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Capital at risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

The listed funds are not an exhaustive list of funds available. Visit www.funds.troweprice.com to see the full range of funds offered by T. Rowe Price, including those that consider environmental and social characteristics as part of their investment process.  For up to date information regarding any T. Rowe Price fund's investment strategy, please see the relevant fund KID and prospectus. 

SICAV
US Large Cap Growth Equity Fund
An actively managed, pure growth portfolio of typically between 60-75 US large cap stocks with diversified exposure across industries. We seek to invest in competitively-advantaged businesses at various stages of their corporate life-cycle, leveraging innovation and change to drive rapid growth in earnings and cash flow.
ISIN LU0174119775
View more information on risks
FACTSHEET
KID
SFDR DISCLOSURE
31-Aug-2024 - Taymour Tamaddon, Portfolio Manager,
We believe that investor exuberance may gradually fade in the second half of this year. However, all eyes remain on the US Federal Reserve as it attempts to walk a fine line. With growth valuations already elevated, a rate cut may cause further pressure on multiples and dampen any positive market reaction to this more accommodating environment.

Overview
Strategy
Fund Summary
We look to identify stocks with the potential to deliver sustainable, double-digit earnings growth, capitalising on both secular and cyclical growth. We are patient investors, aiming to invest in companies trading at attractive valuations relative to their long-term potential and taking advantage of cyclical opportunities to build positions in high conviction names. The manager is not constrained by the fund's benchmark, which is used for performance comparison purposes only.

Performance - Net of Fees

Past performance is not a reliable indicator of future performance.

31-Jul-2024 - Taymour Tamaddon, Portfolio Manager,
Most major US stock indices rose in July. As measured by various Russell indices, small-caps outperformed mid-caps and large-caps. Value fared better than growth across all market capitalisations. Within the S&P 500, the real estate sector performed best, followed by utilities and financials. Communication services and information technology fared worst and produced negative returns. Within the portfolio, security choices in the consumer discretionary sector detracted the most. Our lack of exposure to an electric vehicle manufacturer dragged as its shares benefitted from several positive developments, including a shift in pricing strategy and better-than-expected deliveries in the second quarter. Consumer staples also hurt due to stock selection and an underweight allocation, led by our holding in a discount retailer that faced selling pressure amid rising concerns around consumer spending. Alternatively, stock picks in health care added value. Our holding in a large managed care provider led the way in the sector; its shares climbed higher on the back of an improved 2025 outlook from company management. Industrials and business services also helped due to favourable stock selection, driven by an aerospace materials supplier that outperformed in the wake of its better-than-expected quarterly earnings release.
31-Jan-2024 - Taymour Tamaddon, Portfolio Manager,
We remain largely satisfied with the positioning of the portfolio. We are aiming for a balanced approach of ideas that can provide upside as well as defensive positions that can provide downside support if markets reverse course into a downturn. We continue to refrain from taking a pronounced stance on macroeconomic implications. Similarly, predicting election outcomes and subsequent market impacts is not an area of focus at this stage; however, as political agendas come into focus and the balance of political power crystalises, actionable idiosyncratic investment opportunities may present themselves.

Past performance is not a reliable indicator of future performance.

The 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”). Full details of the objectives, investment policies and risks are located in the prospectus which is available with the key investor information documents 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. They can also be found along with a summary of investor rights in English at www.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.

Hedged share classes (denoted by 'h') utilise investment techniques to mitigate currency risk between the underlying investment currency(ies) of the fund and the currency of the hedged share class.  The costs of doing so will be borne by the share class and there is no guarantee that such hedging will be effective.

Before deciding to invest in the fund, you should read the offering document/prospectus (including its investment objectives, policies and any risk warnings) which are available and may be obtained from any appointed distributors.

The specific securities identified and described in this website do not represent all of the securities purchased, sold, or recommended for the sub-fund and no assumptions should be made that the securities identified and discussed were or will be profitable.

A full list of the currently issued Share Classes including Distributing, Hedged, and Accumulating Categories may be obtained, free of charge and upon request, from the registered office of the Company.  

Benchmark: Investors may use the benchmark to compare the fund’s performance. The benchmark has been selected because it is similar to the investment universe used by the investment manager and therefore acts as an appropriate comparator. The investment manager is not constrained by any country, sector and/or individual security weightings relative to the benchmark and has complete freedom to invest in securities that do not form part of the benchmark.

Disclosure on Vendor Indices can be found here.