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FUND RANGE
Your route into fixed income markets
We offer a wide range of portfolios to meet clients’ needs, whether they want higher income, more diversification, or a safe pair of hands for their “sleep at night” allocation.
Emerging Local Markets Bond Fund
Taking the sovereign bond market risks that pay, managing those that don’t
At a glance
Fund launch date: August 2007
ISIN Class I: LU0310189781
Portfolio Managers: Andrew Keirle
Fund size*: USD 116.3 mm
(*As of 30/06/2022. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates.)
Explore the fund
The largest of the EM debt markets, local currency sovereign bonds offer diversification and a good combination of income and quality. We seek to harvest the attractive yields available, while carefully managing the potential sources of volatility.
For investors who want: income and diversification, and have a longer investment horizon.
Risks - The following risks are materially relevant to T. Rowe Price Funds SICAV - Emerging Local Markets Bond Fund (refer to prospectus for further details): Contingent convertible bond risk - contingent convertible bonds have similar characteristics to convertible bonds with the main exception that their conversion is subject to predetermined conditions referred to as trigger events usually set to capital ratio and which vary from one issue to the other. Counterparty risk, Country risk (China and Ukraine) – in these countries, risks associated with custody, counterparties and market volatility are higher than in developed countries. Credit risk – a bond or money market security could lose value if the issuer’s financial health deteriorates. Currency risk - changes in currency exchange rates could reduce investment gains or increase investment losses, Default risk – the issuers of certain bonds could become unable to make payments on their bonds. Derivatives risk - derivatives may result in losses that are significantly greater than the cost of the derivative. Emerging markets risk – emerging markets are less established than developed markets and therefore involve higher risks. ESG and Sustainability risk - ESG and Sustainability risk may result in a material negative impact on the value of an investment and performance of the fund. Frontier markets risk – small market nations that are at an earlier stage of economic and political development relative to more mature emerging markets typically have limited investability and liquidity. Geographic concentration risk, Hedging risk, High Yield Bond risk - a bond or debt security rated below BBB- by Standard & Poor’s or an equivalent rating, also termed ‘below investment grade’, is generally subject to higher yields but to greater risks too. Interest rate risk, Investment fund risk. Issuer concentration risk – to the extent that a fund invests a large portion of its assets in securities from a relatively small number of issuers, its performance will be more strongly affected by events affecting those issuers. Liquidity risk - any security could become hard to value or to sell at a desired time and price, Management risk - Management risk may result in potential conflicts of interest relating to the obligations of the investment manager. Market risk - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Operational risk - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes. Sector concentration risk – the performance of a fund that invests a large portion of its assets in a particular economic sector (or, for bond funds, a particular market segment), will be more strongly affected by events affecting that sector or segment of the fixed income market. Total return swap risk - Total return swap contracts may expose the fund to additional risks, including market, counterparty and operational risks as well as risks linked to the use of collateral arrangements.
Responsible Emerging Markets Corporate Bond Fund
Applying deep emerging markets expertise to an under-researched asset class
At a glance
Fund launch date: June 2010
ISIN Class I: LU0596126465
Portfolio Managers: Samy Muaddi, Siby Thomas
Fund size*: USD 190bn
(*As of 30/06/2022. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates.)
Explore the fund
Emerging markets corporate debt is a fast-growing but relatively under-owned and under-researched market. We seek to capture diverse sources of genuine excess return, rather than just chasing yield or having excessive portfolio concentration.
For investors who want: to tap into the diverse global emerging market corporate opportunity.
