T. Rowe Price
US Equities Conference
21st April 2026
- Conference highlights
- Navigating the Shifting US Economic Landscape
- Outlook for US Equities
- US Large Cap Growth
- Integrated US Equity
- US Structured Research
- Crypto
Conference highlights
Navigating the Shifting US Economic Landscape
Market Volatility Insights
Assessing Implications for Markets, Asset Classes and Portfolios
Outlook for US Equities
Nov 2025
On the Horizon
Equity markets to broaden despite continued AI resilience
US Large Cap Growth
- The strategy offers a genuinely active, high-conviction approach to US large-cap growth, with a focused portfolio built around the team’s strongest investment ideas.
- The strategy is supported by T. Rowe Price’s deep fundamental research platform, with bottom-up stock selection focused on identifying durable growth companies and long-term structural winners.
- Jon Friar becomes sole portfolio manager from 1st May 2026 and offers strong continuity, having worked closely on the strategy for many years and been part of T. Rowe Price since 2011.
Risks:
The following risks are materially relevant to the SICAV fund (refer to prospectus for further details): Equity, geographic concentration, issuer concentration, sector concentration.
The following risks are materially relevant to the OEIC fund (refer to prospectus for further details): Currency, Issuer concentration and sector concentration
Integrated US Equity
- Structural shifts in the global economy, including technological disruption, policy change and shifting market leadership, are driving a more complex and concentrated equity environment where outcomes are increasingly determined by a narrow set of factors.
- Integrating fundamental research with quantitative insights is critical in navigating this complexity, combining deep company understanding with data driven signals to improve decision making and identify opportunities during periods of extreme outcomes.
- Portfolio construction and client solutions are evolving in response to these dynamics, with greater emphasis on risk budgeting, managing concentration, and delivering more customised, outcome-oriented investment approaches.
Feb 2026
From the Field
Smarter alpha: Get more from a portfolio’s core
Jan 2026
From the Field
Why the stock market could broaden sustainably beyond U.S. large-cap growth
Risks - The following risks are materially relevant to the funds (refer to prospectus for further details): Equity, Geographic concentration and Model.
US Structured Research
- For more than 25 years, US clients have benefited from access to our US Structured Research strategy. We were pleased to extend access to European clients through a SICAV in 2023 and to UK clients through an OEIC in 2024. US Structured Research is built on a simple principle: investment decisions are made by the people closest to each company - our US equity analysts.
- T. Rowe Price US Structured Research is an actively managed, analyst-driven portfolio designed to capture our analysts’ highest-conviction ideas. The strategy is constructed to look like its benchmark, the S&P 500, from a sector, industry, and factor perspective, while isolating the stock selection skill of our US analyst team.
- Supported by a robust team and a disciplined process, the fund is well positioned as a core, all-weather US equity strategy, with a track record of delivering alpha across different factor regimes, market environments, and macroeconomic backdrops.
Feb 2025
From the Field
How an investment strategy can blend the best of active and passive
Nov 2025
On the Horizon
Equity markets to broaden despite continued AI resilience
Risks:
The following risks are materially relevant to the SICAV fund (refer to prospectus for further details): Equity, Geographic concentration, Small and mid-cap.
The following risks are materially relevant to the OEIC fund (refer to prospectus for further details): Currency, Equity, ESG, Geographic concentration, Issuer concentration, Sector concentration, Small and mid-cap.
Crypto
- Crypto is evolving from a speculative “Wild West” market towards early institutionalisation. Digital assets are moving into a more investable phase, supported by regulatory developments, ETF adoption, and growing institutional participation. While the market remains early and volatile, the infrastructure and access points are becoming more familiar to traditional investors.
- Generating alpha in crypto requires more than traditional fundamental analysis. Active investing in digital assets demands a multi-layered approach—combining protocol analysis, valuation, tokenomics, ecosystem strength, and team assessment with narrative, momentum, and market structure awareness. In this market, sentiment, innovation cycles, and regulatory catalysts can be just as important as fundamentals.
- The long-term opportunity may be driven by real-world utility, not just token price appreciation. Blockchain’s disruptive potential extends beyond cryptocurrencies themselves into areas such as tokenisation, stablecoin payments, digital ownership, and decentralised infrastructure. Over time, the space may be defined as much by practical use cases and broader adoption as by the performance of individual tokens.
The SICAV Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital which is registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective investment in transferable securities (“UCITS”). The OEIC Funds are sub-funds of the T. Rowe Price Funds OEIC, an investment company with variable capital incorporated in England and Wales which is registered with the UK Financial Conduct Authority and which qualifies as a UCITS. Full details of the objectives, investment policies, risks and sustainability information are located in the prospectus which is available with the key investor information documents (KIID) and/or key information document (KID) in English and in an official language of the jurisdictions in which the Funds are registered for public sale, 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 www.funds.troweprice.com. A summary of investor rights for the T. Rowe Price Funds SICAV is available in English at www.funds.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.
General Fund Risks
To be read in conjunction with the fund specific risks above.
Conflicts of Interest – The investment manager's obligations to a fund may potentially conflict with its obligations to other investment portfolios it manages.
Counterparty – Counterparty risk may materialise if an entity with which the fund does business becomes unwilling or unable to meet its obligations to the fund.
Custody – In the event that the depositary and/or custodian becomes insolvent or otherwise fails, there may be a risk of loss or delay in return of certain fund's assets.
Cybersecurity – The fund may be subject to operational and information security risks resulting from breaches in cybersecurity of the digital information systems of the fund or its third-party service providers.
ESG – Environmental, social or governance event(s) or condition(s) may occur, which could have/result in a material negative impact on the value of an investment and performance of the portfolio.
Investment fund – Investing in funds involves certain risks an investor would not face if investing in markets directly.
Inflation – Inflation may erode the value of the fund and its investments in real terms.
Market – Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety of factors.
Market Liquidity – In extreme market conditions it may be difficult to sell the fund's securities and it may not be possible to redeem shares at short notice.
Operational – operational failures could lead to disruptions of portfolio operations or financial losses.
Sustainability - Funds that seek to promote environmental and/or social characteristics may not or only partially succeed in doing so.
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