T. Rowe Price Emerging Mkts Corp Bd
TRECX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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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.Quarterly Dividends 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 25, 2012
- CIK
- 0000313212
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price Emerging Markets Corporate Bond Fund (TRECX) is an open-end mutual fund that seeks high current income and, secondarily, capital appreciation by investing at least 80% of its net assets in bonds issued by companies located in, listed in, or conducting the predominant part of their business in emerging market countries across Latin America, Asia, Europe, Africa, and the Middle East. The fund primarily focuses on corporate debt securities, including investment-grade, unrated, and below investment-grade bonds, with no maturity restrictions on the portfolio or individual holdings; it maintains a diversified portfolio of approximately 159 issuers, emphasizing intermediate-term weighted average maturity around 8 years, low-to-moderate credit quality, and an effective duration of about 5 years, complemented by limited allocations to cash equivalents, non-U.S. stocks, and other assets. Key holdings include corporate bonds from issuers such as Bank Negara Indonesia, Axian Telecom, AES Andes, Bangkok Bank, Zhongsheng Group Holdings, Sands China, JSW Infrastructure, and Cosan Overseas, alongside cash positions like T. Rowe Price Government Reserve Fund. The fund, launched on May 24, 2012, is managed by T. Rowe Price Group, Inc., a global investment management firm founded in 1937 and headquartered at 100 East Pratt Street in Baltimore, Maryland, with operations serving clients in 55 countries through 17 international offices. It operates within the emerging markets bond category, targeting individual and institutional investors seeking exposure to high-yield corporate debt from developing economies, with total net assets of approximately $281 million to $344 million, a net expense ratio of 0.88%, a TTM yield of 5.10%, and a minimum initial investment of $2,500. Recent portfolio management changes include Shiu Tak (Sheldon) Chan joining as co-portfolio manager on September 30, 2024, alongside Siby Thomas, who has led the fund since December 31, 2020, reflecting T. Rowe Price's emphasis on experienced teams in emerging markets fixed income. At the parent company level, T. Rowe Price announced a strategic collaboration with Goldman Sachs in September 2025, involving up to $1 billion in open-market purchases of T. Rowe Price common stock to support innovative public and private market solutions for retirement savings and wealth creation; additionally, in Q2 2025, the firm launched eight new ETFs (four equity and four fixed income) and pursued expense reduction measures including workforce adjustments and technology outsourcing amid net outflows in U.S. equities offset by inflows in fixed income. The fund itself shows ongoing evolution through active security selection, proprietary credit research, and low portfolio turnover, with a Morningstar Medalist Rating of Silver supported by a solid investment process despite an Average-rated management team.