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T. Rowe Price Hong Kong / All Funds / Diversified Income Bond Fund
Fund Range Documents
Risk Considerations
  1. 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. 
  2. Investment in the Fund involves risks, including general investment risk, currency risk, emerging markets risk, exclusion criteria risk and Reminbi (RMB) currency and conversion risks which may result in loss of a part or the entire amount of your investment.  
  3. 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. 
  4. The Fund may use derivatives for hedging, efficient portfolio management and investment purposes or to create synthetic short positions in currencies, debt securities, credit indices and equities, and is subject to the risk associated with derivatives. Exposure to derivatives may lead to a risk of significant loss by the Fund.
  5. Dividend of certain share class(es) may be paid directly out of capital and/or effectively out of the capital which 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 (Note 1). 
  6. Investments in share class(es) with fixed annual percentage rate (Class A8p, Class A8p (HKD), Class A8pn (CNH), Class A8pn (AUD) and Class A8pn (JPY)) are not an alternative to a savings account or fixed interest paying investment. The fixed annual percentage rate is not guaranteed. The percentage of distributions paid is unrelated to the actual or expected income or returns of these share classes or the Fund. Distribution will continue even the Fund has negative returns, which further reduces the net asset value. A positive distribution yield does not imply a high or positive return.  
  7. The value of the Fund can be volatile and could go down substantially.
  8. Investors should not invest in the Fund solely based on this website.

 

 

Investment involves 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.

SICAV
Diversified Income Bond Fund
Seeks to maximise the value of its shares through both growth in the value of, and income from, its investments.
ISIN LU1244139074
Bloomberg TRPGMSA LX
FACTSHEET
Key Fact Statement
SFDR DISCLOSURE
30-Sep-2017 - Steven C. Huber, Portfolio Manager,
Global liquidity and supportive financial conditions persist despite signals from global central bank officials that years of ultra-loose monetary policy may be nearing an end. We remain cautious on credit as valuations continue to tighten. Beta opportunities from foreign exchange and duration appear limited; thus, we are currently focused on country-specific alpha opportunities.

Strategy
Fund Summary
Actively managed and invests mainly in a diversified portfolio of debt securities of all types from issuers around the world, including emerging markets.
Performance (Class A)

Past performance is not a reliable indicator of future performance.

30-Sep-2017 - Steven C. Huber, Portfolio Manager,
The small amount of carry available in credit justifies keeping risk in the portfolio at historical lows. We currently hold a short 4% position in High Yield (HY) CDX (i.e., short U.S. HY risk) and a short 1% position in the iTraxx crossover (i.e., short European HY risk) to further reduce beta.
30-Sep-2017 - Steven C. Huber, Portfolio Manager,
The portfolio moved from a slight underweight of the U.S. dollar to an overweight as the U.S. dollar showed signs of rebounding off several months of weakness. In other currency moves, we initiated a short position in the Australian dollar which appears overbought, closed out our long Mexican peso on rich valuation, and reduced our long Turkish lira following positive actions by the central bank.

Risks

The following risks are materially relevant to the fund.  See “Risk Descriptions” section in the Prospectus (Fund Range Documents) for more information:

  • China Interbank Bond Market
  • Counterparty
  • Country risk – Russia and Ukraine
  • Credit
  • Currency
  • Default
  • Derivatives
  • Emerging markets
  • Geographic concentration
  • Hedging
  • High Yield Bond Risk
  • Interest rate
  • Investment fund
  • Issuer concentration
  • Liquidity Management
  • Market
  • Operational
  • Prepayment and extension
  • Sector concentration

Typical Investor

Investors who plan to invest for the medium to long term, and who:

• are interested in a combination of income and investment growth
• understand and can accept the risks of the fund, including the risks of investing in global bond markets and in derivatives

Disclosure on Vendor Indices can be found here.