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T Rowe European High Yield Bond Ax EUR

Ranked 25 out of 33 in - Europe High Yield over 3 months
All calculations are in EUR unless stated

Managed by

Michael Della Vedova

Michael Della Vedova joined T Rowe Price in 2009 where he is portfolio manager of the T Rowe Price European High Yield Bond Fund using a fundamental investment style. Prior to joining the company, he was co-founder and partner of Four Quarter Capital. He earned bachelor of law and commerce degrees at the University of New South Wales and holds a postgraduate diploma in legal practice from the University of Technology in Sydney. He is based in London and his interests outside of fund management include rugby, football, cricket and music.


The sub-fund invests at least two-thirds of total assets in debt securities that are rated below BBB- by Standard & Poors or have an equivalent rating (or, if unrated, are of equivalent quality), and are issued by companies and denominated in euro or another European currency. Portfolio debt securities can include fixed and floating rate bonds as well as preferred stocks, convertible bonds and other transferable debt securities of any type. The fund does not invest more than 10% of assets in equities and equity-related securities, 25% of assets in convertible bonds, and one third of assets in money market securities.

Showing fund performance in Luxembourg View performance globally


Europe High Yield over : 28/11/2017 - 28/02/2018
  • Rank 25/33 Total Return
  • Rank 29/33 Standard Deviation
  • Rank 30/33 Max Drawdown
Fund Name Currency Risk
27 Nomura Funds Ireland- European High Yield Bd I EUR EUR


28 Nordea 1 - European High Yield Bond Fund II X EUR EUR


29 T Rowe European High Yield Bond Ax EUR

Currency exposure is hedged

Currency exposure is hedged



30 Kempen (Lux) Euro High Yield Fund LR EUR


31 Morgan Stanley European Curr High Yield Bd ADX EUR

Currency exposure is hedged

Currency exposure is hedged



Fund Name Currency Loss
29 Kempen (Lux) Euro High Yield Fund LR EUR


30 T Rowe European High Yield Bond Ax EUR

Currency exposure is hedged

Currency exposure is hedged



31 Oyster European Subordinated Bonds R EUR EUR


32 UBI SICAV Euro High Yield I Cap EUR


Total Return

Quarterly Performance

to 01/01/2018 Annual Q1 Q2 Q3 Q4
2017 -0.2%

Month by Month Performance

Returns Vs Risk

Registered For Sale In

  1. Belgium
  2. Denmark
  3. Estonia
  4. Finland
  5. France
  6. Germany
  7. Guernsey
  8. Hong Kong
  9. Iceland
  10. Ireland
  11. Italy
  12. Jersey
  13. Latvia
  14. Lithuania
  15. Luxembourg
  16. Netherlands
  17. Norway
  18. Portugal
  19. Singapore
  20. Spain
  21. Sweden
  22. Switzerland
  23. United Kingdom

Fund Info

  • Launch date24/08/2017
  • Share Class size00Mn
  • Base currencyEUR
  • ISIN LU1670771028
  • Currency exposure is hedged

Purchase Info

  • Min. initial investment15,000
  • Min. regular additional investment0


  • Annual management1.15%

Related News

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Blended approach has value despite active bias, says asset allocator.

Investors are embedding risk, says AAA-rated HY star

VIDEO: Mike Della Vedova thinks investors are not taking the lack of liquidity of the bond market into account.

AAA-rated HY manager: don’t rush into beaten-up energy bets

T Rowe’s Michael Della Vedova is underweight the sector despite investor interest ramping up in recent weeks.

Beware of ‘fallen angels’, warns AAA-rated bond manager

European high yield bonds specialist Michael Della Vedova explains why he is steering clear of sectors boasting former IG names.

Europe’s M&A wave won’t create 2008 re-run, says HY specialist

Citywire AA-rated Michael Della Vedova says companies are in much better shape to properly take advantage of cheap debt dynamics.

T Rowe HY veteran: why I'm cautious on first time issuers

Bond specialist Michael Della Vedova is looking to the secondary market for 'tried and tested' bets as primary plays prove troublesome.

Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in the currency and currencies indicated).