Choose your location
United States
English
Austria
Belgium
Denmark
Estonia
Finland
France
Iceland
Ireland
Italy
Latvia
Lithuania
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
United Kingdom
Fixed Income Capabilities
Free to think, free to perform
Across our broad range of fixed income solutions, our investment teams have the freedom to explore original ideas and test them through rigorous research in pursuit of better client outcomes.
At a Glance
years managing fixed income assets
fixed income investment professionals
USD of fixed income AUM¹
We empower our fixed income experts to think creatively and explore new ideas to achieve your investment objectives.
Open minds, original ideas
Our world-class fixed income professionals are curious and astute experts in their field — bringing compelling views that see past common narratives. We deliver real insights on opportunities across global markets.
Ideas tested from many angles
We nurture a culture of curiosity and debate. Our teams are incentivized to think creatively and to share and challenge ideas. We test our ideas from different viewpoints to gauge their true risk and potential reward.
Portfolios aligned to client goals
Our portfolio managers are individually accountable for every decision and client outcome. We prioritize managing risk to ensure each portfolio is intentional in aligning risk to generate return.
Our thoughts on the issues that matter most to you.
Jul 2024
FIXED INCOME
Ahead of the Curve “Shadow banking system” creates a trickier path for the Fed
Rise in nonbank lending drives banks to shift risk exposure
May 2024
FIXED INCOME
The benefits of hedged diversification
Non-U.S. bonds currently offer higher yields on a currency-hedged basis
Jun 2024
FIXED INCOME
Credit investing for today’s evolving markets
Headwinds call for choosing credit solutions with rigorous research
Our strategies beat their benchmarks more often – and at a higher level – than competitors.*
T. Rowe Price equity and fixed income strategies delivered higher average returns than their benchmarks 80% of the time. Plus, they beat their benchmark more frequently—and with better returns—than the average of all active managers. Dive into our active management composite study and learn more about how we achieved this.See below for standardized returns and other information about the T. Rowe Price composites in this analysis.
Proven Performance
Our fixed income strategies beat their benchmarks 81% of the time.
Our fixed income strategies beat their benchmarks 81% of the time.
They delivered higher average returns than their benchmarks over time. And they showed better results in the vast majority of rolling monthly periods over a 20-year span.
More return. More often.
Ten-year periods, rolling monthly, over the last 20 years ended 12/31/23
Past performance is no guarantee of future results. View standardized returns and other information about the T. Rowe Price composites in this analysis.
With an average of 22 years’ experience across markets and sectors, our fixed income professionals are committed to developing their expertise to help meet your objectives across market cycles.
Arif Husain, CFA®
Head of Global Fixed Income and CIO
Arif Husain is the head of Global Fixed Income and chief investment officer of the Fixed Income Division. He is chairman of the Fixed Income Steering Committee and a member of the firm’s Management Committee. Arif is lead portfolio manager for the Global Government Bond High Quality Strategy. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Matthew Lawton, CFA®
Portfolio Manager
Matt Lawton is a portfolio manager in the Fixed Income Division. He manages the Global Impact Credit Strategy and the Global Impact Short Duration Bond Strategy. Matt is a member of the Investment Advisory Committees for the Corporate Income, New Income, Ultra Short-Term Bond, and Short-Term Bond Funds. He also is a member of the Fixed Income ESG Steering & Advisory and the ESG Committees. Matt is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Samy Muaddi, CFA®
Head of Emerging Markets
Samy Muaddi is the head of Emerging Markets in the 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 is a member of the Investment Advisory Committees of the International Funds, Inc., Global Funds, Inc., Short-Term Bond Fund, Corporate Income Fund, Global Multi-Sector Bond Fund, and New Income Fund. He is a member of the Fixed Income Steering Committee and 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.
Steve Boothe, CFA®
Head of Investment Grade
Steve Boothe is the head of Investment Grade and a portfolio manager in the Fixed Income Division. He has lead portfolio management responsibilities for the Global Investment Grade Corporate Bond, US Investment Grade Corporate Bond, and Dynamic Credit Strategies. He is a member of the Sector Strategy Advisory Group, with a focus on global and U.S. investment-grade corporate bond portfolios. Steve is a co-president of the Investment Advisory Committee of the Corporate Income Fund and a member of the Investment Advisory Committees for the Investment-Grade Corporate Multi-Sector Account Portfolio, Global Multi-Sector Bond Fund, New Income Fund, and Institutional International Disciplined Equity Fund. In addition, he also is an Investment Advisory Committee member of the Institutional Income, International, Global, and China Evolution Equity Funds and an Investment Advisory Committee member of the Institutional Long Duration Credit, Dynamic Credit, and International Disciplined Equity Funds. Steve also is a member of the Fixed Income Steering, Global Trading, and Core/Core Plus Strategy Committees. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Experience our original ideas — contact us.
A broad range of solutions designed to help meet your needs.
Actively managed credit capabilities customized to meet specific guidelines, preference and need.
