SICAV
Dynamic Global Bond Fund
Seeks to generate positive returns from global fixed income with a focus on downside risk and diversification from equity markets.
3YR Return Annualised
(View Total Returns)
Total Assets
(USD)
1YR Return
(View Total Returns)
Manager Tenure
Information Ratio
(5 Years)
Tracking Error
(5 Years)
Inception Date 10-Jun-2015
Performance figures calculated in GBP
Strategy
Investment Objective
To generate income while offering some protection against rising interest rates and a low correlation with equity markets. The fund invests mainly in a portfolio of bonds of all types from issuers around the world, including emerging markets.Investment Approach
- The Dynamic Global Bond Fund seeks to provide attractive, stable income and downside risk management through dynamic and flexible portfolio management. The fund is not benchmark sensitive and invests in fixed income securities from a broad opportunity set, looking for best opportunities but also for defensive investments to manage downside risk.
- Seeks performance through income and capital gains
- Seeks to generate consistent and sustainable performance through diversification across geography and markets
- Controlled risk profile with bond-like volatility
- Focus on downside risk from potential rise in interest rates
- Tactical management of duration profile and country selection
- Based on high conviction views driven by extensive research platform
- Low correlation with risky markets during periods of risk aversion
- Focus on government allocation as opposed to credit risk
- Target value added: seeks to outperform the U.S. 3 month Libor over a full market cycle (Not a formal objective and it can be changed without prior notice. Please reference prospectus for formal objective.)
- Target tracking error: between 2% and 5% tracking error annualized
- Fund offering different types of share classes currency hedged.
Portfolio Construction
- Total duration between -1 and 6 years
- Minimum 50% currency hedged
- Minimum 50% in non-USD securities
- Ability to go long and short individual countries and currencies
- Up to 100% allowed in government bond securities
- Up to 30% allowed in High Yield
Annualised Performance
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
Since Manager Inception Annualised |
|
|---|---|---|---|---|---|
| Fund % | 2.46% | 1.95% | 0.43% | 1.27% | 1.27% |
| Indicative Benchmark % | 0.07% | 0.44% | 0.46% | 0.48% | 0.48% |
| Excess Return % | 2.39% | 1.51% | -0.03% | 0.79% | 0.79% |
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
|
|---|---|---|---|---|
| Fund % | 3.31% | 2.40% | 0.69% | 1.42% |
| Indicative Benchmark % | 0.06% | 0.46% | 0.47% | 0.49% |
| Excess Return % | 3.25% | 1.94% | 0.22% | 0.93% |
Recent Performance
| Month to DateData as of 29-Nov-2021 | Quarter to DateData as of 29-Nov-2021 | Year to DateData as of 29-Nov-2021 | 1 MonthData as of 31-Oct-2021 | 3 MonthsData as of 31-Oct-2021 | |
|---|---|---|---|---|---|
| Fund % | -1.11% | -1.92% | -1.11% | -0.82% | -0.73% |
| Indicative Benchmark % | 0.01% | 0.02% | 0.08% | 0.01% | 0.02% |
| Excess Return % | -1.12% | -1.94% | -1.19% | -0.83% | -0.75% |
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.
Where the base currency of the fund differs from the share class currency, exchange rate movements may affect returns.
Holdings
Holdings
Total
Holdings
130
Sectors
Total
Sectors
6
Countries
Total
Countries
43
Fee Schedule
| Share Class | Minimum Initial Investment and Holding Amount (USD) | Minimum Subsequent Investment (USD) | Minimum Redemption Amount (USD) | Sales Charge (up to) | Investment Management Fee (up to) | Ongoing Charges | UK Tax Reporting Status |
|---|---|---|---|---|---|---|---|
| Class A | $1,000 | $100 | $100 | 5.00% | 100 basis points | 1.17% | No |
| Class I | $2,500,000 | $100,000 | $0 | 0.00% | 50 basis points | 0.60% | Yes |
| Class Q | $1,000 | $100 | $100 | 0.00% | 50 basis points | 0.67% | Yes |
| Class Sd | $10,000,000 | $0 | $0 | 0.00% | 0 basis points | 0.10% | No |
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.
T. Rowe Price Funds SICAV and its sub-funds are domiciled in Luxembourg and therefore considered offshore funds for UK tax purposes. Selected share classes of T. Rowe Price Funds SICAV have been designated “Reporting Funds” by HM Revenue & Customs (HMRC) under the guidelines of the UK Offshore Funds Regulation. These share classes report all relevant tax information to HMRC on an annual basis. Details on the information reported are outlined in the SICAV Shareholder Tax Reporting document that is available in the Fund Range Docs drop-down. Investors in “Reporting Fund” share classes who are considered United Kingdom residents for tax purposes will have any accrued gains treated as a capital gain rather than income upon sale or other disposal of their shares.
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.