Seeks to generate positive returns from global investment-grade fixed income with a focus on downside risk and diversification from equity markets.
To generate income while offering some protection against rising interest rates and a low correlation with equity markets.
- The investment manager's approach is based on proprietary fundamental research and relative value analysis.
- The investment manager seeks to add value primarily through duration management, currency selection, sector allocation and security selection.
- The investment process places a strong emphasis on downside protection, utilizing robust risk management practices and portfolio diversification to manage the overall risk profile.
- The fund invests mainly in a portfolio of bonds of all types from issuers around the world, including emerging markets.
- Specifically, the fund invests at least two-thirds of total assets in debt securities issued by governments, government agencies, companies and banks. Portfolio debt securities can include fixed and floating rate bonds, convertible bonds, warrants and other transferable debt securities of any type, with a rating of investment grade by major rating agencies or if unrated of equivalent quality. The fund may invest more than 20% of assets in asset-backed securities (ABS) and mortgage backed securities (MBS).
- The fund does not invest more than 10% of assets in equities and equity-related securities, 25% of assets in convertible bonds, and one third of assets in money market securities, with total investment in these categories limited to one-third of assets. However, for temporary defensive purposes, investments in money market securities may exceed one-third of assets.
- The fund may use derivatives for hedging, efficient portfolio management and to seek gains. The fund may also use derivatives to create synthetic short positions in currencies, debt securities, credit indices and equities.
|1 YR||3 YR
|Since Manager Inception
|Indicative Benchmark %||2.50%||N/A||N/A||2.21%||2.21%|
|Excess Return %||-2.80%||N/A||N/A||-1.81%||-1.81%|
|1 YR||3 YR
|Indicative Benchmark %||2.54%||N/A||N/A||2.22%|
|Excess Return %||-2.44%||N/A||N/A||-1.67%|
|Month to DateData as of 19-Nov-2019||Quarter to DateData as of 19-Nov-2019||Year to DateData as of 19-Nov-2019||1 MonthData as of 31-Oct-2019||3 MonthsData as of 31-Oct-2019|
|Indicative Benchmark %||0.10%||0.27%||2.13%||0.17%||0.53%|
|Excess Return %||0.10%||-0.37%||-3.01%||-0.47%||-1.71%|
Past performance is not a reliable indicator of future performance. Source for fund 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.
Where the base currency of the fund differs from the share class currency, exchange rate movements may affect returns.
Arif Husain is head of International Fixed Income at T. Rowe Price. He is lead portfolio manager for the Dynamic Global Bond Strategies. Mr. Husain is also co-portfolio manager for the firm's International Bond, Global Aggregate Bond and Institutional International Bond Strategies. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.
Mr. Husain has 24 years of investment experience, six of which have been with T. Rowe Price. Prior to joining the firm in 2013, he spent 14 years as director of both European Fixed Income and Euro Portfolio Management at AllianceBernstein. He was also a member of the global fixed income and absolute return portfolio management teams. Mr. Husain previously worked as assistant director of European Derivatives Trading at Greenwich NatWest and also traded interest rate swaps at Bank of America National Trust & Savings Association.
Mr. Husain received a B.Sc. (hons.) in banking and international finance from the City University, London Business School. He also has earned the Chartered Financial Analyst designation.
- Fund manager2017
- Years at6
T. Rowe Price
- Years investment23
|Share Class||Minimum Initial Investment and Holding Amount||Minimum Subsequent Investment||Minimum Redemption Amount||Sales Charge (up to)||Investment Management Fee (up to)||Ongoing Charges|
|Class A||$15,000||$100||$100||5.00%||85 basis points||1.02%|
|Class I||$2,500,000||$100,000||$0||0.00%||43 basis points||0.53%|
|Class Q||$15,000||$100||$100||0.00%||43 basis points||0.60%|
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.