We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
T. Rowe Price (TROW) Unveils Shanghai Unit, Boosts Presence in China
Read MoreHide Full Article
T. Rowe Price Group, Inc. (TROW - Free Report) recently announced the opening of its Shanghai Investment Research office. Earlier on Dec 18, 2020, it had also established a wholly foreign-owned enterprise, called T. Rowe Price Investment Consulting Co. Ltd., in Shanghai’s Free Trade Zone.
The new office will house analysts, whose sole responsibility would be to conduct research on Chinese companies, and also boost T. Rowe Price’s research coverage of China’s thriving investment universe.
Further, the unit will strengthen and complement its leading global research platform, which imparts investment decisions across the firm’s range of local, regional and global investing strategies.
The office will be headed by Dai Wang, who joined T. Rowe Price in 2014, as a research analyst in the Equity division covering Asian stocks.
T. Rowe Price has been doing business with China through global strategies since a decade and remains committed to further fortify its presence. The company currently has two China-concentrated strategies managed out of Hong King by Wenli Zheng and Jacqueline Liu.
T. Rowe Price has also invested $4.8 billion into Mainland China listed securities as of Dec 31, 2020, in addition to the $36.9 billion invested in Chinese securities listed on exchanges offshore, through its Qualified Foreign Institutional Investors and the Shanghai-Hong Kong and Shenzhen-Hong Kong Connect schemes.
Justin Thomson, head of international equity and co-head of global equity at T. Rowe Price, said, “The opening of our office in Shanghai represents an important milestone for T. Rowe Price, both in terms of bolstering our coverage of and commitment to China, as well as our long-term plan to build a sustainable and diversified business in the Asia Pacific region.”
Our Viewpoint
China has surfaced as the second largest equity market globally and is one of the broadest as well as the deepest growth markets outside the United States. The Shanghai office is T. Rowe Price’s sixth location in Asia and 24th, globally. This move will enhance its ability to cover securities locally and seize profit generating opportunities in the Chinese market for the bank’s clients.
Shares of T. Rowe Price have rallied 36.2% over the past year, outperforming the industry's growth of 29.7%.
The Blackstone Group Inc. (BX - Free Report) witnessed an upward earnings estimate revision of 5.3% for 2021 over the past month. Its shares have gained 26.1% over the past year. At present, it carries a Zacks Rank of 2.
Affiliated Managers Group, Inc. (AMG - Free Report) recorded a 13.7% upward earnings estimate revision for the ongoing year in the past month. Its shares have surged 81.7 % in a year’s time. Currently, the stock flaunts a Zacks Rank of 1.
KKR & Co. Inc. (KKR - Free Report) registered an upward earnings estimate revision of 3.7% for the current year in a months’ time. Its shares have rallied 59.9 % in the past year. It carries a Zacks Rank of 2, currently.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Bigstock
T. Rowe Price (TROW) Unveils Shanghai Unit, Boosts Presence in China
T. Rowe Price Group, Inc. (TROW - Free Report) recently announced the opening of its Shanghai Investment Research office. Earlier on Dec 18, 2020, it had also established a wholly foreign-owned enterprise, called T. Rowe Price Investment Consulting Co. Ltd., in Shanghai’s Free Trade Zone.
The new office will house analysts, whose sole responsibility would be to conduct research on Chinese companies, and also boost T. Rowe Price’s research coverage of China’s thriving investment universe.
Further, the unit will strengthen and complement its leading global research platform, which imparts investment decisions across the firm’s range of local, regional and global investing strategies.
The office will be headed by Dai Wang, who joined T. Rowe Price in 2014, as a research analyst in the Equity division covering Asian stocks.
T. Rowe Price has been doing business with China through global strategies since a decade and remains committed to further fortify its presence. The company currently has two China-concentrated strategies managed out of Hong King by Wenli Zheng and Jacqueline Liu.
T. Rowe Price has also invested $4.8 billion into Mainland China listed securities as of Dec 31, 2020, in addition to the $36.9 billion invested in Chinese securities listed on exchanges offshore, through its Qualified Foreign Institutional Investors and the Shanghai-Hong Kong and Shenzhen-Hong Kong Connect schemes.
Justin Thomson, head of international equity and co-head of global equity at T. Rowe Price, said, “The opening of our office in Shanghai represents an important milestone for T. Rowe Price, both in terms of bolstering our coverage of and commitment to China, as well as our long-term plan to build a sustainable and diversified business in the Asia Pacific region.”
Our Viewpoint
China has surfaced as the second largest equity market globally and is one of the broadest as well as the deepest growth markets outside the United States. The Shanghai office is T. Rowe Price’s sixth location in Asia and 24th, globally. This move will enhance its ability to cover securities locally and seize profit generating opportunities in the Chinese market for the bank’s clients.
Shares of T. Rowe Price have rallied 36.2% over the past year, outperforming the industry's growth of 29.7%.
Currently, T. Rowe Price carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Stocks to Consider
The Blackstone Group Inc. (BX - Free Report) witnessed an upward earnings estimate revision of 5.3% for 2021 over the past month. Its shares have gained 26.1% over the past year. At present, it carries a Zacks Rank of 2.
Affiliated Managers Group, Inc. (AMG - Free Report) recorded a 13.7% upward earnings estimate revision for the ongoing year in the past month. Its shares have surged 81.7 % in a year’s time. Currently, the stock flaunts a Zacks Rank of 1.
KKR & Co. Inc. (KKR - Free Report) registered an upward earnings estimate revision of 3.7% for the current year in a months’ time. Its shares have rallied 59.9 % in the past year. It carries a Zacks Rank of 2, currently.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>