T. Rowe Price Corporate Income  PRPIX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Long-Term Bond Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
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   Avg Duration
   6.51 Yrs
   Avg Credit Quality
   BBB
As of 2009-09-30
Day Change
$ -0.01
  
NAV (2009-11-10)
$ 9.31
  
YTD Return % (2009-11-10)
21.02%
  
Total Assets ($ mil)
547
View Data Definitions
  Performance    
Growth of $10,000 Fund: T. Rowe Price Corporate Income
(from 1999-01-01 to 2009-10-31) Category: Long-Term Bond
Index: BarCap US Agg Bond TR USD
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-10
Inception date: 1995-10-31 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-10
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 22.01 28.28 4.54 4.34 6.22 5.98
+/- Category 6.61 -2.19 -1.25 0.05 -0.70 ---
+/- BarCap US Agg Bond TR USD 15.10 15.79 -1.91 -0.93 --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 20.03 18.32 4.54 4.28 6.11 5.95
Month-End (as of 2009-10-31) 21.11 30.10 4.49 4.20 6.22 5.98
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 27.49 2.50 2.30 3.97 ---
On Distribution & Sale of Shares --- 19.37 2.63 2.45 3.94 ---
Morningstar Rating --- --- ---
# of compared funds covered (3 yrs : out of 38 funds), (5 yrs : out of 29 funds), (10 yrs : out of 15 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
US Government 0.06
US Treasuries 0.06
TIPS 0.00
US Agency 0.00
Mortgage 2.66
Mortgage Pass-Thru 0.43
Mortgage CMO 2.22
Mortgage ARM 0.00
Credit 71.98
US Corporate 70.94
Asset-Backed 0.91
Convertible 0.00
Municipal 0.13
Corporate Inflation-Protected 0.00
Foreign 23.47
Foreign Corp 22.60
Foreign Govt 0.87
Cash 1.83
Bond Quality % of Bonds
AAA 2.3
AA 7.5
A 28.2
BBB 53.4
BB 7.1
B 0.4
Below B 0.0
Not Rated 1.1
 
Asset Allocation
% of Net Assets
Cash 2.2
Stocks 0.4
Bonds 96.2
Other 1.2
Foreign Stocks 0.1
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings 9 Turnover % 36
Total Number of Bond Holdings 348 30 Day SEC Yield % 4.78
% of Assets in Top 10 Holdings 13.78 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
Morgan Stanley 7.3% 2019-05-13 10,685 11,747 2.23
T. Rowe Price Instl Emerging Mkts Bond --- 1,080 9,967 1.89
GOLDMAN SACHS GROUP INC MEDIUM TERM NTS BOOK ENTRY 2019-02-15 8,170 9,348 1.77
Jpmorgan Chase 6.3% 2019-04-23 7,560 8,307 1.58
Time Warner Companies 6.875% 2018-06-15 6,830 7,567 1.44
AT&T 5.8% 2019-02-15 5,550 5,952 1.13
T. Rowe Price Reserve 2034-09-19 5,292 5,292 1.00
British Sky Broadcstg Grp 144A 9.5% 2018-11-15 3,960 5,164 0.98
BANK AMER FDG 2018-05-01 5,030 4,987 0.95
Rio Tinto Fin Usa 8.95% 2014-05-01 4,200 4,936 0.94
Data through 2009-09-30
  Other Information
Fund Inception: 1995-10-31
Portfolio Manager  (Start Date)
David A. Tiberii  (2003-10-01)
David A. Tiberii is a member of the portfolio management team for T. Rowe Price's Fixed Income Department and lead manager of its Investment-Grade Corporate Bond Strategy. He is chairman of the Investment Advisory Committee and president of the Corporate Income Fund. He is also a vice president of T. Rowe Price Group, Inc. Mr. Tiberii has 12 years of investment experience, five of which have been with T. Rowe Price. He started at the firm in 2003, with extensive experience in the fixed-income investment field. Between 2002 and 2003, Mr. Tiberii was a portfolio manager for GE Asset Management, where he helped consolidate the corporate bond investment functions of multiple GE insurance subsidiaries. Prior to this assignment, between 2000 and 2002, he was vice president of corporate bond strategy for Goldman Sachs, where his role was to develop client recommendations related to corporate bond securities, allocations, and investment strategies. Mr. Tiberii began his investment career at Smith Breeden Associates, where he worked from 1996 to 2000. During his tenure there, he co-managed a high-yield bond mutual fund after initially serving as a research associate in both the mortgage-backed and corporate bond areas. He also developed proprietary valuation and asset allocation models to aid the portfolio management process. Mr. Tiberii started his career by serving five years as a submarine line officer and nuclear engineer in the U.S. Navy. Mr. Tiberii graduated with a B.A. in physics from College of the Holy Cross and earned an M.B.A. in finance from the Fuqua School of Business at Duke University, where he was named a Fuqua Scholar. He has earned the Chartered Financial Analyst accreditation.
Sales Charge %
(taken from prospectus dated 2009-10-01)
Front: None
Deferred: None
Expense Ratio % 0.73
based on net assets
(taken from annual report dated 2009-05-31)
Correspondence Information
100 East Pratt Street

Baltimore,  MD  21202
USA
Telephone:
800-638-5660
410-547-2308
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.