Morningstar

T. Rowe Price New Asia Fund I Class PNSIX Fund Analysis

Morningstar Medalist Rating
| Medalist Rating as of | See T. Rowe Price Investment Hub

Morningstar’s Analysis PNSIX

Will PNSIX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PNSIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the PNSIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of PNSIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Inexperienced successor and team instability temper our conviction.

Principal Claire Liang

Claire Liang

Principal

Summary

The strategy is undergoing a leadership transition. Long-tenured portfolio manager Anh Lu will retire on June 30, 2026. She will be succeeded by an in-house investor, Jai Kapadia, who will join as comanager on April 1, 2026, before assuming sole portfolio manager responsibility in July. Kapadia lacks experience running a diversified Asian equity strategy, and our confidence in his ability to steer the strategy effectively in a highly competitive category is limited. Ongoing team instability and a weakened investment bench further add to our concerns. The strategy earns a Below Average People rating and an Average Process rating.

by Claire Liang
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