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T. Rowe Price Hong Kong / All Funds / Global High Income Bond Fund
Fund Range Documents

Risk Considerations

  1. The Fund is actively managed and invests mainly in a diversified portfolio of high yield corporate debt securities from issuers around the world, including emerging markets. The Fund may invest up to 40% of its net asset value in emerging markets.
  2. Investment in the Fund involves risks, including general investment risk, currency risk, geographic concentration risk, exclusion criteria risk and emerging markets risk 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, volatility/liquidity risk in emerging markets, downgrading risk, credit rating risk, risk associated with high yield debt securities which are generally rated below investment grade or unrated, 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 debt securities and credit indices, and is subject to derivatives risk. The Fund may also implement active currency position and is subject to relevant risks. Exposure to derivatives may also lead to a risk of significant loss to 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. The value of the Fund can be volatile and could go down substantially.
  7. 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
Global High Income Bond Fund
Seeks to maximise the value of its shares through both growth in the value of, and income from, its investments.
ISIN LU1216622560
Bloomberg TRPGHIA LX
FACTSHEET
Key Fact Statement
SFDR DISCLOSURE
31-Aug-2016 - Mark Vaselkiv Chief Investment Officer, Fixed Income,
Although some key risk events have now passed, we still have concerns about China. It is also likely that upcoming political events including a referendum in Italy on constitutional reform in October and the U.S. presidential election in November will gain more focus. These developments could potentially hurt sentiment toward risk assets, which in turn could lead to issuers being more cautious on bringing new deals to the market.

Strategy
Fund Summary
Actively managed and invests mainly in a diversified portfolio of high yield corporate debt securities from issuers around the world, including emerging markets. The Fund may invest up to 40% of its net asset value in emerging markets.
Performance (Class A)

Past performance is not a reliable indicator of future performance.

31-Oct-2023 - Mike Della Vedova Co-Portfolio Manager,
We have maintained our overweight allocation to the cable operators segment as these issuers typically provide stability during times of market volatility. We are overweight broadcasting as it appears attractive on valuation grounds, although we are selective on picking credits. We continue to hold an overweight exposure to automotives but have moved away from credits susceptible to the strikes by United Auto Workers into more global parts manufacturers.
31-Oct-2023 - Mike Della Vedova Co-Portfolio Manager,
We do not expect to add value via currency management; we typically hedge our non-US dollar exposure back to US dollars in order to limit volatility, keeping the focus on credit selection.

Risks

The following risks are materially relevant to the fund. Please click here to view the definitions of the risks listed below.

  • Credit risk
  • Liquidity risk
  • Counterparty risk
  • Operational risk
  • Derivatives risk
  • Geographic concentration risk
  • Sector concentration risk
  • Default risk
  • Hedging risk
  • Investment fund risk
  • Management risk
  • Frontier markets risk
  • Interest rate risk
  • Emerging markets risk
  • Contingent Convertible Bond
  • High yield bond
  • ESG
  • Market risk 

 

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 high yield bonds and in derivatives

Disclosure on Vendor Indices can be found here.