In today's global economy, it's crucial to understand the complex connections that affect investment outcomes. Every decision our experienced professionals make is based on detailed research and a long-term perspective. With this disciplined approach, you can feel confident that we are always striving to provide you with consistent results, while taking every possible step to carefully manage risk.
Expertise rewarded
| We're please to say that despite the tough markets, our investment expertise has been rewarded. Barron's magazine has named the T. Rowe Price family of international mutual funds as the "World Equity Leader" of 2009. Barron's ranked T. Rowe Price the #1 "World Equity Fund Family" among 61 fund families based on the performance of its 13 large-cap, well-diversified, world equity funds compared with their Lipper category averages for the one-year period ended 12/31/09.* Past performance cannot guarantee future results. So when it comes to investing in international mutual funds, you can feel confident knowing that our investment teams are combining years of experience with detailed research to stay on top of the rapidly evolving global market. |
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Respected global research
In fact, with 140 analysts around the world, T. Rowe Price has one of the largest and most respected global in-house research departments in the industry. Our analysts travel extensively to research companies in emerging markets before we invest. To support these efforts, we maintain offices in cities around the world, including London, Singapore, Tokyo, Hong Kong, Buenos Aires, and Baltimore.
This global reach makes T. Rowe Price one of the largest managers of no-load international funds in the U.S., with experience, resources, and knowledge that few firms can match.
Funds that invest overseas generally carry more risk than funds that invest strictly in U.S. assets. The specific risk profile of an international fund varies with its investment style and geographic focus and whether it invests in developed markets, emerging markets, or both. Funds investing in a single country or limited geographic region tend to be riskier than more diversified funds. Risks can result from varying stages of economic and political development; differing regulatory environments, trading days, and accounting standards; and higher transaction costs of non-U.S. markets. Investments in emerging markets are subject to abrupt and severe price declines and should be regarded as speculative.
*Barron's, February 1, 2010. In the world equity fund category, T. Rowe Price was ranked 23 of 54 and 19 of 48 fund families for the 5- and 10-year periods ended 12/31/09, respectively. Barron's survey included fund families with at least 3 funds in Lipper's general U.S. stock category; 1 fund in the world equity category, which combines global and international funds; at least 1 mixed-equity fund, which holds stocks and bonds; at least 2 taxable bond funds; and 1 tax-exempt fund. Returns were calculated minus the effects of 12b-1 fees, loads, and sales charges and then measured against the fund's Lipper category average to determine the fund's percentile ranking. This ranking was then weighted by the fund's asset size relative to the fund family's other assets in the overall category (e.g., world equity). Therefore, the larger the fund, the greater its impact on its fund family's overall ranking. Lastly, the fund's score was multiplied by the weighting of its general classification, as determined by the entire Lipper universe of funds. Barron's is a registered trademark of Dow Jones & Company.
Barron's included the following T. Rowe Price funds in its survey: the Institutional Foreign Equity Fund, Global Stock Fund, Global Stock Fund–Advisor Class, Institutional Global Equity Fund, International Discovery Fund, International Equity Index Fund, International Growth & Income Fund, International Growth & Income Fund–Advisor Class, International Growth & Income Fund–R Class, International Stock Fund, International Stock Fund–R Class, Overseas Stock Fund, and Spectrum International Fund.
According to Lipper Inc., and based on 12b-1 fee-adjusted cumulative returns as of 6/30/2010 for the 1-, 5-, and 10-year periods (if applicable), respectively, the Africa & Middle East Fund was ranked #347 of 383 emerging markets funds; the Emerging Europe & Mediterranean Fund was ranked #14 of 383 and #183 of 187 emerging markets funds; the Emerging Markets Bond Fund was ranked #33 of 98, #19 of 49, and #23 of 35 emerging markets debt funds; the Emerging Markets Stock Fund was ranked #155 of 383, #106 of 187, and #63 of 105 emerging markets funds; the European Stock Fund was ranked #86 of 107, #30 of 87, and #38 of 58 European region funds; the Institutional International Growth Fund (formerly the Institutional Foreign Equity Fund) was ranked #43 of 196, #69 of 119, and #40 of 65 international large-cap Growth funds; the Global Large-Cap Stock Fund was ranked #35 of 118 global large-cap growth funds; the Global Technology Fund was ranked #38 of 68 and #27 of 54 global science/technology funds; the Global Real Estate Fund was ranked #21 of 84 global real estate funds; the Global Stock Fund was ranked #65 of 118, #40 of 68, and #9 of 40 global large-cap growth funds; the Global Stock Fund—Advisor Class was ranked #67 of 118 global large-cap growth funds; the Institutional Global Equity Fund was ranked #68 of 118 global large-cap growth funds; the International Bond Fund was ranked #78 of 95, #28 of 49, and 19 of 33 international income funds; the International Discovery Fund was ranked #51 of 82, #18 of 62, and #9 of 23 international small-/mid-cap growth funds; the International Equity Index Fund was ranked #218 of 274 and #82 of 125 international multi-cap core funds; the International Growth & Income Fund was ranked #54 of 129, #27 of 69, and #18 of 38 international multi-cap value funds; the International Growth & Income Fund—Advisor Class was ranked #53 of 129 and #22 of 69 international multi-cap value funds; the International Growth & Income Fund—R Share Class was ranked #55 of 129 and #26 of 69 international multi-cap value funds; the International Stock Fund was ranked #40 of 196, #58 of 119, and #39 of 65 international large-cap growth funds; the International Stock Fund—R Share Class was ranked #44 of 196 and #60 of 119 international large-cap growth funds; the Overseas Stock Fund was ranked #93 of 387 international large-cap core funds; the Japan Fund was ranked #6 of 40, #7 of 18, and #8 of 15 Japanese funds; the Latin America Fund was ranked #15 of 29, #2 of 18, and #5 of 13 Latin American funds; the New Asia Fund was ranked #10 of 54, #2 of 35, and #5 of 29 Pacific ex Japan funds; and the Spectrum International Fund was ranked #68 of 274, #46 of 125, and #42 of 62 international multi-cap core funds. The Global Infrastructure Fund is not yet rated.
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