SICAV
Emerging Markets Bond Fund
This is our flagship hard currency emerging markets debt portfolio. It offers broad exposure across emerging markets debt, with a credit-orientated approach that is broadly representative of external sovereign and corporate markets.
ISIN LU0207127753
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FACTSHEET
KIID
COMMENTARY

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Average
Coupon
5.60%
Data as of: 31-Oct-2020
Average
Maturity
12.68yrs
Data as of: 31-Oct-2020
Average
Duration
7.95 yrs
Data as of: 31-Oct-2020
Fund Size
(USD)
$281.1m
Data as of: 31-Oct-2020
Perf Chg
(Daily)
0.04%
Data as of: 30-Nov-2020
Since
Inception
5.94%
Data as of: 31-Oct-2020
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 30-Nov-2020
NAV
(USD)
$26.32
Data as of: 30-Nov-2020
1 YR Return
(Annualised)
-3.75%
Data as of: 31-Oct-2020

Overview
Strategy
Fund Summary
We follow a bottom-up selection process grounded in individual credit fundamentals, guided by selected top-down themes. Proprietary credit research is integrated with relative value analysis. We utilise our emerging markets sovereign and corporate bond analysts as well as collaborating with our emerging markets equity analysts.
Interest Rate Sensitivity
LIMITED
MODERATE
EXTENSIVE

205
Holdings

Average
Quality
BB-
Risk & Reward Data
Information Ratio
-0.31
Sharpe Ratio
0.30
Historical Tracking Error
3.35%
01 June 2015

Fund Name Changed

On 1 June 2015 the fund's name changed from Global Emerging Markets Bond Fund to Emerging Markets Bond Fund.

Performance - Net of Fees
Current Year Performance
MTD
5.62%
Benchmark*
3.86%
Excess Return

1.76%
QTD
5.62%
Benchmark*
3.83%
Excess Return

1.79%
YTD
-0.38%
Benchmark*
3.30%
Excess Return

-3.68%
Data as of 30-Nov-2020
1 Month
0.00%
Benchmark*
-0.03%
Excess Return

0.03%
3 Months
-1.31%
Benchmark*
-1.38%
Excess Return

0.07%
Data as of 31-Oct-2020
 
Annualised Performance
1 YR
-3.75%
Benchmark*
0.98%
Excess Return

-4.73%
3 YR
0.09%
Benchmark*
3.35%
Excess Return

-3.26%
5 YR
4.54%
Benchmark*
5.57%
Excess Return

-1.03%
10 YR
4.15%
Benchmark*
5.24%
Excess Return

-1.09%
Manager Inception
5.94%
Benchmark*
6.83%
Excess Return

-0.89%
Data as of 31-Oct-2020
Indicative Benchmark : J.P. Morgan Emerging Markets Bond Index Global Diversified
Fund Inception: 31-Dec-2004
Manager Inception: 31-Dec-2004

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Holdings
Total
Holdings
205
Top 10
30,05%
Largest
Bahamas Government International Bond
2.42%
Was ( 30-Jun-2020 )
2.42%
Data as of 30-Sep-2020
Duration
Maturity
Quality
Average
7.95 yrs
Average
12.68yrs
Average
BB-
Top
Over 10 Years
28.26%
Was ( 30-Sep-2020 )
27.96%
Top
10+ Years
37.00%
Was ( 30-Sep-2020 )
36.93%
Top
B
27.54%
Was ( 30-Sep-2020 )
27.69%
Over
Cash Equivalents
By 6.02%
Fund
6.02%
Benchmark*
0.00%
Over
Cash Equivalents
By 6.16%
Fund
6.16%
Benchmark*
0.00%
Over
BB
By 10.05%
Fund
26.77%
Benchmark*
16.72%
Under
1-3 Years
By -12.04%
Fund
3.66%
Benchmark*
15.70%
Under
3-5 Years
By -6.36%
Fund
8.88%
Benchmark*
15.24%
Under
A
By -12.90%
Fund
4.02%
Benchmark*
16.92%
Sectors
Total
Sectors
4
Largest
Sovereign
63.59%
Was ( 30-Sep-2020 )
64.76%
Over
Corporate
By 16.97%
Fund
17.35%
Benchmark*
0.38%
Under
Sovereign
By -18.59%
Fund
63.59%
Benchmark*
82.18%
Data as of 31-Oct-2020
Data as of 31-Oct-2020
Indicative Benchmark: J.P. Morgan Emerging Markets Bond Index Global Diversified

