T. Rowe Price Emerging Markets Local Currency Bond Fund (PRELX)
Ticker Symbol:
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  December
Morningstar Category  
Inception Date 05/26/2011
Tax ID 45-1734203
Investment Objective
The fund's investment objective is to provide high income and capital appreciation.
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.
Investor Profile
Those seeking high current income and capital appreciation, as well as greater diversification for their fixed-income investments who can accept the volatility and special risks inherent in international emerging markets investing, including currency fluctuations. Appropriate for both regular and tax-deferred accounts, such as IRAs.
All States
Risk/Reward Potential*
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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.
* Funds are placed in general risk/return categories based on their 10-year standard deviation (as of December 2015) or, for newer funds, the standard deviation of the types of securities in which they invest. There is no assurance past trends will continue.
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