About PRAMX
The T. Rowe Price Africa & Middle East Fund I Class is a mutual fund focused on achieving long-term capital growth through investments primarily in the common stocks of companies located in, or with significant operations in, Africa and the Middle East. The fund employs a bottom-up stock selection process, supported by a top-down regional perspective, with an emphasis on identifying companies demonstrating attractive valuations and earnings growth outpacing local, regional, or global peers. The portfolio is typically concentrated, leading to high-conviction positions, and is often heavily invested in financial services, with notable holdings in banks and diversified financial companies from countries such as Saudi Arabia, South Africa, and Qatar. Key markets of primary focus include Saudi Arabia, South Africa, the United Arab Emirates, and Egypt, among others. The fund's diversified approach allows it to benefit from the unique growth dynamics and evolving capital markets of the region, while also exposing it to currency and geopolitical risks inherent to these emerging and frontier markets. Since its inception in 2017, the fund has served as a specialized vehicle for investors seeking exposure to the economic development of Africa and the Middle East.
Fund Family T. Rowe Price
Category Miscellaneous Region
Stock Exchange Nasdaq
Ticker Symbol PRAMX
Share Class -i Class
Index Index is not available on Lipper Database
PRAMX had a total return of -0.93% in the past year, including dividends. Since the fund's
inception, the average annual return has been 7.33%.
