Please note: The T. Rowe Price investment products mentioned herein are not registered for sale in all jurisdictions from T. Rowe Price. This is not intended to be an offer or solicitation for any of these products.
Strategy
Investment Objective
To maximise the value of its shares through both growth in the value of, and income from, its investments. The fund invests mainly in a diversified portfolio of high yield corporate bonds from issuers around the world, including emerging markets.Investment Approach
- Focus on BB/B securities, with a measured allocation to lower-quality bonds when valuations are compelling.
- Proprietary fundamental research is key — emphasis on industries that enjoy stable cash flow and rational competitive environments.
- Extensive analyst interaction across sectors and asset classes promotes broad credit perspective.
- Disciplined risk management practices employed in conjunction with broad portfolio diversification to manage risk profile.
- Environmental, social and governance ("ESG") factors with particular focus on those considered most likely to have a material impact on the performance of the holdings or potential holdings in the funds’ portfolio are assessed. These ESG factors, which are incorporated into the investment process alongside financials, valuation, macro-economics and other factors, are components of the investment decision. Consequently, ESG factors are not the sole driver of an investment decision but are instead one of several important inputs considered during investment analysis.
Past performance is not a reliable indicator of future performance.
Risks
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