T. Rowe Price Group, Inc. · NASDAQ:TROW
T. Rowe Price — Debt Investor Presentation (September 2025)
28 slides from T. Rowe Price's debt investor presentation, September 2025
Slide 1: A one-stop fixed income solution
T. Rowe Price Funds SICAV―Diversified Income Bond A one-stop fixed income solution Kenneth Orchard, CFA Portfolio Manager September 2025 THIS MARKETING MATERIAL IS FOR INVESTMENT PROFESSIONALS ONLY. NOT FOR FURTHER DISTRIBUTION. T. R O W E P R I C E 1
Slide 2: Kenneth Orchard, CFA, Lead Portfolio Manager
T. Rowe Price Funds SICAV―Diversified Income Bond Kenneth Orchard, CFA Lead Portfolio Manager Head of International Fixed Income T. R O W E P R I C E 2
Slide 3: Why diversify your portfolio now?
Why diversify your portfolio now? T. R O W E P R I C E 3
Slide 4: Monetary Policy: Active selection across countries matters
Active selection across countries matters As of 30 June 2025 Illustrative Interest Rate Cycle Start of Easing End of Easing Start of Hiking End of Hiking policy rates going down and monetary policy rates and stimulus likely to policy rates likely to rise and stimulus policy rates likely to peak and
Slide 5: Agile allocations across sectors is crucial
Agile allocations across sectors is crucial As of 30 June 2025 Figures shown in table are percentages (%) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 YTD CMBS US TIPs EM Hard US HY HY Muni Muni US HY EM Local HY Muni Global HY US TIPs HY Muni Bank Loans EM Local B
Slide 6: Diversified Income Bond Fund
T. Rowe Price Funds SICAV Diversified Income Bond Fund T. R O W E P R I C E 6
Slide 7: Objective and Risks
Objective and Risks T. Rowe Price Funds SICAV—Diversified Income Bond Fund Risks – the following risks are materially relevant to the fund (refer to prospectus for further details) Objective ▪ ABS and MBS – Asset-Backed Securities (ABS) and Mortgage-Backed Securities (MBS) may be subject to greater
Slide 8: Aiming to deliver attractive income and total returns, while actively managing risk
Aiming to deliver attractive income and total returns, while actively managing risk As of 31 August 2025 High-yield like Globally Controlled performance with diversified risk investment grade risk portfolio profile ▪ Index-beating performance over ▪ 240+ fixed income professionals ▪ The fund is co
Slide 9: Disciplined and repeatable investment process
Disciplined and repeatable investment process Understand Sector Integrated markets and and security portfolio economics selection construction Research-based Leveraging our extensive Quantitative and qualitative risk approach, focused on research platform to analysis to select the best getting the t
Slide 10: Portfolio management across markets and sectors
(L) London Portfolio management across markets and sectors (H) Hong Kong (B) Baltimore As of 30 June 2025 Lead Portfolio Managers Sector Portfolio Managers Sets sector allocation, risk budget, currency and Working with the lead portfolio manager to incorporate the top-down view, sector portfolio man
Slide 11: With strong performance over short and long-term
With strong performance over short and long-term As of 31 August 2025 | Figures are calculated in USD Annualised Inception Three Year-to- One Three Five Seven Since date months date year years years years inception Class A (USD)1 15 Dec 2016 2.11% 4.15% 5.07% 5.73% 1.98% 3.01% 3.11% Bloomberg Global
Slide 12: Delivering where we said we would
Delivering where we said we would As of 31 August 2025 3 years performance contribution – annualised (bps) Country 248 Currency 15 Sector/Security 356 0 25 50 75 100 125 150 175 200 225 250 275 300 325 350 375 400 Past performance is not a guarantee or a reliable indicator of future results. T. Rowe
Slide 13: Current views from the DIB team
Current views from the DIB team As of 31 August 2025 Elevated U.S. inflation risks Eurozone growth dynamics European credit preferred to the U.S. and loosening fiscal policy ▪ Inflation risks are skewed to the upside ▪ Europe faces a near-term growth ▪ European IG credit screens more from a combinat
Slide 14: The four Ds of DIB
The four Ds of DIB ▪ Durable and consistent income ▪ Dynamic and flexible approach ▪ Diversified duration and credit exposure ▪ Deep fundamental research T. R O W E P R I C E 14
Slide 15: Durable and consistent income
