Unlocking the potential of corporate debt
The global credit markets offer income opportunities for investors with a wide spectrum of risk tolerances. In a world of low yields and volatile equity markets, corporate bonds can play a useful role in investors' portfolios. At T. Rowe Price, we have been managing active credit strategies for more than 30 years. Discover our latest thinking.
There is significant divergence across global fixed income markets and global credit cycles are increasingly unsynchronised. This fund seeks to use credit selection capabilities to find value. This includes analysis of factors such as credit statistics, free cash flow generation, security structure and quality of management team. The manager is not constrained by the funds benchmark, which is used for performance comparison purposes only. View More...
We take a highly active approach that is largely benchmark-agnostic. We apply intensive, local bottom-up analysis to identify pricing inefficiencies and avoid risks others might not be able to spot. We aim to identify credit rating upgrade candidates, offering an attractive spread relative to similarly rated peers. View More...
Our approach is to use an independent, fundamental, bottom-up credit selection process, combined with forward-looking research to identify potential total return ideas. We have the flexibility to search across the full capital structure to uncover high-conviction ideas and access smaller, under-researched credit issuers. The manager is not constrained by the funds benchmark, which is used for performance comparison purposes only. View More...