SICAV
Emerging Markets Bond Fund
This is our flagship hard currency emerging markets debt portfolio. It offers broad exposure across emerging markets debt, with a credit-orientated approach that is broadly representative of external sovereign and corporate markets.
ISIN LU1328257263
View more information on risks
FACTSHEET
KIID
COMMENTARY

The commentaries as of the previous month end are not available. Please check back soon.

Average
Coupon
5.48%
Data as of: 31-Mar-2021
Average
Maturity
12.50yrs
Data as of: 31-Mar-2021
Average
Duration
7.86 yrs
Data as of: 31-Mar-2021
Fund Size
(USD)
$274.8m
Data as of: 31-Mar-2021
Perf Chg
(Daily)
0.67%
Data as of: 15-Apr-2021
3YR Return
(Cumulative)
5.36%
IA Sector ranking: N/A
Data as of: 31-Mar-2021
Risk & Reward
(SRRI)?
1 2 3 4 5 6 7 Data as of: 31-Mar-2021
NAV
(USD)
$13.48
Data as of: 15-Apr-2021

1YR Return
19.6%
IA Sector ranking: N/A
Data as of: 31-Mar-2021

Overview
Strategy
Fund Summary
We follow a bottom-up selection process grounded in individual credit fundamentals, guided by selected top-down themes. Proprietary credit research is integrated with relative value analysis. We utilise our emerging markets sovereign and corporate bond analysts as well as collaborating with our emerging markets equity analysts.
Interest Rate Sensitivity
LIMITED
MODERATE
EXTENSIVE

217
Holdings

Average
Quality
BB
Risk & Reward Data
Information Ratio
-0.13
Sharpe Ratio
0.30
Historical Tracking Error
3.43%
Performance
YTD 1 year 3 year

Cumulative

5 year

Cumulative

Since Inception

Cumulative

Fund -4.08% 19.60% 5.36% 25.17% 31.80%
IA Sector Ranking N/A N/A N/A N/A N/A
IA Sector N/A N/A N/A N/A N/A
Excess Return N/A N/A N/A N/A N/A
Indicative Benchmark -4.54% 16.00% 12.63% 27.95% 34.96%
Excess Return 0.46% 3.60% -7.27% -2.78% -3.16%

Data as of 31-Mar-2021

Holdings
Total
Holdings
217
Top 10
30.69%
Largest
Bahamas Government International Bond
2.70%
Was ( 31-Dec-2020 )
2.47%
Data as of 31-Mar-2021
Duration
Maturity
Quality
Average
7.86 yrs
Average
12.50yrs
Average
BB
Top
Over 10 Years
29.24%
Was ( 28-Feb-2021 )
31.89%
Top
10+ Years
37.03%
Was ( 28-Feb-2021 )
37.38%
Top
BB
28.14%
Was ( 28-Feb-2021 )
30.52%
Over
5-7 Years
By 8.41%
Fund
26.05%
Benchmark*
17.64%
Over
Cash Equivalents
By 4.14%
Fund
4.14%
Benchmark*
0.00%
Over
BB
By 10.13%
Fund
28.14%
Benchmark*
18.01%
Under
1-3 Years
By -9.88%
Fund
6.21%
Benchmark*
16.10%
Under
1-3 Years
By -3.63%
Fund
10.31%
Benchmark*
13.94%
Under
A
By -12.90%
Fund
3.89%
Benchmark*
16.79%
Sectors
Total
Sectors
5
Largest
Sovereign
64.08%
Was ( 28-Feb-2021 )
63.68%
Over
Corporate
By 17.67%
Fund
17.80%
Benchmark*
0.14%
Under
Sovereign
By -18.49%
Fund
64.08%
Benchmark*
82.58%
Data as of 31-Mar-2021
Data as of 31-Mar-2021
Indicative Benchmark: J.P. Morgan Emerging Markets Bond Index Global Diversified

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Regions
Data as of
Countries
Total
Countries
60
Largest
Mexico
10.25%
Was ( 28-Feb-2021 )
10.06%
Over
Mexico
By 6.15%
Fund
10.25%
Benchmark*
4.10%
Under
Malaysia
By -2.69%
Fund
0.00%
Benchmark*
2.69%
Data as of 31-Mar-2021
Data as of 31-Mar-2021
Indicative Benchmark: J.P. Morgan Emerging Markets Bond Index Global Diversified

* The index shown is not a formal benchmark. It is shown only for comparison purposes.

