Equity Capabilities
Always on, because the world never stays still
Markets are constantly changing, so we have built an equity investment ecosystem that’s designed to evolve with them. Our broad range of equity products are driven by teams of experts applying their individual intellect while leveraging the collective wisdom of our global investment teams.
At a Glance
years managing equity assets
equity investment professionals
USD of equity AUM*
Our equity investment ecosystem is alive to give us a holistic view of the investible universe.
Our focus on knowledge, talent, and culture aims to give our clients the best opportunity to meet their goals.
Seeing more to know more
We believe our advantage is fueled by our ability to derive, decipher, and process a deeper world of information. This gives us the potential to collect more pieces of the investment puzzle and the knowledge that comes with them—for a more complete picture of a company’s future and the potential for better outcomes for our clients.
A universe of talent, powering us forward
We believe investment ideas can come from anywhere. What drives us is a universe of talent, not individual stars. Each associate’s expertise plays a critical role in understanding what matters most to discern signal from noise and to develop insights that have the potential to benefit our clients’ portfolios.
Together, we are better
We believe working together makes us better and creates a culture of compounding knowledge and shared success. Our real-time marketplace of ideas helps us bring one another to the right answer, creating an environment that is greater than the sum of its parts and the potential to generate a world of greater opportunity for our clients.
Our thoughts on the issues that matter to you.
To identify actionable insights, our research across market caps, industries, and local markets never stops—building a real understanding of how companies and economies operate.
Key considerations for global equities beyond the U.S. election
Powerful factors provide a relatively positive backdrop for equity markets in 2025.
Three policy developments to watch after U.S. election
The postelection shift from campaigning to governing can create uncertainty for markets.
Are GLP-1s the next industry disruptor?
Some are predicting that GLP-1s could pose a disruptive threat to the medtech industry, as demand for medical devices and surgical procedures could be greatly reduced.
Revolution to Reality – Exploring the Power of Artificial Intelligence
In the second season of The Angle from T. Rowe Price, we explore the rapid rise of generative artificial intelligence (AI). Does AI represent the monumental change that headlines often indicate, or should we temper expectations? Where are we seeing the initial impacts on industries, and are there hidden risks to monitor? Host Jennifer Martin, portfolio specialist, and guests consider the evolving implications for financial markets and the global economy—including the potential opportunities and pitfalls.
Our equity funds have delivered more return than passive peers, more often than top active managers.
Ten-year periods, rolling monthly, over the last 20 years ending 6/30/24.
These funds delivered higher average returns than their passive peers over time, more often—and with highter returns—than the average of all other active managers, including the five largest. This outperformance stemmed from our experience and commitment to rigorous global research, which allowed us to uncover equity investment opportunities with long-term growth potential.
More return. More often.
That's the T. Rowe Price difference.
To learn more, check out our insights on our equity funds versus passive peers, and information on our performance during market volatility.
Past performance is no guarantee of future results. View standardized returns and other information about the T. Rowe Price funds in this analysis.
Our associates use their generational knowledge and deep understanding of the market to recognize patterns and perpetually connect the dots of the financial world.
Eric L. Veiel, CFA®
Head of Global Investments and CIO
Eric Veiel is head of Global Investments and chief investment officer, chair of the Investment Management Steering Committee, and member of the Management Committee, the Equity Steering Committee, the Fixed Income Steering Committee, the International Steering Committee, the Multi-Asset Steering Committee, the Product Steering Committee, and the Management Compensation and Development Committee. Eric also is a member of the Board of the T. Rowe Price Mutual Funds.
Paul Greene, II
Portfolio Manager
Paul Greene is the portfolio manager of the US Large-Cap Core Growth Equity Strategy in the U.S. Equity Division. He is a vice president and an Investment Advisory Committee member of the US Large-Cap Core Growth Equity, Communications and Technology Equity, and US Growth Stock Equity Strategies. He is an Investment Advisory Committee member of the Global Growth Equity and Global Focused Growth Equity Strategies. Paul is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Trust Company.
