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Fund Range Documents
SICAV
Asia Credit Bond Fund
An actively managed, diversified portfolio of U.S. dollar-denominated fixed income securities of issuers domiciled, or exercising the predominant part of their economic activity, in Asian countries, excluding Japan. The fund seeks superior risk-adjusted returns via security selection and relative value trades.
ISIN LU1697875810
View more information on risks
FACTSHEET
KIID
Average
Coupon
4.68%
Data as of: 31-Mar-2021
Average
Maturity
7.66 yrs
Data as of: 31-Mar-2021
Average
Duration
5.50 yrs
Data as of: 31-Mar-2021
Fund Size
(USD)
$30.7m
Data as of: 31-Mar-2021
Perf Chg
(Daily)
0.33%
Data as of: 08-Apr-2021
Since
Inception
6.50%
Data as of: 31-Mar-2021
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 31-Mar-2021
NAV
(USD)
$12.14
Data as of: 08-Apr-2021
1 YR Return
(Annualised)
14.53%
Data as of: 31-Mar-2021

Overview
Strategy
Fund Summary
Our approach is based on proprietary fundamental credit research and relative value analysis. The investment process places a strong emphasis on risk management practices and portfolio diversification to manage the overall risk profile. We seek to exploit market inefficiencies and identify unique and underfollowed credit ideas.
LIMITED
MODERATE
EXTENSIVE

119
Holdings

Average
Quality
BBB-
Risk & Reward Data

N/A
31 December 2020

Portfolio Manager Change

Effective 31 December 2020, Sheldon Chan assumed sole portfolio management responsibility for the fund

Performance - Net of Fees
Current Year Performance
MTD
0.66%
Benchmark*
0.28%
Excess Return

0.38%
QTD
0.66%
Benchmark*
0.28%
Excess Return

0.38%
YTD
-0.41%
Benchmark*
-0.97%
Excess Return

0.56%
Data as of 08-Apr-2021
1 Month
-0.50%
Benchmark*
-0.28%
Excess Return

-0.22%
3 Months
-1.07%
Benchmark*
-1.25%
Excess Return

0.18%
Data as of 31-Mar-2021
 
Annualised Performance
1 YR
14.53%
Benchmark*
10.49%
Excess Return

4.04%
3 YR
N/A
Benchmark*
N/A
Excess Return

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

N/A
Inception
6.50%
Benchmark*
5.66%
Excess Return

0.84%
Manager Inception
6.50%
Benchmark*
5.66%
Excess Return

0.84%
Data as of 31-Mar-2021
Indicative Benchmark : J.P. Morgan Asia Credit Index Diversified
Fund Inception: 09-Apr-2018
Manager Inception: 09-Apr-2018
Important Information

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

Holdings
Total
Holdings
119
Top 10
21.43%
Largest
Philippine Government International Bond
2.77%
Was ( 30-Sep-2020 )
0.80%
Data as of 31-Dec-2020
Duration
Maturity
Quality
Average
5.50 yrs
Average
7.66 yrs
Average
BBB-
Top
3-5 Years
28.14%
Was ( 28-Feb-2021 )
29.92%
Top
3-5 Years
28.89%
Was ( 28-Feb-2021 )
26.80%
Top
BBB
46.71%
Was ( 28-Feb-2021 )
43.69%
Over
7-10 Years
By 6.58%
Fund
18.32%
Benchmark*
11.74%
Over
7-10 Years
By 11.04%
Fund
26.96%
Benchmark*
15.92%
Over
BB
By 7.38%
Fund
15.71%
Benchmark*
8.33%
Under
1-3 Years
By -14.43%
Fund
13.88%
Benchmark*
28.30%
Under
1-3 Years
By -14.63%
Fund
10.97%
Benchmark*
25.60%
Under
A
By -12.02%
Fund
11.11%
Benchmark*
23.13%
Important Information Data as of 31-Mar-2021

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

Sectors
Total
Sectors
4
Largest
Corporate
79.67%
Was ( 28-Feb-2021 )
77.76%
Over
Corporate
By 19.47%
Fund
79.67%
Benchmark*
60.20%
Under
Sovereign
By -14.49%
Fund
10.15%
Benchmark*
24.64%
Data as of 31-Mar-2021
Data as of 31-Mar-2021
Indicative Benchmark: J.P. Morgan Asia Credit Index Diversified

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

Regions
Total
Regions
4
Largest
Asia
94.78%
Was ( N/A )
N/A
Over
Asia
By 94.78%
Fund
94.78%
Benchmark**
0.00%
Under
Pacific Ex Japan
By -98.29%
Fund
0.00%
Benchmark**
98.29%
Data as of 31-Mar-2021
Data as of 31-Mar-2021
Indicative Benchmark: J.P. Morgan Asia Credit Index Diversified

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

Countries
Total
Countries
17
Largest
China
27.65%
Was ( 28-Feb-2021 )
31.00%
Over
China
By 5.80%
Fund
27.65%
Benchmark*
21.84%
Under
South Korea
By -6.46%
Fund
5.25%
Benchmark*
11.70%
Data as of 31-Mar-2021
Data as of 31-Mar-2021
Indicative Benchmark: J.P. Morgan Asia Credit Index Diversified

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

Currency
Total
Currencies
5
Largest
U.S. dollar
99.03%
Was ( 28-Feb-2021 )
99.03%

Over
Chinese renminbi
By 0.48%
Fund
0.48%
Benchmark*
0.00%
Under
U.S. dollar
By -0.97%
Fund
99.03%
Benchmark*
100.00%
Data as of 31-Mar-2021
Indicative Benchmark: J.P. Morgan Asia Credit Index Diversified

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


Team
Sheldon Chan,
Portfolio Manager
Sheldon Chan is a portfolio manager and emerging market credit analyst in the Fixed Income Division. He is lead portfolio manager of T. Rowe Price’s Asia Credit Bond Strategy.
Portfolio Manager since
2018
Years at T. Rowe Price
8
Years investment experience
15
Yukiko Hanai,
Portfolio Specialist
Yukiko Hanai is a global fixed income portfolio specialist in the Fixed Income Division of T. Rowe Price, based in Tokyo. She works closely with our local offices in Asia and provides technical knowledge and client servicing for a number of our global fixed income strategies.
Years at T. Rowe Price
3
Years investment experience
28
How to Invest
Fees Minimum Initial Investment and Holding Amount Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1
Class A $1,000 $100 5.00% 100 basis points 1.17%
Class Q $1,000 $100 N/A 50 basis points 0.67%
Class I $2,500,000 $100,000 N/A 50 basis points 0.60%
Important Information

Indicative Benchmark Data Source: JP Morgan. Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan’s prior written approval. Copyright © 2021, J.P. Morgan Chase & Co. All rights reserved.

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.

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.

In accordance with MiFID II regulations, performance data for this product will not be displayed until the fund has more than 12 complete months of data available.