T. Rowe Price Tax-Efficient Equity Fund (PREFX)
Ticker Symbol:
PREFX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  February
Morningstar Category  Large Growth
Inception Date 12/29/2000
Tax ID 52-2294523
Investment Objective
The fund seeks to maximize after-tax growth of capital through investments primarily in common stocks.
Strategy
The fund seeks to maximize after-tax growth of capital by investing primarily in common stocks. The fund expects to have significant investments in technology companies.
Risk/Reward Potential**
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This fund pursues the significant return potential of stocks while seeking to reduce the long-term tax burden by investing in a broad range of equities--from mid- and small-caps whose futures appear especially promising, to large companies operating in dynamic industries. In short, it invests in growing firms whose management teams, product lines, and balance sheets--among other measures--bode well for their future prospects.

Fund holdings are subject to market risk, and share prices may be more volatile than those of a fund focusing on slower-growing or cyclical companies.
**This chart displays relative risk of each U.S. mutual fund listed using standard deviation of returns. Those values are provided in the bars at the top of the chart.

Methodology: We evaluate the standard deviation and its resulting placement within a specific risk/return category on an annual basis. A fund is generally placed in a risk/return category based on the 10-year standard deviation of its performance. If a fund is less than 10 years old, the actual fund performance history is supplemented with the primary prospectus benchmark history to obtain a full 10-year history, or longest time period available up to 10 years. For an Asset Allocation fund with less than 10 years of performance history, sub-strategy returns are used. When a sub-strategy is less than 10 years old, the actual sub-strategy performance history is supplemented with benchmark history to obtain a full 10-year history, or longest time period available up to 10 years.

Risk return categories overlap; a fund with a standard deviation in the overlap between two categories, denoted by a plus (+), is placed so that its risk categorization is better aligned with anticipated return characteristics an investor may experience going forward at the discretion of T Rowe Price.

When a fund has a cash-like benchmark, denoted by a double plus (++), its standard deviation is estimated using only available fund returns. If the fund is less than 10 years old, benchmark returns are not used to obtain a full 10-year history because they would artificially suppress the volatility estimate.

All investments are subject to market risk, including the possible loss of principal. Standard deviation of returns, a measure of price volatility, is one measure of risk. Please consult the funds' prospectuses for a more complete discussion of the funds' risks.
See Glossary for additional details on all data elements.