David J. Eiswert, CFA®
Portfolio Manager
David Eiswert is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is the portfolio manager for the Global Focused Growth Equity Strategy, a role he has held since October 1, 2012. Prior to his current role, Mr. Eiswert was the portfolio manager for the Global Technology Strategy from October 2008 until May 2012. He was a technology analyst from 2003 until 2012. Mr. Eiswert is a vice president of T. Rowe Price Group, Inc.
David R. Giroux, CFA®
Head of Investment Strategy and Chief Investment Officer
David Giroux is a portfolio manager for the Capital Appreciation Strategy, including the Capital Appreciation Fund and Capital Appreciation Equity ETF, and co-portfolio manager for the Capital Appreciation and Income Fund at T. Rowe Price Investment Management. He also is head of Investment Strategy and chief investment officer for T. Rowe Price Investment Management. David is the chairman of the Capital Appreciation and Capital Appreciation Equity ETF Investment Advisory Committees and a cochairman of the Capital Appreciation and Income Investment Advisory Committee. He is a member of the T. Rowe Price Investment Management ESG Investing Committee and the T. Rowe Price Investment Management Investment Steering Committee. David is a vice president of T. Rowe Price Group, Inc.
Experience our original ideas — contact us.
Insights
Call
A broad range of solutions designed to help meet your needs.
Our portfolio managers independently apply their bespoke investment frameworks to help generate outcomes for specific client needs. See how these investment products go beyond active investing to help clients thrive in a changing world.
Leveraging our global network of knowledge to stay more alive to new and developing opportunities, wherever they may be.
Global Growth Equity
Seeks long-term capital appreciation by investing primarily in a diversified portfolio of transferable equity and equity-related securities of larger cap companies listed on the world's stock markets.
Global Focused Growth Equity
Seeks long-term capital appreciation by investing primarily in a diversified portfolio of transferable equity and equity-related securities of larger-cap companies listed on the world’s stock markets.
Global Impact Equity
Seeks to have a positive impact on the environment and society while at the same time seeking to increase the value of its shares through growth in the value of its investments over the long term (a minimum of five years).
Building on our deep understanding of the U.S. market to gain access and source new information.
US All-Cap Opportunities Equity
Seeks to increase the value of its shares, over the long term, through growth in the value of its investments mainly in a diversified portfolio of shares or related securities issued by companies in the United State.
US Capital Appreciation Equity ETF
Seeks to provide long-term capital growth by investing in a diversified portfolio of approximately 100 high-quality stocks with strong return potential and lower risk relative to the S&P 500 Index.
US Blue Chip Growth
Seeks to increase the value of its shares, over the long term, through growth in the value of its investments mainly in a diversified portfolio of shares of large and medium-sized blue chip companies in the United States.
Utilizing our extensive resources on the ground and around the globe to compound knowledge and recognize opportunities.
International Core Equity
Seeks long-term capital appreciation primarily through investments in common stocks of non-U.S. companies in developed countries.
International Disciplined Equity
Seeks long-term growth of capital through investments in stocks of non-U.S. companies in developed and emerging markets.
International Small-Cap Equity
Seeks long-term capital appreciation primarily through investment in small-cap companies traded in developed and emerging markets, with faster earnings growth and reasonable valuation levels relative to market/sector averages.
Pairing local insight with global expertise to build a real understanding of how these companies and economies operate.
Emerging Markets Equity
Seeks to increase the value of its shares, over the long term, through growth in the value of its investments mainly in a diversified portfolio of shares of emerging market companies.
Emerging Markets Discovery Equity
Seeks to increase the value of its shares through growth in the value of its investments mainly in a widely diversified portfolio of shares of emerging market companies.
China Evolution Equity
Seeks to increase the value of its shares through growth in the value of its investments over the long term (a minimum of five years) in a portfolio of shares of Chinese companies that may have significant exposure to smaller-capitalization companies.
