July 17, 2013
Deborah
ONeal-Johnson
U.S. Securities & Exchange Commission
Division of Investment Management
100
F Street, N.E.
Washington, D.C. 20549
Re: T. Rowe Price Multi-Sector Account Portfolios, Inc.
T. Rowe Price Emerging Markets Corporate Multi-Sector Account Portfolio
File Nos.: 333-178660/811-22620
Dear Ms. ONeal-Johnson:
In accordance with the provisions of Rule 497 of the Securities Act of 1933, we are hereby filing the above-captioned funds revised Prospectus dated May 1, 2013 revised to July 1, 2013.
We are notifying investors of a change to the funds name and investment strategy. All revisions are redlined.
The information contained in these eXtensible Business Reporting Language (XBRL) exhibits relates to the revised prospectus filed under Rule 497 on July 1, 2013.
If you have any questions about this filing, please give me a call at 410-345-4981 or, in my absence, Brian R. Poole at 410-345-6646.
Sincerely,
/s/Tawanda L. Cottman
Tawanda
L. Cottman
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | T. Rowe Price Multi-Sector Account Portfolios, Inc. |
Prospectus Date | rr_ProspectusDate | May 01, 2013 |
Document Creation Date | dei_DocumentCreationDate | Jul. 01, 2013 |
Label | Element | Value | ||
---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||
Registrant Name | dei_EntityRegistrantName | T. Rowe Price Multi-Sector Account Portfolios, Inc. | ||
Prospectus Date | rr_ProspectusDate | May 01, 2013 | ||
T. Rowe Price Emerging Markets Bond Multi-Sector Account Portfolio
|
||||
Risk/Return: | rr_RiskReturnAbstract | |||
Risk/Return [Heading] | rr_RiskReturnHeading | T. Rowe Price Emerging Markets Corporate Multi-Sector Account Portfolio (formerly T. Rowe Price Emerging Markets Bond Multi-Sector Account Portfolio) SUMMARY |
||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | ||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The fund seeks high current income and, | ||
Objective, Secondary [Text Block] | rr_ObjectiveSecondaryTextBlock | secondarily, capital appreciation. | ||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses | ||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. | ||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Fees and Expenses of the Fund Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) |
||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. For the period of March 1, 2012, through December 31, 2012, the fund’s portfolio turnover rate was 59.9% of the average value of its portfolio. | ||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 59.90% | ||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example | ||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||
Strategy [Heading] | rr_StrategyHeading | Investments, Risks, and Performance Principal Investment Strategies |
||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in debt securities issued by corporations located in or conducting the predominant part of their business activities in, the emerging market countries of Latin America, Asia, Europe, Africa, and the Middle East. There are no overall limits on the fund's investments that are rated below investment-grade (BB or lower, or an equivalent rating) by a credit rating agency or are not rated by any credit rating agency but deemed to be below investment-grade by T. Rowe Price. Investments in below investment-grade bonds, also known as "junk" bonds in the U.S. bond market, should be considered speculative. Fund holdings may include the lowest-rated bonds, including those in default. While it is expected that the securities held by the fund will primarily be U.S. dollar-denominated, the fund may also hold securities denominated in emerging market currencies and other non-U.S. currencies. The fund does not generally attempt to cushion the impact of non-U.S. currency fluctuations against the U.S. dollar. Although the fund expects to maintain an intermediate- to long-term weighted average maturity, there are no maturity restrictions on the overall portfolio or on individual securities purchased by the fund. The fund is "nondiversified," meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a "diversified" fund. The fund may sell holdings for a variety of reasons, such as to alter geographic or currency exposure, to adjust its average maturity, duration, or credit quality, or to shift assets into or out of higher-yielding securities, or to alter geographic or currency exposure. |
||
Risk [Heading] | rr_RiskHeading | Principal Risks | ||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund's share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows: Active management risk The fund is subject to the risk that the investment adviser's judgments about the attractiveness, value, or potential appreciation of the fund's investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies. International investing risk Investing in the securities of non-U.S. issuers involves special risks not typically associated with investing in U.S. securities. International securities tend to be more volatile and less liquid than investments in U.S. securities and may lose value because of adverse political, social, or economic developments overseas. In addition, international investments may be subject to regulatory and accounting standards that differ from those of the U.S. Emerging markets risk The risks of international investing are heightened for securities of issuers in emerging market countries. Emerging market