T. Rowe Price Emerg Mkts Lcl Ccy Bd
PRELX
NASDAQ- -
USD
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Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- Baltimore, MD 21202 Baltimore MD United States of America 21202
- IPO Date
- May 27, 2011
- CIK
- 0000313212
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price Emerging Markets Local Currency Bond Fund (PRELX) is an open-end mutual fund that seeks high income and capital appreciation by investing primarily in bonds denominated in emerging markets currencies and derivative instruments providing exposure to such securities. Under normal conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in these debt instruments, focusing on securities where fixed-income returns and currency exchange rates offer attractive opportunities or where currency risk can be hedged; its portfolio emphasizes government bonds (88.09%), cash equivalents (6.12%), and government-related debt (3.80%), with top holdings including South Africa (Republic of) 8.875%, United States Treasury Bills, T. Rowe Price Government Reserve Fund, Poland (Republic of) 6%, and Mexico (United Mexican States) 8.5%. The fund targets emerging markets across Latin America, Eastern Europe, Africa, the Middle East, and Asia, maintaining non-US bond exposure at approximately 79.42%, cash at 13.30%, and US bonds at 3.78%; it is classified in the Morningstar Emerging-Markets Local-Currency Bond category with mid credit quality and moderate interest-rate sensitivity. Launched on May 26, 2011, and managed by Andrew Keirle since inception, PRELX is domiciled in the United States with total net assets of approximately $300-333 million, a net expense ratio of 1.02%, and a minimum initial investment of $2,500. As of late 2025, T. Rowe Price Group, the fund's sponsor, entered a strategic collaboration with Goldman Sachs, under which Goldman Sachs intends to invest up to $1 billion through open-market purchases to support joint initiatives in private markets.