All-Cap Opportunities Fund - I Class

Formerly New America Growth Fund

Invests primarily in common stocks of U.S. companies in sectors of the economy that are the fastest growing or have the greatest growth potential.

The fund may entail above-average risk since growth companies pay few dividends and are typically more volatile than slower-growing companies with high dividends.

Morningstar (Category)

Morningstar
(Overall Rating)1

Large Growth
  (1,137 funds)

Data as of 10/31/2021

Data as of 10/31/2021

Fund Manager Tenure2

Net Assets3
(USD)

5yrs
$9.2b

Data as of 10/31/2021

Data as of 10/31/2021

Price
(USD)

Daily Price Change

$82.99
$+0.21

Data as of 11/24/2021

Data as of 11/24/2021

Morningstar Ratings™ are based on risk-adjusted returns. Click on "Overall Rating" for the fund's 3-, 5-, and 10-year (if applicable) Morningstar Ratings™.

Justin P. White, CFA
Justin P. White, CFA, Portfolio Manager

Justin White is a portfolio manager of the US Multi-Cap Growth Equity Strategy, including the T. Rowe Price All-Cap Opportunities Fund, in the U.S. Equity Division. He is chairman of the Investment Advisory Committee of the US Multi-Cap Growth Equity Strategy and a vice president and an Investment Advisory Committee member of the US Large-Cap Core Equity, US Structured Research Equity, US Growth Stock, US Large-Cap Core Growth Equity, US Mid-Cap Growth Equity, US Mid-Cap Value Equity, and Communications and Technology Equity Strategies. Justin is a vice president of T. Rowe Price Group, Inc.

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Strategy

Investment Objective

The fund seeks to provide long-term capital growth by investing primarily in the common stocks of growth companies.

Average Annual Total Returns (I Class)*

1 YR
31.78%
Benchmark
31.88%
Value
-0.10% -3.75%

Data as of 09/30/2021

3 YR
24.16%
Benchmark
16.00%
Value
8.16% 8.32%

Data as of 09/30/2021

5 YR
24.98%
Benchmark
16.85%
Value
8.13% 7.53%

Data as of 09/30/2021

10 YR
20.30%
Benchmark
16.60%
Value
3.70% 3.39%

Data as of 09/30/2021

Benchmark: Russell 3000 Index

Investor Class Inception Date: 09/30/1985

I Class Inception Date: 12/17/2015

Expense Ratio

Gross
0.65%
Net
0.65%

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when you sell your shares. Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions.

Investors should note that short term returns greater than 40% are highly unusual and unlikely to be sustained.

*The T. Rowe Price Funds-I Class share the portfolio of an existing fund (the original share class of the fund is referred to as the "investor class"). The total return figures for I Class shares have been calculated using the performance data of the investor class up to the inception date of the I Class (shown above) and the actual performance results of the I Class since that date.  Because the I Classes are expected to have lower expenses than the Investor Classes, The I Class performance, had it existed over the periods shown, would have been higher. 

The gross expense ratio reflects the fund expenses as stated in the fee table of the fund's prospectus prior to the deduction of any waiver or reimbursement. The net expense ratio reflects fund expenses after the deduction of any waiver or reimbursement.  If a fund has an active contractual expense limitation, the expiration date is shown below the gross and net expense ratio values above.  Expense ratios are as of the most recent prospectus.

Sectors

Total
Sectors
10

Data as of 10/31/2021

Benchmark: Russell 3000 Index

Largest Sector Information Technology 28.42% Was (09/30/2021) 27.45%
Other View complete

Contributor

Communication Services
By 0.67%
Sector -0.03%
Selection 0.70%

Detractor

Information Technology
By -1.15%
Sector 0.04%
Selection -1.18%

Data as of 09/30/2021

Over

Communication Services
By 7.26%
Fund 16.96%
Benchmark 9.70%

Under

Consumer Staples
By -4.81%
Fund 0.32%
Benchmark 5.13%

Data as of 10/31/2021

Team (As of )

Justin P. White, CFA

Justin P. White, CFA
Portfolio Manager

Justin White is a portfolio manager of the US Multi-Cap Growth Equity Strategy, including the T. Rowe Price All-Cap Opportunities Fund, in the U.S. Equity Division. He is chairman of the Investment Advisory Committee of the US Multi-Cap Growth Equity Strategy and a vice president and an Investment Advisory Committee member of the US Large-Cap Core Equity, US Structured Research Equity, US Growth Stock, US Large-Cap Core Growth Equity, US Mid-Cap Growth Equity, US Mid-Cap Value Equity, and Communications and Technology Equity Strategies. Justin is a vice president of T. Rowe Price Group, Inc.

  • Fund manager
    since 2016
  • Years at
    T. Rowe Price 13
  • Years investment
    experience 13
Craig Watson, CPA

Craig Watson, CPA
Portfolio Specialist

Craig Watson is a portfolio specialist in the U.S. Equity Division. He is a member of the U.S. Large-Cap Growth team, working closely with institutional clients, consultants, and prospects. Craig also is a vice president of T. Rowe Price Group, Inc., and a trustee on the T. Rowe Price Foundation, Inc.

  • Years at
    T. Rowe Price 14
  • Years investment
    experience 14

For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.

View platform information
1

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2

Number of years managing the fund.  In the case of co-portfolio management, the longer tenure is displayed.

3

Figure applies to all share classes.

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Effective 1 March 2021, the benchmark for the All-Cap Opportunities Fund changed to the Russell 3000 Index. Prior to this change, the benchmark was the Russell 1000 Growth Index.

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