Morningstar Fund Report  | 02/04/2025Print

T. Rowe Price Funds OEIC Japanese Equity Fund C Acc GBP

Performance History28/02/2025
Growth of 1,000 (GBP) Advanced Graph
T. Rowe Price Funds OEIC Japanese Equity Fund C Acc GBP
Fund-10.4-18.0-2.79.22.9
+/-Cat-12.7-10.8-14.80.02.7
+/-B’mrk-12.7-12.1-16.1-1.13.4
 
Category: Japan Large-Cap Equity
Category Benchmark: Morningstar Japan TME NR JPY
Key Stats
NAV
01/04/2025		 GBP 13.15
Day Change 0.03%
Morningstar Category™ Japan Large-Cap Equity
IA (formerly IMA) Sector Japan
ISIN GB00BD446L18
Fund Size (Mil)
01/04/2025		 GBP 11.79
Share Class Size (Mil)
01/04/2025		 GBP 7.28
Max Initial Charge -
Ongoing Charge
10/02/2025		  0.69%
Morningstar Research
Analyst Report04/02/2025
Ronald van Genderen, Senior Analyst
Morningstar, Inc

We continue to see T. Rowe Price Japanese Equity as one of the strongest strategies for growth-oriented Japan equity exposure, despite its recent underperformance, some turnover in its supporting personnel, and several tweaks to its positioning....

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent25
Process24
Performance
Price
Investment Objective: T. Rowe Price Funds OEIC Japanese Equity Fund C Acc GBP
To increase the value of its shares through growth in the value of its investments. The fund is actively managed and invests mainly in a widely diversified portfolio of shares of companies in Japan. Specifically, the fund invests at least 70% of total assets in shares and related securities of companies that are either incorporated in Japan or conduct most of their business there.
Returns
Trailing Returns (GBP)01/04/2025
YTD2.32
3 Years Annualised1.14
5 Years Annualised3.70
10 Years Annualised-
12 Month Yield 0.94
Management
Manager Name
Start Date
Hiroshi Watanabe
01/07/2024
Inception Date
13/03/2017

Category Benchmark
Fund BenchmarkMorningstar Benchmark
TOPIX NR JPYMorningstar Japan TME NR JPY
Portfolio Profile for  T. Rowe Price Funds OEIC Japanese Equity Fund C Acc GBP28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock100.110.00100.11
Bond0.000.000.00
Property0.000.000.00
Cash0.000.11-0.11
Other0.000.000.00
Top 5 Regions%
Japan100.00
United States0.00
Canada0.00
Latin America0.00
United Kingdom0.00
Top 5 Sectors%
Industrials22.54
Financial Services17.11
Technology13.80
Consumer Cyclical12.01
Basic Materials8.23
Top 5 HoldingsSector%
Sony Group CorpTechnologyTechnology6.57
Mitsubishi UFJ Financial Group IncFinancial ServicesFinancial Services5.72
ITOCHU CorpIndustrialsIndustrials3.95
Seven & i Holdings Co LtdConsumer DefensiveConsumer Defensive3.55
Tokio Marine Holdings IncFinancial ServicesFinancial Services3.29
Increase Decrease New since last portfolio
T. Rowe Price Funds OEIC Japanese Equity Fund C Acc GBP
Growth Of 1000 (GBP) 28/02/2025
Fund:  T. Rowe Price Funds OEIC Japanese Equity Fund C Acc GBP
Category:  Japan Large-Cap Equity
Category Index:  Morningstar Japan TME NR JPY
Growth of 1,000 GBP
Annual Returns (GBP)28/02/2025
 201820192020202120222023202428/02
Price Return-8.2921.5531.83-10.38-18.01-2.709.232.88
+/- Category2.086.8319.97-12.68-10.77-14.77-0.042.67
+/- Category Index-1.027.2021.47-12.67-12.12-16.06-1.053.40
% Rank in Category31759991100598
Trailing Returns (GBP)01/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.03   2.47-0.23
1 Week-3.37   -0.120.37
1 Month-0.55   1.841.32
3 Months2.32   4.374.69
6 Months5.42   5.607.12
YTD2.32   4.374.69
1 Year1.95   4.664.65
3 Years Annualised1.14   -4.02-5.30
5 Years Annualised3.70   -3.98-4.89
10 Years Annualised-   --
 
