SICAV
Euro Corporate Bond Fund
A diversified investment grade corporate fund with a focus on security selection.
ISIN LU0133091248
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FACTSHEET
KIID
FUND PROFILE
COMMENTARY

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Average
Coupon
1.98%
Data as of: 30-Sep-2019
Average
Maturity
5.60 yrs
Data as of: 30-Sep-2019
Average
Duration
N/A
Data as of: 30-Sep-2019
Fund Size
(EUR)
€210.8m
Data as of: 30-Sep-2019
Perf Chg
(Daily)
0.05%
Data as of: 15-Oct-2019
Since
Inception
4.39%
Data as of: 30-Sep-2019
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 30-Sep-2019
NAV
(EUR)
€21.22
Data as of: 15-Oct-2019
1 YR Return
(Annualised)
7.02%
Data as of: 30-Sep-2019

Overview
Strategy
Fund Summary
Seeks to generate attractive risk-adjusted total returns over the medium to long term primarily through investing in euro-denominated corporate bonds.
Interest Rate Sensitivity
LIMITED
MODERATE
EXTENSIVE

198
Holdings

Average
Quality
BBB
Risk & Reward Data
Information Ratio
0.39
Sharpe Ratio
-0.33
Historical Tracking Error
0.82%
Performance - Net of Fees
Current Year Performance
MTD
-0.52%
Benchmark*
-0.50%
Excess Return

-0.02%
QTD
-0.52%
Benchmark*
-0.50%
Excess Return

-0.02%
YTD
6.85%
Benchmark*
6.25%
Excess Return

0.60%
Data as of 15-Oct-2019
1 Month
-0.33%
Benchmark*
-0.76%
Excess Return

0.43%
3 Months
2.01%
Benchmark*
1.29%
Excess Return

0.72%
Data as of 30-Sep-2019
 
Annualised Performance
1 YR
7.02%
Benchmark*
6.13%
Excess Return

0.89%
3 YR
2.55%
Benchmark*
2.19%
Excess Return

0.36%
5 YR
3.01%
Benchmark*
2.69%
Excess Return

0.32%
10 YR
4.81%
Benchmark*
4.36%
Excess Return

0.45%
Manager Inception
N/A
Benchmark*
N/A
Excess Return

N/A
Data as of 30-Sep-2019
Indicative Benchmark : Bloomberg Barclays Euro-Aggregate: Corporates Bond Index EUR
Fund Inception: 05-Feb-2002

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

Holdings
Total
Holdings
198
Top 10
19.37%
Largest
Allianz
1.58%
Was ( 30-Jun-2019 )
0.00%
Data as of 30-Sep-2019
Duration
Maturity
Quality
Average
N/A
Average
5.60 yrs
Average
BBB
Top
3-5 Years
28.33%
Was ( 31-Aug-2019 )
28.48%
Top
3-5 Years
26.04%
Was ( 31-Aug-2019 )
26.48%
Top
BBB
67.70%
Was ( 31-Aug-2019 )
69.28%
Over
7-10 Years
By 4.81%
Fund
21.98%
Benchmark*
17.17%
Over
3-5 Years
By 26.04%
Fund
26.04%
Benchmark*
0.00%
Over
BBB
By 17.05%
Fund
67.70%
Benchmark*
50.65%
Under
1-3 Years
By -6.70%
Fund
18.73%
Benchmark*
25.43%
Under
A
By -21.28%
Fund
14.79%
Benchmark*
36.07%
Regions
Data as of
Countries
Total
Countries
26
Largest
United States
18.99%
Was ( 31-Aug-2019 )
19.01%
Over
Spain
By 4.86%
Fund
10.61%
Benchmark*
5.75%
Under
France
By -17.03%
Fund
4.03%
Benchmark*
21.06%
Data as of 30-Sep-2019
Data as of 30-Sep-2019
Indicative Benchmark: Bloomberg Barclays Euro-Aggregate: Corporates Bond Index EUR

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


Team
David Stanley,
Portfolio Manager
David Stanley is a portfolio manager in the Fixed Income Division, responsible for European corporate bond selection.
Portfolio Manager since
2003
Years at
T. Rowe Price
14
Years investment experience
30
Stephen Marsh,
Fixed Income Portfolio Specialist
Stephen Marsh is a portfolio specialist in the Fixed Income Division, based in London.
Years at T. Rowe Price
2
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: Bloomberg Barclays

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.

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