Morningstar will cease qualitative research coverage of T. Rowe Price Frontier Markets Equity on or about Oct. 24, 2022, in order to reallocate our analysts to research other strategies. At that time, the last Morningstar Analyst Rating and this research will be removed. After that date, please discontinue using the research report or former research reports issued by Morningstar on this strategy. We recommend users form their own views on this fund or obtain financial advice. |
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A sound investment process and strong management team underpin T. Rowe Price Frontier Mkts Eq Q GBP's Morningstar Medalist Rating of Silver. The portfolio maintains a cost advantage over competitors, priced within the cheapest fee quintile among peers.
The strategy's sensible investment philosophy merits an Above Average Process Pillar rating. Independent of the rating, analysis of the strategy's portfolio shows it is currently, although not consistently, underweight in liquidity exposure and volatility exposure compared with category peers. Low liquidity risk exposure is attributed to stocks with a low trading volume, limiting managers' flexibility. And low volatility exposure is rooted in stocks that have a lower standard deviation of returns. Confidence in the strategy's portfolio management drives an Above Average People Pillar rating. The strategy's parent organization earns the firm a High Parent Pillar rating, and this rating is inherited from vehicles belonging to the same branding entity and is indirectly assigned by an analyst. |
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