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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
US Aggregate Bond Fund
The actively managed diversified portfolio aims to generate revenue from investment in a portfolio of US government, corporate, and asset-backed debt. Environmental, Social and Governance (ESG) considerations are integrated into the investment process as a component of the investment decision. The fund is categorised as Article 8 under Sustainable Finance Disclosure Regulation (SFDR).
ISIN LU0181329318
Bloomberg TRUABIC LX
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FACTSHEET
KID
SFDR DISCLOSURE
No data available
28-Feb-2025 - Anna Dreyer, Co-Portfolio Manager,
We think credit spreads could continue to widen modestly, but we do not see a catalyst for a significant move wider. Moreover, we believe further widening could represent a buying opportunity, particularly if recent weakness is indeed a short-term soft patch rather than the beginning of a broader slowdown in the US economy.

Overview
Strategy
Fund Summary
Our approach is based on proprietary fundamental research and relative value analysis. The investment manager seeks to add value primarily through sector allocation, duration management, and security selection. The investment process places a strong emphasis on risk management practices and portfolio diversification to manage the overall risk profile. The promotion of environmental and/or social characteristics is achieved through the fund's commitment to maintain at least 10% of the value of its portfolio invested in Sustainable Investments, as defined by the SFDR. 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.
No data available
Performance (Class I)

Past performance is not a reliable indicator of future performance.

Current Year Performance

Annualised Performance

28-Feb-2025 - Anna Dreyer, Co-Portfolio Manager,
The US investment-grade (IG) fixed income market, as measured by the Bloomberg US Aggregate Bond Index, produced a second consecutive month of positive results in February as falling US Treasury yields led to the strongest performance for the benchmark since July of last year. Within the portfolio, interest rate management in the US was the largest contributor to relative returns. Our overweight exposure to the five-year key rate, which saw the biggest decline in yields, added value. Security selection in credit sectors was another source of strength, led by our holdings in the IG corporate sector. Selection in asset-backed securities was also a small positive factor. Conversely, selection in agency mortgage-backed securities and government-related emerging markets bonds was a partially offsetting factor. Sector allocation had little impact on relative results. An out-of-benchmark position in collateralised loan obligations contributed slightly, but was largely offset by our underweight exposure to government-related agency debt.
31-Jan-2024 - Steve Bartolini, Portfolio Manager,
We added to our allocations in Treasury inflation protected securities (TIPS) and asset-backed securities (ABS) during the month. We believe TIPS could benefit from a near-term rebound in economic data, while ABS looked attractive relative to corporate bonds. Conversely, we reduced our overweight allocation to investment-grade corporates as credit spreads tightened, while also increasing our underweight to nominal US Treasuries and reducing our position in the fundamentally challenged commercial mortgage-backed securities sector to near zero.

Team

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Fees

No data available

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.