Risks – The following risks are materially relevant to the T. Rowe Price Funds SICAV: China Interbank Bond Market risk - The China Interbank Bond Market may subject the fund to additional liquidity, volatility, regulatory, settlement procedure and counterparty risks. The fund may incur significant trading and realisation costs. Contingent convertible bond risk - Contingent Convertible Bonds may be subject to additional risks linked to: capital structure inversion, trigger levels, coupon cancellations, call extensions, yield/valuation, conversions, write downs, industry concentration and liquidity, among others. Counterparty risk - Counterparty risk may materialise if an entity with which the fund does business becomes unwilling or unable to meet its obligations to the fund. Country risk (China) - Chinese investments may be subject to higher levels of risks such as liquidity, currency, regulatory and legal risks due to the structure of the local market. Credit risk - Credit risk arises when an issuer's financial health deteriorates and/or it fails to fulfill its financial obligations to the fund. Default risk - Default risk may occur if the issuers of certain bonds become unable or unwilling to make payments on their bonds. Derivatives risk - Derivatives may be used to create leverage which could expose the fund to higher volatility and/or losses that are significantly greater than the cost of the derivative. Emerging markets risk - Emerging markets are less established than developed markets and therefore involve higher risks. ESG and Sustainability risk - ESG and Sustainability risk may result in a material negative impact on the value of an investment and performance of the fund. Frontier markets risk - Frontier markets are less mature than emerging markets and typically have higher risks, including limited investability and liquidity. Geographic concentration risk - Geographic concentration risk may result in performance being more strongly affected by any social, political, economic, environmental or market conditions affecting those countries or regions in which the fund's assets are concentrated. Hedging risk - Hedging measures involve costs and may work imperfectly, may not be feasible at times, or may fail completely. High Yield Bond risk - High yield debt securities are generally subject to greater risk of issuer debt restructuring or default, higher liquidity risk and greater sensitivity to market conditions. Interest rate risk - Interest rate risk is the potential for losses in fixed-income investments as a result of unexpected changes in interest rates. Investment fund risk - Investing in funds involves certain risks an investor would not face if investing in markets directly. Liquidity risk - Liquidity risk may result in securities becoming hard to value or trade within a desired timeframe at a fair price. Management risk - Management risk may result in potential conflicts of interest relating to the obligations of the investment manager. Market risk - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Operational risk - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes. Sector concentration risk - Sector concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting a particular sector in which the fund's assets are concentrated. Total return swap risk - Total return swap contracts may expose the fund to additional risks, including market, counterparty and operational risks as well as risks linked to the use of collateral arrangements.
Responsible Asia Credit Bond Fund
Seeking the best opportunities across the high-growth Asian credit market
At a glance
Fund launch date: April 2018
ISIN Class I: LU1697875810
Portfolio Managers: Sheldon Chan
Fund size*: USD 51.6 mm
(*As of 30/06/2022. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates.)
Explore the fund
The Asian hard currency bond market is diverse and fast growing, with high proportion of investment-grade issuers. We seek to identify evolving, long-term opportunities and take advantage of pricing anomalies and market dislocations.
For investors who want: higher-quality exposure to the potential of emerging markets credit.
Risks – The following risks are materially relevant to the T. Rowe Price Funds SICAV: China Interbank Bond Market risk - The China Interbank Bond Market may subject the fund to additional liquidity, volatility, regulatory, settlement procedure and counterparty risks. The fund may incur significant trading and realisation costs. Contingent convertible bond risk - Contingent Convertible Bonds may be subject to additional risks linked to: capital structure inversion, trigger levels, coupon cancellations, call extensions, yield/valuation, conversions, write downs, industry concentration and liquidity, among others. Counterparty risk - Counterparty risk may materialise if an entity with which the fund does business becomes unwilling or unable to meet its obligations to the fund. Country risk (China) - Chinese investments may be subject to higher levels of risks such as liquidity, currency, regulatory and legal risks due to the structure of the local market. Credit risk - Credit risk arises when an issuer's financial health deteriorates and/or it fails to fulfill its financial obligations to the fund. Currency risk - Currency exchange rate movements could reduce investment gains or increase investment losses. Default risk - Default risk may occur if the issuers of certain bonds become unable or unwilling to make payments on their bonds. Emerging markets risk - Emerging markets are less established than developed markets and therefore involve higher risks. ESG and Sustainability risk - ESG and Sustainability risk may result in a material negative impact on the value of an investment and performance of the fund. Frontier markets risk - Frontier markets are less mature than emerging markets and typically have higher risks, including limited investability and liquidity. Geographic concentration risk - Geographic concentration risk may result in performance being more strongly affected by any social, political, economic, environmental or market conditions affecting those countries or regions in which the fund's assets are concentrated. Hedging risk - Hedging measures involve costs and may work imperfectly, may not be feasible at times, or may fail completely. High Yield Bond risk - High yield debt securities are generally subject to greater risk of issuer debt restructuring or default, higher liquidity risk and greater sensitivity to market conditions. Interest rate risk - Interest rate risk is the potential for losses in fixed-income investments as a result of unexpected changes in interest rates. Investment fund risk - Investing in funds involves certain risks an investor would not face if investing in markets directly. Issuer concentration risk - Issuer concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting those issuers in which the fund's assets are concentrated. Liquidity risk - Liquidity risk may result in securities becoming hard to value or trade within a desired timeframe at a fair price. Management risk - Management risk may result in potential conflicts of interest relating to the obligations of the investment manager. Market risk - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Operational risk - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes. Sector concentration risk - Sector concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting a particular sector in which the fund's assets are concentrated. Total return swap risk - Total return swap contracts may expose the fund to additional risks, including market, counterparty and operational risks as well as risks linked to the use of collateral arrangements.
