T. Rowe Price Funds SICAV - Emerging Markets Discovery Equity Fund - A(LU1244138183)
- Equities
- Emerging markets
- USD Cash
- Accumulating
An actively managed fund that invests mainly in a widely diversified portfolio of shares of emerging market companies. It offer the opportunity for long-term growth of capital through investments in undervalued stocks of companies in emerging markets...
Offers active exposure to Emerging Markets equities through a concentrated, value and contrarian oriented approach. Differentiates itself by targeting overlooked, "forgotten" businesses whose share price has stabilised after a period of setbacks, rather than companies that already screen statistically cheap, to capture a specific re-rating catalyst.
Managed by T. Rowe Price under portfolio manager Ernest Yeung, who created the strategy in 2015 and has run it continuously since, an 11-year track record.
He is supported by Associate Portfolio Manager Haider Ali, on the strategy since 2018, and a broader bench of around 26 regional Emerging Markets analysts.
Aims to generate long-term capital appreciation ahead of the MSCI Emerging Markets Index through bottom-up stock selection, within an expected tracking error range of 4% to 8%. The strategy may underperform during momentum- or growth-led market rallies, since it avoids richly-valued, popular names until their fundamentals and valuation re-align.
Combines bottom-up fundamental research with a benchmark-agnostic approach to build a high-conviction portfolio of around 50 to 80 holdings across Emerging Markets equities. Categorises holdings through a "Forgotten Stock" framework, targeting overlooked businesses that have anchored after a period of setbacks and identifying a specific internal or external catalyst to capture alpha from their eventual re-rating. Applies a disciplined, rules-based sell process alongside explicit geographic and sector diversification ranges to manage single-name and single-country active risk.
Endowus offers retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.
Serves as a value and contrarian complement within a diversified Emerging Markets equity allocation, enhanced by a differentiated, catalyst-driven source of stock-picking alpha. Suitable for investors seeking a genuinely differentiated Emerging Markets holding to sit alongside more growth, quality or income-oriented funds, while accepting a meaningfully active, benchmark-agnostic approach.
Daily data. Returns as of 03 Nov 2026.
| Year | Total | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| 2026 | - | 11.1% | 3.9% | -11.4% | 12.0% | 10.5% | -1.6% | -3.4% | 1.2% | 0.2% | -7.3% | - | - |
| 2025 | 35.9% | 3.6% | -0.2% | 0.4% | -0.4% | 4.5% | 5.5% | 0.9% | 3.2% | 7.0% | 5.3% | -1.9% | 3.8% |
| 2024 | 5.1% | -4.1% | 3.7% | 3.8% | -0.1% | 1.3% | 2.7% | -0.7% | 1.6% | 6.6% | -5.4% | -3.0% | -0.7% |
| 2023 | 10.4% | 6.0% | -4.0% | 2.6% | -2.2% | -1.4% | 5.0% | 5.7% | -5.0% | -3.4% | -4.0% | 6.7% | 5.1% |
| 2022 | -16.4% | 0.1% | -6.1% | -3.1% | -2.9% | 1.1% | -5.9% | -1.3% | 0.6% | -9.6% | -2.4% | 13.7% | -0.1% |
| Load more | 5 of 12 | ||||||||||||
| Taiwan Semiconductor Manufacturing Co Ltd | 9.56% |
| Samsung Electronics Co Ltd | 9.47% |
| SK hynix Inc | 6.82% |
| MediaTek Inc | 3.95% |
| ASE Technology Holding Co Ltd | 3.13% |
| Gerdau SA | 2.48% |
| China Construction Bank Corp Class H | 2.24% |
| ICICI Bank Ltd | 2.19% |
| Grupo Mexico SAB de CV Class B | 2.02% |
| NetEase Inc Ordinary Shares | 1.92% |
| Saudi National Bank | 1.92% |
| Bank Of Ningbo Co Ltd Class A | 1.89% |
| True Corp PCL Units Non-Voting Depository Receipt | 1.85% |
| Firstrand Ltd | 1.85% |
| Reliance Industries Ltd | 1.79% |
Disclaimer: ©2025 Morningstar. All Rights Reserved. The information contained here relating to a particular collective investment scheme: (1) is proprietary to Morningstar Research Pte. Limited and/or its content providers (“Information Provider(s)“) unless otherwise specified; and (2) may not be copied or distributed. Neither the Information Provider nor Endowus guarantee or endorse the accuracy, reliability, completeness or timeliness of the information, or are responsible for any damages or losses arising from any use of this information. Further, for technical reasons, certain information provided by Information Provider may be different from that supplied by the respective fund houses.
This website is for information purposes only and is not and should not be construed as an offer or the solicitation of an offer or a recommendation for the purchase or sale of any investment or subscribe for, or to participate in, any services. Any opinion or estimate above is made on a general basis and none of Endowus, nor any of its affiliates, representatives, or agents have given any consideration to nor have made any investigation of the objective, financial situation, or particular need of any user, reader, any specific person or group of persons. Opinions expressed herein are subject to change without notice. You should carefully consider whether any investment views and investment products/services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances or seek financial advice via Endowus' platform.
Investment involves risk. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Past performance is not an indicator nor a guarantee of future performance. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.
You are responsible for downloads from this website. Endowus does not warrant that any downloads from this website will meet your needs or expectations, or be uninterrupted, secure, or error free or that any files available for downloading through this website are free of computer viruses or other harmful components. You alone are responsible for ensuring adequate protection and backup of data, software, computer, and other equipment is made and appropriate safeguard is in place to detect, prevent and eliminate computer viruses and other harmful effects. Neither Endowus nor the Information Provider will be responsible for any costs or expenses which may be incurred if your use of this website or if any downloads results in any servicing or replacement of property, material, equipment, or data.
This advertisement has not been reviewed by the Monetary Authority of Singapore.