Oct. 31, 2024 |
| T. Rowe Price International Value Equity Fund
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| International Value Equity Fund
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Investment Objective(s)
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The fund seeks long-term
capital growth and current income primarily through investments in non-U.S. stocks.
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| Fees and
Expenses
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This
table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the fund.
You may also incur brokerage commissions and other charges when buying or selling shares of the fund,
which are not reflected in the table or example below.
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| Shareholder
fees (fees paid directly from your investment)
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Shareholder Fees - T. Rowe Price International Value Equity Fund - USD ($)
|
Investor Class |
I Class |
Advisor Class |
R Class |
Z Class |
| Maximum account fee |
$ 20
|
[1] |
none
|
none
|
none
|
none
|
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| Annual
fund operating expenses (expenses that you pay each
year as a percentage of the value of your investment)
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|
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| Example
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| This example is intended to help you compare the cost of investing in the fund with the cost of investing
in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated
and then redeem all of your shares at the end of those periods, that your investment has a 5% return
each year, and that the fund’s operating expenses remain the same. The example also assumes that any
current expense limitation arrangement remains in place for the period noted in the previous table; therefore,
the figures have been adjusted to reflect fee waivers or expense reimbursements only in the periods for
which the expense limitation arrangement is expected
to continue. Although your actual costs may be higher or lower, based on these assumptions your costs
would be:
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Expense Example - T. Rowe Price International Value Equity Fund - USD ($)
|
Investor Class |
I Class |
Advisor Class |
R Class |
Z Class |
| 1 Year |
$ 89
|
$ 69
|
$ 111
|
$ 135
|
none
|
| 3 Years |
278
|
218
|
347
|
421
|
none
|
| 5 Years |
482
|
379
|
601
|
729
|
none
|
| 10 Years |
$ 1,073
|
$ 847
|
$ 1,329
|
$ 1,601
|
none
|
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| Portfolio Turnover
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Portfolio Turnover The fund pays transaction
costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A
higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when
the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund
operating expenses or in the example, affect the fund’s performance. During the most recent fiscal
year, the fund’s portfolio turnover rate was 15.9% of the average value of its portfolio.
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| Principal Investment Strategies
|
The fund normally invests
at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. In
addition, the fund invests at least 65% of its total assets in non-U.S. stocks, with an emphasis on large-cap
stocks that have a strong track record of paying dividends or that are believed to be undervalued. The
fund seeks to diversify broadly, primarily among the world’s developed countries. Investments in stocks
of companies in emerging markets will be modest and focused on more mature developing countries. The
fund relies on MSCI Inc., a third-party provider of benchmark indexes and data services, or another unaffiliated
data provider to determine the country assigned to a security. Any derivatives that provide exposure
to the investment focus suggested by the fund’s name, or to one or more market risk factors associated
with the investment focus suggested by the fund’s name, are counted (as applicable) toward compliance
with the fund’s 80% investment policy. The fund takes a value-oriented
approach to investing by seeking to invest in companies whose stock prices are low in relation to the
value of their assets or future prospects. Country and sector allocations are driven primarily by security
selection and secondarily by an assessment of top-down, fundamental prospects. The fund relies on a global research
team to identify companies that appear to be undervalued by various measures and may be temporarily out
of favor but have good prospects for capital appreciation or dividend growth.
In
selecting investments, the adviser generally favors companies with one or more of the following characteristics: · low
valuation on various earnings, book value, sales, and cash flow metrics, in absolute terms and/or relative
to the company’s peers or its own historical norm; · low valuation relative to a company’s growth potential; · companies
that may benefit from restructuring activity or other turnaround opportunities; · a sound balance sheet and other positive financial characteristics;
and · above-average
dividend yield and/or the potential to grow dividends. The fund typically has significant investments
in developed European countries. At times, the fund may have a significant portion of its assets invested in the
same economic sector, such as the financial sector.
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| Principal Risks
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Risk Table - T. Rowe Price International Value Equity Fund
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Risk [Text Block] |
| Risk Lose Money [Member] |
The fund’s share price fluctuates, which
means you could lose money by investing in the fund.
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| International investing |
International investing:
Non-U.S.
securities tend to be more volatile and have lower overall liquidity than investments in U.S. securities
and may lose value because of adverse local, political, social, or economic developments overseas, or
due to changes in the exchange rates between foreign currencies and the U.S. dollar. In addition, investments
outside the U.S. are subject to settlement practices and regulatory and financial reporting standards
that differ from those of the U.S. The risks of investing outside the U.S. are heightened for any investments
in emerging markets, which are susceptible to greater volatility than investments in developed markets.
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| Market conditions |
Market
conditions: The value of the fund’s investments may decrease, sometimes rapidly or unexpectedly,
due to factors affecting an issuer held by the fund, particular industries, or the overall securities
markets. A variety of factors can increase the volatility of the fund’s holdings and markets generally,
including economic, political, or regulatory developments, recessions, inflation, rapid interest rate
changes, war, military conflict, acts of terrorism, natural disasters, and outbreaks of infectious illnesses
or other widespread public health issues (such as the coronavirus pandemic) and related governmental
and public responses (including sanctions). Certain events may cause instability across global markets,
including reduced liquidity and disruptions in trading markets, while some events may affect certain
geographic regions, countries, sectors, and industries more significantly than others. Government intervention
in markets may impact interest rates, market volatility, and security pricing. These adverse developments
may cause broad declines in market value due to short-term market movements or for significantly longer
periods during more prolonged market downturns.
