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T. Rowe Price
Global Government Bond High Quality Strategy
This strategy seeks attractive risk-adjusted returns across global bond markets, supported by an extensive macroeconomic research process.
Global Government Bond High Quality Strategy
The Global Government Bond High Quality strategy is a benchmark aware, highly flexible government bond strategy designed to seek consistent outperformance in both rising and falling interest rate environments.
Our flexibility is aimed to
1. avoid capital losses when interest rate are rising
2. enhance performance when interest rates are falling
Benchmark
FTSE World Government Bond Index Hedged USD
Risk Objectives
Tracking Error Target (Average)
200-500 bps per annum
Expected Contribution of Value Added
Country/Duration Management - 70%
Currency Management - 30%
Expected Duration
2 to 14 years
Expected Average Rating
A or Higher
Maximum Below Investment Grade
0%
Past performance is not a reliable indicator of future performance.
1 FTSE World Government Bond Index Hedged USD.
Credit ratings for the securities held in the portfolio are provided by Moody’s, Standard & Poor’s and Fitch and are converted to the Standard & Poor’s nomenclature. A rating of “AAA” represents the highest-rated securities, and a rating of “D” represents the lowest-rated securities. When a rating is available from all three agencies, the median rating is used. If there are tworatings, the lower rating is used and if only one rating is available, that rating is used. If a rating is not available, the security is classified as Not Rated (NR). T. Rowe Price uses the rating of the underlying investment vehicle to determine the creditworthiness of credit default swaps and sovereign securities. The portfolio is not rated by any agency.
The representative portfolio is an account in the composite we believe most closely reflects current portfolio management style for the strategy. Performance is not a consideration in theselection of the representative portfolio. The characteristics of the representative portfolio shown may differ from those of other accounts in the strategy. Please see the GIPS® CompositeReport for additional information on the composite.
Numbers may not total due to rounding.
Source for FTSE Index data: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”).
Please see Additional Disclosures for information about this FTSE, Fitch, Moody’s and S&P information.
Portfolio Managers
Arif Husain
Years of industry experience
27
Years at T. Rowe Price
9
As of 30 June 2023
Want to know more about our global fixed income capabilities?
Additional Disclosures
London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2022. FTSE Russell is a trading name of certain of the LSE Group companies. FTSE is a trade mark(s) of the relevant LSE Group companies and is/are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.
© 2023, Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “Moody’s”). All rights reserved. Moody’s ratings and other information (“Moody’s Information”) are proprietary to Moody’s and/or its licensors and are protected by copyright and other intellectual property laws. Moody’s Information is licensed to Client by Moody’s. MOODY’S INFORMATION MAY NOT BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY’S PRIOR WRITTEN CONSENT. Moody's (R) is a registered trademark.
Copyright © 2023, S&P Global Market Intelligence (and its affiliates, as applicable). Reproduction of any information, data or material, including ratings (“Content”) in any form is prohibited except with the prior written permission of the relevant party. Such party, its affiliates and suppliers (“Content Providers”) do not guarantee the accuracy, adequacy, completeness, timeliness or availability of any Content and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such Content. In no event shall Content Providers be liable for any damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with any use of the Content. A reference to a particular investment or security, a rating or any observation concerning an investment that is part of the Content is not a recommendation to buy, sell or hold such investment or security, does not address the suitability of an investment or security and should not be relied on as investment advice. Credit ratings are statements of opinions and are not statements of fact.
Source for Fitch: Copyright © 2023 Fitch Ratings, Inc., Fitch Ratings Ltd. and its subsidiaries.
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