News

T Rowe Price launches Japan tech-themed equity fund

US-based asset manager T Rowe Price has announced the launch of a Japanese investment trust targetting technology stocks. The Global Technology Equity Strategy in Japan is T Rowe Price’s third Japanese investment trust aimed at retail investor, having launched two earlier funds in May and December 2019. The Global Technology Equity Strategy is one of the firm’s flagship investment strategies. Launched in 2000, it has amassed assets of nearly US$13 billion and is currently managed by San Francisco-based Alan Tu, a portfolio manager with a focus on the technology sector. “Even as the world struggles with the coronavirus pandemic, the rapid pace of innovation continues, and the powerful secular growth trends that we expect to create value in the technology sector remain intact,” said Tu. “It appears that we are still relatively early in a golden age for technology innovation, as the extraordinary power of the internet has enabled unprecedented value creation for both companies and investors.” The fund, which will be distributed via Nomura Securities, will have its initial public offering will be from September 7 to September 25 and the open-ended fund will launch on September 28. © 2020 funds global asia

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