Your investment process. Our expertise.
Refine holdings, build models, adjust portfolios, and inform investment decisions. Let's put our proven multi-asset expertise to work for your clients.
Important Information
All data as of September 30 2024 unless otherwise stated.
*The total equity assets managed by T. Rowe Price Associates, Inc., and its investment advisory affiliates. Total equity assets include all equity separate accounts and funds along with a portion of certain T. Rowe Price U.S.-registered multi-asset funds as of September 30 2024.
Risk Considerations
All investments are subject to market risk, including the possible loss of principal. International investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as specific country, regional, and economic developments. These risks are generally greater for investments in emerging markets. Diversification cannot assure a profit or protect against loss in a declining market.
T. Rowe Price Associates, Inc., and T. Rowe Price Investment Management, Inc., investment advisers of T. Rowe Price strategies.
Download a mutual fund prospectus; each includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.
For more information on the methodology of this analysis, please visit troweprice.com/complete-performance-study.
Past performance is no guarantee of future results. All investments are subject to risk, including the possible loss of principal. Results from other time periods may differ. Active investing may have higher costs than passive investing and may underperform the broad market or passive peers with similar objectives. Passive investing may lag the performance of actively managed peers as holdings are not reallocated based on changes in market conditions or outlooks on specific securities.
Analysis by T. Rowe Price. Comparable passive funds are (1) mutual funds and exchange-traded funds (ETFs) classified as “index fund” in the Morningstar Direct database and (2) in the same Morningstar category as the T. Rowe Price active funds being analyzed. The performance of the T. Rowe Price active funds was compared against the comparable passive funds using 10-year rolling monthly periods from 1/1/04 to 12/31/23. The analysis was conducted at the Morningstar category level analyzing all open-end funds and ETFs within U.S. Morningstar categories where passive funds are present. Oldest share class returns are used for analysis.
153 funds covering 5,373 rolling 10-year periods.
2329 funds covering 31,352 rolling 10-year periods. The active assets under management (AUM) as of 6/30/24 across all funds considered in the analysis are aggregated and those funds offered at any point in the analysis period by the largest five active fund managers by AUM, identified by Morningstar, other than T. Rowe Price are grouped together here. Source: Morningstar.3 3,056 funds covering 254,010 rolling 10-year periods, excluding T. Rowe Price.
33,073 funds covering 288,530 rolling 10-year periods, excluding T. Rowe Price.
The T. Rowe Price common trust funds (Trusts) are not mutual funds; rather, the Trusts are operated and maintained so as to qualify for exemption from registration as mutual funds pursuant to Section 3(c)(11) of the Investment Company Act of 1940, as amended. The Trusts are established by T. Rowe Price Trust Company under Maryland banking law, and their units are exempt from registration under the Securities Act of 1933. Investments in the Trusts are not deposits or obligations of, or guaranteed by, the U.S. government or its agencies or T. Rowe Price Trust Company and are subject to investment risks, including possible loss of principal.
ETFs are bought and sold at market prices, not NAV. Investors generally incur the cost of the spread between the prices at which shares are bought and sold. Buying and selling shares may result in brokerage commissions which will reduce returns.
Differences between investment vehicles may include investment minimums, objectives, holdings, sales and management fees, liquidity, volatility, tax features, and other features, which may result in differences in performance.
The above graphic features three circular charts and three bar charts that demonstrate how T. Rowe Price equity funds delivered better returns than passive peer funds and did so more often than competitors. The graphic shows how T. Rowe Price equity funds beat their passive peer funds in 71% of periods analyzed and delivered an average of 1.00% return above passive peer funds during the same periods. Additionally, it shows how equity funds from the five largest active managers beat their passive peer funds in 61% of periods and delivered an average of 0.52% return above passive peer funds. Finally, the graphic shows how equity funds from all active managers beat their passive peer funds in 45% of periods and delivered an average of 0.22% return below passive peer funds. Results shown after fees and expenses.
202407-3739879
