- Employing a flexible asset allocation approach, the Fund is actively managed and invests mainly in a diversified portfolio of income generating equities, bonds and money market securities, from issuers around the world, including emerging markets.
- Investment in the Fund involves risks, including general investment risk, risks relating to dynamic asset allocation strategy, equity market risk, small and mid-capitalisation shares risk, risks associated with depositary receipts, emerging markets risk, exclusion criteria risk, risk associated with high volatility of equity markets in emerging countries, risk associated with regulatory/exchanges requirements of the equity markets in emerging countries, currency risk and Renminbi (RMB) currency and conversion risks which may result in loss of a part or the entire amount of your investment.
- The investment in debt securities is also subject to credit/counterparty risk, interest rate risk, downgrading risk, credit rating risk, risk associated with high yield debt securities which are generally rated below investment grade or unrated, volatility/liquidity risk in emerging markets, sovereign debt risk, risk associated with investments in debt instruments with loss absorption features and valuation risk.
- The Fund may use derivatives for hedging, efficient portfolio management and investment purposes or to create synthetic short positions in currencies, debt securities and credit indices and equities, and is subject to derivatives risk. Exposure to derivatives may also lead to a risk of significant loss to the Fund.
- Dividend of certain share class(es) may be paid directly out of capital and/or effectively out of the capital which amounts to a return or withdrawal of part of an investor s original investment or from any capital gains attributable to that original investment. Any such distribution may result in an immediate reduction of net asset value per share (Note 1).
- Investments in share class(es) with fixed annual percentage rate are not an alternative to a savings account or fixed interest paying investment. The fixed annual percentage rate is not guaranteed. The percentage of distributions paid is unrelated to the actual or expected income or returns of these share classes or the Fund. Distribution will continue even the Fund has negative returns, which further reduces the net asset value. A positive distribution yield does not imply a high or positive return.
- The value of the Fund can be volatile and could go down substantially.
- Investors should not invest in the Fund solely based on this website.
Multi-Asset Global Income Fund
Build a portfolio of distinctive income potential
Key features
Potential for consistent and high income
- Class A8p (HKD) aims to pay dividends on a monthly basis
- Annualised dividend yield: 7.92%1 (Dividends are not guaranteed and may be paid out of capital. Please refer to note 1 of “Risk Considerations”)
- Other currencies available: USD, AUD (hedged), CNH (hedged)
Opportunistic alternative income
- Allocation to alternative income through listed private credit, aims to improve yield, diversification, and total return potential while striving to minimize any significant increase in volatility or drawdown
Downside risk management
- The Fund actively manages dynamic asset allocation to adapt to market conditions, with a focus on drawdown
- It also aims to maintain an average credit quality at investment-grade level under most market conditions
Cast a wider net
Invests globally to pursue higher quality and enhanced diversification:
- The equity allocation aiming to capitalize on market broadening beyond the US and technology sector
- The multi-sector fixed income allocation focusing on high quality, consistent income
1 As of 30 May 2025. Annualised Dividend Yield (%) = (Dividend per share / Ex- Dividend Date NAV) x 12 x 100. Positive dividend yield does not imply positive return. For more dividend information, please refer to the Composition of Dividend Payments document on the fund page of our website.
Fund at a glance
Multi-Asset Global Income Fund
Employing a flexible asset allocation approach, the Fund is actively managed and invests mainly in a diversified portfolio of income generating equities, bonds and money market securities, from issuers around the world, including emerging markets.
| Inception date | 12 February 2020 |
| Base currency | USD |
| Annual management fee* | Up to 1.20% (Class A(USD)) |
| ISIN code | Class A (USD): LU2047632596 Class Ax (USD): LU2100268510 Class A8p (USD): LU3052042341 Class A8p (HKD): LU3052042424 Class A8pn (AUD): LU3052042697 Class A8pn (CNH): LU3052042770 |
| Bloomberg code | Class A (USD): TMGIAUA LX Class Ax (USD): TRMGIAU LX Class A8p (USD): TRMGA8P LX Class A8p (HKD): TRMGAPH LX Class A8pn (AUD): TRMGAAU LX Class A8pn (CNH): TRPMGAC LX |
| Benchmark^ | Custom Benchmark |
Documents
More about this fund
* Full details of the fees payable by investors are available within the offering document.
^ Effective 1 October 2022, the benchmark for the Fund changed to 50% Bloomberg Global Aggregate (USD Hedged) and 50% Equity MSCI All Country World Net Index. Prior to this change, the benchmark was 60% Bloomberg Global Aggregate (USD Hedged) and 40% Equity MSCI All Country World Net Index. This benchmark is shown for comparison purposes only.
Why T. Rowe Price for multi-asset?
Opportunities aren’t limited to just one asset class
We have over 35 years of experience creating effective cross asset class solutions. Our multi-asset expertise integrates the core strength of our firm - a collaborative investment culture with robust fundamental and quantitative capabilities into solutions designed to meet client objectives.
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Important Information
Unless otherwise stated, all data is sourced from T. Rowe Price. Certain numbers in this website may not add due to rounding and/or the exclusion of cash.
This website is being furnished for general informational purposes only. The website does not constitute or undertake to give advice of any nature, including fiduciary investment advice. Prospective investors are recommended to seek independent legal, financial and tax advice before making any investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc. and/or its affiliates receive revenue from T. Rowe Price investment products and services. Past performance is not a reliable indicator of future performance. 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.
The website does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The website has not been reviewed by any regulatory authority in any jurisdiction.
Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources’ accuracy or completeness. There is no guarantee that any forecasts made will come to pass.
Investment involves risks. Investors should refer to the offering documents for full details including the objectives, investment policies and risks factors.
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