T. Rowe Price Emerging Markets Bond Fund (PREMX)
Ticker Symbol:
PREMX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  December
Morningstar Category  Emerging Markets Bond
Inception Date 12/30/1994
Tax ID 52-1911315
Investment Objective
The fund's investment objective is to provide high income and capital appreciation.
Strategy
The fund invests at least 80% (and potentially all) of net assets in debt securities of emerging market governments or companies located in emerging market countries. The fundís investments in debt securities typically consist of corporate and sovereign bonds. The fund relies on a classification by either JP Morgan or the International Monetary Fund to determine which countries are emerging markets. The fundís holdings may be denominated in U.S. dollars or non-U.S. dollar currencies, including emerging market currencies. The fund may invest in the lowest-rated bonds, including those in default.
Risk Potential**
Click on the risk spectrum below to view the funds in that category
All investments are subject to market risk, including the possible loss of principal. The fund is subject to the risks of fixed-income investing, including interest rate risk and credit risk. Interest rate risk is the decline in bond prices that accompanies a rise in the overall level of interest rates. Credit risk is the chance that any of the fund's holdings will have their credit ratings downgraded or will default (fail to make scheduled interest or principal payments), potentially reducing the fund's income level and share price. Investments in foreign bonds are subject to special risks, including potentially adverse overseas political and economic developments, greater volatility, lower liquidity, and the possibility that foreign currencies will decline against the dollar. Investments in emerging markets are subject to abrupt and severe price declines. The economic and political structures of developing nations, in most cases, do not compare favorably with the U.S. or other developed countries in terms of wealth and stability, and their financial markets often lack liquidity. High-yield bonds carry higher credit and liquidity risks than higher-rated bonds, meaning there is a greater chance they will have their credit ratings downgraded or default.
**This chart displays relative risk of each U.S. mutual fund listed using standard deviation of returns. Those values are provided in the bars at the top of the chart.

Methodology: We evaluate the standard deviation and its resulting placement within a specific risk/return category on an annual basis. A fund is generally placed in a risk/return category based on the 10-year standard deviation of its performance. If a fund is less than 10 years old, the actual fund performance history is supplemented with the primary prospectus benchmark history to obtain a full 10-year history, or longest time period available up to 10 years. For an Asset Allocation fund with less than 10 years of performance history, sub-strategy returns are used. When a sub-strategy is less than 10 years old, the actual sub-strategy performance history is supplemented with benchmark history to obtain a full 10-year history, or longest time period available up to 10 years.

Risk return categories overlap; a fund with a standard deviation in the overlap between two categories, denoted by a plus (+), is placed so that its risk categorization is better aligned with anticipated return characteristics an investor may experience going forward at the discretion of T Rowe Price.

When a fund has a cash-like benchmark, denoted by a double plus (++), its standard deviation is estimated using only available fund returns. If the fund is less than 10 years old, benchmark returns are not used to obtain a full 10-year history because they would artificially suppress the volatility estimate.

All investments are subject to market risk, including the possible loss of principal. Standard deviation of returns, a measure of price volatility, is one measure of risk. Please consult the funds' prospectuses for a more complete discussion of the funds' risks.
See Glossary for additional details on all data elements.