T. Rowe Price Emerg Mkts Lcl Ccy Bd (PRELX)

This investment vehicle primarily concentrates its capital (at least 80% of net assets, including any leveraged funds) in debt securities issued by emerging market countries, denominated in their local currencies, or in derivative instruments providing equivalent exposure. Its strategy is to identify opportunities where the interplay between fixed-income returns and currency exchange rates presents an appealing profit potential. Conversely, if currency trends appear unfavorable, the fund actively employs hedging techniques to mitigate associated risks. Notably, this fund operates as a non-diversified entity.