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Financial Intermediary / All Funds / Dynamic Credit Fund
Fund Range Documents

Capital at risk. Past performance is not a reliable indicator of current or 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
Dynamic Credit Fund
An actively managed fund that seeks total return through a combination of income and capital appreciation by investing in a variety of credit instruments. Aims to deliver attractive returns, preserve capital through the credit cycle, and outperform equities and high yield in periods of market stress. The fund is categorised as Article 8 under Sustainable Finance Disclosure Regulation (SFDR).
ISIN LU2047632240
View more information on risks
FACTSHEET
KIID
SFDR DISCLOSURE

Overview
Strategy
Fund Summary
The strategy’s investment approach provides the flexibility to invest both long and short across a wide variety of traditional and non-traditional global credit instruments without constraints to particular benchmarks, asset classes or sectors, seeking consistent risk-adjusted returns over a full market cycle. The strategy seeks out high-conviction opportunities created by dynamic global market conditions and is expected to hold a relatively concentrated portfolio. 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.

Team
Saurabh Sud,
Portfolio Manager
Saurabh Sud is a senior portfolio manager in the Fixed Income division, with specific expertise in credit markets.
Portfolio Manager since
2019
Years at T. Rowe Price
1
Years investment experience
12
Thomas Heidenberger,
Portfolio Specialist
Thomas Heidenberger is a portfolio specialist responsible for low duration and dynamic credit strategies in the Fixed Income Division. Thomas is a vice president of T. Rowe Price Associates, Inc.
Years at T. Rowe Price
6
Years investment experience
13

Indicative Benchmark Data Source: ICE

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.

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 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.

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.