Active investment in mainly sovereign emerging-market bonds.
Investment ObjectiveTo maximise the value of its shares through both growth in the value of, and income from, its investments. The fund invests mainly in a diversified portfolio of bonds of all types from emerging market issuers.
- Focus primarily on sovereign debt.
- Integrate proprietary credit research and relative value analysis.
- Establish independent credit rating at the country and corporate issuer level.
- Add value through active country allocation and individual security selection decisions.
- Limit risk through diversification.
- Employ long-term investment horizon.
- Environmental, social and governance ("ESG") factors with particular focus on those considered most likely to have a material impact on the performance of the holdings or potential holdings in the funds’ portfolio are assessed. These ESG factors, which are incorporated into the investment process alongside financials, valuation, macro-economics and other factors, are components of the investment decision. Consequently, ESG factors are not the sole driver of an investment decision but are instead one of several important inputs considered during investment analysis.
- Diversified portfolio structure: typically 200-300 securities
- Duration bands: managed within +/- 1 year of the benchmark
- Average credit quality: BB
- Country exposure will range between 0% and 10%
- Expected tracking error: 200-400 bps
|1 YR||3 YR
|Since Manager Inception
|Indicative Benchmark %||4.36%||5.65%||3.89%||5.80%||6.72%|
|Excess Return %||3.79%||-1.65%||-0.76%||-0.57%||-0.62%|
|1 YR||3 YR
|Indicative Benchmark %||4.36%||5.65%||3.89%||5.80%|
|Excess Return %||3.79%||-1.65%||-0.76%||-0.57%|
|Month to DateData as of 21-Oct-2021||Quarter to DateData as of 21-Oct-2021||Year to DateData as of 21-Oct-2021||1 MonthData as of 30-Sep-2021||3 MonthsData as of 30-Sep-2021|
|Indicative Benchmark %||-0.60%||-0.60%||-1.95%||-2.07%||-0.70%|
|Excess Return %||-0.14%||-0.14%||1.10%||0.07%||0.29%|
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.
Samy Muaddi is a portfolio manager in the International Fixed Income Division. He is the portfolio manager of the Emerging Markets Bond Strategy and co-manages the Emerging Markets Corporate Bond and Global High Income Bond Strategies. He previously managed the firm’s Asia Credit Bond Strategy from its inception until 2020. Samy also is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price International Ltd.
Samy has been with T. Rowe Price since 2006, beginning as an associate analyst in the Fixed Income Division. After that, he was a credit analyst and then an associate portfolio manager on the Emerging Markets team before assuming his current role.
Samy earned a B.A., summa cum laude, in economics from the University of Maryland. He also has earned the Chartered Financial Analyst® designation. Samy is an adjunct professor at Georgetown University in the Walsh Graduate School of Foreign Service.
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- Fund manager2020
- Years at15
T. Rowe Price
- Years investment15
|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%||125 basis points||1.42%||No|
|Class I||$2,500,000||$100,000||$0||0.00%||65 basis points||0.73%||No|
|Class Q||$1,000||$100||$100||0.00%||65 basis points||0.81%||No|
|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.