T. Rowe Price Fixed Income

Free to think, Free to explore


Established in experience, we're free to explore new fixed income opportunities for your clients in a changing climate.

Ideas

Ideas are key to our success. Our analysts go beyond the numbers to look for real insights of change in every corner of the market.

At T. Rowe Price analysts are rewarded on the value their ideas create. We are insight-led and idea-driven.

Independence

Our portfolio managers are not held to a central ‘house view’ on the macro positioning of their strategies. They are empowered to identify the themes that are most relevant to their portfolios and to decide how best to express those views to meet investment objectives.

Integration & collaboration

Many investment firms claim to be collaborative but for us, collaboration is the lifeblood of our research culture. We test all our investment ideas across different investment specialist teams. We believe it’s the best way to gauge their true risk and reward.

Risk management

From meticulous company and credit research, to a range of quantitative proprietary risk models monitoring portfolio performance, to our Responsible Investing Indicator (RIIM) model. We continually monitor and manage risk to ensure each portfolio is taking only the intended risks to generate return.


Investor Challenges

With inflation on the rise, several central banks have started to tighten monetary policy. Quantitative easing programs are being wound down and progressive rate rises are commencing. This is a real test for bond markets and investors, after a period of aggressive central bank actions served to drive bond yields to historic lows. With the prospect of more volatility and higher interest rates, what should investors do to shield portfolios from interest rate risk and the rising cost of money? Keep track of the critical market trends and approaches to mitigate interest rate risk.

Global bond yields have fallen to levels that would previously have been unthinkable, with large swathes of the investment-grade market yielding less than zero. Real yields from core assets remain extremely low, making life difficult for income seekers—especially if they are not comfortable migrating into riskier or less liquid markets. Managers need to be skilled in identifying pockets of value, without over-reaching for yield.

Find out how investors could manage their thirst for yield without playing into overly risky assets.

Sustained inflation, the beginning of a Federal Reserve rate‑hiking cycle, tightening liquidity conditions, and the unwinding of pandemic‑era economic distortions— among other factors—have heightened sensitivity in the markets. How governments and monetary policy authorities now respond has assumed elevated importance.

Find the latest intel, research, and portfolio ideas to respond to the ever-shifting landscape.

The historic role of fixed income as diversifying asset class to mitigate equity risk has been challenged. A decade characterized by ultra-low rates, negative yield and muted inflation has led many to question traditional portfolio construction theory. As we move into a new era, what alternative asset class weightings and portfolio construct need to be considered to meet client objectives?

ESG investing has had a remarkable rise over the past decade. The impact of climate change is a systemic investment risk, making the importance of understanding an investment’s environmental footprint more critical than ever before. Regulators, communities, and investors have amplified the imperative to consider environmental, social and governance factors in the investment process.

Learn how ESG is augmenting the insights of our fundamental research platform and how bond investors could benefit.

INVESTMENT PHILOSOPHY

What is freedom in fixed income?

At T. Rowe Price Fixed Income we believe that empowering our teams with the freedom to think, the freedom to explore, delivers better outcomes for our clients. 
Watch how.


CREDENTIALS

Scale and stability to focus on what matters: delivering strong outcomes for our clients

US$282 bn 

Assets under management

  231

  Fixed Income professionals

50+ years

Fixed Income experience


All data as of 31 Mar 2022, unless otherwise stated. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc., and its investment advisory affiliates, including Oak Hill Advisors (OHA).

Fund in Focus: Dynamic Global Bond

Whenever the tide turns, make sure you have an anchor

Your portfolio, anchored.
 


HERITAGE

A consistent approach: tried and tested for over 50 years

When we founded our fixed income division in 1971, the world was a very different place. Over these five decades we have navigated multiple market crises and followed new asset classes as they grew from infancy.

Join our investment professionals as they reflect on their own careers, the evolution of their asset classes – and lessons for the future.

RESEARCH

Open minds generate fresh perspectives​

Our research analysts draw on the expertise of their colleagues across Fixed Income, Equity and ESG to add perspectives, test assumptions and round out their investment thesis.


FUND RANGE

Your route into fixed income markets

We offer a wide range of portfolios to meet clients’ needs, whether they want higher income, more diversification, or a safe pair of hands for their “sleep at night” allocation.

