T. Rowe Price Latin America remains a solid strategy, though the retirement of longtime manager Verena Wachnitz has reduced our conviction in the team supporting it. The strategy, which includes a separately managed account as well as a mutual fund, still stands out in a relatively limited opportunity set, but the change in leadership makes the team less proven than before.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable RLAIX’s performance objective and investment process is for both security selection and portfolio construction.
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