T. Rowe Price [profile] just launched a new global fund.

Today the Baltimore-based, publicly-traded asset manager unveiled its Global Industrials Fund, PMed by Peter Bates. The fund comes with net expenses of 105 basis points and a minimum initial investment of $2,500 (or $1,000 for retirement plans and uniform gifts or transfers to minors' accounts).

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Company Press Release

T. Rowe Price Launches Global Industrials Fund

BALTIMORE, Nov. 12, 2013 -- T. Rowe Price (NASDAQ-GS: TROW) has launched the Global Industrials Fund(RPGIX). The new fund seeks long-term capital growth by investing in foreign and U.S. companies within the industrials sector.

Fund Details

--  The Global Industrials Fund will normally invest:
--  At least 80% of its net assets in securities issued by companies in the industrials sector.
--  At least 40% of its assets in companies outside the U.S. across a minimum of five different countries.
--  In companies of any market capitalization, depending on where the portfolio manager sees the best opportunities.
--  Peter Bates will manage the fund. He has served as an equity research analyst since joining the firm in August 2004, covering environmental services, industrial manufacturing and capital goods, and large industrial conglomerates.
--  Industries within the industrials sector in which the fund will invest include:

aerospace and defense,

building products and equipment,

automobiles,

machinery,

construction and engineering,

electrical components and equipment,

industrial technology,

transportation, and

manufacturing and industrial conglomerates.
--  Stock selection leverages the breadth and depth of T. Rowe Price's global research platform and is based on intensive fundamental analysis that assesses industry trends and companies' long-term prospects.
--  The net expense ratio is estimated to be 1.05%.
--  The minimum initial investment in the Global Industrials Fund is $2,500 or $1,000 for retirement plans or uniform gifts/uniform transfers to minors (UGMA/UTMA) accounts.

The fund is less diversified than a non-focused fund, and its substantial reward potential is coupled with significant risk. In addition, any foreign holdings could be affected by declining local currencies or adverse political or economic events.

Download a prospectus or obtain one by calling 1-800-541-8803. The prospectus includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.

T. Rowe Price Investment Services, Inc., distributor, T. Rowe Price mutual funds.

Quotes
Peter Bates, CFA, Portfolio Manager

"The fund will invest in a mixture of stocks, including established companies that are capable of compounding earnings, stocks with compelling valuations, and newer companies that offer technology or services that allow customers to improve productivity. We aim to generate stable returns while still offering investors the opportunity to benefit from major trends in industrial technology."

About T. Rowe Price
Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization with $647.2 billion in assets under management as of September 30, 2013. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

SOURCE  T. Rowe Price

T. Rowe Price

CONTACT: Heather McDonold, 410-345-6617, Kylie Muratore, 410-345-2533, Bill Benintende, 410-345-3482 and Brian Lewbart, 410-345-2242, all with T. Rowe Price Group

Web Site: http://www.troweprice.com

 

Edited by: Neil Anderson, Managing Editor


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