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T Rowe Price launches Global Industrials Fund

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T Rowe Price has launched the Global Industrials Fund (RPGIX).

The new fund seeks long-term capital growth by investing in foreign and US companies within the industrials sector.
 
The fund will normally invest at least 80 per cent of its net assets in securities issued by companies in the industrials sector, and at least 40 per cent of its assets in companies outside the US across a minimum of five different countries.
 
The fund will be managed by Peter Bates, who 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 defence
  • Building products and equipment
  • Automobiles
  • Machinery
  • Construction and engineering
  • Electrical components and equipment
  • Industrial technology
  • Transportation and
  • Manufacturing and industrial conglomerates.

 
The net expense ratio for the new fund is estimated to be 1.05 per cent, while the minimum initial investment is USD2,500 or USD1,000 for retirement plans or uniform gifts/uniform transfers to minors accounts.
 
"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,” says Bates. “We aim to generate stable returns while still offering investors the opportunity to benefit from major trends in industrial technology."

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