SICAV
US High Yield Bond Fund
Concentrated high yield portfolio primarily focused on the traditional US high yield investment opportunity set.
ISIN LU1697877279
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FACTSHEET
KIID
Average
Coupon
6.78%
Data as of: 30-Sep-2019
Average
Maturity
6.03 yrs
Data as of: 30-Sep-2019
Average
Duration
3.27 yrs
Data as of: 30-Sep-2019
Fund Size
(USD)
$151.6m
Data as of: 30-Sep-2019
Perf Chg
(Daily)
0.00%
Data as of: 15-Oct-2019
Since
Inception
5.43%
Data as of: 30-Sep-2019
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 30-Sep-2019
NAV
(USD)
$10.77
Data as of: 15-Oct-2019
1 YR Return
(Annualised)
6.72%
Data as of: 30-Sep-2019

Overview
Strategy
Fund Summary
Seeks to capitalise on price inefficiencies that create attractive relative value opportunities across issuers due to size, credit quality and geography.
LIMITED
MODERATE
EXTENSIVE

101
Holdings

Average
Quality
B
Risk & Reward Data

Risk return statistics are not available until 3 years of data is available.
Performance - Net of Fees
Current Year Performance
MTD
-0.28%
Benchmark*
0.05%
Excess Return

-0.33%
QTD
-0.28%
Benchmark*
0.05%
Excess Return

-0.33%
YTD
13.13%
Benchmark*
11.56%
Excess Return

1.57%
Data as of 15-Oct-2019
1 Month
0.84%
Benchmark*
0.32%
Excess Return

0.52%
3 Months
2.47%
Benchmark*
1.22%
Excess Return

1.25%
Data as of 30-Sep-2019
 
Annualised Performance
1 YR
6.72%
Benchmark*
6.30%
Excess Return

0.42%
3 YR
N/A
Benchmark*
N/A
Excess Return

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

N/A
Inception
5.43%
Benchmark*
5.82%
Excess Return

-0.39%
Manager Inception
5.43%
Benchmark*
5.82%
Excess Return

-0.39%
Data as of 30-Sep-2019
Indicative Benchmark : ICE BofAML US High Yield Constrained Index
Fund Inception: 16-Apr-2018
Manager Inception: 16-Apr-2018

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

Holdings
Total
Holdings
101
Top 10
20.85%
Largest
Bausch Health Americas
2.86%
Was ( 30-Jun-2019 )
3.05%
Data as of 30-Sep-2019
Duration
Maturity
Quality
Average
3.27 yrs
Average
6.03 yrs
Average
B
Top
3-5 Years
43.28%
Was ( 31-Aug-2019 )
36.43%
Top
5-7 Years
37.77%
Was ( 31-Aug-2019 )
37.54%
Top
B Rated
32.62%
Was ( 31-Aug-2019 )
34.36%
Over
3-5 Years
By 8.27%
Fund
43.28%
Benchmark*
35.01%
Over
7-10 Years
By 13.64%
Fund
31.97%
Benchmark*
18.33%
Over
BB/B Rated
By 14.92%
Fund
14.92%
Benchmark*
0.00%
Under
Under 1 Year
By -9.75%
Fund
7.78%
Benchmark*
17.53%
Under
1-3 Years
By -12.39%
Fund
2.44%
Benchmark*
14.83%
Under
BB Rated
By -29.78%
Fund
19.38%
Benchmark*
49.16%
Industry
Total
Industries
17
Largest
Media
13.97%
Was ( 31-Aug-2019 )
12.56%
Over
Media
By 3.37%
Fund
13.97%
Benchmark*
10.59%
Under
Technology & Electronics
By -3.67%
Fund
1.65%
Benchmark*
5.32%
Data as of 30-Sep-2019
Data as of 30-Sep-2019
Indicative Benchmark: ICE BofAML US High Yield Constrained Index

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

Regions
Data as of
Countries
Total
Countries
11
Largest
United States
78.34%
Was ( 31-Aug-2019 )
72.43%
Over
Ireland
By 2.94%
Fund
3.45%
Benchmark*
0.51%
Under
United States
By -8.25%
Fund
78.34%
Benchmark*
86.59%
Data as of 30-Sep-2019
Data as of 30-Sep-2019
Indicative Benchmark: ICE BofAML US High Yield Constrained Index

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


Team
Kevin Loome,
Portfolio Manager
Kevin Loome is lead portfolio manager of the US High Yield Bond strategy. He and his team joined T. Rowe Price Group Inc. in 2017 from Henderson Global Investors (North America) Inc.
Portfolio Manager since
2018
Years at T. Rowe Price
1
Years investment experience
25
Gregor Dannacher,
Global Fixed Income Portfolio Specialist
Gregor Dannacher is a portfolio specialist in the Fixed Income division. He supports the Credit Opportunities, Global High Income, Global High Yield, US High Yield and US Investment Grade Corporate strategies.
Years at T. Rowe Price
2
Years investment experience
25
How to Invest
Fees Minimum Initial Investment and Holding Amount Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1
Class A $15,000 $100 5.00% 115 basis points 1.32%
Class Q $15,000 $100 N/A 60 basis points 0.77%
Class I $2,500,000 $100,000 N/A 60 basis points 0.70%

Indicative Benchmark Data Source: ICE BofA Merrill Lynch

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. Past performance is not a reliable indicator of future performance.

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.

Daily performance data is based on the latest available NAV.  

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

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.