SICAV
US Investment Grade Corporate Bond Fund
A diversified portfolio of around 75 to 175 investment-grade corporate bond holdings that are denominated in US dollars. We would expect security selection to account for a large proportion of value added. The fund seeks to deliver positive performance across different market environments.
ISIN LU1697876461
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FACTSHEET
KIID
Average
Coupon
3.61%
Data as of: 31-Aug-2020
Average
Maturity
10.51yrs
Data as of: 31-Aug-2020
Average
Duration
9.28 yrs
Data as of: 31-Aug-2020
Fund Size
(USD)
$15.5m
Data as of: 31-Aug-2020
Perf Chg
(Daily)
0.08%
Data as of: 21-Sep-2020
Since
Inception
8.43%
Data as of: 31-Aug-2020
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 31-Aug-2020
NAV
(USD)
$12.19
Data as of: 21-Sep-2020
1 YR Return
(Annualised)
5.86%
Data as of: 31-Aug-2020

Overview
Strategy
Fund Summary
Our experience in managing corporate bond investments suggests that identifying market inefficiencies requires fundamental research with an emphasis on issuer capital allocation policies. We believe that balancing high conviction investment ideas with a sensitivity to client risk targets leads to improved risk-adjusted performance.
LIMITED
MODERATE
EXTENSIVE

170
Holdings

Average
Quality
BBB+
Risk & Reward Data

Risk return statistics are not available until 3 years of data is available.
Performance - Net of Fees
Current Year Performance
MTD
0.74%
Benchmark*
0.31%
Excess Return

0.43%
QTD
2.27%
Benchmark*
2.14%
Excess Return

0.13%
YTD
5.54%
Benchmark*
7.27%
Excess Return

-1.73%
Data as of 21-Sep-2020
1 Month
-1.39%
Benchmark*
-1.38%
Excess Return

-0.01%
3 Months
4.58%
Benchmark*
3.82%
Excess Return

0.76%
Data as of 31-Aug-2020
 
Annualised Performance
1 YR
5.86%
Benchmark*
7.50%
Excess Return

-1.64%
3 YR
N/A
Benchmark*
N/A
Excess Return

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

N/A
Inception
8.43%
Benchmark*
9.38%
Excess Return

-0.95%
Manager Inception
8.43%
Benchmark*
9.38%
Excess Return

-0.95%
Data as of 31-Aug-2020
Indicative Benchmark : Bloomberg Barclays U.S. Corporate Investment Grade Bond Index
Fund Inception: 23-Apr-2018
Manager Inception: 23-Apr-2018

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

Holdings
Total
Holdings
170
Top 10
21.55%
Largest
Goldman Sachs
2.19%
Was ( 31-Mar-2020 )
2.51%
Data as of 30-Jun-2020
Duration
Maturity
Quality
Average
9.28 yrs
Average
10.51yrs
Average
BBB+
Top
3-5 Years
23.04%
Was ( 31-Jul-2020 )
20.62%
Top
10+ Years
33.65%
Was ( 31-Jul-2020 )
35.98%
Top
BBB
51.72%
Was ( 31-Jul-2020 )
48.60%
Over
5-7 Years
By 6.89%
Fund
22.49%
Benchmark*
15.60%
Over
3-5 Years
By 5.41%
Fund
21.66%
Benchmark*
16.25%
Over
BB
By 5.69%
Fund
7.66%
Benchmark*
1.98%
Under
Over 10 Years
By -13.38%
Fund
21.97%
Benchmark*
35.35%
Under
1-3 Years
By -9.98%
Fund
5.93%
Benchmark*
15.91%
Under
A
By -8.96%
Fund
32.16%
Benchmark*
41.12%
Sectors
Total
Sectors
22
Largest
Banking
23.02%
Was ( 31-Jul-2020 )
23.63%
Over
Non Corporate
By 8.56%
Fund
8.56%
Benchmark*
0.00%
Under
Technology
By -7.09%
Fund
1.82%
Benchmark*
8.91%
Data as of 31-Aug-2020
Data as of 31-Aug-2020
Indicative Benchmark: Bloomberg Barclays U.S. Corporate Investment Grade Bond Index

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

Regions
Data as of
Countries
Total
Countries
17
Largest
United States
69.22%
Was ( 31-Jul-2020 )
69.14%
Over
Qatar
By 3.17%
Fund
3.17%
Benchmark*
0.00%
Under
United States
By -15.06%
Fund
69.22%
Benchmark*
84.29%
Data as of 31-Aug-2020
Data as of 31-Aug-2020
Indicative Benchmark: Bloomberg Barclays U.S. Corporate Investment Grade Bond Index

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


Team
Steven Boothe,
Portfolio Manager
Steve Boothe is a portfolio manager in the Fixed Income Division at T. Rowe Price. Mr. Boothe has lead portfolio management responsibilities for the Global Investment Grade and U.S. Investment Grade Corporate Bond Strategies.
Portfolio Manager since
2018
Years at T. Rowe Price
20
Years investment experience
22
Lauren Wagandt,
Portfolio Manager
Lauren Wagandt is a portfolio manager in the Fixed Income division. She is an executive vice president and cochair of the Investment Advisory Committee of the Corporate Income Fund and has portfolio management responsibilities.
Portfolio Manager since
2018
Years at T. Rowe Price
10
Years investment experience
13
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
5
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
Class A $1,000 $100 5.00% 75 basis points 0.92%
Class Q $1,000 $100 N/A 40 basis points 0.57%
Class I $2,500,000 $100,000 N/A 40 basis points 0.50%

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.

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.