We are committed to meeting the needs of current shareholders by investing in a manner that is consistent with the funds' objectives. By closing or restricting access to the funds to new investors, we believe we will preserve our ability to achieve the funds' objectives.
To ensure that our intermediary partners understand how these policies affect their underlying customers and overall business, it is important to understand the differences between official fund closings and the fund restrictions imposed by T. Rowe Price as the result of fund capacity concerns¹.
- A prospectus supplement generally is filed with the SEC announcing a fund's official closing to new investors
- No new accounts or initial purchases from intermediary or direct customers will be accepted after the fund's closing date¹
- Existing shareholders of the fund may continue to make subsequent purchases
- Existing retirement plans may continue to permit access to new participants but no new plans may use the closed fund as an option in their investment lineup
- Existing contract holders and separate accounts invested in the closed Variable Insurance Portfolios (VIPs) may continue to purchase shares of the closed VIP. Shares generally may not be purchased by a contract holder, separate account or insurance company not invested in the VIP prior to the fund's closing date
Funds closed to new investors
|Fund Name||Share Class||Ticker||Cusip||Closing Date|
|Capital Appreciation Fund||Inv||PRWCX||77954M105||06/30/2014|
|Capital Appreciation Fund - Advisor Class||Advisor||PACLX||77954M204||06/30/2014|
|Capital Appreciation Fund - I Class||I Cl||TRAIX||77954M303||06/30/2014|
|Emerging Europe Fund2||Inv||TREMX||77956H815||05/09/2022|
|Emerging Europe Fund - I Class2||I Cl||TTEEX||77956H245||05/09/2022|
|Institutional Small-Cap Stock Fund||Inv||TRSSX||45775L309||12/31/2013|
|Small-Cap Stock Fund||Inv||OTCFX||779572106||12/31/2013|
|Small-Cap Stock Fund - Advisor Class||Advisor||PASSX||779572403||12/31/2013|
|Small-Cap Stock Fund - I Class||I Cl||OTIIX||779572502||12/31/2013|
- A prospectus supplement generally is not filed with the SEC
- A strategy may be restricted to new institutional clients, but open to intermediaries trading directly with T. Rowe Price.
- A fund may be restricted for purchases made through financial intermediaries but open to customers who trade directly with T. Rowe Price
- Financial intermediaries may continue to open new underlying customer accounts provided the platform on which they offer access to the fund has an existing funded position
- Intermediary usage of restricted funds by platforms without an existing funded position in the fund requires written approval by designated T. Rowe Price personnel
Funds restricted for use by financial intermediaries
Access to these funds requires prior written approval before a new account may be opened.
|Fund Name||Share Class||Ticker||Cusip|
1 - Exceptions
Certain limited exceptions may apply to these scenarios. The funds reserve the right, when in the judgment of T. Rowe Price, it is not adverse to a fund's interest, to permit certain types of investors to open new accounts in a fund, to impose further restrictions, or to close a fund to any additional investments, all without notice.
2 - Exception (Closed Fund)
Closed to all purchases for new and existing investors.