Open to new Retail investors
Open to subsequent Retail investments Minimum initial investment $1,000,000, certain exceptions may apply. Minimum waived for I Classes offered through Workplace Retirement plans.
The fund seeks long-term capital growth and current income primarily through investments in stocks.
The fund employs fundamental, bottom-up research and both growth and value approaches in identifying stocks the managers believe have good prospects for capital growth over time. Among the many characteristics the managers look for in a prospective holding are seasoned management, leadership positions in growing industries, and strong financial fundamentals. The fund invests primarily in large-capitalization companies but may invest in mid-cap firms as well.
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This fund offers investors a flexible growth- or value-oriented approach to long-term appreciation and a reasonable level of current income. Such investment flexibility enables the fund to pursue promising growth companies with a good track record of earnings growth, while also investing in out-of-favor companies that appear to be selling at a discount to the market. This unique approach strategically positions the fund to benefit from whichever investment style is in favor in the marketplace at any given time.
Since the fund invests in both growth and value stocks, its share price can be affected by the risks associated with each type of investment. Stocks with growth characteristics can have relatively wide price swings, and because earnings expectations often drive their stock prices, earnings disappointments can results in price declines. If the stocks in the value portion of the portfolio regain favor, their prices should rise, providing additional appreciation potential. However, the risks include the possibility that low prices are warranted or that investors may not recognize a stock's intrinsic worth for an unexpectedly long time.
**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.
The mutual funds referred to in this website are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. Download a prospectus.