countries tend to have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries. In addition to all of the risks of investing in international developed markets, emerging markets are more susceptible to governmental interference, local taxes being imposed on international investments, restrictions on gaining access to sales proceeds, and less liquid and efficient trading markets. Currency risk Because the fund may invest in securities issued in foreign currencies, the fund is subject to the risk that it could experience losses based solely on the weakness of foreign currencies versus the U.S. dollar and changes in the exchange rates between such currencies and the U.S. dollar. Any attempts at currency hedging may not be successful and could cause the fund to lose money. Credit risk This is the risk that an issuer of a debt security could suffer an adverse change in financial condition that results in a payment default, security downgrade, or inability to meet a financial obligation. The risk of default is much greater for emerging market bonds and securities rated as below investment-grade ("junk" bonds). The fund is exposed to greater credit risk than other bond funds because companies and governments in emerging markets are usually not as strong financially and are more susceptible to economic downturns. Junk bonds should be considered speculative as they carry greater risks of default and erratic price swings due to real or perceived changes in the credit quality of the issuer. Interest rate risk This risk refers to the chance that interest rates will increase, causing a decline in bond prices. (Bond prices and interest rates usually move in opposite directions.) Generally, securities with longer maturities and funds with longer weighted average maturities carry greater interest rate risk. Liquidity risk This is the risk that the fund may not be able to sell a holding in a timely manner at a desired price. Nondiversification risk As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The fund's share price can be expected to fluctuate more than that of a comparable diversified fund. |
||
Risk Lose Money [Text] | rr_RiskLoseMoney | The fund's share price fluctuates, which means you could lose money by investing in the fund. | ||
Risk Nondiversified Status [Text] | rr_RiskNondiversifiedStatus | Nondiversification risk As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The fund's share price can be expected to fluctuate more than that of a comparable diversified fund. | ||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance | ||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | Because the fund commenced operations in 2012, there is no historical performance information shown here. Performance history will be presented after the fund has been in operation for one full calendar year. The fund’s performance reflects the performance of the fund while it was named the T. Rowe Price Emerging Markets Bond Multi-Sector Account Portfolio. The fund was renamed the T. Rowe Price Emerging Markets Corporate Multi-Sector Account Portfolio effective July 1, 2013. | ||
Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | Because the fund commenced operations in 2012, there is no historical performance information shown here. | ||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | 1-800-638-8790 | ||
Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | Current performance information may be obtained by calling 1-800-638-8790. | ||
T. Rowe Price Emerging Markets Bond Multi-Sector Account Portfolio | T. Rowe Price Emerging Markets Bond Multi-Sector Account Portfolio
|
||||
Risk/Return: | rr_RiskReturnAbstract | |||
Management fees | rr_ManagementFeesOverAssets | none | ||
Other expenses | rr_OtherExpensesOverAssets | 0.02% | [1] | |
Total annual fund operating expenses | rr_ExpensesOverAssets | 0.02% | ||
1 year | rr_ExpenseExampleYear01 | $ 2 | ||
3 years | rr_ExpenseExampleYear03 | 6 | ||
5 years | rr_ExpenseExampleYear05 | 11 | ||
10 years | rr_ExpenseExampleYear10 | $ 26 | ||
|
T. Rowe Price Emerging Markets Bond Multi-Sector Account Portfolio | ||||||||||||||
T. Rowe Price Emerging Markets Corporate Multi-Sector Account Portfolio (formerly T. Rowe Price Emerging Markets Bond Multi-Sector Account Portfolio) SUMMARY |
||||||||||||||
Investment Objective | ||||||||||||||
The fund seeks high current income and, | ||||||||||||||
secondarily, capital appreciation. | ||||||||||||||
Fees and Expenses | ||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. | ||||||||||||||
Fees and Expenses of the Fund Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) |
||||||||||||||
|
||||||||||||||
Example | ||||||||||||||
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||
|
||||||||||||||
Portfolio Turnover | ||||||||||||||
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. For the period of March 1, 2012, through December 31, 2012, the fund’s portfolio turnover rate was 59.9% of the average value of its portfolio. | ||||||||||||||
Investments, Risks, and Performance Principal Investment Strategies |
||||||||||||||