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| Value investing |
Value investing: The fund’s value
approach to investing could cause it to underperform other stock funds that employ a different investment
style. The intrinsic value of a stock with value characteristics may not be fully recognized by the market
for a long time (or at all) or a stock judged
to be undervalued may actually be appropriately priced at a low level. Value stocks may fail to appreciate
for long periods and may never reach what the adviser believes are their full market values.
|
| Large-cap stocks |
Large-cap stocks: Securities
issued by large-cap companies tend to be less volatile than securities issued by small- and mid-cap companies.
However, large-cap companies may not be able to attain the high growth rates of successful small- and
mid-cap companies, especially during strong economic periods, and may be unable to respond as quickly
to competitive challenges.
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| Investing in Europe |
Investing in Europe: The European financial markets have experienced
increased volatility due to concerns about economic downturns, political unrest, war, military conflict,
economic sanctions, rising government debt levels, inflation, energy crises, and public health pandemics,
and these events may continue to significantly affect all of Europe. The economies and markets of European
countries are often connected and interdependent, and events in one country in Europe can have an adverse
impact on other European countries. European economies could be significantly affected by, among other
things, rising unemployment, the imposition or unexpected elimination of fiscal and monetary controls
by member countries of the European Economic and Monetary Union, uncertainty surrounding the euro, the
success of governmental actions to reduce budget deficits, and Russia’s ongoing military conflict in
Ukraine.
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| Investing in United Kingdom |
Investing in United Kingdom: The risks of investing in the United Kingdom
have been heightened as a result of Brexit, the formal steps taken by the United Kingdom to exit the
European Union, which has resulted in increased volatility and triggered political, economic, and legal
uncertainty. Although the United Kingdom has formally left the European Union, uncertainty remains as
to the long-term consequences of Brexit and issuers in the United Kingdom may experience lower growth
as a result.
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| Sector exposure |
Sector exposure: Issuers in the same economic sector may be similarly affected
by economic or market events, making the fund more vulnerable to unfavorable developments in that economic
sector than funds that invest more broadly.
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| Financial sector |
Financial sector: Because the fund may
invest significantly in banks and other financial services companies, the fund is more susceptible to
adverse developments affecting such companies and may perform poorly during a downturn that impacts the
financial sector. Banks and other financial services companies can be adversely affected by, among other
things, regulatory changes, interest rate movements, the availability of capital and cost to borrow,
and the rate of debt defaults.
|
| Stock investing |
Stock investing: Stocks generally fluctuate in value more
than bonds and may decline significantly over short time periods. There is a chance that stock prices
overall will decline because stock markets tend to move in cycles, with periods of rising and falling
prices. The value of stocks held by the fund may decline due to general weakness or volatility in the
stock markets in which the fund invests or because of factors that affect a particular company or industry.
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| Active management |
Active
management: The fund’s overall investment program and holdings selected by the fund’s
investment adviser may underperform the broad markets, relevant indices, or other funds with similar
objectives and investment strategies.
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| Cybersecurity breaches |
Cybersecurity breaches: The fund could be
harmed by intentional cyberattacks and other cybersecurity breaches, including unauthorized access to
the fund’s assets, confidential information, or other proprietary information. In addition, a cybersecurity
breach could cause one of the fund’s service providers or financial intermediaries to suffer unauthorized
data access, data corruption, or loss of operational functionality.
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|
| Performance
|
The
following performance information provides some indication of the risks of investing in the fund. The
fund’s performance information represents only past performance (before and after taxes) and is not
necessarily an indication of future results. The following bar chart illustrates how much returns can differ
from year to year by showing calendar year returns and the best and worst calendar quarter returns during
those years for the fund’s Investor Class. Returns for other share classes vary since
they have different expenses.
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| Calendar Year Returns
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|
The fund’s return
for the nine months ended 9/30/24 was 15.73%.
|
| | | | | | | | | | | | | Quarter Ended | Total Return | | | Quarter Ended | Total Return | | | | Best
Quarter | 12/31/20 | 20.07% | | Worst Quarter | 3/31/20 | -28.19% | |
|
| Average Annual Total Returns Periods
ended December 31, 2023
|
The following table shows the average annual total returns
for each class of the fund that has been in operation for at least one full calendar year. The fund’s
performance information included in the table is compared with a regulatory required index that represents
an overall securities market (Regulatory Benchmark). In addition, the table may also include one or more
indexes that more closely aligns to the fund’s investment strategy (Strategy Benchmark(s)).
In
addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder
may influence returns. After-tax returns are calculated using the historical highest individual federal
marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns
depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are
not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k)
account or an IRA. After-tax returns are shown only for the Investor Class and will differ for other
share classes.
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| Updated performance information
is available through troweprice.com.
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