T. Rowe Price - Home
Choose your site Enterprise Financial Intermediary Institutional Investors/Consultants
Your location and language
English
Search
Choose your site Enterprise Financial Intermediary Institutional Investors/Consultants
Your location and language
English
Your location and language
English
View Supported Browsers
Financial Intermediary / All Funds / Global Investment Grade Corporate Bond Fund
Fund Range Documents

Capital at risk. Past performance is not a guarantee or a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

The listed funds are not an exhaustive list of funds available. Visit www.funds.troweprice.com to see the full range of funds offered by T. Rowe Price, including those that consider environmental and social characteristics as part of their investment process.  For up to date information regarding any T. Rowe Price fund's investment strategy, please see the relevant fund KID and prospectus. 

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. The fund is categorised as Article 8 under Sustainable Finance Disclosure Regulation (SFDR).
ISIN LU1216623295
View more information on risks
FACTSHEET
KID
SFDR DISCLOSURE
31-Dec-2025 - Steve Boothe Portfolio Manager,
We expect markets to price in a re-acceleration in US growth without a marked deterioration in the labor market as we enter 2026. In the eurozone, we see potential for services inflation, the key data point watched by officials, to remain sticky throughout 2026.

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. The promotion of environmental and/or social characteristics is achieved through the fund's commitment to maintain at least 10% of the value of its portfolio invested in Sustainable Investments, as defined by the SFDR. Additionally, we apply a proprietary responsible screen (exclusion list). The manager is not constrained by the fund’s benchmark, which is used for performance comparison purposes only.
Performance - Net of Fees

Past performance is not a guarantee or a reliable indicator of future results.
31-Dec-2025 - Steve Boothe Portfolio Manager,
Global investment-grade (IG) corporate bonds, as measured by the Bloomberg Global Corporate Bond Index hedged to the US dollar, generated positive results in December. Performance for corporate credit was supported by tighter corporate credit spreads which delivered solid excess returns. That said, higher intermediate- and long-term U.S. Treasury yields as well as higher eurozone yields across the curve mitigated returns. US Treasury yields rose as markets repriced higher term premia amid uncertainty over the medium-term inflation outlook. Eurozone yields rose slightly as the market reacted to November’s higher-than-expected inflation reading and news of Germany’s planned 2026 increase in debt issuance. The fund underperformed the benchmark modestly over the month, largely driven by interest rate management. An overweight allocation to the US 10-year key rate hindered performance as intermediate- and long-term yields rose over the month. Selection within the brokerage, banking, and basic industry sectors aided performance. Overweight allocation to the government agency sector and an underweight to the banking sector also contributed.

Past performance is not a guarantee or a reliable indicator of future results

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 and/or key information document (KID) 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.

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.

Before deciding to invest in the fund, you should read the offering document/prospectus (including its investment objectives, policies and any risk warnings) which are available and may be obtained from any appointed distributors.

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.  

Benchmark: Investors may use the benchmark to compare the fund’s performance. The benchmark has been selected because it is similar to the investment universe used by the investment manager and therefore acts as an appropriate comparator. The investment manager is not constrained by any country, sector and/or individual security weightings relative to the benchmark and has complete freedom to invest in securities that do not form part of the benchmark.

Disclosure on Vendor Indices can be found here.