T. Rowe Price has launched a European mid and small-cap Sicav fund.
The Luxembourg-domiciled European Smaller Companies Equity fund invests in a portfolio of stocks with a market capitalisation within or below the range covered by the S&P Extended Market (EMI) Pan Europe index.
Justin Thomson, the manager, can hold companies at any stage in their business cycle.
The fund will sit alongside T. Rowe Price’s existing large-cap and emerging European equity investment strategies.
Thomson is a small and mid-cap specialist who also runs the group’s Non-US Small Cap Equity strategy. He will be supported in managing the new fund by a team of three European-focused analysts based in London.
He says the fund is being launched at a time of heightened pessimism for the economy and near-record risk aversion, which will create investment opportunities.