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.
ISIN LU1216623295
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FACTSHEET
KIID
FUND PROFILE
COMMENTARY

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Average
Coupon
3.68%
Data as of: 31-Oct-2020
Average
Maturity
9.00 yrs
Data as of: 31-Oct-2020
Average
Duration
7.51 yrs
Data as of: 31-Oct-2020
Fund Size
(USD)
$45.6m
Data as of: 31-Oct-2020
Perf Chg
(Daily)
0.15%
Data as of: 25-Nov-2020
Since
Inception
5.16%
Data as of: 31-Oct-2020
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 31-Oct-2020
NAV
(USD)
$13.41
Data as of: 25-Nov-2020
1 YR Return
(Annualised)
3.31%
Data as of: 31-Oct-2020

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.
LIMITED
MODERATE
EXTENSIVE

227
Holdings

Average
Quality
BBB+
Risk & Reward Data
Information Ratio
-0.07
Sharpe Ratio
0.64
Historical Tracking Error
2.25%
Performance - Net of Fees
Current Year Performance
MTD
2.21%
Benchmark*
1.79%
Excess Return

0.42%
QTD
2.29%
Benchmark*
1.90%
Excess Return

0.39%
YTD
4.68%
Benchmark*
7.34%
Excess Return

-2.66%
Data as of 25-Nov-2020
1 Month
0.08%
Benchmark*
0.11%
Excess Return

-0.03%
3 Months
-0.53%
Benchmark*
-0.68%
Excess Return

0.15%
Data as of 31-Oct-2020
 
Annualised Performance
1 YR
3.31%
Benchmark*
5.89%
Excess Return

-2.58%
3 YR
4.52%
Benchmark*
5.70%
Excess Return

-1.18%
5 YR
5.41%
Benchmark*
5.57%
Excess Return

-0.16%
Inception
5.16%
Benchmark*
5.30%
Excess Return

-0.14%
Manager Inception
5.16%
Benchmark*
5.30%
Excess Return

-0.14%
Data as of 31-Oct-2020
Indicative Benchmark : Bloomberg Barclays Global Aggregate Corporates Bond USD Hedged Index
Fund Inception: 08-Jun-2015
Manager Inception: 08-Jun-2015

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

Holdings
Total
Holdings
227
Top 10
18.09%
Largest
DB Master Finance
1.48%
Was ( 30-Jun-2020 )
1.57%
Data as of 30-Sep-2020
Duration
Maturity
Quality
Average
7.51 yrs
Average
9.00 yrs
Average
BBB+
Top
3-5 Years
30.50%
Was ( 30-Sep-2020 )
32.11%
Top
10+ Years
26.60%
Was ( 30-Sep-2020 )
23.23%
Top
BBB
52.52%
Was ( 30-Sep-2020 )
51.61%
Over
3-5 Years
By 8.21%
Fund
30.50%
Benchmark*
22.28%
Over
3-5 Years
By 4.01%
Fund
24.09%
Benchmark*
20.08%
Over
BB
By 9.94%
Fund
11.22%
Benchmark*
1.27%
Under
Over 10 Years
By -9.82%
Fund
15.28%
Benchmark*
25.10%
Under
1-3 Years
By -10.69%
Fund
8.95%
Benchmark*
19.65%
Under
A
By -11.00%
Fund
27.88%
Benchmark*
38.88%
Regions
Data as of
Countries
Total
Countries
30
Largest
United States
61.57%
Was ( 30-Sep-2020 )
58.74%
Over
United States
By 6.41%
Fund
61.57%
Benchmark*
55.15%
Under
France
By -6.19%
Fund
0.53%
Benchmark*
6.72%
Data as of 31-Oct-2020
Data as of 31-Oct-2020
Indicative Benchmark: Bloomberg Barclays Global Aggregate Corporates Bond USD Hedged Index

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

Currency
Total
Currencies
5
Largest
U.S. dollar
99.05%
Was ( 30-Sep-2020 )
99.27%

Over
U.S. dollar
By 32.76%
Fund
99.05%
Benchmark*
66.29%
Under
euro
By -23.91%
Fund
0.14%
Benchmark*
24.05%
Data as of 31-Oct-2020
Indicative Benchmark: Bloomberg Barclays Global Aggregate Corporates Bond USD Hedged 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
2015
Years at T. Rowe Price
20
Years investment experience
22
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

Indicative Benchmark Data Source: Bloomberg Index Services Limited.

Past performance is not a reliable indicator of future performance.

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.

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.

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.