- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 East Pratt Street Baltimore MD United States of America 21202
- IPO Date
- Dec 17, 2015
- Business
- T. Rowe Price International Discovery Fund (TIDDX) is an open-end mutual fund that seeks long-term growth of capital through investments primarily in common stocks of rapidly growing, small- to medium-sized companies outside the United States; it normally invests at least 80% of its net assets in non-U.S. stocks across developed and emerging markets worldwide, with a focus on the S&P Global ex-U.S. Small Cap Index, MSCI EAFE Small Cap Index, and Lipper International Small/Mid-Cap Growth Funds Average benchmarks. The fund offers diversified exposure to sectors including industrials (25.56%), consumer cyclical (14.64%), technology (12.93%), basic materials (11.70%), and financial services (11.60%), with regional allocations emphasizing the Eurozone (19.95%), Japan (19.20%), emerging Asia (18.33%), the United Kingdom (10.09%), and Europe ex-Euro (9.48%); top holdings as of recent data include BAWAG Group AG, Spie SA, MercadoLibre Inc., Montana Aerospace AG, and Flatex AG, representing approximately 8.59% of the portfolio. Managed within T. Rowe Price International Funds, Inc., the fund is domiciled in the United States, available for sale primarily to U.S. investors with a minimum initial investment of $500,000 for the I Class shares, and features a net expense ratio of 1.08% with daily pricing.
Launched on December 17, 2015, as the I Class share (with the broader strategy originating December 30, 1988), TIDDX operates under the portfolio management team of Hiroshi Watanabe (since December 31, 2013), Wenli Zheng (since December 31, 2015), Ben Griffiths (since March 1, 2020), and recently added Dawei Feng (since April 1, 2025), who assumed joint responsibility with Zheng for Greater China investments and will take sole responsibility effective December 31, 2025. This managerial transition represents a key recent change, enabling Zheng to focus on other T. Rowe Price strategies while promoting Feng, an analyst with six years on the team and 16 years of relevant experience. The fund maintains total net assets of approximately $6.41 billion, with the I Class share class at $4.46 billion, targeting institutional and high-net-worth investors seeking foreign small/mid growth equity exposure in the Morningstar Foreign Small/Mid Growth category.