SICAV
Global Investment Grade Corporate Bond Fund
A high conviction portfolio of around 75-150 of the best global corporate bond ideas generated by our global research platform. We invest primarily in a diversified portfolio of investment-grade corporate bonds from issuers around the world, including emerging markets.
ISIN LU1216623295
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FACTSHEET
KIID
FUND PROFILE
COMMENTARY

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Average
Coupon
3.63%
Data as of: 29-Feb-2020
Average
Maturity
7.90 yrs
Data as of: 29-Feb-2020
Average
Duration
7.15 yrs
Data as of: 29-Feb-2020
Fund Size
(USD)
$50.1m
Data as of: 29-Feb-2020
Perf Chg
(Daily)
0.09%
Data as of: 31-Mar-2020
Since
Inception
6.00%
Data as of: 29-Feb-2020
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 31-Mar-2020
NAV
(USD)
$11.73
Data as of: 31-Mar-2020
1 YR Return
(Annualised)
13.14%
Data as of: 29-Feb-2020

Overview
Strategy
Fund Summary
In constructing the portfolio, we seek to balance high-conviction positions with sensitivity to sovereign and liquidity risk. A proprietary, independent credit rating is assigned to all issuers and securities. We carry out a deep analysis of each issuer’s market share, management team quality, and financial strength.
LIMITED
MODERATE
EXTENSIVE

171
Holdings

Average
Quality
BBB
Risk & Reward Data
Information Ratio
0.13
Sharpe Ratio
1.44
Historical Tracking Error
1.12%
Performance - Net of Fees
Current Year Performance
MTD
-10.93%
Benchmark*
-6.77%
Excess Return

-4.16%
QTD
-8.43%
Benchmark*
-4.06%
Excess Return

-4.37%
YTD
-8.43%
Benchmark*
-4.06%
Excess Return

-4.37%
Data as of 31-Mar-2020
1 Month
0.69%
Benchmark*
0.82%
Excess Return

-0.13%
3 Months
3.38%
Benchmark*
3.17%
Excess Return

0.21%
Data as of 29-Feb-2020
 
Annualised Performance
1 YR
13.14%
Benchmark*
13.07%
Excess Return

0.07%
3 YR
6.28%
Benchmark*
6.14%
Excess Return

0.14%
5 YR
N/A
Benchmark*
N/A
Excess Return

N/A
Inception
6.00%
Benchmark*
5.53%
Excess Return

0.47%
Manager Inception
6.00%
Benchmark*
5.53%
Excess Return

0.47%
Data as of 29-Feb-2020
Indicative Benchmark : Bloomberg Barclays Global Aggregate Corporates Bond USD Hedged Index
Fund Inception: 08-Jun-2015
Manager Inception: 08-Jun-2015

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

Holdings
Total
Holdings
171
Top 10
21.25%
Largest
HPHT Finance 19
1.75%
Was ( 30-Sep-2019 )
0.00%
Data as of 31-Dec-2019
Duration
Maturity
Quality
Average
7.15 yrs
Average
7.90 yrs
Average
BBB
Top
3-5 Years
32.65%
Was ( 31-Jan-2020 )
33.45%
Top
7-10 Years
29.49%
Was ( 31-Jan-2020 )
25.96%
Top
BBB
54.17%
Was ( 31-Jan-2020 )
55.64%
Over
3-5 Years
By 10.18%
Fund
32.65%
Benchmark*
22.47%
Over
7-10 Years
By 13.24%
Fund
29.49%
Benchmark*
16.25%
Over
BB
By 10.24%
Fund
12.70%
Benchmark*
2.46%
Under
Over 10 Years
By -16.02%
Fund
8.20%
Benchmark*
24.22%
Under
1-3 Years
By -14.74%
Fund
6.27%
Benchmark*
21.01%
Under
A
By -9.77%
Fund
27.53%
Benchmark*
37.30%
Regions
Data as of
Countries
Total
Countries
30
Largest
United States
52.36%
Was ( 31-Jan-2020 )
52.67%
Over
China
By 7.31%
Fund
8.42%
Benchmark*
1.11%
Under
France
By -5.93%
Fund
0.67%
Benchmark*
6.59%
Data as of 29-Feb-2020
Data as of 29-Feb-2020
Indicative Benchmark: Bloomberg Barclays Global Aggregate Corporates Bond USD Hedged Index

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

Currency
Total
Currencies
5
Largest
U.S. dollar
99.97%
Was ( 31-Jan-2020 )
99.98%

Over
U.S. dollar
By 33.65%
Fund
99.97%
Benchmark*
66.32%
Under
euro
By -23.73%
Fund
-0.27%
Benchmark*
23.46%
Data as of 29-Feb-2020
Indicative Benchmark: Bloomberg Barclays Global Aggregate Corporates Bond USD Hedged Index

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


Team
Steven Boothe,
Portfolio Manager
Steve Boothe is lead portfolio manager of the Global Investment Grade Corporate Bond strategy and co-portfolio manager of the US Investment Grade Corporate Bond strategy.
Portfolio Manager since
2015
Years at T. Rowe Price
19
Years investment experience
21
Stephen Marsh,
Fixed Income Portfolio Specialist
Stephen Marsh is a portfolio specialist in the Fixed Income Division, based in London.
Years at T. Rowe Price
4
Years investment experience
18
How to Invest
Fees Minimum Initial Investment and Holding Amount Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1

Indicative Benchmark Data Source: Bloomberg Index Services Limited.

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. Past performance is not a reliable indicator of future performance.

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.

Daily performance data is based on the latest available NAV.  

Please note that the Fund typically has a risk of high volatility.

Hedged share classes (denoted by 'h') utilise investment techniques to mitigate currency risk between the underlying investment currency(ies) of the fund and the currency of the hedged share class.  The costs of doing so will be borne by the share class and there is no guarantee that such hedging will be effective.

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.