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Regions
Data as of
Countries
Total
Countries
54
Largest
Mexico
8.47%
Was ( 30-Sep-2020 )
8.69%
Over
Mexico
By 4.54%
Fund
8.47%
Benchmark*
3.93%
Under
Malaysia
By -2.73%
Fund
0.00%
Benchmark*
2.73%
Data as of 31-Oct-2020
Data as of 31-Oct-2020
Indicative Benchmark: J.P. Morgan Emerging Markets Bond Index Global Diversified

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Currency
Total
Currencies
6
Largest
U.S. dollar
99.22%
Was ( 30-Sep-2020 )
99.28%

Over
Egyptian pound
By 0.51%
Fund
0.51%
Benchmark*
0.00%
Under
U.S. dollar
By -0.78%
Fund
99.22%
Benchmark*
100.00%
Data as of 31-Oct-2020
Indicative Benchmark: J.P. Morgan Emerging Markets Bond Index Global Diversified

* The index shown is not a formal benchmark. It is shown only for comparison purposes.


Team
Michael Conelius,
Portfolio Manager
Michael Conelius is a portfolio manager in the Fixed Income Division. He is lead manager of T. Rowe Price's Emerging Markets Bond Strategy.
Portfolio Manager since
2004
Years at
T. Rowe Price
32
Years investment experience
32
Samy Muaddi,
Portfolio Manager
Samy Muaddi is a portfolio manager in the International Fixed Income Division. He is the lead manager of the Emerging Markets Corporate Bond and Asia Credit Bond Strategies and co-manages the Emerging Markets Bond and Global High Income Bond Strategies.
Portfolio Manager since
2020
Years at
T. Rowe Price
14
Years investment experience
14
Benjamin Robins,
Portfolio Specialist
Ben Robins is a fixed income portfolio specialist. He is a member of the Global Fixed Income team, supporting our emerging market debt strategies.
Years at T. Rowe Price
3
Years investment experience
19
Michael Ganske,
Portfolio Specialist
Michael Ganske is a fixed income portfolio specialist for T. Rowe Price. He is a member of the Global Fixed Income team, supporting our emerging markets debt strategies, which includes hard currency- and local currency-denominated sovereign and corporate debt. He represents the portfolio management team, presenting strategies and market outlooks in meetings and conferences.
Years at T. Rowe Price
1
Years investment experience
20
How to Invest
Fees Minimum Initial Investment and Holding Amount Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1

Indicative Benchmark Data Source: JP Morgan. Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan’s prior written approval. Copyright © 2019, J.P. Morgan Chase & Co. All rights reserved.

Past performance is not a reliable indicator of future performance.

Source for 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.

Daily performance data is based on the latest available NAV.  

The Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital which is registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective investment in transferable securities (“UCITS”). Full details of the objectives, investment policies and risks are located in the prospectus which is available with the key investor information documents in English and in an official language of the jurisdictions in which the Funds are registered for public sale, together with the articles of incorporation and the annual and semi-annual reports (together “Fund Documents”). Any decision to invest should be made on the basis of the Fund Documents which are available free of charge from the local representative, local information/paying agent or from authorised distributors and via www.troweprice.com.

Please note that the Fund typically has a risk of high volatility.

Hedged share classes (denoted by 'h') utilise investment techniques to mitigate currency risk between the underlying investment currency(ies) of the fund and the currency of the hedged share class.  The costs of doing so will be borne by the share class and there is no guarantee that such hedging will be effective.

The specific securities identified and described in this website do not represent all of the securities purchased, sold, or recommended for the sub-fund and no assumptions should be made that the securities identified and discussed were or will be profitable.

A full list of the currently issued Share Classes including Distributing, Hedged, and Accumulating Categories may be obtained, free of charge and upon request, from the registered office of the Company.  

1 Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.

The Morningstar rating is sourced from Morningstar.

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Citywire - where the Fund manager is rated by Citywire the rating is based on the manager's 3 year risk adjusted performance.