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RISK CONSIDERATIONS
- The Fund is actively managed and invests mainly in a diversified portfolio of debt securities of all types from issuers around the world, including emerging markets.
- Investment in the Fund involves risks, including general investment risk, emerging markets risk, exclusion criteria risk and currency risk which may result in loss of a part or the entire amount of your investment.
- The investment in debt securities is also subject to credit/counterparty risk, interest rate risk, downgrading risk, credit rating risk, risk associated with high yield debt securities which are generally rated below investment grade or unrated, sovereign debt risk, risk associated with investments in debt instruments with loss-absorption features and valuation risk.
- The Fund may use derivatives for hedging, efficient portfolio management and investment purposes and is subject to the risk associated with derivatives. Exposure to derivatives may lead to a risk of significant loss by the Fund.
- For Class Ax and Class Ax (HKD), dividends are paid on a discretionary basis. Dividends may be paid directly out of capital and/or effectively out of the capital of the share class by distributing all gross income prior to the deduction of any fees and expenses attributable to the share class. Payment of dividends directly out of capital and/or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any such distribution may result in an immediate reduction of net asset value per share. This could also erode capital and constrain future growth.
- The value of the Fund can be volatile and could go down substantially.
- Investors should not invest in the Fund solely based on this website.
Why invest?
Potential for stable and attractive income
- Class Ax (USD) aims to pay dividends on a monthly basis
- Annualised dividend yield: 6.88%¹ (Dividends are not guaranteed and may be paid out of capital. Please refer to note 5 of “Risk Considerations”)
Truly global diversified portfolio
Helps to identify the most attractive opportunities across:
- 15+ major fixed income sectors across global governments, corporates (investment grade and high yield) and securitised bonds
- 80+ countries in developed and emerging markets
- 40+ currencies²
Controlled risk profile
- Current average credit quality: A³
- Seeks to maintain minimum average credit rating at investment-grade level
Learn more from the portfolio manager Ken Orchard on the strategy and its key benefits for investors.
Fund at a glance
Diversified Income Bond Fund
The Fund is actively managed and invests mainly in a diversified portfolio of debt securities of all types from issuers around the world, including emerging markets.
Inception date (Class A)
15 December 2016
Base currency
USD
Annual management fee*
Up to 0.84% (Class A)
ISIN code
LU1244139074 (Class A)
LU1676121723 (Class Ax - USD)
Bloomberg code
TRPGMSA LX (Class A)
TRPDIAX LX (Class Ax - USD)
Benchmark^
Bloomberg Global Aggregate Bond USD Hedged Index
*Full details of the fees payable by investors are available within the offering document.
^This benchmark is shown for comparison purposes only.
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- As of 31 May 2024. Annualised Dividend Yield (%) = (Dividend per share / Ex-Dividend Date NAV) x 12 x 100. Positive dividend yield does not imply positive return.
- The majority of the currency exposure will be hedged back to the U.S. dollar.
- As of 31 May 2024. Credit ratings for the securities held in the Fund are provided by Moody’s, Standard & Poor’s and Fitch and are converted to the Standard & Poor’s nomenclature. A rating of "AAA" represents the highest-rated securities, and a rating of "D" represents the lowest-rated securities. When a rating is available from all three agencies, the median rating is used. If there are two ratings, the lower rating is used and if only one rating is available, that rating is used. If a rating is not available, the security is classified as Not Rated (NR). The rating of the underlying investment vehicle is used to determine the creditworthiness of credit default swaps and sovereign securities. The Fund is not rated by any agency.
Additional Disclosures
“Bloomberg®” and the Bloomberg Indices are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by T. Rowe Price. Bloomberg is not affiliated with T. Rowe Price, and Bloomberg does not approve, endorse, review, or recommend this product. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to this product.
Important Information
Unless otherwise stated, all data is as of 31 May 2024 and sourced from T. Rowe Price. Certain numbers in this website may not add due to rounding and/or the exclusion of cash.
This website is being furnished for general informational purposes only. The website does not constitute or undertake to give advice of any nature, including fiduciary investment advice, nor is it intended to serve as the primary basis for an investment decision. Prospective investors are recommended to seek independent legal, financial and tax advice before making any investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc. and/or its affiliates receive revenue from T. Rowe Price investment products and services. Past performance is not a reliable indicator of future performance. 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.
The website does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The website has not been reviewed by any regulatory authority in any jurisdiction.
Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources’ accuracy or completeness. There is no guarantee that any forecasts made will come to pass.
Investment involves risks. Investors should refer to the offering documents for full details including the objectives, investment policies and risks factors.
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