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Fixed Income Capabilities
Free to think, free to perform
Across our broad range of fixed income solutions, our investment teams are inspired to explore original ideas and test them through rigorous research in pursuit of better client outcomes.
At a Glance
years managing fixed income assets
fixed income investment professionals
USD of fixed income AUM¹
We empower our fixed income experts to think creatively and explore new ideas to achieve your investment objectives.
Open minds, original ideas
Our world-class fixed income professionals are curious and astute experts in their field — bringing compelling views that see past common narratives. We deliver real insights on opportunities across global markets.
Ideas tested from many angles
We nurture a culture of curiosity and debate. Our teams are incentivized to think creatively and to share and challenge ideas. We test our ideas from different viewpoints to gauge their true risk and potential reward.
Portfolios aligned to client goals
Our portfolio managers are individually accountable for every decision and client outcome. We prioritize managing risk to ensure each portfolio is intentional in aligning risk to generate return.
Our thoughts on the issues that matter most to you.
Aug 2024
FIXED INCOME
Ahead of the Curve: The San Andreas fault of finance shakes the markets
Bank of Japan monetary tightening and its impact on the flow of global capital is far from simple, and it will have a large influence over the next few years.
Feb 2024
INVESTMENT INSIGHTS
After the Fed pivot, what’s next?
Market optimism for Fed rate cuts has cooled, and investors are wondering when and how far U.S. rates will fall in 2024.
Jan 2024
INVESTMENT INSIGHTS
Putting cash to work in 2024
Trillions of dollars are parked in US money market funds. Where and when investors move these assets next could impact stock and bond returns in 2024.
Established Performance
Our fixed income strategies beat their benchmarks 81% of the time.
Our fixed income strategies beat their benchmarks 81% of the time.
They delivered higher average returns than their benchmarks over time. And they showed better results in the vast majority of rolling monthly periods over a 20-year span.
That's the T. Rowe Price difference.
Past performance is not a reliable indicator of future performance.
¹ Based on an internal study done by T. Rowe Price. For more information on the methodology of this analysis, please see Comparing T. Rowe Price Composites with Their Benchmarks, which is available upon request.
Ten-year periods, rolling monthly, over the last 20 years ended 12/31/23.
Analysis by T. Rowe Price. Represents a comparison of all marketable institutional fixed income composites compared to the official composite primary benchmark assigned to each. Excludes money market, and index/passive composites. In order to avoid double-counting in the analysis, specialized composites viewed as substantially similar to strategies already included (e.g. constrained strategies, ex-single country excluded strategies, etc.) are also excluded. Composite net returns are calculated using the highest applicable separate account fee schedule for institutional clients. All figures in USD. The performance of each T. Rowe Price composite was compared against its official composite primary benchmark using 10-year rolling monthly periods from 1/1/2004 to 12/31/2023.
Analysis aggregates and averages the performance history of 28 fixed income composites covering 2,555 periods.
With an average of 22 years’ experience across markets and sectors, our fixed income professionals are committed to developing their expertise to help meet your objectives across market cycles.
Arif Husain, CFA®
Head of Global Fixed Income and CIO
Arif Husain is the head of Global Fixed Income and chief investment officer of the Fixed Income Division. He is chairman of the Fixed Income Steering Committee and a member of the firm’s Management Committee. Arif is lead portfolio manager for the Global Government Bond High Quality Strategy. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Michael Della Vedova
Global High Yield Portfolio Manager
Mike Della Vedova is a global high yield portfolio manager in the Fixed Income Division. He is a portfolio manager for the Europe High Yield Bond Strategy and co-portfolio manager for the Global High Yield Bond and Global High Income Bond Strategies. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Matthew Lawton, CFA®
Portfolio Manager
Matt Lawton is a portfolio manager in the Fixed Income Division. He manages the Global Impact Credit Strategy and the Global Impact Short Duration Bond Strategy. Matt is a member of the Investment Advisory Committees for the Corporate Income, New Income, Ultra Short-Term Bond, and Short-Term Bond Funds. He also is a member of the Fixed Income ESG Steering & Advisory and the ESG Committees. Matt is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Kenneth A. Orchard
Head of International Fixed Income
Kenneth Orchard is head of International Fixed Income. He is portfolio manager for the Global Multi-Sector Bond and Diversified Income Bond Strategies and co-portfolio manager for the International Bond Strategy. Kenneth is a member of the Fixed Income Steering Committee, cochair of the fixed income Sector Strategy Advisory Group, and a member of the European and UK Asset Allocation Committees. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Investment Ideas for Fixed Income Markets
We explore the investment themes driving global fixed income markets and investment ideas for this environment.
Important Information
All data as of 30 June 2024 unless otherwise stated.
¹The total fixed income assets managed by T. Rowe Price Associates, Inc., and its investment advisory affiliates. Total fixed income assets include all fixed income separate accounts and funds along with a portion of certain T. Rowe Price U.S.-registered multi-asset funds as of 30 June 2024.
For Wholesale Clients only.
Past performance is not a reliable indicator of future performance. All investments are subject to risk, including the possible loss of principal. Fixed income securities are subject to credit risk, liquidity risk, call risk, and interest rate risk. As interest rates rise, bond prices generally fall. Results from other time periods may differ.
T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc., investment advisers of T. Rowe Price strategies.
Fixed-income securities are subject to credit risk, liquidity risk, call risk, and interest-rate risk. As interest rates rise, bond prices generally fall. Investments in high-yield bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. International investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as specific country, regional, and economic developments. These risks are magnified in emerging markets. Derivatives can be highly volatile, illiquid, and difficult to value, and changes in the value of a derivative may not properly correlate with changes in the value of the underlying asset, reference rate, or index. Diversification cannot assure a profit or protect against loss in a declining market.
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