T. Rowe Price red flags Japanese Equity fund as underperformance persists

Seven funds rated as ‘Amber’

T. Rowe Price has flagged the underperforming Japanese Equity fund as not delivering value in the firm’s 2023 assessment of value report.

Out of 20 funds assessed in the year to 31 December, 12 received a Green rating, seven funds an Amber rating and one fund received a Red rating due to performance challenges.  Managed by Archibald Ciganer since 2013, the Japanese Equity fund is down 18.9% in the last three years, while the TOPIX index has gained 18.1% over the same period, according to the fund's factsheet. After receiving an Amber rating in 2022, the strategy "failed to demonstrate improved performance last year", T. Rowe Price stated in its analysis. It said that despite delivering a positive annualised return in...