A fund focusing on innovation and technological change by investing in companies that are ushering in or benefiting from rapid advances in technology

At a glance:

Fund launch date:
ISIN:

OEIC:

27 March 2017

OEIC:

GB00BD446K01

SICAV:

22 July 2016

SICAV:

LU1453466572

OCF:
Sedol:

OEIC:

1.02%

OEIC:

BD446K0

SICAV:

1.02%

SICAV:

BDHDRC3

Alan Tu

Portfolio Manager

Why T. Rowe Price Global Technology Equity Fund?

The fund is designed to focus on innovation and technological change by investing in companies that are ushering in or benefiting from rapid advances in technology.

We seek to invest in only those innovative companies that we believe have durable competitive advantages and compelling growth prospects. Typically, that will be companies with valuable intellectual property, which operate businesses with high barriers to entry, that boast large addressable markets, and have accelerating fundamentals.
We invest globally where we identify the most attractive opportunities in long-term secular themes, often beyond traditional technology sectors. As well as blue-chip firms with established track records of developing and marketing technology, we also consider smaller, younger companies that are at the forefront of innovation. While there is inherent risk in investing in a specific sector, we believe our rigorous research process helps us create a portfolio that offers the best risk/reward scenario for our clients.

Ratings

Harnessing our best ideas globally with T. Rowe Price Global Technology Equity Fund

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It appears that we are still relatively early in a golden age for technology innovation, as the extraordinary power of the internet has enabled unprecedented value creation for both companies and investors.

Alan Tu,
Portfolio Manager

3 reasons to consider this fund

Our Global Technology Equity fund invests in global technology companies and those firms enabled by technology, in particular those businesses positively impacted from change, innovation, and disruption.

1

Growth in a low growth world

We believe investing in a portfolio of technology companies offers investors an attractive opportunity to achieve growth over the long term regardless of the overall market environment. Technology is one area able to drive its own growth through innovation, new products, and product cycles as well as market share gains. In a low-growth world, this is where growth can be found.

2

Exposure to long term secular trends

We look to invest behind very durable, long runway investment themes in the portfolio. We believe that secular trends in areas such as e-commerce, cloud computing, big data, and artificial intelligence, many still in their relative infancy, should offer meaningful upside potential over the long term for quality technology companies exposed to these drivers.

3

Breadth and depth of our expertise

As a firm, we’ve been managing technology assets since 1987. A dedicated team of experienced technology analysts backed by our global research platform provides comprehensive coverage of both public and private markets, to better understand the future prospects of individual companies and invest on the right side of change.

Key Risks

The following risks are materially relevant to the fund (refer to prospectus for further details):

Country risk (China) – all investments in China are subject to risks similar to those for other emerging markets investments. In addition, investments that are purchased or held in connection with a QFII licence or the Stock Connect program may be subject to additional risks.

Issuer concentration risk – to the extent that a fund invests a large portion of its assets in securities from a relatively small

number of issuers, its performance will be more strongly affected by events affecting those issuers.

Sector concentration risk – the performance of a fund that invests a large portion of its assets in a particular economic sector (or, for bond funds, a particular market segment), will be more strongly affected by events affecting that sector or segment of the fixed income market.

Small and mid-cap risk – stocks of small and mid-size companies can be more volatile than stocks of larger companies.

Stock connect risk – the fund may invest in certain Shanghai-listed and Shenzhen-listed securities (“Stock Connect Securities”) through the Shanghai-Hong Kong Stock Connect or the Shenzhen-Hong Kong Stock Connect respectively (“Stock Connect”). This mechanism carries higher risk.

Style risk – different investment styles typically go in and out of favour depending on market conditions and investor sentiment.

Volatility risk – the performance of the fund has a risk of high volatility.

General fund risks – to be read in conjunction with the fund specific risks above.

Capital risk – the value of your investment will vary and is not guaranteed. It will be affected by changes in the exchange rate between the base currency of the fund and the currency in which you subscribed, if different.

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.

Hedging risk – a Fund’s attempts to reduce or eliminate certain risks through hedging may not work as intended. 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).

Operational risk – operational failures could lead to disruptions of fund operations or financial losses.

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*T. Rowe Price Funds SICAV – Global Technology Equity Fund and T. Rowe Price Funds OEIC – Global Technology Equity Fund.

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 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. Please note that the Funds typically have a risk of high volatility.

Past performance is not a reliable indicator of future performance.

Ratings data as at 31 December 2020 unless otherwise stated.

Morningstar Analyst Rating™ calculated annually. Bronze rating as at 10 August 2020.

2020 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For further information on ratings methodology please visit www.morningstar.com

© 2020 FE. All Rights Reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FE, (2) may not be copied or redistributed, (3) do not constitute investment advice offered by FE, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete, or accurate. FE shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. FE does not guarantee that a fund will perform in line with its FE Crown Fund Rating as it is a reflection of past performance and Rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision. www.trustnet.com

Alan Tu

Portfolio Manager

Alan Tu is the portfolio manager for the Global Technology Equity Strategy. Alan’s investment experience began in 2012, and he has been with T. Rowe Price since 2014, beginning in the US Equity Division. After that, he was an investment analyst following software companies in the technology sector. He also served as a summer intern in 2013.

Prior to T. Rowe Price, Alan was employed by Ananda Capital Management as an analyst, conducting analyses of small-cap Chinese and US equities. He also was a valuation associate at Huron Consulting Group.

Alan earned a B.S., summa cum laude, in business administration from the University of California, Berkeley, and an M.B.A., with honours, from the University of Chicago, Booth School of Business. He also has earned the Chartered Financial Analyst® designation.

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