Press release
T. Rowe Price Launches First Impact Fund
New Global Impact Equity Fund is the firm's first strategy allowing investors to pursue both financial gain and their environmental and social equity goals.
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"New Global Impact Equity Fund is the firm's first strategy allowing investors to pursue both financial gain and their environmental and social equity goals. The fund, offered initially to U.S. investors, will rely upon T. Rowe's deep fundamental research platform as well as its Responsible Investing team to identify compelling investment opportunities around the world.\n\n\nBALTIMORE, March 17, 2021 /PRNewswire/ --\nNews\nT. Rowe Price (NASDAQ-GS: TROW) today launched its first product giving investors the opportunity to simultaneously pursue their financial goals and to have a positive impact on the global environment and social equity issues. The T. Rowe Price Global Impact Equity Fund recognizes the significant, secular changes afoot in financial markets as many investors seek to marry these goals and as corporations, investors and other stakeholders increasingly appreciate the link between societal good and financial performance. \nThe fund will employ an active management approach to seek companies that are on the right side of these changes. It will initially be offered to U.S. investors, but the firm intends eventually to introduce the strategy to clients around the world.\nThe fund will seek out companies that can potentially provide excess returns over its benchmark, the MSCI All-Country World index. It will focus on three pillars: climate and resource impact, social equity and quality of life, and sustainable innovation and productivity. It will exclude certain industries and companies that the manager believes do not conform to the fund's impact mandate, such as fossil fuels, tobacco, gaming, and for-profit prison companies.\nT. Rowe Price Global impact Equity FUND DETAILS\nThe fund will be aligned with the United Nations Sustainable Development Goals (UNSDGs), a globally recognized framework designed to end poverty, ensure prosperity, and protect the planet. The fund will be managed by Hari Balkrishna. Mr. Balkrishna has 15 years of investment industry experience, including the last decade at T. Rowe Price. From 2015 until the end of last year, he was Associate Portfolio Manager of the firm's Global Growth Equity Strategy. Having lived and worked on five continents, Mr. Balkrishna has a keen understanding of the many different social systems around the world and he is personally passionate about addressing climate ch...