Global High Income Bond Fund
A high-conviction, active approach to a truly global bond opportunity set
At a glance
Fund launch date: 31 January 2015
ISIN Class I: LU1216622644
Portfolio Managers: Mike della Vedova
Fund size*: USD 429.7 bn
(*As of 30/06/2022. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates.)
Explore the fund
Carefully blending together the highest-conviction ideas of our experts across North America, Europe and the emerging markets, we aim to harness multiple sources of return, seeking to deliver income, capital growth and diversification.
For investors who want: to spread the net as wide as possible for income opportunities.
Risks – The following risks are materially relevant to the T. Rowe Price Funds SICAV: China Interbank Bond Market risk - The China Interbank Bond Market may subject the fund to additional liquidity, volatility, regulatory, settlement procedure and counterparty risks. The fund may incur significant trading and realisation costs. Contingent convertible bond risk - Contingent Convertible Bonds may be subject to additional risks linked to: capital structure inversion, trigger levels, coupon cancellations, call extensions, yield/valuation, conversions, write downs, industry concentration and liquidity, among others. Counterparty risk - Counterparty risk may materialise if an entity with which the fund does business becomes unwilling or unable to meet its obligations to the fund. Country risk (China) - Chinese investments may be subject to higher levels of risks such as liquidity, currency, regulatory and legal risks due to the structure of the local market. Credit risk - Credit risk arises when an issuer's financial health deteriorates and/or it fails to fulfill its financial obligations to the fund. Currency risk - Currency exchange rate movements could reduce investment gains or increase investment losses. Default risk - Default risk may occur if the issuers of certain bonds become unable or unwilling to make payments on their bonds. Emerging markets risk - Emerging markets are less established than developed markets and therefore involve higher risks. ESG and Sustainability risk - ESG and Sustainability risk may result in a material negative impact on the value of an investment and performance of the fund. Frontier markets risk - Frontier markets are less mature than emerging markets and typically have higher risks, including limited investability and liquidity. Geographic concentration risk - Geographic concentration risk may result in performance being more strongly affected by any social, political, economic, environmental or market conditions affecting those countries or regions in which the fund's assets are concentrated. Hedging risk - Hedging measures involve costs and may work imperfectly, may not be feasible at times, or may fail completely. High Yield Bond risk - High yield debt securities are generally subject to greater risk of issuer debt restructuring or default, higher liquidity risk and greater sensitivity to market conditions. Interest rate risk - Interest rate risk is the potential for losses in fixed-income investments as a result of unexpected changes in interest rates. Investment fund risk - Investing in funds involves certain risks an investor would not face if investing in markets directly. Issuer concentration risk - Issuer concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting those issuers in which the fund's assets are concentrated. Liquidity risk - Liquidity risk may result in securities becoming hard to value or trade within a desired timeframe at a fair price. Management risk - Management risk may result in potential conflicts of interest relating to the obligations of the investment manager. Market risk - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Operational risk - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes. Sector concentration risk - Sector concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting a particular sector in which the fund's assets are concentrated. Total return swap risk - Total return swap contracts may expose the fund to additional risks, including market, counterparty and operational risks as well as risks linked to the use of collateral arrangements.
US High Yield Bond Fund
An active approach to the world’s largest and oldest high-yield bond market
At a glance
Fund launch date: April 2013
ISIN Class I: LU1697877279
Portfolio Managers: Kevin Loome, CFA
Fund size*: USD 187.6 bn
(*As of 30/06/2022. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates.)
