About TRCLX
T. Rowe Price China Evolution Equity Fund I Class is a mutual fund that aims for long-term capital growth by investing primarily in equity securities of Chinese companies. The fund adopts a flexible, actively managed approach, allocating at least 80% of its net assets across A-shares, H-shares, and U.S.-listed Chinese equities. It favors companies positioned to benefit from dynamic change and growth in China, with an emphasis on those that may be overlooked by broader indices—often focusing on the bottom half of the market capitalization spectrum. This strategy allows the fund to identify and invest in emerging leaders across a diverse set of industries including communication services, industrials, consumer cyclicals, and real estate. As a nondiversified fund concentrated in a single country, it carries elevated risk linked to economic, political, and regulatory conditions specific to China, as well as the volatility and liquidity constraints of emerging markets. The fund’s rigorous, bottom-up research process is supported by an experienced regional analyst team and is designed for investors seeking diversification and exposure to China’s evolving equity landscape, accepting the higher risk profile inherent in such markets.
Fund Family T. Rowe Price
Category China Region
Performance Rating Above Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol TRCLX
Share Class -i Class
Index MSCI China All Shares NR USD
TRCLX had a total return of 38.28% in the past year, including dividends. Since the fund's
inception, the average annual return has been 12.40%.
