T. Rowe Price - Home
Choose your site Corporate Enterprise Financial Intermediary Institutional Investors/Consultants
Your location and language
English Deutsch
Search
Choose your site Corporate Enterprise Financial Intermediary Institutional Investors/Consultants
Your location and language
English Deutsch
Your location and language
English Deutsch
Financial Intermediary / All Funds / Dynamic Global Bond Fund
Fund Range Documents

Capital at risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

The listed funds are not an exhaustive list of funds available. Visit www.funds.troweprice.com to see the full range of funds offered by T. Rowe Price, including those that consider environmental and social characteristics as part of their investment process.  For up to date information regarding any T. Rowe Price fund's investment strategy, please see the relevant fund KID and prospectus. 

SICAV
Dynamic Global Bond Fund
We use an active, flexible, benchmark-agnostic approach to invest across the full global fixed income opportunity set aiming to provide sustainable returns, capital preservation and diversification from equity risk. The fund is categorised as Article 8 under Sustainable Finance Disclosure Regulation (SFDR).
ISIN LU1216622131
View more information on risks
FACTSHEET
KID
SFDR DISCLOSURE
31-Jul-2024 - Quentin Fitzsimmons, Co-Portfolio Manager,
Investors continue to grapple with various global factors. Volatility has returned and soft US economic data has rekindled talk of recession risk. We see the US economy remaining resilient, however, and expect monetary easing to reassure investors. Political uncertainty could further affect sentiment, so it is important to be flexible and able to adapt to changes.

Overview
Strategy
Fund Summary
We take a flexible approach to fixed income, integrating our high-conviction views on countries, interest rates and yield curves as well as credit security selection. We aim to find a balance between core, return-seeking and defensive positions, seeking to anchor performance in times of market stress. The promotion of environmental and/or social characteristics is achieved through the fund's commitment to maintain at least 50% of the value of its portfolio invested in issuers and/or securities that are rated as ‘Green’ by the T. Rowe Price proprietary Responsible Investor Indicator Model (RIIM). Additionally, we apply a proprietary responsible screen (exclusion list). The manager is not constrained by the fund’s benchmark, which is used for performance comparison purposes only.
Performance - Net of Fees

Past performance is not a reliable indicator of future performance.

31-Jul-2024 - Quentin Fitzsimmons, Co-Portfolio Manager,
Government bond yields declined markedly in July, as softening economic data and central bank comments raised expectations for interest rates cuts in major economies. Within the portfolio, duration management had a neutral impact. Our US curve steepener position added value, as short-dated yields fell more than long-dated yields, as did long duration exposures in China and New Zealand. Our US short duration position detracted, however. In currency, our short position in the Japanese yen weighed as the yen rose in anticipation of monetary tightening, which the Bank of Japan delivered late in the month. Our short position in the Taiwanese dollar was helpful as news headlines over the potential for renewed US-China trade tensions led to negative sentiment. In credit sectors, our long exposure to US high yield through derivatives was effective, as index derivatives outperformed the cash market. Security selection across US high yield and investment-grade credit also added.

Past performance is not a reliable indicator of future performance.

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 and/or key information document (KID) 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. They can also be found along with a summary of investor rights in English at www.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.

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.

Before deciding to invest in the fund, you should read the offering document/prospectus (including its investment objectives, policies and any risk warnings) which are available and may be obtained from any appointed distributors.

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.  

Benchmark: Investors may use the benchmark to compare the fund’s performance. The benchmark has been selected because it is similar to the investment universe used by the investment manager and therefore acts as an appropriate comparator. The investment manager is not constrained by any country, sector and/or individual security weightings relative to the benchmark and has complete freedom to invest in securities that do not form part of the benchmark.

Disclosure on Vendor Indices can be found here.