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T. ROWE PRICE FIXED INCOME

50 years of investing in fixed income




When T. Rowe Price founded its fixed income division in 1971, the world was a very different place. The term “emerging markets” had not yet been coined, the first junk bond boom was a decade away, and for most investors the only tools in the fixed income toolkit were domestic government bonds. In the five decades that followed, our bond expertise evolved as fast as the markets did.

Over the years, we have navigated multiple market crises and followed new asset classes as they grew from infancy. When we talk about T. Rowe Price’s “deep expertise”, we’re referring to that institutional memory, and the sound judgment born of long experience. Join our investment professionals as they reflect on their own careers, the evolution of their asset classes – and lessons for the future.


Everything we've learned goes into your portfolio

 

How do you measure 50 years?


The milestones of our fixed income journey – watch the video

 

Three fixed income leaders reminisce

 

Watch as Mark Vaselkiv - former CIO of Fixed Income, Cheryl Mickel – Portfolio Manager, and Mike Conelius – former Head of Emerging Markets Debt, share their memories of 30 years in the business, challenges faced, and lessons learned.


 
Brochure

Take a trip to 1975

Our first fixed income brochure

The world in 1971

As we were setting up our first fixed income team in Baltimore (comprising two people), the world was a rapidly changing place and far reaching events were underway, including...

  • Apollo 14 Moon landing
  • US May Day Protests against Vietnam war
  • Suspension of Gold Standard
  • Nasdaq opened
  • China admitted to United Nations
  • Start of North Sea oil production in Norway
  • First single-chip microprocessor introduced by Intel

Looking back, looking forward

Reflections from our investment professionals.


Experience in action

Investment strategies that have stood the test of time


Isn't it time to explore?

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GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. T. Rowe Price has been independently verified for the 27-year period ended June 30, 2023, by KPMG LLP. The verification report is available upon request. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis. Verification does not provide assurance on the accuracy of any specific performance report.

TRP is a U.S. investment management firm with various investment advisers registered with the U.S. Securities and Exchange Commission, the U.K. Financial Conduct Authority, and other regulatory bodies in various countries and holds itself out as such to potential clients for GIPS purposes. TRP further defines itself under GIPS as a discretionary investment manager providing services primarily to institutional clients with regard to various mandates, which include U.S, international, and global strategies but excluding the services of the Private Asset Management group.

A complete list and description of all of the Firm's composites and/or a presentation that adheres to the GIPS® standards are available upon request. Additional information regarding the firm's policies and procedures for calculating and reporting performance results is available upon request

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