Email from T Rowe Price concerning the reopening:
View in browser
T. Rowe Price Log in to your account T. Rowe Price
Dear Investor,
Fund Name Ticker CUSIP
T. Rowe Price Emerging Markets Stock Fund – Investor Class PRMSX 77956H864
T. Rowe Price Emerging Markets Stock Fund – I Class PRZIX 77956H484
T. Rowe Price Institutional Emerging Markets Equity Fund IEMFX 74144Q203
T. Rowe Price New Horizons Fund – Investor Class PRNHX 779562107
T. Rowe Price New Horizons Fund – I Class PRJIX 779562206
We are writing to inform you that effective April 26, 2023, we are removing the purchase restrictions on the Emerging Markets Stock Fund, Institutional Emerging Markets Equity Fund, and New Horizons Fund.
These funds have been restricted to all investors due to capacity constraints. At that time, we were concerned that continued significant cash inflows would overwhelm the portfolio manager’s ability to invest prudently. This change now allows investors who trade directly with T. Rowe Price to open new accounts in the funds.
Since that time, market conditions have changed, and overall assets under management have decreased. Following a thorough review of net flows and other factors related to the potential capacity of the strategy, we believe we can accommodate controlled asset growth over time.
Thank you for your continued business and partnership with T. Rowe Price. If you have any questions regarding this matter, please feel free to reach out to us.
Download a prospectus for the T. Rowe Price Emerging Markets Stock Fund, the T. Rowe Price Institutional Emerging Markets Equity Fund and the T. Rowe Price New Horizons Fund.
All funds are subject to market risk, including the potential loss of principal.
This communication does not undertake to give investment advice in a fiduciary capacity. T. Rowe Price Associates, Inc., and/or its affiliates receive revenue from T. Rowe Price investment products and services.
This email may be considered advertising under federal law.
T. Rowe Price Investment Services, Inc.

Tough to find actual peers, but it would not be too freaky to look at a CANADIAN-market Index fund, I suppose. In other news: a random walk through the park shows me the following:
VPADX. Vang. Pacific. (10 years) +88.59%
PRWCX. TRP. +224.02%
MAKOX. +97.51%
PRLAX. -4.98%
PRMSX. +46.66%
IRL. +13.49%
There's a link on this page to a full list of closed-end funds trading in Toronto. But when I click on it, it downloads to my computer rather than just OPENING. That's perfect. THAT way, the list is utterly lost and in the midst of oblivion somewhere.
https://www.tsx.com/listings/listing-with-us/sector-and-product-profiles/closed-end-funds

April 10th Episode:
Time in the market verses timing the market...
Time in the market is the best way to reduce risk and insure success for the average investor, not day trading.

Valuation of markets (stocks/bonds) matters. Earnings need to keep pace with stock price. The market often prices (values) stocks ahead of earnings. Pay attention to earnings of stocks.
Select out of favor stocks with good fundamentals. Emerging market stock & EM bonds fit this criteria right now. Small Cap US Value stocks are a great long term investment.
Do you have a favorite Small Cap Value Fund/ ETF?
Vanguard has a few highly ranked SV funds:
VSMVX
VRTVX
VISVX
PV Link comparing these three funds
Emerging Market Debt Fund:
VEMBX
PREMX
Emerging Market Stocks Fund:
ARTYX
PRMSX

You know, just as an example, for the past few years everyone has been saying "go short term" for bonds, but the "long term" bonds have done better. Theory and Practice are two different things.
I often wonder if "you will do better in emerging markets" is more a low-risk prediction game given recent history rather than any fundamental intellect from those who keep saying it.
Specifically, everyone has been beating the drum on "emerging value". If you look at PRMSX to PRIJX comparison, has not quite played out that way. I have basically given up on trying to grow a brain realizing that's what most people who put ideas in print are doing.

Other T Rowe Price funds that are closed, but not mentioned above are PRMSX, PRGTX and OTCFX.

Have PRMSX and ODVIX. ODVIX has not performed well as EM have not done well and the AUM has ballooned.

@Old_Skeet, Thanks for bringing this fund to our attention. Others have mentioned PRMSX
https://mutualfundobserver.com/discuss/search?Search=prmsx
and still other ODMAX (including you and @Ted)
https://mutualfundobserver.com/discuss/search?Search=odmax
Asia gets more and more oversold.

