T. Rowe Price Emerging Markets Stock Fund Z Class is an actively managed mutual fund focused on investing in equities from emerging market economies. The fund’s core objective is to provide long-term capital appreciation by allocating assets primarily to a diversified portfolio of companies located in developing regions such as Asia, Latin America, Eastern Europe, and Africa. Managed by T. Rowe Price, the Z Class shares are tailored mainly for institutional investors or retirement plans, offering a distinct fee structure compared to other share classes. The fund invests across various sectors and company sizes, with notable holdings often including prominent firms in technology, financials, consumer discretionary, and industrials. Its portfolio is typically diversified, aiming to capture growth opportunities unique to emerging economies while helping to manage the region-specific risks these markets can present. By accessing companies not always represented in widely used indices, the fund plays a significant role for investors seeking geographic and sector diversification beyond developed markets.