SICAV
Emerging Markets Bond Fund
This is our flagship hard currency emerging markets debt portfolio. It offers broad exposure across emerging markets debt, with a credit-orientated approach that is broadly representative of external sovereign and corporate markets.
ISIN LU0207127753
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FACTSHEET
KIID
COMMENTARY

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Average
Coupon
6.41%
Data as of: 31-Oct-2019
Average
Maturity
10.67yrs
Data as of: 31-Oct-2019
Average
Duration
7.56 yrs
Data as of: 31-Oct-2019
Fund Size
(USD)
$562.9m
Data as of: 31-Oct-2019
Perf Chg
(Daily)
-0.15%
Data as of: 08-Nov-2019
Since
Inception
6.62%
Data as of: 31-Oct-2019
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 31-Oct-2019
NAV
(USD)
$25.85
Data as of: 08-Nov-2019
1 YR Return
(Annualised)
11.16%
Data as of: 31-Oct-2019

Overview
Strategy
Fund Summary
We follow a bottom-up selection process grounded in individual credit fundamentals, guided by selected top-down themes. Proprietary credit research is integrated with relative value analysis. We utilise our emerging markets sovereign and corporate bond analysts as well as collaborating with our emerging markets equity analysts.
Interest Rate Sensitivity
LIMITED
MODERATE
EXTENSIVE

258
Holdings

Average
Quality
BB-
Risk & Reward Data
Information Ratio
-0.25
Sharpe Ratio
0.65
Historical Tracking Error
2.37%
01 June 2015

Fund Name Changed

On 1 June 2015 the fund's name changed from Global Emerging Markets Bond Fund to Emerging Markets Bond Fund.

01 June 2015

Fund Name Changed

On 1 June 2015 the fund's name changed from Global Emerging Markets Bond Fund to Emerging Markets Bond Fund.

Performance - Net of Fees
Current Year Performance
MTD
-0.15%
Benchmark*
-0.43%
Excess Return

0.28%
QTD
0.35%
Benchmark*
-0.15%
Excess Return

0.50%
YTD
11.04%
Benchmark*
12.82%
Excess Return

-1.78%
Data as of 08-Nov-2019
1 Month
0.50%
Benchmark*
0.28%
Excess Return

0.22%
3 Months
-1.22%
Benchmark*
0.57%
Excess Return

-1.79%
Data as of 31-Oct-2019
 
Annualised Performance
1 YR
11.16%
Benchmark*
14.35%
Excess Return

-3.19%
3 YR
4.16%
Benchmark*
5.14%
Excess Return

-0.98%
5 YR
5.11%
Benchmark*
5.44%
Excess Return

-0.33%
10 YR
6.27%
Benchmark*
6.90%
Excess Return

-0.63%
Manager Inception
6.62%
Benchmark*
7.24%
Excess Return

-0.62%
Data as of 31-Oct-2019
Indicative Benchmark : J.P. Morgan Emerging Markets Bond Index Global Diversified
Fund Inception: 31-Dec-2004
Manager Inception: 31-Dec-2004

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

Holdings
Total
Holdings
258
Top 10
39.84%
Largest
Petrobras Global Finance BV
3.90%
Was ( 30-Jun-2019 )
3.55%
Data as of 30-Sep-2019
Duration
Maturity
Quality
Average
7.56 yrs
Average
10.67yrs
Average
BB-
Top
5-7 Years
32.15%
Was ( 30-Sep-2019 )
32.07%
Top
7-10 Years
26.06%
Was ( 30-Sep-2019 )
26.75%
Top
B
36.53%
Was ( 30-Sep-2019 )
37.09%
Over
5-7 Years
By 11.25%
Fund
32.15%
Benchmark*
20.90%
Over
5-7 Years
By 7.00%
Fund
21.51%
Benchmark*
14.51%
Over
B
By 10.67%
Fund
36.53%
Benchmark*
25.86%
Under
1-3 Years
By -5.74%
Fund
8.83%
Benchmark*
14.57%
Under
10+ Years
By -11.23%
Fund
24.94%
Benchmark*
36.17%
Under
A
By -12.83%
Fund
4.68%
Benchmark*
17.51%
Sectors
Total
Sectors
5
Largest
Sovereign
63.87%
Was ( 30-Sep-2019 )
63.35%
Over
Corporate
By 17.72%
Fund
17.72%
Benchmark*
0.00%
Under
Sovereign
By -18.24%
Fund
63.87%
Benchmark*
82.11%
Data as of 31-Oct-2019
Data as of 31-Oct-2019
Indicative Benchmark: J.P. Morgan Emerging Markets Bond Index Global Diversified

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

Regions
Data as of
Countries
Total
Countries
54
Largest
Brazil
11.61%
Was ( 30-Sep-2019 )
11.16%
Over
Brazil
By 8.61%
Fund
11.61%
Benchmark*
3.00%
Under
Russia
By -3.32%
Fund
0.00%
Benchmark*
3.32%
Data as of 31-Oct-2019
Data as of 31-Oct-2019
Indicative Benchmark: J.P. Morgan Emerging Markets Bond Index Global Diversified

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

Currency
Total
Currencies
13
Largest
U.S. dollar
99.39%
Was ( 30-Sep-2019 )
99.90%

Over
Brazilian real
By 0.52%
Fund
0.52%
Benchmark*
0.00%
Under
U.S. dollar
By -0.61%
Fund
99.39%
Benchmark*
100.00%
Data as of 31-Oct-2019
Indicative Benchmark: J.P. Morgan Emerging Markets Bond Index Global Diversified

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


Team
Michael Conelius,
Portfolio Manager
Michael Conelius is a portfolio manager in the Fixed Income Division. He is lead manager of T. Rowe Price's Emerging Markets Bond Strategy.
Portfolio Manager since
2004
Years at
T. Rowe Price
29
Years investment experience
29
Benjamin Robins,
Portfolio Specialist
Ben Robins is a fixed income portfolio specialist. He is a member of the Global Fixed Income team, supporting our emerging market debt strategies.
Years at T. Rowe Price
1
Years investment experience
17
How to Invest
Fees Minimum Initial Investment and Holding Amount Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1

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 © 2019, J.P. Morgan Chase & Co. All rights reserved.

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.

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.

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

Hedged share classes (denoted by 'h') utilise investment techniques to mitigate currency risk between the underlying investment currency(ies) of the fund and the currency of the hedged share class.  The costs of doing so will be borne by the share class and there is no guarantee that such hedging will be effective.

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.

The Morningstar rating is sourced from Morningstar.

©2019 Morningstar, Inc.  All Rights Reserved.  The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely.  Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Citywire - where the Fund manager is rated by Citywire the rating is based on the manager's 3 year risk adjusted performance.