FYI: Regards,Fears over trade wars, slowing growth in China, and rising U.S. interest rates have wreaked havoc on emerging-markets stocks. The diversified emerging-markets Morningstar Category was the worst nonsector or single-country fund peer group for the year to date and trailing 12 months through mid-October 2018.
This type of volatility still comes with the asset class. Emerging markets are different than they were when investors started using the term more than three decades ago. They are deeper, more liquid, and populated by more-mature global companies. The developing world, however, is still prone to social, political, and macroeconomic upheavals that can churn short-term equity returns. It still pays to have a steady hand at the helm of a proven process if you opt for an actively managed investment strategy.
Ted
https://www.morningstar.com/articles/887706/3-emergingmarkets-equity-funds-that-have-handled-v.html

PRIDX is a TRPrice SC International
FMIJX is a risk averse LC International
If you have a long term horizon EM funds like PRMSX or the index VWO
Also many Blue Chip US companies do business Internationally / Globally so you may actually be more "globally" positioned than 5% ... maybe TRBCX
OGIYX - global opportunities in SC space

@Sven. SFGIX hasn't been around for 10 years. Inception date looks like 2/15/2012...so closer to 6 years. I'll agree that it has out performed the index (a fund such as VWO), but SFGIX is not an all equity fund (closer to 70/15/15 over its lifetime).
70% EM
15 % of his fund is in LT and IT Treasuries
15% of his fund is classified as "Ex - US Develop"
I compared his fund to a "2 fund combo of PRMSX & PREMX" (70/30). The trade off here is SFGIX opts for US Treasuries where PREMX is most EM Corporates.
Similar results...so nothing special here.
But, over shorter time frames he does a good job of managing downside risk.
I Like MAPIX, FMIJX, PRWCX for the same reason.
Fund managers that manage downside risk and deploy into opportunities are hard to find.

I purchased some PRIJX for my in-laws account. Preferred it over PRMSX. I hope I timed it right. Surprising they are PRMSX when tide just seems to be turning for Emerging Markets.

Another good way to play the growth in China's internet sector is via T. Rowe Price Emerging Markets Stock Fund (PRMSX). Almost 22.5% of its holdings are in Tencent and Alibaba.
https://finance.yahoo.com/quote/PRMSX/
https://www.cnbc.com/2017/11/21/these-tech-stocks-are-outperforming-adding-600-billion-in-market-cap.html

One of @Scott's often mentioned EM funds, RIMIX has also had a good start YTD after a lackluster 2016.PRMSX probably helped by the analysts in the T R P Latin American office.PRLAX up near 47% last 52 weeks.RIMIX remains an emerging Asia-centric fund with low turnover /rotation.

Just noticed. ON FIRE. +10.92, YTD, 2/23/2017. PRMSX. Don't own it. I do own SFGIX, and it lags PRMSX these days. But look back 5 years: SFGIX wins, hands-down. SFGIX is closed, anyhow. If you're not already in, I'd say PRMSX deserves a look. Eh?

Where is this years global growth occurring?

A lot can happen in 15 years, but how long ago does the year 2000 feel to you? Projected Global growth by GDP (2030):
"Get ready for a new economic order. In the world 15 years from now, the U.S. will be far less dominant, several emerging markets will catapult into prominence, and some of the largest European economies will be slipping behind."

referenced article:
the-world-s-20-largest-economies-in-2030
My Take:
Matthews Funds do a nice job in the Asia markets (MAPIX, MACSX, MSMLX, MCDFX, MAKOX, MAPTX, MINDX and others)
T Rowe Price Funds do a nice job in other EM markets (TREMX, TRAMX, PRLAX, PRMSX, PREMX)

@ David_Snowball
"It does, I think, feed the ongoing discussions here about the future of 60/40 portfolios as safe havens and how to think about positioning your portfolio."
My thought:
How about an "Emerging 60/40 fund"? Would MAPIX or MACSX fit the bill or a maybe a combination of PRMSX and PREMX?

