LU2351347302
T. Rowe Price Funds SICAV - China Evolution Equity Fund SGD-Hedged

  • Equities
  • China
  • SGD Cash, SRS
  • Accumulating
Invest with
SGD Cash, SRS
Payout type
Accumulating
Risk rating
6
About this fund
Description
The Fund aims to increase the value of its shares, over the long term, through growth in the value of its investments. The Fund is actively managed and invests mainly in a diversified portfolio of shares of Chinese companies and may have significant ...
Key information
Annual report
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Product Highlight Sheet
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Prospectus
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Information Memorandum
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Factsheet
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Our perspective
Why we think this fund is best-in-class
product
Product
An unconstrained, high-conviction China equity strategy that invests across the entire market spectrum, regardless of index weight, sector, or market capitalization. Maintains an agnostic stance toward growth and value styles, providing the flexibility to express investment views beyond standard regional benchmarks. Features a distinctive structural tilt toward small-capitalization companies to identify high-growth "outliers" often overlooked by mega-cap focused strategies.
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people
People
Led by a lead portfolio manager with over 18 years of professional investment experience in the region. Supported by a dedicated team of China-focused analysts and integrated into a broader global research network of over 230 equity analysts. Leverages deep fundamental research capabilities to identify idiosyncratic opportunities across the full market spectrum.
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performance
Performance
Targets structural outperformance by maintaining low cyclical exposure and a reduced correlation with broad macroeconomic factors. Aims to provide resilience during periods of significant market stress, as demonstrated by its historical ability to navigate broad market downturns. Focuses on identifying "outlier" companies that can deliver idiosyncratic returns independent of general market beta.
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process
Process
Employs a fundamental, bottom-up investment process with a strategic emphasis on the technology, healthcare, and consumer sectors. Utilizes a balanced portfolio construction framework that combines long-term growth themes with tactical allocations to mispriced or transitioning businesses. Focuses on structural changes in the Chinese economy to identify companies best positioned for long-term value creation. Maintains high active share by deliberately seeking exposure beyond the top 100 largest companies in the Chinese market.
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cost
Cost
Endowus offers retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.
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selectionCriteria
How it fits in a portfolio
Serves as a differentiating satellite allocation for investors seeking exposure to the next generation of Chinese growth companies beyond traditional mega-cap names. Provides a layer of diversification to a China-centric portfolio due to its unique focus on small-cap "outliers" and its unconstrained mandate. Suitable for long-term investors who are comfortable with the heightened sectoral and market-cap concentration risks inherent in an unconstrained regional strategy.
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Performance
Shows the total return of this accumulating fund, which includes dividends reinvested.
All Time
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Total returns
All Time
3.14%
YTD
19.81%
1 month
8.95%
6 month
25.93%
1 year
52.87%
3 year
34.33%
As of Feb 2026
Distributions
This is an accumulating fund, so dividends are re-invested at the fund level.
Risk metrics
Max drawdown
-47.62%As of Feb 2026
Volatility
25.85%As of Feb 2026
Calendar returns
YearTotalJanFebMarAprMayJunJulAugSepOctNovDec
2026-10.0%9.0%----------
202531.5%0.3%2.7%2.0%-2.7%1.6%4.8%3.4%11.2%3.8%-1.0%-1.2%3.5%
20248.3%-10.6%11.2%3.0%5.1%3.2%-3.3%-7.2%-0.3%20.9%-7.8%-4.2%2.1%
2023-17.7%9.4%-4.4%-2.5%-4.1%-10.8%4.7%7.2%-8.3%-4.6%-4.7%2.4%-1.7%
2022-26.3%-9.1%0.5%-13.2%-6.8%3.4%8.8%-7.4%-1.0%-11.2%-13.3%22.9%2.2%
Load more5 of 6
Top Exposures
Yunnan Aluminium Co Ltd Class A4.04%
CMOC Group Ltd Class H2.94%
Yantai Jereh Oilfield Services Group Co Ltd Class A2.88%
CRRC Corp Ltd Class H2.86%
Xiamen Tungsten Co Ltd Class A2.68%
Unimicron Technology Corp2.68%
H World Group Ltd Ordinary Shares2.60%
Kingboard Laminates Holdings Ltd2.60%
TCL Technology Group Corp Class A2.57%
Hongfa Technology Co Ltd Class A2.49%
Kanzhun Ltd ADR2.48%
Hengtong Optic-Electric Co Ltd Class A2.45%
King Yuan Electronics Co Ltd2.33%
Wus Printed Circuit (Kunshan) Co Ltd Class A2.31%
China Jushi Co Ltd Class A2.29%
Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.
Fund fees
1.87%0.94% p.a.
Save 49%
Save up to 65% in fees
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Fund facts
ISIN
LU2351347302
Fund house
T. Rowe Price
Fund size
S$446.7M
As of 23 Mar 2026
Fund inception date
12 Jul 2021
Fund class currency
SGD
Fund share class
An (SGD)
Oldest share class ISIN
LU2187417469
Oldest share inception date
10 Aug 2020
Pricing frequency
Daily
Invest in this fund
Save up to 65% in fees
Invested elsewhere? Transfer your funds to Endowus in four easy steps. Learn more
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