- Business
- T. Rowe Price Global Stock Fund (PAGSX) is an open-end mutual fund that seeks long-term capital growth through investments primarily in common stocks of established, high-quality growth companies worldwide, including the United States; the fund normally invests at least 80% of its net assets in equities, with a focus on large-cap growth stocks across sectors such as technology, financial services, consumer cyclical, communication services, and industrials; it maintains diversification with approximately 57% in U.S. stocks, 41% in non-U.S. stocks, and minor cash holdings, targeting regions including the United States, Eurozone, United Kingdom, Japan, and emerging Asia. Top holdings typically include leading firms like NVIDIA Corp., Microsoft Corp., Amazon.com Inc., Unilever PLC, and Meta Platforms Inc., representing about 19% of the portfolio; the Advisor Class shares, with ticker PAGSX launched on April 28, 2006, feature a net expense ratio of 1.06%, minimum initial investment of $2,500, and are available primarily to U.S. investors through financial intermediaries. Managed by David J. Eiswert as chair of the investment advisory committee since October 2012, the fund is part of T. Rowe Price Associates, Inc. ("T. Rowe Price"), founded in 1937 and headquartered in Baltimore, Maryland, with global operations serving clients across equity, fixed income, multi-asset, and alternative strategies in over 55 countries. In recent developments, T. Rowe Price announced the acquisition of Oak Hill Advisors, a $53 billion alternative credit manager, for $7.5 billion in October 2025 to expand private credit capabilities and develop new products for wealth and retail clients; the firm also formed strategic partnerships with Goldman Sachs in September 2025, involving up to $1 billion investment in T. Rowe Price stock to access private-market products for retail investors, and with Oak Hill Advisors and Aspida in February 2025 to offer diversified investment strategies for insurance companies; additionally, T. Rowe Price created a Global Strategy function in November 2025, appointing Andrew Reich as head effective January 2026 to oversee corporate strategy and development amid ongoing ETF growth and retirement solutions focus. These initiatives reflect T. Rowe Price's strategic shifts toward alternatives, private markets, and insurance amid market outflows and deglobalization trends highlighted in its 2025 midyear outlook.