The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in debt securities issued by corporations located in or conducting the predominant part of their business activities in, the emerging market countries of Latin America, Asia, Europe, Africa, and the Middle East. There are no overall limits on the fund's investments that are rated below investment-grade (BB or lower, or an equivalent rating) by a credit rating agency or are not rated by any credit rating agency but deemed to be below investment-grade by T. Rowe Price. Investments in below investment-grade bonds, also known as "junk" bonds in the U.S. bond market, should be considered speculative. Fund holdings may include the lowest-rated bonds, including those in default. While it is expected that the securities held by the fund will primarily be U.S. dollar-denominated, the fund may also hold securities denominated in emerging market currencies and other non-U.S. currencies. The fund does not generally attempt to cushion the impact of non-U.S. currency fluctuations against the U.S. dollar. Although the fund expects to maintain an intermediate- to long-term weighted average maturity, there are no maturity restrictions on the overall portfolio or on individual securities purchased by the fund. The fund is "nondiversified," meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a "diversified" fund. The fund may sell holdings for a variety of reasons, such as to alter geographic or currency exposure, to adjust its average maturity, duration, or credit quality, or to shift assets into or out of higher-yielding securities, or to alter geographic or currency exposure. |
||||||||||||||
Principal Risks | ||||||||||||||
As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund's share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows: Active management risk The fund is subject to the risk that the investment adviser's judgments about the attractiveness, value, or potential appreciation of the fund's investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies. International investing risk Investing in the securities of non-U.S. issuers involves special risks not typically associated with investing in U.S. securities. International securities tend to be more volatile and less liquid than investments in U.S. securities and may lose value because of adverse political, social, or economic developments overseas. In addition, international investments may be subject to regulatory and accounting standards that differ from those of the U.S. Emerging markets risk The risks of international investing are heightened for securities of issuers in emerging market countries. Emerging market countries tend to have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries. In addition to all of the risks of investing in international developed markets, emerging markets are more susceptible to governmental interference, local taxes being imposed on international investments, restrictions on gaining access to sales proceeds, and less liquid and efficient trading markets. Currency risk Because the fund may invest in securities issued in foreign currencies, the fund is subject to the risk that it could experience losses based solely on the weakness of foreign currencies versus the U.S. dollar and changes in the exchange rates between such currencies and the U.S. dollar. Any attempts at currency hedging may not be successful and could cause the fund to lose money. Credit risk This is the risk that an issuer of a debt security could suffer an adverse change in financial condition that results in a payment default, security downgrade, or inability to meet a financial obligation. The risk of default is much greater for emerging market bonds and securities rated as below investment-grade ("junk" bonds). The fund is exposed to greater credit risk than other bond funds because companies and governments in emerging markets are usually not as strong financially and are more susceptible to economic downturns. Junk bonds should be considered speculative as they carry greater risks of default and erratic price swings due to real or perceived changes in the credit quality of the issuer. Interest rate risk This risk refers to the chance that interest rates will increase, causing a decline in bond prices. (Bond prices and interest rates usually move in opposite directions.) Generally, securities with longer maturities and funds with longer weighted average maturities carry greater interest rate risk. Liquidity risk This is the risk that the fund may not be able to sell a holding in a timely manner at a desired price. Nondiversification risk As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The fund's share price can be expected to fluctuate more than that of a comparable diversified fund. |
||||||||||||||
Performance | ||||||||||||||
Because the fund commenced operations in 2012, there is no historical performance information shown here. Performance history will be presented after the fund has been in operation for one full calendar year. The fund’s performance reflects the performance of the fund while it was named the T. Rowe Price Emerging Markets Bond Multi-Sector Account Portfolio. The fund was renamed the T. Rowe Price Emerging Markets Corporate Multi-Sector Account Portfolio effective July 1, 2013. | ||||||||||||||
Current performance information may be obtained by calling 1-800-638-8790. |
Document and Entity Information
|
12 Months Ended |
---|---|
May 01, 2013
|
|
Risk/Return: | |
Document Type | Other |
Document Period End Date | Dec. 31, 2012 |
Registrant Name | T. Rowe Price Multi-Sector Account Portfolios, Inc. |
Central Index Key | 0001533490 |
Amendment Flag | false |
Document Creation Date | Jul. 01, 2013 |
Document Effective Date | Jul. 01, 2013 |
Prospectus Date | May 01, 2013 |
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