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PRLAX T. Rowe Price Latin America

  • Fund
  • PRLAX
  • Price as of: Sep 22, 2017
  • $26.13
  • + $0.12
  • + 0.46%
  • Category
  • Latin America Equities

PRLAX - Profile

Vitals

  • YTD Return 35.0%
  • 3 Yr Annualized Return -2.9%
  • 5 Yr Annualized Return -0.4%
  • Net Assets $682 M
  • Holdings in Top 10 50.5%

52 WEEK LOW AND HIGH

$26.13
$18.33
$26.35

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.38%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 26.90%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$1,000

Investment Themes

CATEGORY

Latin America Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Latin America Stock

Distributions

  • YTD Total Return 35.0%
  • 3 Yr Annualized Total Return -2.9%
  • 5 Yr Annualized Total Return -0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.26%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name T. Rowe Price Latin America Fund
  • Fund Family Name T. Rowe Price
  • Inception Date Dec 29, 1993
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Verena E. Wachnitz

Fund Description

The T. Rowe Price Latin America Fund (PRLAX) is a low-cost, actively managed fund that focuses on emerging markets, specifically Latin and South America. This includes stocks domiciled in Argentina, Mexico, Brazil, Chile, Venezuela and Peru. The fund’s managers use a variety of analysis metrics to determine undervalued stocks that have above-average earnings growth within the emerging-market region. There are no market capitalization restrictions nor any sector requirements for the fund. Although, traditionally the fund has been heavy in natural resources.

Given its narrow focus on Latin and South America, PRLAX is best suited as a satellite position or core position only when paired with an emerging Asia fund. The fund is managed by T. Rowe Price.

PRLAX - Performance

Return Ranking - Trailing

Period PRLAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 35.0% -5.0% 41.4% 34.38% 2
1 Yr 21.7% -29.5% 23.5% 17.24% 1
3 Yr -2.9% * -16.9% -2.9% 3.85% 1
5 Yr -0.4% * -14.8% 0.1% 17.65% 1
10 Yr 0.0% * -3.2% 0.1% 11.76% 1

* Annualized


Return Ranking - Calendar

Period PRLAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 28.8% -32.6% 29.9% 12.50% 1
2015 -31.5% -32.7% 0.0% 68.97% 4
2014 -26.9% -26.9% 0.0% 91.30% 5
2013 -21.1% -32.5% 0.0% 63.16% 4
2012 -2.0% -12.9% 14.1% 50.00% 3

Total Return Ranking - Trailing

Period PRLAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 35.0% -5.0% 42.7% 37.50% 2
1 Yr 21.7% -32.3% 25.2% 17.24% 1
3 Yr -2.9% * -17.5% -2.9% 3.85% 1
5 Yr -0.4% * -15.1% 0.1% 11.76% 1
10 Yr 0.0% * -3.2% 0.1% 11.76% 1

* Annualized


Total Return Ranking - Calendar

Period PRLAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 28.8% -32.6% 29.9% 12.50% 1
2015 -28.2% -32.7% 0.0% 37.93% 3
2014 -16.9% -18.1% 0.0% 69.57% 4
2013 -19.5% -22.5% 0.0% 63.16% 4
2012 14.3% 0.0% 20.9% 33.33% 2

NAV & Total Return History

PRLAX - Holdings

Filings data as of: Jun 30, 2017

Concentration Analysis

PRLAX Category Low Category High PRLAX % Rank Quintile
Net Assets 682 M 3.73 M 682 M 3.13% 1
Number of Holdings 59 1 64 6.25% 1
Net Assets in Top 10 320 M 0 320 M 3.13% 1
Weighting of Top 10 50.5% 0.0% 58.3% 9.38% 1

