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Data through October 31, 2016 FINRA members: For internal or institutional use only.
T. Rowe Price International Discovery Ticker
PRIDX
Yield
0.6%
Total Assets
$4,934 mil
Mstar Category
ForeignSmall/MidGrowth
Benchmark 1: MSCI World Ex USA SMID NR USD
Benchmark 2: MSCI ACWI Ex USA NR USD
Morningstar Analyst Rating 10-28-16
„
Morningstar Pillars
Process ∞ Positive
Performance ∞ Positive
People ∞ Positive
Parent ∞ Positive
Price ∞ Positive
Morningstar Analyst Rating
Morningstar evaluates mutual funds based on five key pillars, which its
analysts believe lead to funds that are more likely to outperform over the
long term on a risk-adjusted basis.
Analyst Rating Spectrum
Œ „ ´ ‰ Á
Pillar Spectrum
∞ Positive § Negative ¶ Neutral
10.0
15.0
20.0
Historical Profile
Return
Risk
Rating
Above Avg
Below Avg
QQQQ
Above Avg
8 8 8 8 8 8 8 8 Investment Style
Equity
Growth of $10,000
Investment Values of
Fund
Investment Values of
Benchmark 1
* * ( & ) * & ( & * & Performance Quartile
(within Category)
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 10-16 History
47.48 48.82 24.08 36.95 43.90 37.31 46.10 55.74 51.58 53.95 55.73 NAV
27.65 16.57 -49.93 55.69 20.47 -14.08 26.00 24.37 -0.43 9.88 3.40 Total Return %
0.16 11.30 -3.84 12.70 0.79 0.54 8.95 1.21 3.14 6.73 0.25 +/- Bmark 1
1.00 -0.08 -4.40 14.24 9.31 -0.38 9.17 9.09 3.44 15.54 -0.90 +/- Bmark 2
0.75 0.72 0.76 1.00 0.46 0.87 1.37 1.34 0.81 0.72 0.00 Income Return %
26.90 15.85 -50.68 54.69 20.01 -14.95 24.63 23.03 -1.23 9.16 3.40 Capital Return %
46 34 58 17 77 31 11 60 15 29 14 Total Rtn % Rank Cat
0.31 0.34 0.37 0.24 0.17 0.38 0.51 0.62 0.45 0.37 0.00 Income $
4.91 5.95 0.00 0.30 0.43 0.02 0.39 0.92 3.38 2.33 0.05 Capital Gains $
1.24 1.21 1.24 1.29 1.24 1.23 1.23 1.23 1.21 1.20 1.21 Expense Ratio %
0.79 0.76 0.92 0.94 0.48 0.78 1.38 1.32 0.76 0.75 0.29 Income Ratio %
82 68 67 65 55 49 40 51 42 40 . Turnover Rate %
2,310 3,013 1,316 2,208 2,734 2,219 2,910 3,519 3,563 4,315 . Net Assets $mil
Performance 10-31-16
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Total
2012 17.23 -5.42 7.86 5.35 26.00
2013 6.03 -0.47 10.42 6.73 24.37
2014 2.57 3.18 -5.22 -0.73 -0.43
2015 4.15 6.16 -7.29 7.20 9.88
2016 -1.72 -1.24 9.14 — —
Trailing Total
Return%
+/- Bmark
1
+/- Bmark
2
%Rank
Cat
Growth of
$10,000
3 Mo 0.98 2.48 0.57 6 10,098
6 Mo 4.60 5.10 2.59 8 10,460
1 Yr 5.40 3.57 5.18 13 10,540
3 Yr Avg 5.49 3.97 6.98 9 11,738
5 Yr Avg 10.94 4.25 7.30 10 16,801
10 Yr Avg 6.05 3.25 4.44 13 17,995
15 Yr Avg 10.77 2.26 4.50 16 46,380
Tax Analysis Tax Adj Rtn% %Rank Cat Tax-Cost Rat %Rank Cat
3 Yr (estimated) 3.96 11 1.45 69
5 Yr (estimated) 9.74 11 1.08 70
10 Yr (estimated) 4.81 13 1.17 69
Potential Capital Gain Exposure: 23% of assets
Rating and Risk
Time
Period
Load-Adj
Return %
Morningstar
Rtn vs Cat
Morningstar
Risk vs Cat
Morningstar
Risk-Adj Rating
1 Yr 5.40
3 Yr 5.49 +Avg -Avg QQQQ
5 Yr 10.94 +Avg -Avg QQQQ
10 Yr 6.05 +Avg -Avg QQQQ
Incept 10.03
Other Measures Standard Index Best Fit Index
Alpha 6.4 5.3
Beta 0.74 0.79
R-Squared 79 81
Standard Deviation 10.50
Mean 5.49
Sharpe Ratio 0.55
Portfolio Analysis 09-30-16
Total Stocks: 213
Share change since 06-30-16 Sector Country % Assets
TT. Rowe Price Reserve Inv — United States 6.70
MercadoLibre Inc Cnsmr Cyc Brazil 1.27
Partners Group Holding AG Finan Svcs Switzerland 1.16
Fisher & Paykel Healthcar Hlth Care New Zealand 0.95
YOOX Net-A-Porter Group S Cnsmr Cyc Italy 0.94
Tecan Group Ltd Hlth Care Switzerland 0.89
Ambu A/S B Hlth Care Denmark 0.87
Abcam PLC Hlth Care United Kingdom 0.85
Playtech PLC Cnsmr Cyc United Kingdom 0.85
Axiare Patrimonio SOCIMI Real Est Spain 0.83
TFujitech Co Ltd Industrl Japan 0.83
TNippon Seiki Co Ltd Cnsmr Cyc Japan 0.83
NORMA Group SE Industrl Germany 0.82
Victrex PLC Basic Mat United Kingdom 0.81
