Morningstar

T. Rowe Price Japan Fund I Class RJAIX Fund Analysis

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

Morningstar’s Analysis RJAIX

Will RJAIX 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 RJAIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the RJAIX 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 RJAIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

New lead manager shows promise, but capabilities in large caps remain untested.

Senior Analyst Ronald van Genderen

Ronald van Genderen

Senior Analyst

Summary

T. Rowe Price replaced the lead manager of this strategy in July 2024, appointing Hiroshi Watanabe, who has a strong track record in Japanese mid- and small-cap equities but remains untested in large caps. Recent analyst turnover adds a degree of uncertainty, and we, therefore, maintain the People Pillar rating at Average. Watanabe has largely continued the previous investment philosophy while introducing notable changes to the portfolio’s positioning. Given the leadership transition, process adjustments, and portfolio changes, we maintain the Process Pillar rating at Average.

by Ronald van Genderen
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