Top 10 Holdings

  1. Itau Unibanco Holding SA 10.76%
  2. Ambev SA ADR 5.04%
  3. Lojas Renner SA 6.76%
  4. BRF SA 3.08%
  5. Bank Bradesco SA Pref Shs 8.30%
  6. Credicorp Ltd 3.15%
  7. Raia Drogasil SA 3.33%
  8. Wal - Mart de Mexico SAB de CV Class V 4.98%
  9. B3 SA - Brasil Bolsa Balcao 2.50%
  10. SACI Falabella 2.56%

Asset Allocation

Weighting Category Low Category High PRLAX % Rank Quintile
Stocks
97.77% 0.00% 99.95% 21.88% 3
Cash
2.23% -0.76% 100.00% 18.75% 2
Preferred Stocks
0.00% 0.00% 13.22% 12.50% 3
Other
0.00% -0.39% 4.63% 25.00% 3
Convertible Bonds
0.00% 0.00% 0.02% 6.25% 2
Bonds
0.00% 0.00% 23.03% 9.38% 2

Stock Sector Breakdown

Weighting Category Low Category High PRLAX % Rank Quintile
Financial Services
32.41% 11.07% 37.04% 9.38% 1
Consumer Defense
20.89% 1.44% 30.03% 18.75% 3
Consumer Cyclical
17.02% 2.88% 29.93% 12.50% 1
Real Estate
8.41% 0.00% 8.41% 3.13% 1
Basic Materials
6.94% 0.00% 19.86% 21.88% 2
Industrials
4.25% 2.24% 13.14% 37.50% 5
Communication Services
2.40% 0.00% 5.32% 21.88% 2
Utilities
2.25% 0.00% 14.73% 31.25% 3
Energy
1.41% 0.00% 11.75% 34.38% 4
Technology
1.29% 0.00% 4.85% 21.88% 3
Healthcare
0.49% 0.00% 9.66% 28.13% 4

Stock Geographic Breakdown

Weighting Category Low Category High PRLAX % Rank Quintile
Non US
96.34% 0.00% 98.11% 9.38% 2
US
1.43% 0.00% 20.40% 31.25% 4

PRLAX - Expenses

Operational Fees

PRLAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.38% 1.07% 5.94% 84.38% 1
Management Fee 1.04% 0.70% 1.25% 15.63% 3
12b-1 Fee 0.00% 0.00% 1.00% 31.82% 1
Administrative Fee 0.15% 0.08% 0.25% 10.53% 3

Sales Fees

PRLAX Fees (% of AUM) Category Low Category High PRLAX Rank Quintile
Front Load N/A 3.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

PRLAX Fees (% of AUM) Category Low Category High PRLAX Rank Quintile
Max Redemption Fee 2.00% 1.50% 2.00% 4.00% 3

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PRLAX Fees (% of AUM) Category Low Category High PRLAX Rank Quintile
Turnover 26.90% 11.97% 437.65% 31.25% 2

PRLAX - Distributions

Dividend Yield Analysis

PRLAX Category Low Category High PRLAX % Rank Quintile
Dividend Yield 0.6% 0.01% 0.58% 6.25% 1

Dividend Distribution Analysis

PRLAX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

PRLAX Category Low Category High PRLAX % Rank Quintile
Net Income Ratio 1.26% -0.16% 2.47% 31.25% 2

Capital Gain Distribution Analysis

PRLAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

PRLAX - Managers

Verena E. Wachnitz

Manager

Start Date

Mar 31, 2014

Tenure

3.42

Tenure Rank

11.0%

Verena Wachnitz is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd and the portfolio manager. Ms. Wachnitz has been chairman of the committee since 2014. During the past five years, she has served as an equity research analyst covering Latin America and a portfolio manager (beginning in 2014). Prior to joining T. Rowe Price in 2003, she was an investment analyst with Centro de Estudios de Transporte e Infraestructura. Verena earned a B.A. in economics and a master's degree in finance from Universidad de San Andres. She is fluent in Spanish, German, Portuguese and English. She also has earned the Chartered Financial Analyst designation.


Tenure Analysis

Category Low

0.6

Category High

14.9

Category Average

4.24

Category Mode

2.7