New Fund Expands International Investment Opportunities
BALTIMORE, Jan. 29 /PRNewswire-FirstCall/ -- T. Rowe Price has expanded
its international investment opportunities by launching the Overseas Stock
Fund. The investment style of the new fund falls in between the firm's
value-oriented International Growth & Income Fund and its growth-oriented
International Stock Fund.
Incepted on Dec. 29, 2006, the fund is managed by Raymond A. Mills,
Ph.D., CFA, who has nine years of experience with T. Rowe Price, including
serving as portfolio manager of the International Growth & Income Fund
since 2002 and of the firm's Non-U.S. Equity Core Strategy since 2000.
The Overseas Stock Fund seeks long-term capital growth by investing in
the common stocks of established companies outside the United States and
has the flexibility to search out particularly promising opportunities
wherever they may be. At least 65 percent of its investments will be in
large-capitalization companies with the remainder largely in mid-cap
stocks.
"At any given time, the fund will have exposure to a fairly wide range
of stocks across most non-U.S. developed markets, select emerging markets
and most or all economic sectors," Mr. Mills says. "This diversified
approach, together with the fund's emphasis on larger-cap, developed-market
investments make the Overseas Stock Fund an appropriate choice as an
international equity holding."
Mr. Mills uses a rigorous, bottom-up approach to stock selection,
looking for companies that offer the best mix of both fundamentals and
valuations. "We look for the most favorable combinations of growth and
valuation, placing the fund, in aggregate, near the center of the
growth-value spectrum," Mr. Mills says. "The ability to seek promising
investments from a broad opportunity set is enabled by the wealth of
resources at T. Rowe Price, most important our global team of investment
research analysts."
Because of its broadly diversified portfolio, the Overseas Stock Fund
has a relatively moderate risk profile. However, international investing
does entail special risks - among them, political, currency and market
liquidity risks - that will give this fund more volatility than a
comparable domestic fund.
The Overseas Stock Fund is a no-load fund. Minimum initial investment
is $2,500 or $1,000 for Individual Retirement Accounts and gifts or
transfers to minors (UGMA/UTMA). Investors also can open an account with as
little as $50 a month by using T. Rowe Price's Automatic Asset Builder
program. Request a prospectus or briefer profile by calling 1-800-638-5660
or visiting http://www.troweprice.com; each includes investment objectives,
risks, fees, expenses and other information that you should read and
consider carefully before investing. T. Rowe Price Investment Services,
Inc. distributor.
Founded in 1937, Baltimore-based T. Rowe Price (Nasdaq: TROW) is a
global investment management firm with $334.7 billion in assets under
management as of December 31, 2006. The firm provides a broad array of
mutual funds, sub- advisory services, and separate account management for
individual and institutional investors, financial intermediaries, and
retirement plans. It also offers sophisticated investment planning and
guidance tools. T. Rowe Price's disciplined, risk-aware investment approach
focuses on diversification, style consistency, and fundamental research.
SOURCE T. Rowe Price
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Related links:
http://www.troweprice.com
CONTACT:
Robert Benjamin, +1-410-345-2205, Brian
Lewbart, +1-410-345-2242, or Steve Norwitz, +1-410-345-2124, all
of T. Rowe Price Associates
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