Explore the fund
With around 1,000 primarily domestically focused companies, US high yield offers exposure to the grass roots of the US economy. Our concentrated, flexible approach seeks to capitalize on attractive relative value opportunities across issuers.
For investors who want: exposure to the grass roots of the US economy
Risks – The following risks are materially relevant to the T. Rowe Price Funds SICAV: Counterparty risk - The China Interbank Bond Market may subject the fund to additional liquidity, volatility, regulatory, settlement procedure and counterparty risks. The fund may incur significant trading and realisation costs. Credit risk - Credit risk arises when an issuer's financial health deteriorates and/or it fails to fulfill its financial obligations to the fund. Currency risk - Currency exchange rate movements could reduce investment gains or increase investment losses. Default risk - Default risk may occur if the issuers of certain bonds become unable or unwilling to make payments on their bonds. Derivatives risk - Derivatives may be used to create leverage which could expose the fund to higher volatility and/or losses that are significantly greater than the cost of the derivative. ESG and Sustainability risk - ESG and Sustainability risk may result in a material negative impact on the value of an investment and performance of the fund. Geographic concentration risk - Geographic concentration risk may result in performance being more strongly affected by any social, political, economic, environmental or market conditions affecting those countries or regions in which the fund's assets are concentrated. Hedging risk - Hedging measures involve costs and may work imperfectly, may not be feasible at times, or may fail completely. High Yield Bond risk - High yield debt securities are generally subject to greater risk of issuer debt restructuring or default, higher liquidity risk and greater sensitivity to market conditions. Interest rate risk - Interest rate risk is the potential for losses in fixed-income investments as a result of unexpected changes in interest rates. Investment fund risk - Investing in funds involves certain risks an investor would not face if investing in markets directly., Liquidity risk - Liquidity risk may result in securities becoming hard to value or trade within a desired timeframe at a fair price. Management risk - Management risk may result in potential conflicts of interest relating to the obligations of the investment manager. Market risk - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors.,Operational risk - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes. Sector concentration risk - Sector concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting a particular sector in which the fund's assets are concentrated. Total return swap risk - Total return swap contracts may expose the fund to additional risks, including market, counterparty and operational risks as well as risks linked to the use of collateral arrangements.
Responsible Global Aggregate Bond Fund
A world of fixed income opportunities – in one carefully selected portfolio
At a glance
Fund launch date: July 2001
ISIN Class I: LU0133095660
Portfolio Managers: Arif Husain, Quentin Fitzsimmons
Fund size*: USD 610.5 mm
(*As of 30/06/2022. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates.)
Explore the fund
With more than 26,000 issues, the global investment-grade bond universe offers a wealth of opportunity. We seek to offer the best of the global aggregate universe in a carefully selected, actively managed portfolio of 500 to 600 issues.
For investors who want: a selective approach to the global investment-grade universe.
Risks – The following risks are materially relevant to the T. Rowe Price Funds SICAV: Counterparty risk - Counterparty risk may materialise if an entity with which the fund does business becomes unwilling or unable to meet its obligations to the fund. ABS/MBS risk - Asset-Backed Securities (ABS) and Mortgage-Backed Securities (MBS) may be subject to greater liquidity, credit, default and interest rate risk compared to other bonds. They are often exposed to extension and prepayment risk. Contingent convertible bond risk - Contingent Convertible Bonds may be subject to additional risks linked to: capital structure inversion, trigger levels, coupon cancellations, call extensions, yield/valuation, conversions, write downs, industry concentration and liquidity, among others. ESG and Sustainability risk - ESG and Sustainability risk may result in a material negative impact on the value of an investment and performance of the fund. Credit risk - Credit risk arises when an issuer's financial health deteriorates and/or it fails to fulfill its financial obligations to the fund. Currency risk - Currency exchange rate movements could reduce investment gains or increase investment losses. Default risk - Default risk may occur if the issuers of certain bonds become unable or unwilling to make payments on their bonds. Derivatives risk - Derivatives may be used to create leverage which could expose the fund to higher volatility and/or losses that are significantly greater than the cost of the derivative. Emerging Markets risk - Emerging markets are less established than developed markets and therefore involve higher risks. Geographic concentration risk - Geographic concentration risk may result in performance being more strongly affected by any social, political, economic, environmental or market conditions affecting those countries or regions in which the fund's assets are concentrated. Hedging risk - Hedging measures involve costs and may work imperfectly, may not be feasible at times, or may fail completely. Interest rate risk - Interest rate risk is the potential for losses in fixed-income investments as a result of unexpected changes in interest rates. Investment fund risk - Investing in funds involves certain risks an investor would not face if investing in markets directly. Issuer concentration risk - Issuer concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting those issuers in which the fund's assets are concentrated. Liquidity risk - Liquidity risk may result in securities becoming hard to value or trade within a desired timeframe at a fair price. Management risk - Management risk may result in potential conflicts of interest relating to the obligations of the investment manager. Market risk - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Operational risk - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes. Prepayment and extension risk - Mortgage- and asset-backed securities could increase the fund's sensitivity to unexpected changes in interest rates. Sector concentration risk - Sector concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting a particular sector in which the fund's assets are concentrated.
