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T. Rowe Price adds new strategy to its SICAV range

T. Rowe Price has announced the addition of a regional equity strategy to its Luxembourg-domiciled SICAV range, focusing on investment in the Middle East and Africa.

Christopher Alderson, who has led the T. Rowe Price emerging markets equity team for the past 10 years, will manage the strategy.

The objective of the sub-fund is to provide long-term capital growth by investing primarily in a diversified portfolio of transferable equity and equity-related securities of companies established, or conducting the predominant part of their economic activity, in the emerging markets of Africa and the Middle East.

The strategy, available to institutional investors and third party distributors, will be a concentrated portfolio typically investing in 25-50 stocks.

T. Rowe Price vice president and portfolio manager Christopher Alderson says: “These markets offer significant long-term growth potential and diversification benefits for investors who are willing to accept more risk by placing a portion of their assets in an aggressive portfolio. There are also many attractive companies with sustainable growth and reasonable valuations.

“Financials represent our largest sector exposure, as commercial banks are benefiting from rapidly growing economies. Many of these companies are experiencing significant revenue growth as demand for both retail and business credit increases. Significant reform of banking and pension markets in many states should further encourage loan growth in both the Middle East and Africa.”

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