SICAV
European Select Equity Fund
A high-conviction, concentrated all-cap portfolio of around 25-45 primarily European-listed companies. Unconstrained by sector or country, we seek to invest in higher quality businesses at attractive valuations which we believe are being systematically underappreciated by the market.
ISIN LU2041631891
View more information on risks
FACTSHEET
KIID
Risk & Reward ?
(SRRI)
1 2 3 4 5 6 7 Data as of: 30-Sep-2020
NAV
(EUR)
€11.39
Data as of: 21-Oct-2020
1YR Return
(Annualised)
9.66%
Data as of: 30-Sep-2020
Fund Size
(EUR)
€7.1m
Data as of: 30-Sep-2020
Perf Change
(Daily)
-1.13%
Data as of: 21-Oct-2020
3YR Return
(Annualised)
N/A
Data as of: 30-Sep-2020

Overview
Strategy
Fund Summary
We leverage our strong research team to identify companies with durable business models that we believe are positioned firmly on the right side of change, or those companies undergoing idiosyncratic changes which in our view will help deliver improving shareholder returns. Disciplined portfolio construction focuses on those stocks with the most compelling risk/reward profiles.
SMALL-CAP
MID-CAP
LARGE-CAP

38
Holdings

Style
Value
Risk & Reward Data

Risk return statistics are not available until 3 years of data is available.
Performance - Net of Fees
Current Year Performance
MTD
1.33%
Benchmark*
-0.04%
Excess Return

1.37%
QTD
1.33%
Benchmark*
-0.04%
Excess Return

1.37%
YTD
3.64%
Benchmark*
-12.78%
Excess Return

16.42%
Data as of 21-Oct-2020
1 Month
1.08%
Benchmark*
-1.41%
Excess Return

2.49%
3 Months
6.44%
Benchmark*
0.10%
Excess Return

6.34%
Data as of 30-Sep-2020
 
Annualised Performance
1 YR
9.66%
Benchmark*
-7.76%
Excess Return

17.42%
3 YR
N/A
Benchmark*
N/A
Excess Return

N/A
5 YR
N/A
Benchmark*
N/A
Excess Return

N/A
Inception
11.72%
Benchmark*
-5.89%
Excess Return

17.61%
Manager Inception
11.72%
Benchmark*
-5.89%
Excess Return

17.61%
Data as of 30-Sep-2020
Indicative Benchmark : MSCI Europe Index Net
Fund Inception: 10-Sep-2019
Manager Inception: 10-Sep-2019

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Holdings
Total
Holdings
38
Largest
London Stock Exchange
4.89%
Was ( 30-Jun-2020 )

4.84%
Top 10
37.14%
Contributor
Symrise
By 0.96%
% of fund
4.25%
Detractor
ASML Holding
By -0.83%
% of fund
4.52%
Purchase
SAP (N)
3.31%
Was ( 30-Jun-2020 )
0.00%
Sale
Hexagon (E)
0.00%
Was ( 30-Jun-2020 )
2.95%
Data as of 30-Sep-2020
Sectors
Total
Sectors
9
Largest
Consumer Discretionary
18.75%
Was ( 31-Aug-2020 )
18.48%
Contributor
Financials
By 1.75%
Sector
0.15%
Selection
1.60%
Detractor
Real Estate
By -0.11%
Sector
0.00%
Selection
-0.11%
Data as of 30-Sep-2020
Over
Consumer Discretionary
By 8.13%
Fund
18.75%
Benchmark*
10.62%
Under
Consumer Staples
By -9.69%
Fund
5.14%
Benchmark*
14.84%
Data as of 30-Sep-2020
Data as of 30-Sep-2020
Indicative Benchmark: MSCI Europe Index

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Regions
Data as of
Countries
Total
Countries
11
Largest
United Kingdom
23.84%
Was ( 31-Aug-2020 )
23.00%
Contributor
Germany
By 1.81%
Country
0.13%
Selection
1.68%
Detractor
Portugal
By -0.27%
Country
-0.16%
Selection
-0.11%
Data as of 30-Sep-2020
Over
Germany
By 4.72%
Fund
20.17%
Benchmark*
15.45%
Under
France
By -10.91%
Fund
6.18%
Benchmark*
17.09%
Data as of 30-Sep-2020
Data as of 30-Sep-2020
Indicative Benchmark: MSCI Europe Index

* The index shown is not a formal benchmark. It is shown only for comparison purposes.


Team
Tobias Mueller,
Portfolio Manager
Tobias Mueller is the portfolio manager for the European Select Strategy, effective October 2018. Previously, he covered the technology, medical technology and exchange sectors as a research analyst in the Equity Division.
Portfolio Manager since
2019
Years at T. Rowe Price
10
Years investment experience
13
Andrew Clifton,
Portfolio Specialist
Andrew Clifton is a portfolio specialist in the Equity Division at T. Rowe Price.
Portfolio Specialist since
2019
Years at
T. Rowe Price
9
Years investment experience
30
How to Invest
Fees Minimum Initial Investment and Holding Amount Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1
Class A €1,000 €100 5.00% 160 basis points 1.77%
Class Q €1,000 €100 N/A 75 basis points 0.92%
Class I €2,500,000 €100,000 N/A 75 basis points 0.85%

Indicative Benchmark Data Source: MSCI. MSCI and its affiliates and third party sources and providers (collectively, “MSCI”) makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. Historical MSCI data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Past performance is not a reliable indicator of future performance.

Source for performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges (up to a maximum of 5% for the A Class), taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.

The 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”). 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.

Daily performance data is based on the latest available NAV.  

Please note that the Fund typically has a risk of high volatility.

The specific securities identified and described in this website do not represent all of the securities purchased, sold, or recommended for the sub-fund and no assumptions should be made that the securities identified and discussed were or will be profitable.

A full list of the currently issued Share Classes including Distributing, Hedged, and Accumulating Categories may be obtained, free of charge and upon request, from the registered office of the Company.  

1 Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.