Category: Japan Large-Cap Equity
Category Index: Morningstar Japan TME NR JPY
Quarterly Returns (GBP)28/02/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20249.63-3.96-0.083.83
20230.73-1.65-3.732.02
2022-13.80-12.526.911.70
2021-5.26-2.496.44-8.86
2020-9.3422.018.689.67
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearLowLow1 star
5-YearLowAbove Average1 star
10-Year--Not Rated
OverallLowAverage1 star
 
Category :  Japan Large-Cap EquityClick here to see our Methodology
Volatility Measurements28/02/2025
 
3-Yr Std Dev10.81 %
3-Yr Mean Return1.56 %
 
3-Yr Sharpe Ratio-0.22
 
Modern Portfolio Statistics28/02/202528/02/2025
 Standard IndexBest Fit Index
 Morningstar Japan TME NR JPY  Morningstar Gbl Growth TME NR USD
3-Yr Beta0.720.55
3-Yr Alpha-2.13-1.94
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 13644-
Market Capitalisation% of Equity
Giant45.32
Large22.08
Medium25.53
Small6.66
Micro0.41
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings11.470.84
Price/Book1.080.84
Price/Sales0.730.72
Price/Cash Flow6.410.84
Dividend-Yield Factor2.601.06
 
Long-Term Projected Earnings Growth8.810.91
Historical Earnings Growth13.601.01
Sales Growth6.500.78
Cash-Flow Growth8.080.52
Book-Value Growth10.051.06
 
Category: Japan Large-Cap Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock100.110.00100.11
Bond0.000.000.00
Property0.000.000.00
Cash0.000.11-0.11
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States0.00-
Canada0.00-
Latin America0.00-
United Kingdom0.000.00
Eurozone0.00-
Europe - ex Euro0.00-
Europe - Emerging0.00-
Africa0.00-
Middle East0.000.00
Japan100.001.00
Australasia0.00-
Asia - Developed0.000.00
Asia - Emerging0.00-
 
Category: Japan Large-Cap Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials8.231.91
Consumer CyclicalConsumer Cyclical12.010.80
Financial ServicesFinancial Services17.111.09
Real EstateReal Estate3.571.11
Consumer DefensiveConsumer Defensive5.921.18
HealthcareHealthcare6.730.90
Communication ServicesCommunication Services6.170.68
EnergyEnergy3.916.62
IndustrialsIndustrials22.541.04
TechnologyTechnology13.800.80
 
Category: Japan Large-Cap Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings76
Total Number of Bond Holdings0
Assets in Top 10 Holdings36.65
NameSectorCountry% of Assets
Sony Group Corp311Japan6.57
Mitsubishi UFJ Financial Group Inc103Japan5.72
ITOCHU Corp310Japan3.95
Seven & i Holdings Co Ltd205Japan3.55
Tokio Marine Holdings Inc103Japan3.29
Nintendo Co Ltd308Japan3.16
Inpex Corp309Japan2.72
Shin-Etsu Chemical Co Ltd101Japan2.60
Renesas Electronics Corp311Japan2.56
Takeda Pharmaceutical Co Ltd206Japan2.53
 
Increase Decrease New since last portfolio
Category: Japan Large-Cap Equity
 
Management
Name of CompanyT. Rowe Price UK Limited
Phone-
Website -
Address60 Queen Victoria Street, London, United Kingdom,EC4N 4TZ
 London   EC4N 4TZ
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date13/03/2017
Fund Advisor(s)
T. Rowe Price International Ltd
Fund ManagerHiroshi Watanabe
Manager Start Date01/07/2024
Education
University of California, M.B.A.
 
Biography
Hiroshi Watanabe is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd and a portfolio manager for the Japan portion of the International Small-Cap Strategy at T. Rowe Price. Prior to joining T. Rowe Price in 2006, Hiroshi was a deputy director of the Space Industry Office with the Ministry of Economy, Trade and Industry of the Japanese government. Hiroshi earned a B.Sc. and an M.Sc. in aerospace engineering from Tokyo University and an M.B.A. from the University of California, Los Angeles. He has earned his Chartered Financial Analyst designation.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.55%
Ongoing Charge0.69%
Purchase Details
Minimum Investments
Initial10000  GBP
Additional500  GBP
Savings-
Tax Free Savings Schemes
ISAsYes