Responsible Euro Corporate Bond Fund
Exploiting euro-denominated bond market inefficiencies via active management
At a glance
Fund launch date: June 2001
ISIN Class I: LU0133091248
Portfolio Managers: David Stanley
Fund size*: USD 231.6 mm
(*As of 30/06/2022. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates.)
Explore the fund
Euro-denominated corporate bonds are one of the deepest and most liquid segments of the global investment-grade corporate bond market. We seek to exploit inefficiencies in this market to deliver a combination of income and capital growth.
For investors who want: more return than Bunds but less volatility than euro high yield.
Risks – The following risks are materially relevant to the T. Rowe Price Funds SICAV: Counterparty risk - Counterparty risk may materialise if an entity with which the fund does business becomes unwilling or unable to meet its obligations to the fund. Credit risk - Credit risk arises when an issuer's financial health deteriorates and/or it fails to fulfill its financial obligations to the fund. Currency risk - Currency exchange rate movements could reduce investment gains or increase investment losses. Default risk - Default risk may occur if the issuers of certain bonds become unable or unwilling to make payments on their bonds. Derivatives risk - Derivatives may be used to create leverage which could expose the fund to higher volatility and/or losses that are significantly greater than the cost of the derivative. Emerging Markets risk - Emerging markets are less established than developed markets and therefore involve higher risks. ESG and Sustainability risk - ESG and Sustainability risk may result in a material negative impact on the value of an investment and performance of the fund. Geographic concentration risk - Geographic concentration risk may result in performance being more strongly affected by any social, political, economic, environmental or market conditions affecting those countries or regions in which the fund's assets are concentrated. Hedging risk - Hedging measures involve costs and may work imperfectly, may not be feasible at times, or may fail completely. Interest rate risk - Interest rate risk is the potential for losses in fixed-income investments as a result of unexpected changes in interest rates, Investment fund risk - Investing in funds involves certain risks an investor would not face if investing in markets directly. Liquidity risk - Liquidity risk may result in securities becoming hard to value or trade within a desired timeframe at a fair price. Management risk - Management risk may result in potential conflicts of interest relating to the obligations of the investment manager. Market risk - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Operational risk - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes. Sector concentration risk - Sector concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting a particular sector in which the fund's assets are concentrated. Total return swap risk - Total return swap contracts may expose the fund to additional risks, including market, counterparty and operational risks as well as risks linked to the use of collateral arrangements.
Responsible European High Yield Bond Fund
A world of fixed income opportunities – in one carefully selected portfolio
At a glance
Fund launch date: September 2001
ISIN Class I: LU0133095660
Portfolio Managers: Mike Della Vedova
Fund size*: USD 150.2 mm
(*As of 30/06/2022. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates.)
Explore the fund
With more than 26,000 issues, the global investment-grade bond universe offers a wealth of opportunity. We seek to offer the best of the global aggregate universe in a carefully selected, actively managed portfolio of 500 to 600 issues.
For investors who want: a selective approach to the global investment-grade universe.