Currency
Total
Currencies
10
Largest
U.S. dollar
98.97%
Was ( 28-Feb-2021 )
99.51%

Over
Chinese renminbi
By 0.76%
Fund
0.76%
Benchmark*
0.00%
Under
U.S. dollar
By -1.03%
Fund
98.97%
Benchmark*
100.00%
Data as of 31-Mar-2021
Indicative Benchmark: J.P. Morgan Emerging Markets Bond Index Global Diversified

* The index shown is not a formal benchmark. It is shown only for comparison purposes.


Team
Michael Conelius,
Portfolio Manager
Michael Conelius is a portfolio manager in the Fixed Income Division. He is lead manager of T. Rowe Price's Emerging Markets Bond Strategy.
Portfolio Manager since
2004
Years at
T. Rowe Price
32
Years investment experience
32
Samy Muaddi,
Portfolio Manager
Samy Muaddi is a portfolio manager in the Fixed Income Division. He is co-portfolio manager of the Emerging Markets Bond, Emerging Markets Corporate Bond and Global High Income Bond strategies.
Portfolio Manager since
2020
Years at
T. Rowe Price
14
Years investment experience
14
Benjamin Robins,
Portfolio Specialist
Ben Robins is a fixed income portfolio specialist. He is a member of the Global Fixed Income team, supporting our emerging market debt strategies.
Years at T. Rowe Price
3
Years investment experience
19
Michael Ganske,
Portfolio Specialist
Michael Ganske is a fixed income portfolio specialist for T. Rowe Price. He is a member of the Global Fixed Income team, supporting our emerging markets debt strategies, which includes hard currency- and local currency-denominated sovereign and corporate debt. He represents the portfolio management team, presenting strategies and market outlooks in meetings and conferences.
Years at T. Rowe Price
1
Years investment experience
20
How to Invest
Fees Minimum Initial Investment and Holding Amount Minimum Subsequent Investment Sales Charge (up to) Investment Management Fee Ongoing
Charges1
? UK Tax Reporting Status

Indicative Benchmark Data Source: JP Morgan. Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan’s prior written approval. Copyright © 2021, J.P. Morgan Chase & Co. All rights reserved.

Past performance is not a reliable indicator of future performance.

Source for 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.

Daily performance data is based on the latest available NAV.  

The Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital which is registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective investment in transferable securities (“UCITS”). Full details of the objectives, investment policies and risks are located in the prospectus which is available with the key investor information documents in English and in an official language of the jurisdictions in which the Funds are registered for public sale, together with the articles of incorporation and the annual and semi-annual reports (together “Fund Documents”). Any decision to invest should be made on the basis of the Fund Documents which are available free of charge from the local representative, local information/paying agent or from authorised distributors and via www.troweprice.com.

Please note that the Fund typically has a risk of high volatility.

Hedged share classes (denoted by 'h') utilise investment techniques to mitigate currency risk between the underlying investment currency(ies) of the fund and the currency of the hedged share class.  The costs of doing so will be borne by the share class and there is no guarantee that such hedging will be effective.

The specific securities identified and described in this website do not represent all of the securities purchased, sold, or recommended for the sub-fund and no assumptions should be made that the securities identified and discussed were or will be profitable.

A full list of the currently issued Share Classes including Distributing, Hedged, and Accumulating Categories may be obtained, free of charge and upon request, from the registered office of the Company.  

1 Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.

The Morningstar rating is sourced from Morningstar.

©2021 Morningstar, Inc.  All Rights Reserved.  The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely.  Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Citywire - where the Fund manager is rated by Citywire the rating is based on the manager's 3 year risk adjusted performance.