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GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. T. Rowe Price has been independently verified for the twenty four-year period ended June 30, 2020, by KPMG LLP. The verification report is available upon request. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis. Verification does not provide assurance on the accuracy of any specific performance report.

TRP is a U.S. investment management firm with various investment advisers registered with the U.S. Securities and Exchange Commission, the U.K. Financial Conduct Authority, and other regulatory bodies in various countries and holds itself out as such to potential clients for GIPS purposes. TRP further defines itself under GIPS as a discretionary investment manager providing services primarily to institutional clients with regard to various mandates, which include U.S, international, and global strategies but excluding the services of the Private Asset Management group.

A complete list and description of all of the Firm's composites and/or a presentation that adheres to the GIPS® standards are available upon request. Additional information regarding the firm's policies and procedures for calculating and reporting performance results is available upon request

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Past performance is not a reliable indicator of future performance.

Strategy

Dynamic Global Bond Core

The Dynamic Global Bond Core (AUD Hedged) Composite comprises portfolios that seek to provide positive absolute return by investing primarily in an actively managed global portfolio of fixed income securities. Allocation to below investment-grade issues is also permissible.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

3.49%
3.11%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

3.63%
0.41

Inception Date 28-Feb-2014

Performance figures calculated in AUD

Arif Husain, CFA
Arif Husain, CFA, Portfolio Manager

Arif Husain is the head of the International Fixed Income Division. He is a co-portfolio manager for the International Bond and Institutional International Bond Strategies and the lead portfolio manager for the Global Aggregate Bond Strategy. Arif also is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.

 

Strategy

Investment Approach

  • Seeking to maximize total return and provide income through investment in a global bond multi-sector portfolio.
  • A strong focus is devoted to risk management and in particular mitigating downside risk at all times.
  • The strategy performance is measured against a cash benchmark.
  • Excess Return Target: between 2.5% per annum above benchmark over a three to five year market cycle. (Not a formal objective and it can be changed without prior notice. There is no assurance that the target will be met.)
  • Expected average tracking error: tracking error is expected to remain between 2% and 4% annualized over a market cycle and should not exceed 5% per annum. (Actual results may vary, and the information should not be considered or relied upon as a projection of future performance.)
  • The strategy is subject to interest rate and credit risk, as well as risks unique to international investing, such as change in currency values.
  • The excess return target represents the portfolio manager’s goal of outperforming the stated standard benchmark for the strategy, employing its standard investment guidelines. A strategy’s standard benchmark may be different from a client benchmark. The target is based on an analysis of a strategy’s historical performance, investment universe, anticipated future market conditions, peer performance, benchmark characteristics, investment guidelines and other factors. The target reflects the current views of the portfolio manager and is subject to change. There is no guarantee that the target will be realized or achieved and actual results experienced by clients may vary from the target shown.

Portfolio Construction

  • Duration range: Between 0 and 6 years
  • Currency limit: limited to 20% net exposure to non-AUD currencies, as a percentage of the portfolio’s market value
  • Maximum 50% in cash and cash equivalent securities
  • Domestic sovereign bonds: up to 75% in Australian government bonds
  • Credit exposure: up to 50% in investment grade corporate credit
  • Rating exposure: up to 20% in securities rated below investment grade
  • Expected strategy holdings: between 25 and 150 issues

Countries

Total
Countries
41
Largest Country Germany 17.47% Was (30-Jun-2021) 10.79%
Other View complete Country Diversification

Monthly Data as of 30-Sep-2021