Established in experience, we're free to explore new fixed income opportunities for your clients in a changing climate.
Ideas are key to our success. Our analysts go beyond the numbers to look for real insights of change in every corner of the market.
At T. Rowe Price analysts are rewarded on the value their ideas create. We are insight-led and idea-driven.
Our portfolio managers are not held to a central ‘house view’ on the macro positioning of their strategies. They are empowered to identify the themes that are most relevant to their portfolios and to decide how best to express those views to meet investment objectives.
Integration & collaboration
Many investment firms claim to be collaborative but for us, collaboration is the lifeblood of our research culture. We test all our investment ideas across different investment specialist teams. We believe it’s the best way to gauge their true risk and reward.
From meticulous company and credit research, to a range of quantitative proprietary risk models monitoring portfolio performance, to our Responsible Investing Indicator (RIIM) model. We continually monitor and manage risk to ensure each portfolio is taking only the intended risks to generate return.
Inflation and rising rates remain at the forefront of fixed income investors’ minds. Since the start of 2022, fixed income investors have found themselves facing a combination of multi-decade high inflation and a hawkish shift from major central banks that has translated into rate hikes.
With the prospect of more volatility and higher interest rates, what should investors do to shield portfolios from interest rate risk and the rising cost of money?
The hunt for yield has been a major headache for investors over the past decade. The lengthy period of ultra-low interest rate has meant the so-called ‘risk-free’ component of most portfolios, developed market bonds like the US treasuries, produced results that barely matched inflation, if at all.
Managers need to be skilled in identifying pockets of value, without over-reaching for yield.
Find out how investors could manage their thirst for yield without playing into overly risky assets.
The combination of persistently high inflation, slowing growth and geopolitical unrest may be creating an almost unsolvable riddle for central banks. Are they now forced to choose between averting recession and meeting their inflation targets? Investors need managers that can identify pockets of value even in times of policy uncertainties.
The historic role of fixed income as diversifying asset class to mitigate equity risk has been challenged. A decade characterized by ultra-low rates, negative yield and muted inflation has led many to question traditional portfolio construction theory.
As we move into a new era, what alternative asset class weightings and portfolio construct need to be considered to meet client objectives?
Risks - The following risks are materially relevant to this fund: General fund risks, Capital risk, ESG and Sustainability risk, Counterparty risk, Geographic concentration risk, Hedging risk, Investment portfolio risk, Management risk, Operational risk.
Past performance is not a reliable indicator of future performance.
At T. Rowe Price Fixed Income we believe that empowering our teams with the freedom to think, the freedom to explore, delivers better outcomes for our clients. Hear how directly from our Portfolio Managers and Analysts.
What is “Freedom in Fixed Income”? Portfolio Manager, Mike Della Vedova, explains why our unconstrained approach helps deliver long-term results for clients.
Portfolio Manager, David Stanley, discusses the benefits of “Freedom in Fixed Income” and the attractive investment opportunities it can bring.
Hear from Razan Nasser, Emerging Markets Sovereign Analyst and Willem Visser, Associate PM Fixed Income ESG on how our unconstrained philosophy empowers our investment teams with the freedom and flexibility to seek out best opportunities across the full range of fixed income securities.
A consistent approach: tried and tested for over 50 years
When we founded our fixed income division in 1971, the world was a very different place. Over these five decades we have navigated multiple market crises and followed new asset classes as they grew from infancy.
Join our investment professionals as they reflect on their own careers, the evolution of their asset classes – and lessons for the future.
1The combined multi-asset portfolios managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates. This figure includes assets that are held outside of T. Rowe Price, but where T. Rowe Price influences trade decisions.
Risks - The following risks are materially relevant to the fund (refer to prospectus for further details):
General Fund Risks
Capital risk - the value of your investment will vary and is not guaranteed. It will be affected by changes in the exchange rate between the base currency of the fund and the currency in which you subscribed, if different. Counterparty risk - an entity with which the portfolio transacts may not meet its obligations to the fund. ESG and Sustainability risk - may result in a material negative impact on the value of investment and performance of the fund. Geographic concentration risk - to the extent that a fund invests a large portion of its assets in a particular geographic area, its performance will be more strongly affected by events within that area. Hedging risk - a fund's attempts to reduce or eliminate certain risks through hedging may not work as intended. Investment fund risk - investing in funds involves certain risks an investor would not face if investing in markets directly. Management risk - the investment manager or its designees may at times find their obligations to a fund to be in conflict with their obligations to other investment funds they manage (although in such cases, all funds will be dealt with equitably). Operational risk - operational failures could lead to disruptions of fund operations or financial losses.
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. They can also be found along with a summary of investor rights in English at www.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.
This material is being furnished for general informational and/or marketing purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, nor is it intended to serve as the primary basis for an 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.
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Unless indicated otherwise this material is issued and approved by T. Rowe Price (Luxembourg) Management S.à r.l. 35 Boulevard du Prince Henri L-1724 Luxembourg which is authorised and regulated by the Luxembourg Commission de Surveillance du Secteur Financier.