SICAV
Dynamic Global Investment Grade Bond Fund
Seeks to generate positive returns from global investment-grade fixed income with a focus on downside risk and diversification from equity markets.
3YR Return Annualised
(View Total Returns)
Total Assets
(USD)
1YR Return
(View Total Returns)
Manager Tenure
Information Ratio
(3 Years)
Tracking Error
(3 Years)
Inception Date 03-Aug-2017
Performance figures calculated in USD
Strategy
Investment Objective
To generate income while offering some protection against rising interest rates and a low correlation with equity markets.
Investment Approach
- The investment manager's approach is based on proprietary fundamental research and relative value analysis.
- The investment manager seeks to add value primarily through duration management, currency selection, sector allocation and security selection.
- The investment process places a strong emphasis on downside protection, utilizing robust risk management practices and portfolio diversification to manage the overall risk profile.
Portfolio Construction
- The fund invests mainly in a portfolio of bonds of all types from issuers around the world, including emerging markets.
- Specifically, the fund invests at least two-thirds of total assets in debt securities issued by governments, government agencies, companies and banks. Portfolio debt securities can include fixed and floating rate bonds, convertible bonds, warrants and other transferable debt securities of any type, with a rating of investment grade by major rating agencies or if unrated of equivalent quality. The fund may invest more than 20% of assets in asset-backed securities (ABS) and mortgage backed securities (MBS).
- The fund does not invest more than 10% of assets in equities and equity-related securities, 25% of assets in convertible bonds, and one third of assets in money market securities, with total investment in these categories limited to one-third of assets. However, for temporary defensive purposes, investments in money market securities may exceed one-third of assets.
- The fund may use derivatives for hedging, efficient portfolio management and to seek gains. The fund may also use derivatives to create synthetic short positions in currencies, debt securities, credit indices and equities.
Performance (Class Q)
Annualised Performance
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
Since Manager Inception Annualised |
|
|---|---|---|---|---|---|
| Fund % | 7.71% | 3.51% | N/A | 3.10% | 3.10% |
| Indicative Benchmark % | 0.33% | 1.64% | N/A | 1.64% | 1.64% |
| Excess Return % | 7.38% | 1.87% | N/A | 1.46% | 1.46% |
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
|
|---|---|---|---|---|
| Fund % | 7.71% | 3.51% | N/A | 3.10% |
| Indicative Benchmark % | 0.33% | 1.64% | N/A | 1.64% |
| Excess Return % | 7.38% | 1.87% | N/A | 1.46% |
Recent Performance
| Month to DateData as of 21-Apr-2021 | Quarter to DateData as of 21-Apr-2021 | Year to DateData as of 21-Apr-2021 | 1 MonthData as of 31-Mar-2021 | 3 MonthsData as of 31-Mar-2021 | |
|---|---|---|---|---|---|
| Fund % | -0.27% | -0.27% | 1.64% | 0.45% | 1.91% |
| Indicative Benchmark % | 0.01% | 0.01% | 0.06% | 0.02% | 0.05% |
| Excess Return % | -0.28% | -0.28% | 1.58% | 0.43% | 1.86% |
Past performance is not a reliable indicator of future performance. Source for fund performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges (up to a maximum of 5% for the A Class), taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.
Where the base currency of the fund differs from the share class currency, exchange rate movements may affect returns.
Holdings
Holdings
Total
Holdings
53
Sectors
Total
Sectors
6
Countries
Total
Countries
29
Team (As of 16-Apr-2021)
Arif Husain is the head of the International Fixed Income Division. He is a co-portfolio manager for the International Bond and Institutional International Bond Strategies and the lead portfolio manager for the Global Aggregate Bond Strategy. Arif also is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Arif’s investment experience began in 1995, and he has been with T. Rowe Price since 2013. Prior to this, Arif was employed by AllianceBernstein in the area of European Fixed Income and Euro Portfolio Management. He also was a member of the global fixed income and absolute return portfolio management teams. Arif also was employed by Greenwich NatWest as an assistant director of European Derivatives Trading and by the Bank of America National Trust and Savings Association.
Arif earned a B.Sc. (honors) in banking and international finance from City University London, Cass Business School. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Fund manager2017
since - Years at7
T. Rowe Price - Years investment25
experience
Fee Schedule
| Share Class | Minimum Initial Investment and Holding Amount (USD) | Minimum Subsequent Investment (USD) | Minimum Redemption Amount (USD) | Sales Charge (up to) | Investment Management Fee (up to) | Ongoing Charges | UK Tax Reporting Status |
|---|---|---|---|---|---|---|---|
| Class A | $1,000 | $100 | $100 | 5.00% | 85 basis points | 1.02% | No |
| Class I | $2,500,000 | $100,000 | $0 | 0.00% | 43 basis points | 0.53% | No |
| Class Q | $1,000 | $100 | $100 | 0.00% | 43 basis points | 0.60% | No |
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.
T. Rowe Price Funds SICAV and its sub-funds are domiciled in Luxembourg and therefore considered offshore funds for UK tax purposes. Selected share classes of T. Rowe Price Funds SICAV have been designated “Reporting Funds” by HM Revenue & Customs (HMRC) under the guidelines of the UK Offshore Funds Regulation. These share classes report all relevant tax information to HMRC on an annual basis. Details on the information reported are outlined in the SICAV Shareholder Tax Reporting document that is available in the Fund Range Docs drop-down. Investors in “Reporting Fund” share classes who are considered United Kingdom residents for tax purposes will have any accrued gains treated as a capital gain rather than income upon sale or other disposal of their shares.
Arif Husain is the head of the International Fixed Income Division. He is a co-portfolio manager for the International Bond and Institutional International Bond Strategies and the lead portfolio manager for the Global Aggregate Bond Strategy. Arif also is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.