Uncertain Times Call for a Dynamic Approach
I think we certainly live in uncertain times and the global liquidity blanket provided by the central banks that you mentioned, is absolutely critical in understanding the valuation in markets. So the ability to invest globally, the ability to be flexible around positioning. The ability to lever a very strong investment process, is exactly the way to exploit this very peculiar and extreme environment. Grading the opportunities in emerging market local government debt is absolutely at the heart of what we do and being able to compare opportunities between developed markets and developing markets is again, absolutely at the heart of what we do. The ability to have a global research process, which can check local government markets in exactly the same way as you would look at the qualities of the gilt market or the US treasury market, are key to building a balanced and comprehensive portfolio.
We think this product appeals to investors who are maybe looking at fixed income in a traditional way. They want diversification, they want capital stability, they want a high degree of liquidity and we think in this environment of ultra-low yields, divergent monetary policy having the flexibility offered by the global dynamic strategy ticks those boxes.
This material is being furnished for general informational purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, and 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 material 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 material 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. The views contained herein are as of the date noted on the material and are subject to change without notice; these views may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price.
The material is not intended for use by persons in jurisdictions which prohibit or restrict the distribution of the material and in certain countries the material is provided upon specific request.
It is not intended for distribution to retail investors in any jurisdiction.