T. Rowe Price Emerging Markets Local Currency Bond Fund (PRELX)
Ticker Symbol:
PRELX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  December
Morningstar Category  Emerging-Markets Local-Currency Bond
Inception Date 05/26/2011
Tax ID 45-1734203
Investment Objective
The fund's investment objective is to provide high income and capital appreciation.
Strategy
Invests at least 80% of net assets in government and corporate bonds that are denominated in emerging markets currencies. The fund may invest in unrated or below investment grade bonds.
Availability
All States
Risk/Reward Potential*
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Highest
Higher
Moderate
Lower
Lowest
This fund offers investors the potential for high current income and capital appreciation by investing in bonds that are denominated in emerging markets currencies, and in derivative instruments that provide investment exposure to such securities. Emerging market bonds include fixed rate and floating rate bonds that are issued by governments, government agencies, and supranational organizations of, and corporate issuers located in or conducting the predominant part of the business activities in, the emerging market countries of Latin America, Asia, Europe, Africa, and the Middle East.

This fund involves a high-risk approach to income from foreign bonds and its share price could fluctuate significantly. The fund is subject to the risks unique to international investing, and because the fund's emphasis is on investing in bonds that are traded in emerging market currencies, the value of the fund's holdings will be significantly affected by changes in the exchange rates between the U.S dollar and the currencies in which the holdings are denominated. In addition, there are interest rate and credit risks normally associated with investing in bonds as well.
* Annually we evaluate the standard deviation of each US mutual fund listed and its resulting placement within specific risk/return categories.

Methodology: If a fund is at least 5 year old, it is generally placed in risk/return categories based on the standard deviation of its performance for the longest period of its calendar year returns; the longest time period used for analysis is 10 years (regardless of the fund's inception). If a fund is less than 5 years old, we generally use the fund's primary benchmark disclosed in its prospectus as a proxy and follow the same process of using 10-year standard deviation of the benchmark, or longest time period available. The firm at its sole discretion may show a fund in a higher risk category based on qualitative or other factors that may differ from this methodology.
See Glossary for additional details on all data elements.