SICAV
Dynamic Credit Fund
Seeks total return through a combination of income and capital appreciation by investing in a variety of credit instruments. Aims to deliver attractive returns, preserve capital through the credit cycle, and outperform equities and high yield in periods of market stress.
ISIN LU2047632166
View more information on risks
FACTSHEET
KIID
Average
Coupon
4.83%
Data as of: 30-Sep-2021
Average
Maturity
5.17 yrs
Data as of: 30-Sep-2021
Average
Duration
-0.03yrs
Data as of: 30-Sep-2021
Fund Size
(USD)
$28.8m
Data as of: 30-Sep-2021
Perf Chg
(Daily)
0.00%
Data as of: 22-Oct-2021
Since
Inception
5.92%
Data as of: 30-Sep-2021
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 30-Sep-2021
NAV
(USD)
$11.06
Data as of: 22-Oct-2021
1 YR Return
(Annualised)
12.86%
Data as of: 30-Sep-2021

Overview
Strategy
Fund Summary
The strategy’s investment approach provides the flexibility to invest both long and short across a wide variety of traditional and non-traditional global credit instruments without constraints to particular benchmarks, asset classes or sectors, seeking consistent risk-adjusted returns over a full market cycle. The strategy seeks out high-conviction opportunities created by dynamic global market conditions and is expected to hold a relatively concentrated portfolio.
LIMITED
MODERATE
EXTENSIVE

100
Holdings

Average
Quality
BB-
Risk & Reward Data

Risk return statistics are not available until 3 years of data is available.
Performance - Net of Fees
Current Year Performance
MTD
0.00%
Benchmark*
0.01%
Excess Return

-0.01%
QTD
0.00%
Benchmark*
0.01%
Excess Return

-0.01%
YTD
8.54%
Benchmark*
0.13%
Excess Return

8.41%
Data as of 22-Oct-2021
1 Month
0.00%
Benchmark*
0.01%
Excess Return

-0.01%
3 Months
0.73%
Benchmark*
0.03%
Excess Return

0.70%
Data as of 30-Sep-2021
 
Annualised Performance
1 YR
12.86%
Benchmark*
0.18%
Excess Return

12.68%
3 YR
N/A
Benchmark*
N/A
Excess Return

N/A
5 YR
N/A
Benchmark*
N/A
Excess Return

N/A
Inception
5.92%
Benchmark*
0.45%
Excess Return

5.47%
Manager Inception
N/A
Benchmark*
N/A
Excess Return

N/A
Data as of 30-Sep-2021
Indicative Benchmark : 3 Month LIBOR in USD
Fund Inception: 30-Dec-2019

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

Holdings
Total
Holdings
100
Top 10
21.54%
Largest
FOCUS Brands Funding
2.28%
Was ( 30-Jun-2021 )
2.30%
Data as of 30-Sep-2021
Duration
Maturity
Quality
Average
-0.03yrs
Average
5.17 yrs
Average
BB-
Top
3-5 Years
26.32%
Was ( 31-Aug-2021 )
29.25%
Top
3-5 Years
32.99%
Was ( 31-Aug-2021 )
35.88%
Top
B
20.98%
Was ( 31-Aug-2021 )
26.36%
Sectors
Total
Sectors
6
Largest
Corporate
29.35%
Was ( 31-Aug-2021 )
35.03%
Data as of 30-Sep-2021
Regions
Total
Regions
4
Largest
North America
58.53%
Was ( N/A )
N/A
Data as of 30-Sep-2021
Countries
Total
Countries
17
Largest
United States
56.38%
Was ( 31-Aug-2021 )
61.84%
Data as of 30-Sep-2021

Team
Saurabh Sud,
Portfolio Manager
Saurabh Sud is a senior portfolio manager in the Fixed Income division, with specific expertise in credit markets.
Portfolio Manager since
2019
Years at T. Rowe Price
1
Years investment experience
12
Stephane Fertat,
Portfolio Specialist
Stephane Fertat is a fixed income portfolio specialist. He is a member of the Global Fixed Income team, supporting all global/international fixed income strategies.
Years at
T. Rowe Price
13
Years investment experience
23
How to Invest
Fees Minimum Initial Investment and Holding Amount Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1
Class A $1000 $100 5.00% 107.5 basis points 1.245%
Class Q $1000 $100 N/A 57.5 basis points 0.745%
Class I $2,500,000 $100,000 N/A 57.5 basis points 0.675%

Indicative Benchmark Data Source: ICE

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.