-market growth driven by secular trends and a technological advantage over incumbents that is very difficult to replicate, but given these disappointing earnings results, we chose to moderate our position size. At the sector level, stock selection in financials hurt relative returns, with our holdings in Adyen and NU Holdings performing the worst. On the other hand, holdings in information technology helped relative returns, especially our positions in FPT and NVIDIA.

Performance Commentary - July 31, 2023

Performance Commentary - June 30, 2023

Performance Commentary - May 31, 2023

Performance Commentary - April 30, 2023

Performance Commentary - March 31, 2023

Performance Commentary - February 28, 2023

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