DCC PLC Energy United Kingdom 0.78
YSanwa Holdings Corp Basic Mat Japan 0.77
TAL Education Group ADR Cnsmr Def China 0.76
Gecina Real Est France 0.75
Obara Group Inc Industrl Japan 0.73
XXL ASA Cnsmr Cyc Norway 0.72
Current Investment Style
Large Mid Small
Value Blend Growth Market Cap %
Giant 0.0
Large 20.3
Mid 51.7
Small 25.9
Micro 2.1
Avg $mil:
2,050
Value Measures Rel Category
Price/Earnings 17.71 0.91
Price/Book 1.79 0.69
Price/Sales 0.99 0.62
Price/Cash Flow 4.97 0.56
Dividend Yield % 1.93 0.93
Growth Measures % Rel Category
Long-Term Erngs 13.46 0.96
Book Value 3.79 0.47
Sales -5.03 -2.20
Cash Flow -30.96 -3.46
Historical Erngs -0.89 -0.13
Composition - Net
Cash 9.2 Bonds 0.0
Stocks 90.3 Other 0.5
Foreign (% of Stock) 98.8
Sector
Weightings
% of
Stocks
Rel
Bmark 1
h Cyclical 51.24 1.04
r BasicMat 10.94 0.80
t CnsmrCyc 25.27 1.64
y FinanSvcs 9.83 0.88
u Real Est 5.20 0.57
j Sensitive 31.00 0.89
i CommSrvs 1.96 0.98
o Energy 1.20 0.30
p Industrl 13.77 0.72
a Technlgy 14.07 1.47
k Defensive 17.75 1.11
s CnsmrDef 5.41 0.79
d Hlthcare 12.34 2.18
f Utilities 0.00 0.00
Regional Exposure % Stock
UK/W. Europe 42 N. America 2
Japan 25 Latn America 4
Asia X Japan 26 Other 1
Country Exposure % Stock
Japan 25
UK 14
China 9
Switzerland 5
Germany 5
Morningstar's Take by William Samuel Rocco 10-28-16
T.RowePrice InternationalDiscoverycomplementsmany
core foreign holdings quite nicely, and it earns a
Morningstar Analyst Rating of Silver.
This foreign small/mid-growth fund has relatively
limited overlap with most foreign large-cap offerings.
Justin Thomson and his comanagers focus well down the
market-cap ladder as they pursue profitable growers with
strong fundamentals, and this fund’s average market cap
is generally lower than those of the typical foreign small/
mid-growth, -blend, and -value funds. And the managers
readily invest in superior growers that are based in
emerging or small developed markets, so this fund has
geographic diversification value as well.
Meanwhile, despite its commitment to small caps
and taste for emerging-markets stocks, this fund is not
very aggressive overall. Thomson and his comanagers
pay ample attention to valuations and move at a
measured pace, They also invest in many more names
and devote far fewer assets to their top 10 holdings than
most foreign small/mid-cap managers. Therefore, this
fund takes on less much price risk and less company-
specific risk than many of its rivals.
Thomsonandhiscomanagershave regularlyputtheir
growth discipline to good use. This fund has comfortably
outpaced the typical foreign small/mid-growth, -blend,
and -value funds during the 12 months through Sept. 30,
2016, as many of the managers’ Asian and European
picks have prospered. It also has outperformed frequently
in the past, and it has superior long-term total and risk-
adjusted returns.
What’s more, Thomson has been at the helm longer
than 91 of the 97 other foreign small/mid-cap skippers.
He and his comanagers have a good support team. And
this fundhasasignificantcostedgeovermostof its rivals.
For all these reasons, this fund is an excellent option
for investors who are seeking a supplemental foreign
vehicle for the long haul and can handle the occasional
rough stretch. Such investors should note that this fund
is expected to make a distribution in mid-December.
Address: T. Rowe Price International Funds, Inc. Minimum Purchase: $2500 Add: $100 IRA: $1000
Baltimore, MD 21202 Min Auto Inv Plan: $2500 Add: $100
800-638-5660 Sales Fees: No-load, 2.00%R
Web Address: Management Fee: 0.75%
Inception: 12-30-88 Actual Fees: Mgt:1.04% Dist:0.00%
Advisor: T. Rowe Price Associates, Inc. Expense Projections: 3Yr:$381 5Yr:$660 10Yr:$1455
Subadvisor: T. Rowe Price International Limited Income Distribution: Annually
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