The representative porfolio is an account in the composite we believe most closely reflects current portfolio management style for the strategy. Performance is not a consideration in the selection of the representative portfolio. The characteristics of the representative portfolio shown may differ from those of other accounts in the strategy. Please see the GIPS® Composite Report for additional information on the composite.
Figures may not total due to rounding.
The specific securities identified and described do not represent all of the securities purchased, sold, or recommended for advisory clients, and no assumptions should be made that the securities identified and discussed were or will be profitable.
Assets Under Management includes assets managed by T. Rowe Price Associates, Inc., and its investment advisory affiliates.
The holdings shown are for the representative protfolio and may not necessarily reflect a client's actual holdings. T. Rowe Price uses the current MSCI/S&P Global Industry Classification Standard (GICS) for sector and industry reporting. The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of Morgan Stanley Capital International Inc. ("MSCI") and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P") and is licensed for use by T. Rowe Price. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications make any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby express disclaim all warranties of originality, accuracy, completeness, merchantability, and fitness for a particular purpose with respect to any or such standard or classification. Without limiting any or the foregoing, in no event shall MSCI, S&P, any o their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punative, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.representative portfolio and may not necessarily reflect a client's actual holdings.
Does not take into consideration the trades associated solely with the systematic re-balancing of the portfolio.
Risk considerations: All investments are subject to risks, including possible loss of principal. The strategy's growth approach to investing could cause it to underperform other stock portfolios that employ a different investment style. Growth stocks tend to be more volatile than value stocks and their prices usually fluctuate more dramatically than the overall stock market.
GIPS® Information
T.Rowe Price (“TRP”) claims compliance with the Global Investment Performance Standards (GIPS®). A complete list and description of the Firm’s composites and/or a presentation that adheres to the GIPS® standards are available upon request at advisorservices@troweprice.com. Additional information regarding the Firm’s policies and procedures for calculating and reporting performance results is available upon request at advisorservices@troweprice.com.
If fewer than 10 contributors or detractors are shown, those are all of the contributors or detractors for the period.
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