Risks – The following risks are materially relevant to the T. Rowe Price Funds SICAV: Counterparty risk - Counterparty risk may materialise if an entity with which the fund does business becomes unwilling or unable to meet its obligations to the fund. ESG and Sustainability risk - ESG and Sustainability risk may result in a material negative impact on the value of an investment and performance of the fund. High Yield bond risk - High yield debt securities are generally subject to greater risk of issuer debt restructuring or default, higher liquidity risk and greater sensitivity to market conditions. Credit risk - Credit risk arises when an issuer's financial health deteriorates and/or it fails to fulfill its financial obligations to the fund. Default risk - Default risk may occur if the issuers of certain bonds become unable or unwilling to make payments on their bonds. Derivatives risk - Derivatives may be used to create leverage which could expose the fund to higher volatility and/or losses that are significantly greater than the cost of the derivative. Emerging Markets risk - Emerging markets are less established than developed markets and therefore involve higher risks. Geographic concentration risk - Geographic concentration risk may result in performance being more strongly affected by any social, political, economic, environmental or market conditions affecting those countries or regions in which the fund's assets are concentrated. Hedging risk - Hedging measures involve costs and may work imperfectly, may not be feasible at times, or may fail completely. Interest rate risk - Interest rate risk is the potential for losses in fixed-income investments as a result of unexpected changes in interest rates. Investment fund risk - Investing in funds involves certain risks an investor would not face if investing in markets directly. Liquidity risk - Liquidity risk may result in securities becoming hard to value or trade within a desired timeframe at a fair price. Management risk - Management risk may result in potential conflicts of interest relating to the obligations of the investment manager. Market risk - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Operational risk - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes.
Dynamic Credit Fund
Harnessing the credit expertise of our global research platform
At a glance
Fund launch date: December 2019
ISIN Class I: LU2047632240
Portfolio Managers: Saurabh Sud
Fund size*: USD 26.1 mm
(*As of 30/06/2022. Firmwide AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates.)
Explore the fund
Dynamic Credit seeks to help investors who are searching for yield and return but are conscious about adding undue credit beta and duration risk. This is a high conviction, flexible portfolio that seeks to identify and exploit pricing dislocations across a range of global credit markets.
For investors who want: to complement their equity or higher-return-seeking allocations with a potentially lower-volatility source of return.
Risks – The following risks are materially relevant to the T. Rowe Price Funds SICAV: Counterparty risk - Counterparty risk may materialise if an entity with which the fund does business becomes unwilling or unable to meet its obligations to the fund. ABS/MBS risk - Asset-Backed Securities (ABS) and Mortgage-Backed Securities (MBS) may be subject to greater liquidity, credit, default and interest rate risk compared to other bonds. They are often exposed to extension and prepayment risk. Contingent convertible bond risk - Contingent Convertible Bonds may be subject to additional risks linked to: capital structure inversion, trigger levels, coupon cancellations, call extensions, yield/valuation, conversions, write downs, industry concentration and liquidity, among others. ESG and Sustainability risk - ESG and Sustainability risk may result in a material negative impact on the value of an investment and performance of the fund. Credit risk - Credit risk arises when an issuer's financial health deteriorates and/or it fails to fulfill its financial obligations to the fund. Currency risk - Currency exchange rate movements could reduce investment gains or increase investment losses. Default risk - Default risk may occur if the issuers of certain bonds become unable or unwilling to make payments on their bonds., Derivatives risk. Emerging Markets risk - Emerging markets are less established than developed markets and therefore involve higher risks. Geographic concentration risk - Geographic concentration risk may result in performance being more strongly affected by any social, political, economic, environmental or market conditions affecting those countries or regions in which the fund's assets are concentrated. Hedging risk - Hedging measures involve costs and may work imperfectly, may not be feasible at times, or may fail completely. Interest rate risk - Interest rate risk is the potential for losses in fixed-income investments as a result of unexpected changes in interest rates. Investment fund risk - Investing in funds involves certain risks an investor would not face if investing in markets directly. Issuer concentration risk - Issuer concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting those issuers in which the fund's assets are concentrated. Liquidity risk - Liquidity risk may result in securities becoming hard to value or trade within a desired timeframe at a fair price. Management risk - Management risk may result in potential conflicts of interest relating to the obligations of the investment manager. Market risk - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors. Operational risk - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes. Prepayment and extension risk - Mortgage- and asset-backed securities could increase the fund's sensitivity to unexpected changes in interest rates. Sector concentration risk - Sector concentration risk may result in performance being more strongly affected by any business, industry, economic, financial or market conditions affecting a particular sector in which the fund's assets are concentrated.
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If you have questions or would like more information about T. Rowe Price please contact us.
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