US Investment Grade Corporate Bond
The strategy seeks current income and capital appreciation primarily through investment grade corporate bonds issued by U.S. domestic corporations.
Global Multi-Sector Bond
Seeks to generate alpha through an effective combination of top-down sector allocation, currency positioning, and interest rate management with high-conviction, bottom-up security selection.
Global High Income Bond
With a focus on global diversification, this strategy targets high yield companies from North America, Europe and Emerging Markets countries.
High Yield Bond
This High Yield strategy seeks to identify issues with above-average yields and the potential for appreciation.
Floating Rate Bank Loans
The strategy seeks high current income and capital appreciation primarily through investment in floating rate bank loans and floating rate debt securities rated below investment grade.
Credit Opportunities
Focus primarily on high yield bonds and floating rate bank loans through a concentrated and flexible approach while opportunistically investing in select special credit situations with an acute emphasis on downside support and risk-adjusted returns.
For investors seeking diversification via portfolios that are benchmark aware and can be expected to improve overall portfolio efficiency.
US Core Bond
Focuses primarily on investment-grade, U.S. fixed income securities, with the ability to integrate non-index sectors and securities for additional diversification and potential yield.
US Total Return Bond
This strategy seeks to offer strong risk-adjusted returns relative to Core Plus peers while seeking to offer a yield premium to the benchmark.
QM U.S. Bond Index Fund
This fund seeks to deliver a portfolio that closely tracks the return of the specified bond index, net of fees, within a clearly defined risk budget.
For investors seeking more flexible, alpha-driven portfolios that exhibit a lower correlation across asset classes.
Dynamic Credit (USD Hedged)
This strategy seeks total return through a combination of income and capital appreciation. Employs a flexible, cross-sector approach to high-conviction security selection.
Dynamic Global Bond
This strategy seeks a regular and consistent return stream that could help anchor portfolio performance in times of equity volatility regardless of the directionality of interest rates.
Dynamic EM Bond
An index agnostic strategy which focuses on the best ideas from across the entire EM bond universe, seeking to add value through active country allocation and individual security selection.
For investors seeking higher return potential, particularly across global credit markets.
Emerging Markets Bond
This strategy seeks current income and capital appreciation primarily through investment in fixed income securities issued by emerging nations.
Emerging Markets Corporate Bond
The primary focus of the strategy is on hard currency corporate debt issued by companies domiciled within emerging market countries.
Emerging Markets Local Currency Bond
The strategy seeks to maximize total return by investing primarily in a widely diversified, global portfolio of bonds with the emphasis on securities denominated in the currencies of the respective emerging countries.
For investors seeking exposure to fixed income assets that offer liquidity, capital preservation, and incremental yield.
Ultra Short-Term Bond Fund
This fund is a multi-sector bond portfolio alongside an actively managed liquidity sleeve.
US Short-Term Bond
The investment goals are to seek to maximize income, deliver a consistent return profile while minimizing principal volatility.
Short Duration Income Fund
The Fund’s flexible approach allows it to seek higher income and total return within the short-term bond universe, while remaining nimble to respond to a wide variety of market conditions.
Important Information
Investment Risks:
Past performance is no guarantee of future results.
All investments are subject to risk, including the possible loss of principal. Fixed income securities are subject to credit risk, liquidity risk, call risk, and interest rate risk. As interest rates rise, bond prices generally fall. Results from other time periods may differ.
Fixed-income securities are subject to credit risk, liquidity risk, call risk, and interest-rate risk. As interest rates rise, bond prices generally fall. Investments in high-yield bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. International investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as specific country, regional, and economic developments. These risks are magnified in emerging markets. Derivatives can be highly volatile, illiquid, and difficult to value, and changes in the value of a derivative may not properly correlate with changes in the value of the underlying asset, reference rate, or index. Diversification cannot assure a profit or protect against loss in a declining market.
All data as of June 30, 2024 unless otherwise stated.
¹The total fixed income assets managed by T. Rowe Price Associates, Inc., and its investment advisory affiliates. Total fixed income assets include all fixed income separate accounts and funds along with a portion of certain T. Rowe Price U.S.-registered multi-asset funds as of June 30, 2024.
Analysis by T. Rowe Price. Represents a comparison of all marketable institutional fixed income composites compared to the official composite primary benchmark assigned to each. Excludes money market, and index/passive composites. In order to avoid double-counting in the analysis, specialized composites viewed as substantially similar to strategies already included (e.g. constrained strategies, ex-single country excluded strategies, etc.) are also excluded. Composite net returns are calculated using the highest applicable separate account fee schedule for institutional clients. All figures in USD. The performance of each T. Rowe Price composite was compared against its official composite primary benchmark using 10-year rolling monthly periods from 1/1/2003 to 12/31/2022.
Analysis aggregates and averages the performance history of 26 fixed income composites covering 2,407 periods.
Effective January 1, 2024, Arif Husain will succeed Andrew McCormick as head of Global Fixed Income.
T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc., are affiliated companies and investment advisers of T. Rowe Price strategies.
202308-3077120