First “D” – Duration and consistent income Durable and consistent income – to cushion against market volatility T. Rowe Price Funds SICAV—Diversified Income Bond Fund Seeks stable, moderately high income (current DIB yield vs. carry breakeven yield offers solid target 7.00%)1 over the medium term bu
Slide 16: Dynamic and flexible approach – to navigate macro uncertainty
Second “D” – Dynamic and flexible approach Dynamic and flexible approach – to navigate macro uncertainty T. Rowe Price Funds SICAV—Diversified Income Bond Fund | As of 31 August 2025 T. Rowe Price Funds SICAV—Diversified Income Bond Fund Portfolio allocation range Developed Market Sovereigns Emergin
Slide 17: Diversified duration & credit exposure
Third “D” – Diversified duration & credit exposure Diversified duration & credit exposure As of 31 August 2025 Dynamic global duration and credit management to defend capital and add value during volatility U.S. Canada Investment Grade High Yield Option-adjusted duration of IG and HY Eurozone UK Aus
Slide 18: Deep fundamental research – to generate bottom-up alpha
Fourth “D” – Deep fundamental research Deep fundamental research – to generate bottom-up alpha T. Rowe Price Funds SICAV – Diversified Income Bond Fund | As of 30 September 2024 ▪ We are positive on the issuer’s potential 1-year local bond Coca Cola İçecek: Turkey-based, a world- ▪ The offer was 47%
Slide 19: Performance and Outlook
Performance and Outlook T. R O W E P R I C E 19
Slide 20: Performance since inception
Performance since inception1 T. Rowe Price Funds SICAV—Diversified Income Bond Fund | As of 31 August 2025 Distribution of monthly return (absolute) Performance pattern 33 negative months 70 positive months Over the last 103 months 18 17 16 Number of periods 14 12 11 11 10 10 10 68% monthly success
Slide 21: Attractive returns vs. Global Aggregate, lower risk vs. High Yield
Attractive returns vs. Global Aggregate, lower risk vs. High Yield As of 31 July 2025 5 - Year Risk / Return 5.0% Global High Yield (GBP-hedged) Diversified Income Bond (GBP- Total Return % 3.0% hedged) 1.0% Euro Investment Grade (GBP- Global Aggregate Corporates (GBP- hedged) hedged) -1.0% 4.0% 5.0
Slide 22: Adding Diversified Income Bond to your portfolio can improve risk/return
Adding Diversified Income Bond to your portfolio can improve your risk / return profile As of 31 August 2025 from launch Diversified Income Bond (GBP-hedged, Gross of fees) & Global Agg (GBP-hedged) 3.5% 100% DIB 3.0% Returs (Annualized) 2.5% 2.0% 1.5% 10% DIB/90% Global Agg 1.0% 100% Global Agg 0.5
Slide 23: A portfolio to actively manage your core fixed income allocation
A portfolio to actively manage your core fixed income allocation As of 31 August 2025 T. Rowe Price funds SICAV – Bloomberg Global Aggregate Bond USD Diversified Income Bond Hedged Index1 Weighted average quality A- AA- Weighted average duration 2.43 years 6.37 years Duration times spread* 4.56 3.38
Slide 24: Why SICAV―Diversified Income Bond?
Why T. Rowe Price Funds SICAV―Diversified Income Bond? As of 31 July 2025 One-stop Attractive total solution return potential Efficiently access our A portfolio offering an expertise through all market attractive income stream cycles, to adapt to changing and total return potential, market condition
Slide 25: Appendix
T. ROWE PRICE INVEST WITH CONFIDENCE* | 25
Slide 26: Our approach to ESG investing
Our approach to ESG investing 1 ESG Integration 2 Responsible Exclusions 3 Sustainable Investing Criteria SFDR classification: Article 8 4 Principal Adverse Impact (PAI) Indicators 2 ESG integration T. Rowe Price Responsible exclusion 10% minimum Sustainable Investments1 PAI indicators are taken int
Slide 27: Additional Disclosures
Additional Disclosures Competitor data are sourced from Nasdaq’s eVestment Analytics database and calculated on available net performance over manager-selected benchmark figures for comparable products selected based on eVestment Primary Universe and eA Universe Classifications. All fixed income com
Slide 28: Important Information
Important Information The Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital which is registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective investment in transferable securities (“
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