Yeah ...
Somehow I find it depressing that you can sit atop the world's most extensive collection of mutual fund data and probably the world's largest fund analyst corps and all you manage to ferret out are two huge funds standing in plain view.
American Funds New World (NEWFX): $25 billion and a decent record as an EM fund over all trailing periods, especially given its muted volatility. One minor downside is that it doesn't particular invest in EM stocks conventionally conceived. By M*'s tracking, a third of its money is in EM stocks and two-thirds elsewhere. Where elsewhere? Toyota, Nestle, Novo Nordisk, Cummins Diesel, Samsung, Prudential ... The argument, of course, is that these firms sell a lot to the emerging markets but, Ms. Benz agrees, it might not be the best way to get EM exposure which leaves us with ...
T. Rowe Price Emerging Market Stock (PRMSX): $7.8 billion and an utterly undistinguished record under its current manager. Since his arrival in September 2008 the fund has modestly trailed its peer group and the corresponding Vanguard index fund but does not seem to have compensated for that with noticeably lower volatility.
Their only regional fund is Matthews China (MCHFX), at a sprightly $1.2 billion. On whole, I suppose if I want to pursue regional exposure in Asia I'd argue from a more broadly focused Matthews fund.
Oh well, back to working on this afternoon's class.
David

catch22,
Good to see you around again.. Here are the answers. I am looking for ideas/suggestions on the three strategies I mentioned (or any other strategy for that matter) - DCA the whole amount over 18 months, wait for a correction and then start DCAing in, or follow a newsletter. Looking forward to your and other's opinions.
-B

Howdy @Bhopali
--- What are the 10 funds you now have and what percentage of each, for your total holdings?
OSMAX - Oppenhiemer Intl Small (12%), PRFDX - T Rowe Equity Income (20%), VFINX - Vanguard 500 (13%), VIMSX - Vanguard Mid Index (10%), VISGX - Vanguard Small Index (20%), DODFX - Dodge and Cox Intl (10%), PRNEX - T Rowe New Era (5%), PRMSX - T Rowe Emerging (5%), PCVAX - Allianz Small Cap Value (5%)
---Are all of your current fund holdings in tax sheltered accts (IRA's, etc.)?
Currently, about half is in sheltered and other half in taxable
---Will all of this new money have to be invested in non-tax sheltered accts; or are you able to invest some of the monies into a Roth IRA?
All of it will be in taxable.
---Do you currently invest monies into a 401k, 403b, etc.?
Yes. 401k and Roth
---There are those here who frown upon any advisement being given by strangers via a discussion board on the internet.
I understand. I am looking for suggestions. Fundalarm, and now mutual fund observer, has been my source of ideas for 10+ years. I don't post often but usually do when I want suggestions...
For all practical purposes, consider whatever advisement you may be provided; to constitute.............suggestions for consideration.
Regards,
Catch

I mildly regret having bought VMMSX which is the Vanguard Emerging Market Select Fund. I was tired of the lackluster returns of PRMSX which I held onto for over 6 years, so I swapped into the Vanguard vehicle which at least has a lower ER (and I hate to admit it, but better short term performance was a driving factor too). Besides the lower ER, the main attraction of VMMSX was that it is partially sub-advised by an team at Oaktree emerging market group which I heard has produced spectacular results on the private wealth management side of the fence (although I have no proof of this). The other sub-advisors are Wellington, Pzena, & M&G. Although I guess they are all reputable shops, my conviction level is low as I really have no way to evaluate the talent and track records of the people managing this fund. Despite the regret, I will continue adding to it for as the asset class (particularly large cap EM value) seems to be out of favor.

My understanding is that Biotech has had a hot/cold dynamic as an investment over the past 30 years. IPO have had a lot to do with their investment success. Technology and innovation has made this all possible. Here's a chart of the biotech IPOs over the last 30 years. Many of these spikes equates to investment outperformance.

reference:
insights-from-30-years-of-biotech-ipos
Natural gas over the last 30 years has followed a very different performance path, but technology and innovation again has lead this sector to new discoveries and efficiencies. Long term plentiful and inexpensive natural gas will boost manufacturing, fertlizer production, lower electrical generation costs, reduce carbon emission / btu as well as provide input components for a whole spectrum of chemical products.
Pairing these two sectors plays (using UNG or FBIOX) with Utility funds (GASFX, BULIX), chemical / Industrial manufacturing funds (VIS, FSCHX), Health Care funds (PRMSX, VGHCX, or others) seems like a good way to also incorporate these outperforming sectors.