About TRAMX
The T. Rowe Price Africa & Middle East Fund is an actively managed mutual fund that seeks long-term capital growth by investing primarily in common stocks of companies based in, or with substantial operations in, Africa and the Middle East. The fund leverages a bottom-up research process to identify companies with compelling valuations and robust earnings growth relative to local, regional, or global peers. This approach often results in a focused portfolio representing high-conviction ideas, with country and sector allocations determined largely by individual stock selection rather than broad benchmarks.
The fund typically invests at least 80% of its net assets in equities from the target regions, with a predominant exposure to sectors such as financial services, communication services, materials, and energy. Portfolio holdings as of early 2025 included notable companies like Al Rajhi Bank, Saudi National Bank, Naspers, Qatar National Bank, and Saudi Arabian Oil Co. Established in 2007, the fund has distinguished itself as a vehicle for investors seeking geographic diversification and access to emerging market opportunities, reflecting the dynamic economic potential and investment themes across the African and Middle Eastern markets.
Fund Family T. Rowe Price
Category Miscellaneous Region
Performance Rating Below Average
Risk Rating Low
Stock Exchange NASDAQ
Ticker Symbol TRAMX
Index Index is not available on Lipper Database
TRAMX had a total return of 13.45% in the past year, including dividends. Since the fund's
inception, the average annual return has been 4.33%.
