Strategy
US Investment Grade Corporate Bond
N/A
3YR Return Annualised (Net)
(View Total Returns)
Tracking Error
(5 Years)
1YR Return (Net)
(View Total Returns)
Information Ratio
(5 Years)
Inception Date 31-Mar-1987
Performance figures calculated in USD
Performance
Annualised Performance
Quarterly| 1 YR | 3 YR Annualised |
5 YR Annualised |
10 YR Annualised |
|
|---|---|---|---|---|
| Composite Gross % | 7.13% | 6.21% | 6.05% | 5.56% |
| Composite Net % | 6.81% | 5.89% | 5.74% | 5.25% |
| Benchmark % | 7.90% | 6.41% | 5.98% | 5.14% |
| Excess Return (Gross) % | -0.77% | -0.20% | 0.07% | 0.42% |
Recent Performance
| 3 MonthsData as of 30-Sep-2020 | Year to DateData as of 30-Sep-2020 | |
|---|---|---|
| Composite Gross % | 1.60% | 5.71% |
| Composite Net % | 1.52% | 5.47% |
| Benchmark % | 1.54% | 6.64% |
| Excess Return (Gross) % | 0.06% | -0.93% |
Past performance is not a reliable indicator of future performance.
Returns for time periods greater than one year are annualised.
Gross performance returns are presented before management and all other fees, where applicable, but after trading expenses. Net of fees performance reflects the deduction of the highest applicable management fee that would be charged based on the fee schedule contained within this material, without the benefit of breakpoints. Gross and net performance returns reflect the reinvestment of dividends and are net of all non-reclaimable withholding taxes on dividends, interest income, and capital gains.
Effective 1 September 2009, the benchmark for the composite changed to Bloomberg Barclays U.S. Corporate Investment Grade Index. Prior to this change the benchmark was FTSE U.S. Credit/Asset-Backed Bond Index effective 1 July 2006 through 31 August 2009 and FTSE U.S. Index effective since composite inception through 30 June 2006. The changes were made because the firm viewed the new benchmark to be a better representation of the investment strategy of the composite. Historical benchmark representations have not been restated.
Holdings
Holdings
Total
Holdings
239
Quality Rating View quality analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Quality Rating | BB | A |
| By % | 6.37% | -11.07% |
| Portfolio | 8.32% | 29.89% |
| Benchmark | 1.95% | 40.96% |
Average Credit Quality
BBB+Maturity View maturity analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Maturity | 3-5 Years | 1-3 Years |
| By % | 5.90% | -7.20% |
| Portfolio | 21.96% | 8.57% |
| Benchmark | 16.06% | 15.77% |
Weighted Average Maturity
10.18 YearsDuration View duration analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Duration | 3-5 Years | Over 10 Years |
| By % | 18.33% | -11.58% |
| Portfolio | 37.07% | 23.51% |
| Benchmark | 18.74% | 35.09% |
Weighted Average Duration
9.23 YearsSectors
Total
Sectors
22
Largest Overweight
Non Corporate
Largest Underweight
Technology
Team (As of 01-Oct-2020)
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. He is a member of the Global Multi-Sector and U.S. Taxable Bond teams, with a focus on global and U.S. investment-grade corporate bond portfolios. Mr. Boothe is an executive vice president and cochairman of the Investment Advisory Committee of the Corporate Bond Strategy. He is also a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Mr. Boothe has 22 years of investment experience, 20 of which have been at T. Rowe Price. He joined the firm in 1999 and was a credit research analyst, covering the global telecommunications and technology industries, and an investment-grade corporate portfolio manager/analyst prior to assuming his current role in 2014.
Mr. Boothe earned a B.A. in economics/mathematics from Columbia University. He also has earned the Chartered Financial Analyst designation and is a Series 7 and 63 registered representative.
- Portfolio manager2018
since - Years at21
T. Rowe Price - Years investment23
experience
Lauren Wagandt is a portfolio manager in the Fixed Income Division at T. Rowe Price. Ms. Wagandt has portfolio management responsibilities for the US Investment Grade Corporate Bond Strategy. She is also executive vice president and cochair of the Investment Advisory Committee of the US Investment Grade Corporate Bond Strategy. Ms. Wagandt is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Ms. Wagandt has 13 years of investment experience, 10 of which have been at T. Rowe Price. Before assuming her current role, Ms. Wagandt was a corporate credit analyst in the Fixed Income Division. Prior to joining the firm in 2009, she was a product specialist at hedge fund BlueCrest Capital Management in New York and London, serving in a marketing and client services role. Ms. Wagandt also worked as a high-grade credit research analyst at Credit Suisse in New York.
Ms. Wagandt earned a B.A. in economics from Cornell University. She also has earned the Chartered Financial Analyst designation.
- Portfolio manager2018
since - Years at11
T. Rowe Price - Years investment14
experience
Gregor Dannacher is a global credit portfolio specialist in the Fixed Income Division. He supports the Multi-Asset Credit, Global High Income, Global High Yield, US High Yield, Global Loan, and US Investment-Grade Strategies, working closely with clients, prospects, and consultants. Gregor is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Gregor’s investment experience began in 1992, and he has been with T. Rowe Price since 2015, beginning in the Fixed Income Division. Prior to T. Rowe Price, Gregor was employed by Guggenheim Global Trading, a division of Guggenheim Partners, as a portfolio manager and senior analyst, managing a global credit opportunity hedge fund portfolio. Before that, he was a director of investment research at Kamunting Street Capital Management, a global credit hedge fund. He also has held various other investment roles in his career, including as a senior lead equity research analyst and leverage finance analyst.
Gregor earned a B.S. in accounting from Villanova University and an M.B.A., with honors, in finance and international business from New York University, Stern School of Business. Gregor also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Years at5
T. Rowe Price - Years investment28
experience
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. He is a member of the Global Multi-Sector and U.S. Taxable Bond teams, with a focus on global and U.S. investment-grade corporate bond portfolios. Mr. Boothe is an executive vice president and cochairman of the Investment Advisory Committee of the Corporate Bond Strategy. He is also a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.