Emerging Local Markets Bond Fund

Responsible Emerging Markets Corporate Bond Fund

Responsible Asia Credit Bond Fund

Global High Income Bond Fund

US High Yield Bond Fund

Responsible Global Aggregate Bond Fund

Responsible European High Yield Bond Fund

Dynamic Credit Fund


Risks - The following risks are materially relevant to this fund: General fund risks, Capital risk, ESG and Sustainability risk, Counterparty risk, Geographic concentration risk, Hedging risk, Investment portfolio risk, Management risk, Operational risk.

Past performance is not a reliable indicator of future performance.

View the definitions of the risks listed above.

INSIGHTS

Our Thinking

June 2022 / INVESTMENT INSIGHTS

A Flexible Bond Approach to Help Navigate Volatile Markets

A Flexible Bond Approach to Help Navigate Volatile Markets

A Flexible Bond Approach to Help Navigate...

How the T. Rowe Price Funds SICAV–Dynamic Global Bond Fund¹ may help during this...

By Arif Husain

Arif Husain Head of International Fixed Income

May 2022 / INVESTMENT INSIGHTS

Five Factors Why 2022 Bond Rout May Reverse

Five Factors Why 2022 Bond Rout May Reverse

Five Factors Why 2022 Bond Rout May Reverse

Global fixed income investors have not endured a rout like this since official data...

By Quentin Fitzsimmons

Quentin Fitzsimmons Portfolio Manager

Isn't it time to explore?

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Want to know more? Get in touch.

If you have questions or would like more information about T. Rowe Price please contact us. 

All data as at 31.03.22. 

1The combined multi-asset portfolios managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates. This figure includes assets that are held outside of T. Rowe Price, but where T. Rowe Price influences trade decisions.

Risks - The following risks are materially relevant to the fund (refer to prospectus for further details):

General Fund Risks

Capital risk - the value of your investment will vary and is not guaranteed. It will be affected by changes in the exchange rate between the base currency of the fund and the currency in which you subscribed, if different. Counterparty risk - an entity with which the portfolio transacts may not meet its obligations to the fund. ESG and Sustainability risk - may result in a material negative impact on the value of investment and performance of the fund. Geographic concentration risk - to the extent that a fund invests a large portion of its assets in a particular geographic area, its performance will be more strongly affected by events within that area. Hedging risk - a fund's attempts to reduce or eliminate certain risks through hedging may not work as intended. Investment fund risk - investing in funds involves certain risks an investor would not face if investing in markets directly. Management risk - the investment manager or its designees may at times find their obligations to a fund to be in conflict with their obligations to other investment funds they manage (although in such cases, all funds will be dealt with equitably). Operational risk - operational failures could lead to disruptions of fund operations or financial losses.​​​​​​​

Important Information

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. They can also be found along with a summary of investor rights in English at www.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.

This material is being furnished for general informational and/or marketing purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, nor is it intended to serve as the primary basis for an investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc. and/or its affiliates receive revenue from T. Rowe Price investment products and services. Past performance is not a reliable indicator of future performance. 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.The material does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The material has not been reviewed by any regulatory authority in any jurisdiction.Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources’ accuracy or completeness. There is no guarantee that any forecasts made will come to pass.

The views contained herein are as of the date noted on the material and are subject to change without notice; these views may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price.The material is not intended for use by persons in jurisdictions which prohibit or restrict the distribution of the material and in certain countries the material is provided upon specific request. It is not intended for distribution to retail investors in any jurisdiction.

EEA – Unless indicated otherwise this material is issued and approved by T. Rowe Price (Luxembourg) Management S.à r.l. 35 Boulevard du Prince Henri L-1724 Luxembourg which is authorised and regulated by the Luxembourg Commission de Surveillance du Secteur Financier. For Professional Clients only.

Switzerland – Issued in Switzerland by T. Rowe Price (Switzerland) GmbH, Talstrasse 65, 6th Floor, 8001 Zurich, Switzerland. First Independent Fund Services Ltd, Klausstrasse 33, CH-8008 Zurich is Representative in Switzerland. Helvetische Bank AG, Seefeldstrasse 215, CH-8008 Zurich is the Paying Agent in Switzerland. For Qualified Investors only.

UK – This material is issued and approved by T. Rowe Price International Ltd, 60 Queen Victoria Street, London, EC4N 4TZ which is authorised and regulated by the UK Financial Conduct Authority. For Professional Clients only.

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