Morningstar Fund Report  | 14/04/2025Print

T. Rowe Price Funds SICAV - European High Yield Bond Fund A EUR

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
T. Rowe Price Funds SICAV - European High Yield Bond Fund A EUR
Fund-3.7-10.19.70.51.3
+/-Cat0.0-4.92.0-1.8-0.3
+/-B’mrk-0.6-4.4-0.1-2.9-0.6
 
Category: EUR High Yield Bond
Category Benchmark: Morningstar EZN HY Bd GR EUR
Key Stats
NAV
11/04/2025		 EUR 18.74
Day Change 0.23%
Morningstar Category™ EUR High Yield Bond
ISIN LU0596127604
Fund Size (Mil)
11/04/2025		 EUR 67.07
Share Class Size (Mil)
11/04/2025		 EUR 13.44
Max Initial Charge 5.00%
Ongoing Charge
17/02/2025		  1.32%
Morningstar Research
Analyst Report11/12/2024
Elbie Louw, Senior Analyst
Morningstar, Inc

T. Rowe Price European High Yield Bond benefits from a large analyst team and an experienced manager with a solid track record. The strategy earns Morningstar Analyst Ratings of Silver and Bronze for its cheaper share classes, while more...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent25
Process24
Performance
Price
Investment Objective: T. Rowe Price Funds SICAV - European High Yield Bond Fund A EUR
To maximise the value of its shares through both growth in the value of, and income from, its investments.
Returns
Trailing Returns (GBP)11/04/2025
YTD3.15
3 Years Annualised2.60
5 Years Annualised3.66
10 Years Annualised3.84
12 Month Yield 0.00
Management
Manager Name
Start Date
Michael Della Vedova
20/09/2011
Inception Date
20/09/2011

Category Benchmark
Fund BenchmarkMorningstar Benchmark
ICE BofA EurCcy HY xSubFin Ctd TR HEURMorningstar EZN HY Bd GR EUR
Portfolio Profile for  T. Rowe Price Funds SICAV - European High Yield Bond Fund A EUR28/02/2025
Fixed Income
Effective Maturity5.54
Effective Duration2.30
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.410.000.41
Bond98.380.0098.38
Property0.000.000.00
Cash18.2118.33-0.13
Other1.340.001.34
Growth Of 1000 (GBP) 31/03/2025
Fund:  T. Rowe Price Funds SICAV - European High Yield Bond Fund A EUR
Category:  EUR High Yield Bond
Category Index:  Morningstar EZN HY Bd GR EUR
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-7.866.709.19-3.66-10.159.720.471.27
+/- Category-4.664.032.330.02-4.941.99-1.82-0.29
+/- Category Index--1.01-0.57-4.42-0.09-2.90-0.61
% Rank in Category972154599178575
Trailing Returns (GBP)11/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.23   -0.26-0.12
1 Week1.49   0.06-0.05
1 Month0.47   -0.43-0.48
3 Months2.09   -0.67-0.92
6 Months3.30   -0.90-1.22
YTD3.15   -0.63-0.86
1 Year4.68   -1.69-2.71
3 Years Annualised2.60   -1.89-2.97
5 Years Annualised3.66   -0.87-1.29
10 Years Annualised3.84   -0.60-1.27
 
Category: EUR High Yield Bond
Category Index: Morningstar EZN HY Bd GR EUR
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.27---
2024-1.280.430.650.69
20231.80-1.403.145.98
2022-3.86-12.02-1.647.99
2021-3.852.020.71-2.47
2020-12.6316.333.383.91
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearLowHigh1 star
5-YearAverageHigh3 star
10-YearAverageAbove Average2 star
OverallAverageHigh2 star
 
Category :  EUR High Yield BondClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev8.10 %
3-Yr Mean Return1.75 %
 
3-Yr Sharpe Ratio-0.28
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar EZN HY Bd GR EUR  Morningstar EZN HY Bd GR EUR
3-Yr Beta1.171.17
3-Yr Alpha-2.97-2.97
 
Fixed Income Style28/02/2025
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)USD 69
Maturity Distribution %
1 to 323.32
3 to 541.59
5 to 727.47
7 to 101.84
10 to 150.75
15 to 200.00
20 to 301.67
Over 303.36
Effective Maturity5.54
Effective Duration2.30
Credit Quality Breakdown %     %
AAA0.00   BB41.45
AA0.00   B55.22
A0.00   Below B2.62
BBB0.31   Not Rated0.41
 
Category: EUR High Yield Bond
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock0.410.000.41
Bond98.380.0098.38
Property0.000.000.00
Cash18.2118.33-0.13
Other1.340.001.34
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings1
Total Number of Bond Holdings115
Assets in Top 10 Holdings17.54
NameSectorCountry% of Assets
Bracken Midco1 PLC 6.75%United Kingdom2.45
Deuce Finco PLC 5.5%United Kingdom2.23
Carnival Corporation 5.75%United States1.76
Graphic Packaging International LLC 2... United States1.64
Miller Homes Group (Finco) PLC 7.806%United Kingdom1.63
Teva Pharmaceutical Finance Netherlan... Israel1.59
BE Semiconductor Industries NV 4.5%Netherlands1.59
Accorinvest Group SA 5.5%France1.56
Iliad Holding S.A.S. 5.375%France1.55
Maison Finco PLC 6%United Kingdom1.54
 
Increase Decrease New since last portfolio
Category: EUR High Yield Bond
 
Management
Name of CompanyT. Rowe Price (Luxembourg) Management S.à r.l.
Phone+441268466339
Websitewww.troweprice.com
Address35, Boulevard du Prince Henri
 Luxembourg   L-1724
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date20/09/2011
Fund Advisor(s)
T. Rowe Price International Ltd
Fund ManagerMichael Della Vedova
Manager Start Date20/09/2011
Career Start Year1994
Education
University of New South Wales, B.C.
University of New South Wales, LL.B.
 
Biography
Mike Della Vedova is a global high yield portfolio manager in the Fixed Income Division. He is a portfolio manager for the Europe High Yield Bond Strategy and co-portfolio manager for the Global High Yield Bond and Global High Income Bond Strategies. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd. Mike's investment experience began in 1994, and he has been with T. Rowe Price since 2009, beginning in the Fixed Income Division. Prior to this, Mike was cofounder and partner of Four Quarter Capital, a credit hedge fund focusing on below investment-grade European corporate debt. Mike also was employed by Muzinich & Company as a senior analyst and assistant portfolio manager in London. Mike earned an LL.B. and a B.Com. in finance from the University of New South Wales and a Graduate Diploma in Legal Practice from the University of Technology, Sydney. He also was admitted as a solicitor to the Supreme Court of New South Wales.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.15%
Ongoing Charge1.32%
Purchase Details
Minimum Investments
Initial-
Additional100  EUR
Savings-
Tax Free Savings Schemes
ISAsYes