SICAV
Global Government Bond Fund
A concentrated global bond portfolio of high-conviction, high-quality government bonds from liquid sovereign markets, with limited exposure to emerging market risk. The fund seeks to achieve attractive returns that are typically less correlated to equity and credit markets.
ISIN LU2041632279
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FACTSHEET
KIID
Average
Coupon
1.02%
Data as of: 31-May-2021
Average
Maturity
6.41 yrs
Data as of: 31-May-2021
Average
Duration
3.17 yrs
Data as of: 31-May-2021
Fund Size
(USD)
$10.8m
Data as of: 31-May-2021
Perf Chg
(Daily)
-0.28%
Data as of: 18-Jun-2021
Since
Inception
4.26%
Data as of: 31-May-2021
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 31-May-2021
NAV
(USD)
$10.65
Data as of: 18-Jun-2021
1 YR Return
(Annualised)
3.08%
Data as of: 31-May-2021

Overview
Strategy
Fund Summary
Leveraging the firm’s deep, global fixed income expertise and strong sovereign research experience, we use a dynamic investment approach to actively manage duration, yield curve, and country selection. We seek to balance high tracking error with disciplined risk management embedded throughout the investment process, while maintaining a high liquidity profile.
LIMITED
MODERATE
EXTENSIVE

40
Holdings

Average
Quality
AA
Risk & Reward Data

Risk return statistics are not available until 3 years of data is available.
Performance - Net of Fees
Current Year Performance
MTD
-0.65%
Benchmark*
0.53%
Excess Return

-1.18%
QTD
-0.75%
Benchmark*
0.73%
Excess Return

-1.48%
YTD
-0.37%
Benchmark*
-2.38%
Excess Return

2.01%
Data as of 18-Jun-2021
1 Month
-0.19%
Benchmark*
0.18%
Excess Return

-0.37%
3 Months
0.66%
Benchmark*
0.00%
Excess Return

0.66%
Data as of 31-May-2021
 
Annualised Performance
1 YR
3.08%
Benchmark*
-1.65%
Excess Return

4.73%
3 YR
N/A
Benchmark*
N/A
Excess Return

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

N/A
Inception
4.26%
Benchmark*
0.93%
Excess Return

3.33%
Manager Inception
N/A
Benchmark*
N/A
Excess Return

N/A
Data as of 31-May-2021
Indicative Benchmark : FTSE World Government Bond Index Hedged USD
Fund Inception: 30-Sep-2019

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

Holdings
Total
Holdings
40
Top 10
89.78%
Largest
Japan Government Five Year Bond
9.65%
Was ( 31-Dec-2020 )
10.11%
Data as of 31-Mar-2021
Duration
Maturity
Quality
Average
3.17 yrs
Average
6.41 yrs
Average
AA
Top
3-5 Years
42.58%
Was ( 30-Apr-2021 )
37.06%
Top
3-5 Years
42.34%
Was ( 30-Apr-2021 )
36.91%
Top
AAA
40.72%
Was ( 30-Apr-2021 )
39.60%
Over
3-5 Years
By 23.84%
Fund
42.58%
Benchmark*
18.74%
Over
3-5 Years
By 25.03%
Fund
42.34%
Benchmark*
17.30%
Over
AAA
By 29.00%
Fund
40.72%
Benchmark*
11.72%
Under
1-3 Years
By -18.94%
Fund
6.43%
Benchmark*
25.37%
Under
1-3 Years
By -17.32%
Fund
6.36%
Benchmark*
23.68%
Under
US Treasury
By -36.55%
Fund
0.00%
Benchmark*
36.55%
Regions
Total
Regions
4
Largest
Japan
32.55%
Was ( N/A )
N/A
Over
Japan
By 15.34%
Fund
32.55%
Benchmark**
17.21%
Under
Europe
By -13.99%
Fund
27.30%
Benchmark**
41.28%
Data as of 31-Mar-2021
Data as of 31-Mar-2021
Indicative Benchmark: FTSE World Government Bond Index Hedged USD

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

Countries
Total
Countries
15
Largest
Japan
31.72%
Was ( 30-Apr-2021 )
32.64%
Over
Japan
By 14.80%
Fund
31.72%
Benchmark*
16.92%
Under
United States
By -7.82%
Fund
28.73%
Benchmark*
36.55%
Data as of 31-May-2021
Data as of 31-May-2021
Indicative Benchmark: FTSE World Government Bond Index Hedged USD

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

Currency
Total
Currencies
10
Largest
U.S. dollar
92.35%
Was ( 30-Apr-2021 )
86.46%

Over
U.S. dollar
By 55.80%
Fund
92.35%
Benchmark*
36.55%
Under
euro
By -33.15%
Fund
1.02%
Benchmark*
34.17%
Data as of 31-May-2021
Indicative Benchmark: FTSE World Government Bond Index Hedged USD

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


Team
Arif Husain,
Head of International Fixed Income
Arif Husain is head of International Fixed Income at T. Rowe Price. He is lead portfolio manager for the Dynamic Global and Global Aggregate Bond Strategies.
Head of International Fixed Income since
2019
Years at
T. Rowe Price
7
Years investment experience
24
Quentin Fitzsimmons,
Portfolio Manager
Quentin Fitzsimmons is a senior portfolio manager in the Fixed Income division and a member of the Global Fixed Income investment team. He is co-portfolio manager of the Dynamic Global Bond and Global Aggregate Bond strategies.
Portfolio Manager since
2019
Years at T. Rowe Price
5
Years investment experience
29
Stephane Fertat,
Portfolio Specialist
Stephane Fertat is a fixed income portfolio specialist. He is a member of the Global Fixed Income team, supporting all global/international fixed income strategies.
Years at
T. Rowe Price
13
Years investment experience
23
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% 50 basis points 1.02%
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%

Indicative Benchmark Data Source: FTSE

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.

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.