T. Rowe Price Tax-Efficient Equity Fund (PREFX)
Ticker Symbol:
PREFX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Snapshot
Download a Prospectus
Quick Stats
Current NAV as of 11/20/2009 $10.78
NAV Change -$0.04
Daily YTD Return as of 11/20/2009 37.15%
NAV 12 Month Low-High $6.55 - $11.01
Net Assets as of 10/31/2009 $68.01 Million
Investment Objective
The fund's objective is to provide long-term capital growth.
Morningstar Ratings1
as of 09/30/2009
Overall
3 Year
5 Year
10 Year N/A
Morningstar rated the Tax-Efficient Equity Fund among 750, 750, 638 and 324 Mid-Cap Growth funds for the overall rating and the 3-, 5-, and 10-year periods (as applicable) ending 09/30/2009, respectively. Morningstar Ratings™ are based on risk-adjusted returns. The Overall Morningstar Rating™ is derived from a weighted average of the performance figures associated with a fund's 3-, 5-, and 10-year (if applicable) Morningstar Rating™ metrics.
1 For funds with at least a 3-year history, a Morningstar Rating™ is based on a risk-adjusted return measure (including the effects of sales charges, loads, and redemption fees) with emphasis on downward variations and consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% 4 stars, the next 35% 3 stars, the next 22.5% 2 stars, and the bottom 10% 1 star. Each share class is counted as a fraction of one fund within this scale and rated separately. Morningstar Rating™ is for the retail share class only; other classes may have different performance characteristics.
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Performance Comparison
as of 10/31/2009
This chart shows the value of a hypothetical $10,000 investment in the fund over the past 10 years or since its inception (for funds lacking 10-year records). The result is compared with benchmarks, which may include a broad-based market index and a peer group average or index. Market indexes do not include expenses, which are deducted from fund returns as well as mutual fund averages and indexes.
Benchmark Definitions
Average Annual Total Returns2
  Month
End
10/31/2009 		Quarter
End
09/30/2009
1 Year 19.56% -3.52%
3 Years -4.76% -3.12%
5 Years 0.72% 1.67%
10 Years N/A N/A
Since Inception 0.24% 0.47%
Inception Date December 29, 2000
Expense Ratio as of 02/28/2009 1.46%
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when you sell your shares.
The Tax-Efficient Equity Fund charges a 1% redemption fee on shares held less than 365 days. The performance information shown does not reflect the deduction of the redemption fee; if it did, the performance would be lower.
2 Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions. For funds less than one year old, the Since Inception return figure is not annualized and represents an aggregate total return.
After-Tax
Average Annual Total Returns

as of 10/31/2009
  Returns after
taxes on
distributions		 Returns after taxes on distributions and sale of fund shares
1 Year 19.56% 12.71%
5 Years 0.72% 0.61%
10 Years N/A N/A
Since Inception 0.24% 0.20%
For information about after-tax returns click here.
See Glossary for additional details on all data elements.