Gauging the Poor Showing by the T. Rowe Price European Stock Fund
So far, 2016 has been an utterly forgettable year for the T. Rowe Price European Stock Fund (PRESX).
What’s Been Helping PRITX Year-to-Date?
The T. Rowe Price International Stock Fund (PRITX) has been an above average performer for all but the trailing-one-year period.
JPMorgan European Fund’s Performance Shaping Up to Be Forgettable
The JPMorgan Intrepid European Fund Class A has fallen 7.6% year-to-date, making it the worst performer in the group of 12 funds chosen for this review.
Contrasting Services PMI from the Eurozone and the UK
The composite PMI came out at 53.1—above the flash estimates of 52.8. The rise was primarily due to the rise in manufacturing production.
Why PRESX Was Hit by Information Technology Stocks in 1Q16
The T. Rowe Price European Stock Fund (PRESX) fell 4.5% in 1Q16, making it a below-average performer among the 12 funds in this review. In the past one year, the fund has fallen 7.5%.
Sector Composition Changes in PRESX until 1Q16
The T. Rowe Price European Stock Fund’s (PRESX) assets were spread across 62 holdings as of March 2016, three less than a quarter ago. It was managing assets worth $1.5 billion.
Analyzing JPMorgan Intrepid European Fund’s Allocation in 2015
The JPMorgan Intrepid European Fund’s assets were spread across 79 holdings as of December 2015.
Leveraged Loan Funds Saw Outflows in the First Week of 2016
According to data from Lipper, leveraged loan funds saw an outflow in the seven days ended January 6. The quantum of outflows was $560.0 million last week.
December Saw the Highest Outflows of Leveraged Loan Funds in 2015
The total net outflows from leveraged loan funds in 2015 stood at $16.4 billion. This was marginally higher than the $16.2 billion recorded in 2014.
High Turnover Hurts the JPMorgan Intrepid European Fund
The JPMorgan Intrepid European Fund has been in existence since November 1995. That is, it existed before the euro became the official currency.
Leveraged Loan Funds Continued to Witness Outflows
Leveraged loan funds saw an outflow for the week ending October 28—the 14th week with an outflow. The quantum of outflows was $169.1 million last week.
Intercontinental Hotels Group Rose by 6.9%
On October 20, Intercontinental Hotels Group traded at 2,471 pounds. It was well above its respective 20-day and 50-day moving averages.
EWU Was Down by 0.23% with a Mixed Bag of Stock Performances
The iShares MSCI United Kingdom (EWU) slipped by 0.23% on Friday, October 16.
UK Stock Market Upbeat as EWU Closes with a Gain of 2.31%
The UK stock market cheered owing to positive rallies across the Asian and US stock markets. The iShares MSCI United Kingdom ETF (EWU) rose by 2.31%.