US Large Cap Growth Equity Fund*

A large cap growth fund seeking firms that demonstrate innovation and change

At a glance:

Strategy inception date

30 November 2001

Comparator benchmark

Russell 1000 Growth Index Net 15% withholding tax

Ratings 

Taymour Tammadon
Taymour Tamaddon
Lead Portfolio Manager

Why T. Rowe Price US Large Cap Growth Equity Fund?

Our US Large Cap Growth Equity Funds are designed to give access to a portfolio of competitively-advantaged businesses at various stages of their corporate life-cycle, leveraging innovation and change to drive rapid growth in earnings and cash flow.

1 Pure growth strategy

We are looking to identify stocks that deliver sustainable, double-digit earnings growth, capitalising on both secular and cyclical growth spanning the large-cap spectrum. Stocks that we favour will typically exhibit high-quality earnings, strong free cash flow growth, shareholder-oriented management, with strong competitive positions in attractive growth industries.

2 Focus on innovation and change

We focus on competitively-advantaged businesses that are on the right side of major and lasting change. We like disruptive and innovative companies that can take outsized share in established markets which can drive rapid growth in earnings and generate significant free cash flow that ultimately drives stock prices.

3 Long-term approach

We have a long-term perspective in our investment approach, and with a two‑ to three-year expected holding period, we are patient investors. We construct portfolios of companies that we believe have attractive earnings growth over the course of the next three years, regardless of investor expectations. On the other hand, short-term momentum and sentiment are often overemphasised by investors, creating opportunities for investors like us with a longer-term focus.

Investment Objective

To increase the value of its shares through growth in the value of its investments. The fund invests mainly in a diversified portfolio of stocks from large capitalisation companies in the United States that have the potential for above-average and sustainable rates of earnings growth.

We like disruptive and innovative companies that are on the right side of major and lasting change.

Taymour Tamaddon / Portfolio Manager

Diversified exposure to competitive US companies trading at attractive valuations

Highly-diversified portfolio

  • 60 – 75 stocks
  • 0.5X-3X Russell 1000 sectors
  • Generally US$8bn+ market cap

Attentive to valuations

  • Avoid overpaying for growth, investing in companies trading at attractive valuations relative to their long-term potential
  • Taking advantage of cyclical opportunities to build positions in high conviction names

Leading companies

  • Companies leveraging innovation and change to drive rapid growth in earnings and cash flow
  • Analysis centres on industry and company dynamics, quality of management and fundamentals

Key Risks – The following risks are materially relevant to the fund (refer to prospectus for further details):

Transactions in securities of foreign currencies may be subject to fluctuations of exchange rates which may affect the value of an investment. Small and mid-cap risk – stocks of small and mid-size companies can be more volatile than stocks of larger companies. Volatility risk – the performance of the strategy has a risk of high volatility.

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* T. Rowe Price Funds SICAV – US Large Cap Growth Equity Fund and T. Rowe Price Funds OEIC – US Large Cap Growth Equity Fund

Full details of the objectives, investment policies and risks are located in the prospectus which is available with the key investor information documents in English, together with the articles of incorporation and the annual and semi-annual reports (together “Fund Documents”). Any decision to invest should be made on the basis of the Fund Documents which are available free of charge from the local representative, local information/paying agent or from authorised distributors and via the links titled “See all SICAV fund data” and “See all OEIC fund data” available in the resources section above.

Past performance is not a reliable indicator of future performance.

Morningstar Analyst Rating™ calculated annually. Silver rating as at 19 September 2019. Morningstar star rating as at 30 September 2019. FE Crown Fund Rating as at 30 June 2019. RSM Rating as at 1 October 2019.

All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For further information on ratings methodology please visit www.morningstar.com

This rating relates to the SICAV Fund which is managed in the same way as the OEIC Fund but has a longer track record. © 2019 FE. All Rights Reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FE, (2) may not be copied or redistributed, (3) do not constitute investment advice offered by FE, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete, or accurate. FE shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. FE does not guarantee that a fund will perform in line with its FE Crown Fund Rating as it is a reflection of past performance and Rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision. www.trustnet.com

©Rayner Spencer Mills Research Limited. https://members.rsmgroup.co.uk/related/rd/fund-rating-methodology/

Other US Equity funds

Want to know more about T. Rowe Price and our products?

1 Total U.S. Equity Assets: 593.3 Billion GBP. As of 30 September 2019. US Equity AUM includes assets managed by T. Rowe Price Associates, Inc. and its investment advisory affiliates.

2 T. Rowe Price Funds OEIC – US Large Cap Growth Equity Fund, T. Rowe Price Funds SICAV – US Large Cap Growth Equity Fund.
3 T. Rowe Price Funds SICAV – US Blue Chip Equity Fund.
4 T. Rowe Price Funds OEIC – US Equity Fund, T. Rowe Price Funds SICAV – US Equity Fund.
5 T. Rowe Price Funds OEIC – US Large Cap Value Equity Fund, T. Rowe Price Funds SICAV – US Large Cap Value Equity Fund.
6 T. Rowe Price Funds OEIC – US Smaller Companies Equity Fund, T. Rowe Price Funds SICAV – US Smaller Companies Equity Fund

Full details of the objectives, investment policies and risks are located in the prospectus which is available with the key investor information documents in English, together with the articles of incorporation and the annual and semi-annual reports (together “Fund Documents”). Any decision to invest should be made on the basis of the Fund Documents which are available free of charge from the local representative, local information/paying agent or from authorised distributors and via the links titled “See all SICAV fund data” and “See all OEIC fund data” available in the resources section above.