T. Rowe Price Institutional Africa & Middle East Fund

C000062668 Fund Overview

T. Rowe Price Institutional Africa & Middle East Fund is a US mutual fund managed by T. Rowe Price Global Funds, Inc., categorised as Emerging Markets Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: T. Rowe Price Global Funds, Inc.
• Category: Emerging Markets Blend / Core Equity
• Assets under management: $26.73M
• SEC CIK: 0000852254
• SEC series ID: S000021841
• Share class ID: C000062668

C000062668 Investment Objective and Strategy

T. Rowe Price Institutional Africa & Middle East Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by T. Rowe Price Global Funds, Inc..

Investment objective

The fund seeks long-term growth of capital by investing primarily in the common stocks of companies located (or with primary operations) in Africa and the Middle East.

Principal investment strategy

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in African and Middle Eastern companies. For purposes of determining whether the fund invests at least 80% of its net assets in African and Middle Eastern companies, the fund relies on the country assigned to a security by MSCI Inc. or another unaffiliated data provider. The fund expects to primarily invest in common stocks and participation notes (P-notes) linked to common stocks of companies located (or with primary operations) in Africa and the Middle East. The countries in which the fund normally invests include, but are not limited to, the following: Primary Emphasis: Bahrain, Egypt, Jordan, Kenya, Kuwait, Lebanon, Morocco, Nigeria, Oman, Qatar, Saudi Arabia, South Africa, and United Arab Emirates.

Others: Algeria, Angola, Botswana, Ghana, Ivory Coast, Mauritius, Mozambique, Namibia, Niger Republic, Rwanda, Senegal, Syria, Tanzania, Tunisia, Uganda, Zambia, and Zimbabwe. The fund is nondiversified, meaning it may invest a greater portion of its assets in a single company and own more of the companys voting securities than is permissible for a diversified fund. The funds portfolio is expected to be composed of investments in about 50 to 80 different companies, although the number could vary depending on market conditions. The fund may purchase the stocks of companies of any size. While most assets will be invested directly in common stocks, the fund may gain exposure to common stocks by purchasing P-notes that offer a return linked to a particular underlying common stock. P-notes are primarily used to invest indirectly in certain stocks that trade in a market that restricts foreign investors, such as the fund, from investing directly in that market.

The fund may make substantial investments (at times more than 25% of its total assets) in telecommunications and banking companies in various African and Middle Eastern countries. While the adviser invests with an awareness of the outlook for certain industry sectors and individual countries within the region, the advisers decision-making process focuses on bottom-up stock selection. Country allocation is driven largely by stock selection, though the adviser may limit investments in markets or industries that appear to have poor overall prospects. Security selection reflects a growth style. The adviser relies on a global team of investment analysts dedicated to in-depth fundamental research in an effort to identify companies capable of achieving and sustaining above-average, long-term earnings growth.

The adviser seeks to purchase stocks of companies at reasonable prices in relation to present or anticipated earnings, cash flow, or book value. In selecting investments, the adviser generally favors companies with one or more of the following characteristics: leading or improving market position; attractive business niche; attractive or improving franchise or industry position; seasoned management; stable or improving earnings and/or cash flow; and sound or improving balance sheet. The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.

C000062668 Costs and Fees

C000062668 costs about $131 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.31%
• Gross expense ratio: 1.31%
• Portfolio turnover: 40%
• Brokerage commissions: 29.98 bps of average net assets (SEC N-CEN)

C000062668 Cashflows

Over the 12 months to 2020-04, T. Rowe Price Institutional Africa & Middle East Fund had net inflows of $24.92M, from monthly SEC N-PORT filings.

C000062668 Debt Constituents

No individual debt constituents are reported in T. Rowe Price Institutional Africa & Middle East Fund's latest SEC N-PORT filing.

C000062668 Prospectus and SEC Filings

Official T. Rowe Price Institutional Africa & Middle East Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-03-12
• Prospectus (485BPOS) — filed 2019-03-12
• Prospectus (485BPOS) — filed 2018-03-13
• Portfolio holdings (N-PORT) — filed 2020-06-25
• Portfolio holdings (N-PORT) — filed 2020-03-27
• Portfolio holdings (N-PORT) — filed 2019-12-23
• Annual census (N-CEN) — filed 2020-01-10
• Annual census, amended (N-CEN/A) — filed 2019-08-23

Related Funds

Other Emerging Markets Blend / Core Equity funds tracked on ABC INVEST:

• Strategic Advisers Fidelity Emerging Markets Fund (FGOMX)
• iShares MSCI South Korea ETF (EWY)
• Strategic Advisers Emerging Markets Fund (FSAMX)
• iShares MSCI Taiwan ETF (EWT)
• iShares MSCI Brazil ETF (EWZ)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.