T. Rowe Price launched the Dynamic Credit Fund, a total return-oriented bond fund designed to generate consistent returns through a combination of income and capital appreciation. The fund pursues returns that aim to be above the 3-month LIBOR in U.S. dollar terms over a full market cycle. The strategy is designed to invest, both long and short, in a wide variety of global credit instruments and is not tied to particular benchmarks, asset classes, or sectors. The Dynamic Credit Fund also has the flexibility to invest strategically across a broad range of traditional and non-traditional fixed income securities to find opportunities across sectors. The Dynamic Credit Fund's benchmark-agnostic strategy seeks to deliver attractive returns and defensively preserve capital through the credit cycle. It joins the T. Rowe Price Dynamic Global Bond Fund (Ticker: RPIEX) in T. Rowe Price's suite of "Dynamic" bond fund offerings. The fund will seek out high-conviction opportunities created by dynamic global market conditions and expects to hold a relatively concentrated portfolio of traditional and non-traditional fixed income securities, including corporate and sovereign bonds, bank loans, and securitized instruments, including mortgage- and asset-backed securities, across global and U.S. fixed income markets. The fund may also invest in non-investment grade and unrated bonds. The fund plans to use more derivatives than traditional bond funds in order to limit volatility while generating excess returns. The Dynamic Credit Fund will be managed by Saurabh Sud, CFA, who joined T. Rowe Price in April 2018 to develop this strategy. Mr. Sud has 11 years of investment experience spanning corporate credit, high yield, securitized, emerging markets, and interest rate sectors. The fund's net expense ratio for Investor Class shares (Ticker: RPIDX) is 0.81% and its net expense ratio for the Institutional Class shares (Ticker: RPELX) is 0.61%. Both figures include the effects of an expense limitation agreement that limits the class' operating expenses and will remain in effect through at least April 30, 2021. The fund's minimum initial investment amounts are $2,500 for Investor Class shares and $1,000,000 for Institutional Class shares.
T. Rowe Price Group, Inc. is an investment management company that provides investment advisory services to individual and institutional investors, retirement plans, and financial intermediaries. The group manages a broad range of American and international stock, blended asset, bond, and money market mutual funds and other investment portfolios.
T. Rowe Price Group also provides investment advisory clients with related administrative services, including mutual fund transfer agent, accounting and shareholder services, participant recordkeeping and transfer agent services for defined contribution retirement plans, discount brokerage, and trust services.
At the end of 2023, the group had USD 1,444.5 billion in assets under management.
T. ROWE PRICE GROUP INC. 
