Institutional Long Duration Credit Fund

Invests primarily in corporate debt securities issued by U.S. and foreign companies. Holdings will be a mix of long-term investment-grade and non-investment-grade bonds. High-yield bonds, convertibles, and foreign securities provide the opportunity for capital growth and higher income potential but with greater risk.

Yield and share price will vary with interest rate changes. If interest rates rise significantly from current levels, bond fund total returns will decline and may even turn negative in the short term.

Morningstar (Category)

Morningstar
(Overall Rating)1

Long-Term Bond
  (29 funds)

Data as of 12/31/2021

Data as of 12/31/2021

Fund Manager Tenure2

Net Assets3
(USD)

N/A
$37.5m

Data as of 12/31/2021

Data as of 12/31/2021

Price
(USD)

Daily Price Change

$10.40
$+0.06

Data as of 01/21/2022

Data as of 01/21/2022

Morningstar Ratings™ are based on risk-adjusted returns. Click on "Overall Rating" for the fund's 3-, 5-, and 10-year (if applicable) Morningstar Ratings™.

Robert M.  Larkins, CFA
Robert M. Larkins, CFA, Lead Portfolio Manager

Rob Larkins is the head of quantitative portfolio management in the Fixed Income Division. Rob is the lead portfolio manager of the firm’s suite of bond index strategies, overseeing the US Aggregate Bond Index Strategy, the US Enhanced Aggregate Bond Strategy, and numerous custom bond index mandates, including liability-driven investment portfolios tailored to meet specific client needs. He also is the lead portfolio manager of the Long Duration Credit Strategy and a member of the Core/Core Plus Portfolio Strategy team. Rob is the president and chairman of the Investment Advisory Committee for the QM U.S. Bond Index Fund, an executive vice president for the Institutional Income Funds, and a vice president and an Investment Advisory Committee member for the Balanced, Global Allocation, New Income, and Total Return Funds. Rob is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price Trust Company.

View more

Strategy

Investment Objective

The fund seeks to provide high income.

Yields & Dividends (Institutional)

30-Day SEC Standardized Yield
with waiver
2.54%

Data as of 12/31/2021

without waiver
2.54%

Data as of 12/31/2021

30-Day Annualized Dividend Yield
with waiver
3.41%

Data as of 01/21/2022

Monthly Dividend
(USD)
$0.032139756

Data as of 12/31/2021

Monthly Dividend
Rate
0.02%

Data as of 01/21/2022

US Mutual Fund vendor indices disclaimers

Sectors

Total
Sectors
21

Data as of 12/31/2021

Benchmark: Bloomberg U.S. Long Credit Bond Index

Largest Sector US Treasuries 10.43% Was (11/30/2021) 8.40%
Other View complete

Over

US Treasuries
By 10.43%
Fund 10.43%
Benchmark 0.00%

Under

Technology
By -6.37%
Fund 2.36%
Benchmark 8.73%

Data as of 12/31/2021

For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.

View platform information
1

© 2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

2

Number of years managing the fund.  In the case of co-portfolio management, the longer tenure is displayed.

3

Figure applies to all share classes.

Dismiss
Tap to dismiss