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T. Rowe Price Global High Income Fund

The path to global high yield is clear with T. Rowe Price

*As of 31 January 2024. Past performance is not a reliable indicator of future performance. The current yield reflects the market-weighted average of coupon divided by price per security.

A compelling macro environment

Click on the 4 reasons below to find out more

1. Yield is back

Global high yield bonds are at some of the highest yields in a decade

1 January 2012 to 31 December 2023

2. We see opportunity for compelling returns

Today's yields have rarely been observed over the last 10 years

From 31 December 2013 to 31 December 2023

3. Fundamentals are strong

Over 60% of High Yield market rated BB.

As of 31 December 2023

4. Defaults remain low

Default t remains well below the long-term average of 3%.

From 31 January 1986 through 31 December 2023

Why T. Rowe Price for Global High Yield?

30+ years’ experience in managing high yield portfolios

Deep fundamental credit research and capabilities

Our clients have benefited from our track record of consistently low defaults vs global market averages

247 fixed income professionals1

Full integration of ESG factors in the investment process2

Masterclass in high yield investing

Watch: High Yield Portfolio Manager Michael Della Vedova discusses with Livewire’s Hans Lee on how investors should be thinking about allocating to global high yield.

The views and opinions expressed in the video are those of the Investment Professional at the time of the interview and are subject to change without notice. It is not intended to be securities recommendation or statement of opinion intended to influence a person or persons in making a decision in relation to investment.

The video is used with permission from Livewire.

Why T. Rowe Price Global High Income Fund?

Learn more about how the T. Rowe Price Global High Income Fund is your clear path to high yield.

Global high yield education resources

Video: Masterclass in global high yield investing (10 minutes)

Portfolio Manager Michael Della Vedova discusses with Livewire’s Hans Lee on how investors should be thinking about allocating to global high yield.

Webinar recording: 6 global high yield myths busted (20 minutes)

Drawing on his 27 years as a global high yield investor, Mike Della Vedova has discovered six common 'myths' have emerged about global high yield investing.

Mike puts these myths to the test and busts them one by one.

Article: A Clear Path to Global High Yield

Today’s yields have rarely been observed over the last ten years

All information is at 31 December 2023 unless otherwise stated. 

1 Fixed income investment professionals head count consisting of 81 Credit Research Analysts, 20 Quantitative Analysts, 55 Portfolio Managers, 67 Trading and Portfolio Modeling, 16 Portfolio Specialist / Investment Specialists and 8 Business Management, as of 31 December 2023.

2ESG considerations form a part of our overall research process, helping us alongside other factors to identify investment opportunities and manage investment risk. At T. Rowe Price this is known as ESG integration. However, we may conclude that other attributes of an investment outweigh ESG considerations when making investment decisions.

Important Information

Equity Trustees Limited (“Equity Trustees”) (ABN: 46 004 031 298, AFSL: 240975) is a subsidiary of EQT Holdings Limited (ABN: 22 607 797 615), a publicly listed company on the Australian Stock Exchange (ASX:EQT). Equity Trustees and T. Rowe Price Australia Limited ("TRPAU") (ABN: 13 620 668 895, AFSL: 503741) are, respectively, the responsible entity and investment manager of the T. Rowe Price Australian Unit Trusts. Available in Australia for Australian for wholesale clients only.

A Target Market Determination for each T. Rowe Price Australian Unit Trust (or class of units in a Trust) is available here ( It describes who the financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where Equity Trustees Limited, the responsible entity of the T. Rowe Price Australian Unit Trusts may need to review the Target Market Determination for the financial product. 

Past performance is not a reliable indicator of future performance. The price of any fund may go up or down. Investment involves risk including a possible loss to the principal amount invested. For general information purposes only, does not take into account the investment objectives, financial situation or needs of any particular investor. For further details, please refer to each fund's product disclosure statement and reference guide which are available from Equity Trustees  ( or TRPAU (