SICAV
Global Aggregate Bond Fund
A portfolio of holdings of between around 400 and 600 issuers that seeks to exploit inefficiencies in the full universe of the global fixed income and currency markets.
ISIN LU0133095660
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FACTSHEET
KIID
FUND PROFILE
COMMENTARY

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Fund Size
($476.4m)
$476.4m
Data as of: 31-Oct-2019
Perf Chg
(Daily)
-0.24%
Data as of: 08-Nov-2019
NAV
(USD)
$16.37
Data as of: 08-Nov-2019
1 YR Return
(Annualised)
8.00%
Data as of: 31-Oct-2019
Since
Inception
3.76%
Data as of: 31-Oct-2019
Average
Coupon
3.15%
Data as of: 31-Oct-2019
Average
Maturity
10.28yrs
Data as of: 31-Oct-2019
Average
Duration
7.46 yrs
Data as of: 31-Oct-2019

Overview
Strategy
Fund Summary
Our approach is to aim to generate consistent performance over the benchmark through a focus on successful alpha generation and effective risk management. The team use bottom-up market fundamental, valuation, and technical analysis to identify opportunities. These are then narrowed down by comparing them within an explicit risk/reward framework.
Interest Rate Sensitivity
LIMITED
MODERATE
EXTENSIVE

531
Holdings

Average
Quality
AA-
Risk & Reward Data
Information Ratio
-0.13
Sharpe Ratio
0.20
Historical Tracking Error
1.14%
Performance - Net of Fees
Current Year Performance
MTD
-1.44%
Benchmark*
-1.40%
Excess Return

-0.04%
QTD
-1.21%
Benchmark*
-0.74%
Excess Return

-0.47%
YTD
4.67%
Benchmark*
5.53%
Excess Return

-0.86%
Data as of 08-Nov-2019
1 Month
0.24%
Benchmark*
0.67%
Excess Return

-0.43%
3 Months
1.22%
Benchmark*
1.67%
Excess Return

-0.45%
Data as of 31-Oct-2019
 
Annualised Performance
1 YR
8.00%
Benchmark*
9.54%
Excess Return

-1.54%
3 YR
2.29%
Benchmark*
2.77%
Excess Return

-0.48%
5 YR
1.92%
Benchmark*
2.13%
Excess Return

-0.21%
10 YR
2.49%
Benchmark*
2.36%
Excess Return

0.13%
Manager Inception
2.77%
Benchmark*
3.09%
Excess Return

-0.32%
Data as of 31-Oct-2019
Indicative Benchmark : Bloomberg Barclays Global Aggregate Bond Index
Fund Inception: 25-Jan-2006
Manager Inception: 13-Mar-2016

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

Holdings
Total
Holdings
531
Top 10
59.37%
Largest
U.S. Treasury Bonds
7.32%
Was ( 30-Jun-2019 )
5.17%
Data as of 30-Sep-2019
Duration
Maturity
Quality
Average
7.46 yrs
Average
10.28yrs
Average
AA-
Top
3-5 Years
28.16%
Was ( 30-Sep-2019 )
24.30%
Top
10+ Years
28.48%
Was ( 30-Sep-2019 )
31.18%
Top
AAA
24.86%
Was ( 30-Sep-2019 )
23.27%
Over
3-5 Years
By 5.78%
Fund
28.16%
Benchmark*
22.38%
Over
3-5 Years
By 3.37%
Fund
26.16%
Benchmark*
22.78%
Over
Below Investment Grade
By 6.14%
Fund
6.65%
Benchmark*
0.51%
Under
1-3 Years
By -10.59%
Fund
18.21%
Benchmark*
28.80%
Under
1-3 Years
By -8.13%
Fund
14.71%
Benchmark*
22.84%
Under
A
By -10.09%
Fund
14.57%
Benchmark*
24.66%
Sectors
Total
Sectors
6
Largest
Government
66.42%
Was ( 30-Sep-2019 )
65.52%
Over
Government
By 8.26%
Fund
66.42%
Benchmark*
58.16%
Under
Agency/Supranationals
By -8.00%
Fund
0.33%
Benchmark*
8.33%
Data as of 31-Oct-2019
Data as of 31-Oct-2019
Indicative Benchmark: Bloomberg Barclays Global Aggregate Bond Index

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

Regions
Data as of
Countries
Total
Countries
49
Largest
United States
36.46%
Was ( 30-Sep-2019 )
34.52%
Over
United Kingdom
By 7.18%
Fund
12.28%
Benchmark*
5.10%
Under
Japan
By -8.34%
Fund
7.72%
Benchmark*
16.06%
Data as of 31-Oct-2019
Data as of 31-Oct-2019
Indicative Benchmark: Bloomberg Barclays Global Aggregate Bond Index

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

Currency
Total
Currencies
32
Largest
U.S. dollar
47.63%
Was ( 30-Sep-2019 )
46.49%

Over
U.S. dollar
By 2.50%
Fund
47.63%
Benchmark*
45.13%
Under
Offshore Chinese renminbi
By -4.28%
Fund
-4.28%
Benchmark*
0.00%
Data as of 31-Oct-2019
Indicative Benchmark: Bloomberg Barclays Global Aggregate Bond Index

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


Team
Arif Husain,
Portfolio Manager
Arif Husain is head of International Fixed Income at T. Rowe Price. He is lead portfolio manager for the Dynamic Global and Global Aggregate Bond Strategies.
Portfolio Manager since
2014
Years at
T. Rowe Price
4
Years investment experience
22
Quentin Fitzsimmons,
Portfolio Manager
Quentin Fitzsimmons is a senior portfolio manager in the Fixed Income division and a member of the Global Fixed Income investment team. He is co-portfolio manager of the Dynamic Global Bond and Global Aggregate Bond strategies.
Portfolio Manager since
2016
Years at T. Rowe Price
2
Years investment experience
26
Stephane Fertat, CFA,
Portfolio Specialist
Stephane Fertat is a fixed income portfolio specialist. He is a member of the Global Fixed Income team, supporting all global/international fixed income strategies.
Years at
T. Rowe Price
10
Years investment experience
20
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 Barclays

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.

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