SICAV
Emerging Markets Corporate Bond Fund
Accessing diversified emerging market corporate debt.
ISIN LU0596126465
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COMMENTARY

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Fund Size
($136.1m)
$136.1m
Perf Chg
(Daily)
0.13%
NAV
(USD)
$15.59
1 YR Return
(Annualised)
10.78%
Since
Inception
5.59%
Average
Coupon
5.84%
Average
Maturity
6.62 yrs
Average
Duration
5.21 yrs

Overview
Strategy
Fund Summary
Maximise total return through investment in a diverse portfolio of emerging-market corporate bonds.
Interest Rate Sensitivity
LIMITED
MODERATE
EXTENSIVE

160
Holdings

Average
Quality
BB
Risk & Reward Data
Information Ratio
0.11
Sharpe Ratio
0.95
Historical Tracking Error
1.26%
05 October 2015

Change of Portfolio Manager

Effective 1 October 2015, Samy Muaddi assumed portfolio management responsibility for the Emerging Markets Corporate Bond Fund.

05 October 2015

Change of Portfolio Manager

Effective 1 October 2015, Samy Muaddi assumed portfolio management responsibility for the Emerging Markets Corporate Bond Fund.

Performance - Net of Fees
Current Year Performance
MTD
-0.19%
Benchmark*
-0.01%
Excess Return

-0.18%
QTD
1.17%
Benchmark*
0.88%
Excess Return

0.29%
YTD
10.41%
Benchmark*
9.79%
Excess Return

0.62%
Data as of 16-Aug-2019
1 Month
1.36%
Benchmark*
0.89%
Excess Return

0.47%
3 Months
4.13%
Benchmark*
3.62%
Excess Return

0.51%
Data as of 31-Jul-2019
 
Annualised Performance
1 YR
10.78%
Benchmark*
9.61%
Excess Return

1.17%
3 YR
5.99%
Benchmark*
5.30%
Excess Return

0.69%
5 YR
5.17%
Benchmark*
5.04%
Excess Return

0.13%
Inception
5.59%
Benchmark*
5.36%
Excess Return

0.23%
Manager Inception
7.90%
Benchmark*
6.74%
Excess Return

1.16%
Data as of 31-Jul-2019
Indicative Benchmark : J.P. Morgan Corporate Emerging Market Bond Index Broad Diversified
Fund Inception: 18-May-2011
Manager Inception: 30-Sep-2015

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

Holdings
Total
Holdings
160
Top 10
15.39%
Largest
Globo Comunicacao E Participacoes
1.51%
Was ( 31-Mar-2019 )
1.49%
Data as of 30-Jun-2019
Duration
Maturity
Quality
Average
5.21 yrs
Average
6.62 yrs
Average
BB
Top
3-5 Years
31.88%
Was ( 30-Jun-2019 )
35.21%
Top
7-10 Years
28.66%
Was ( 30-Jun-2019 )
29.46%
Top
BB
33.76%
Was ( 30-Jun-2019 )
34.39%
Over
5-7 Years
By 10.12%
Fund
30.75%
Benchmark*
20.62%
Over
7-10 Years
By 10.43%
Fund
28.66%
Benchmark*
18.23%
Over
BB
By 13.77%
Fund
33.76%
Benchmark*
19.99%
Under
1-3 Years
By -4.49%
Fund
19.27%
Benchmark*
23.76%
Under
10+ Years
By -9.10%
Fund
5.99%
Benchmark*
15.09%
Under
A
By -14.17%
Fund
4.94%
Benchmark*
19.11%
Sectors
Total
Sectors
14
Largest
TMT
18.42%
Was ( 30-Jun-2019 )
20.10%
Over
TMT
By 6.78%
Fund
18.42%
Benchmark*
11.65%
Under
Financial
By -17.11%
Fund
12.53%
Benchmark*
29.64%
Data as of 31-Jul-2019
Data as of 31-Jul-2019
Indicative Benchmark: J.P. Morgan Corporate Emerging Market Bond Index Broad Diversified

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

Regions
Data as of
Countries
Total
Countries
37
Largest
China
16.84%
Was ( 30-Jun-2019 )
15.94%
Over
China
By 9.05%
Fund
16.84%
Benchmark*
7.79%
Under
South Korea
By -4.24%
Fund
0.00%
Benchmark*
4.24%
Data as of 31-Jul-2019
Data as of 31-Jul-2019
Indicative Benchmark: J.P. Morgan Corporate Emerging Market Bond Index Broad Diversified

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

Currency
Total
Currencies
3
Largest
U.S. dollar
100.00%
Was ( 30-Jun-2019 )
100.00%

Over
euro
By 0.00%
Fund
0.00%
Benchmark*
0.00%
Under
U.S. dollar
By -0.00%
Fund
100.00%
Benchmark*
100.00%
Data as of 31-Jul-2019
Indicative Benchmark: J.P. Morgan Corporate Emerging Market Bond Index Broad Diversified

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


Team
Samy Muaddi,
Portfolio Manager
Samy Muaddi is a portfolio manager in the Fixed Income Division. He is lead manager of T. Rowe Price's Emerging Markets Corporate Bond Strategy.
Portfolio Manager since
2015
Years at
T. Rowe Price
11
Years investment experience
11
Benjamin Robins,
Portfolio Specialist
Ben Robins is a fixed income portfolio specialist. He is a member of the Global Fixed Income team, supporting our emerging market debt strategies.
Years at T. Rowe Price
1
Years investment experience
17
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: JP Morgan. Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan’s prior written approval. Copyright © 2019, J.P. Morgan Chase & Co. All rights reserved.

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.

Daily performance data is based on the latest available NAV.  

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.

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.

The Morningstar rating is sourced from Morningstar.

©2019 Morningstar, Inc.  All Rights Reserved.  The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely.  Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Citywire - where the Fund manager is rated by Citywire the rating is based on the manager's 3 year risk adjusted performance.