T. Rowe Price Group, Inc. (TRP) has been added to the SGMF High Yield Fixed Income Fund (the Fund). We like the firm’s experienced investment team and approach, which emphasises fundamental credit research and opportunistically accessing smaller, under-researched credit issuers. TRP's smaller team and asset size allows for efficient decision making, a higher degree of flexibility as it relates to credit quality and industry positioning and a relatively concentrated best-ideas portfolio.

Addition of T. Rowe Price

What They Do

TRP takes a disciplined, active approach based on bottom-up fundamental analysis, careful stock selection, risk awareness, a wellresourced global research platform and teamwork. The team’s investment decisions are backed by a powerful security purchasing research platform. Its global search for competitive performance attempts to carefully balance both risk and reward.

How They Do

It TRP focuses on fundamental, bottom-up security selection based on relative-value assessments within and across industries. A high-intensity selection process, combined with concentrated, conviction-weighted positions, allows the portfolio to optimise relative value.

About TRP

Founded in 1937 and headquartered in Baltimore, Maryland, TRP is an investment management firm with offices in sixteen countries. As at 31 January 2018, the firm had US$1.05 trillion in assets under management.
 

Glossary of Financial Terms

Bottom-Up: Bottom-up managers focus on individual stock selection instead of the overall economic environment.

Fundamental: Fundamental refers to the method of evaluating a security in attempt to measure its intrinsic value.

Macroeconomic: Macroeconomic refers to the broad economy of a country or region, or the global economy. Quantitative: Quantitative refers to the use of mathematical measurements and calculations, statistical modelling and research.

Relative Value: Relative value is a method of determining an asset's value that takes into account the value of similar assets.

IMPORTANT NOTE: The opinions and views contained in this document are solely those of SEI and are subject to change; descriptions relating to organisational structure, teams, and investment processes herein may differ significantly from those prescribed by underlying managers regarding their own investment houses and investments.

Important Information:

Data refers to past performance. Past performance is not a reliable indicator of future results.

Investments in SEI Funds are generally medium- to long-term investments. The value of an investment and any income from it can go down as well as up. Investors may get back less than the original amount invested. Returns may increase or decrease as a result of currency fluctuations. Additionally, this investment may not be suitable for everyone. If you should have any doubt whether it is suitable for you, you should obtain expert advice.

No offer of any security is made hereby. Recipients of this information who intend to apply for shares in any SEI Fund are reminded that any such application may be made solely on the basis of the information contained in the Prospectus. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any stock in particular, nor should it be construed as a recommendation to purchase or sell a security, including futures contracts.

In addition to the normal risks associated with equity investing, international investments may involve risk of capital loss from unfavourable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Bonds and bond funds are subject to interest rate risk and will decline in value as interest rates rise. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. Narrowly focused investments and smaller companies typically exhibit higher volatility. SEI Funds may use derivative instruments such as futures, forwards, options, swaps, contracts for differences, credit derivatives, caps, floors and currency forward contracts.These instruments may be used for hedging purposes and/or investment purposes.

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