Global Technology FundN-restricted

Closed

Invests primarily in companies we expect to generate a majority of revenue from the development, advancement, and use of technology. Focus on the common stocks of what we consider to be leading technology companies around the world.

The fund is less diversified than stock funds investing in a broader range of industries and, therefore, could experience significant volatility. Any foreign holdings could be affected by declining local currencies or adverse political or economic events.

PRGTXCUSIP 741494108
Prospectus

Morningstar (Category)

Morningstar
(Overall Rating)1

Technology
  (190 funds)

Data as of 07/31/2019

Data as of 07/31/2019

Fund Manager Tenure2

Net Assets3
(USD)

<1yr
$4.9b

Data as of 07/31/2019

Data as of 07/31/2019

Price
(USD)

Daily Price Change

$14.56
$-0.29

Data as of 08/23/2019

Data as of 08/23/2019

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™.

Alan Tu
Alan Tu, Portfolio Manager

Alan Tu is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is president of the Investment Advisory Committee of the Global Technology Equity Strategy. Previously, he was an investment analyst following software companies in the technology sector. Mr. Tu is a vice president and an Investment Advisory Committee member of the U.S. Small Cap Growth and Science & Technology Strategies. He is a vice president of T. Rowe Price Group, Inc. 

View more

Strategy

Investment Objective

The fund seeks to provide long-term capital growth.

Morningstar Equity Style

Large Growth

Data as of 07/31/2019

The Morningstar Style Box™, a proprietary Morningstar data point, is a 9-square grid that provides a graphical representation of the "investment style" of stocks and mutual funds. See disclaimer at bottom of page for more information.

Morningstar Rating

Period Rating Funds In Category (Technology)
Overall 190
3 Years 190
5 Years 176
10 Years 151

The Morningstar Rating™ for funds, or "star rating", is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.

Average Annual Total Returns (Investor Class)

1 YR
5.68%
Benchmark
9.88%
Value
-4.20% -4.05%

Data as of 06/30/2019

3 YR
21.70%
Benchmark
23.38%
Value
-1.68% -2.04%
5 YR
17.93%
Benchmark
15.48%
Value
2.45% 2.81%
10 YR
21.29%
Benchmark
16.03%
Value
5.26% 5.14%

Expense Ratio

Gross
0.91%
Net
0.91%

Benchmark: MSCI All Country World Index Information Technology Net

Fund Inception: 09/29/2000

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.

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.

Current Year Performance (Investor Class)

Daily YTD
19.34%
Benchmark
22.61%
Value
-3.27%

Data as of 08/23/2019

Monthly YTD
27.21%
Benchmark
28.50%
Value
-1.29%

Data as of 07/31/2019

One Month
2.04%
Benchmark
2.80%
Value
-0.76%
Three Months
-1.59%
Benchmark
1.95%
Value
-3.54%

Benchmark: MSCI All Country World Index Information Technology Net

Fund Inception: 09/29/2000

Asset Allocation

Net Assets
(USD)
$4.9b
Largest US Stock 67.77% $3.3b
Other View complete Asset Allocation

Data as of 07/31/2019

Holdings

Total
Holdings
44
Largest Holding Facebook 10.35% Was (03/31/2019) 9.18%
Other View complete Full Holdings
Top 10 Holdings 60.34% View the latest Top 10 Holdings
12-Month Portfolio Turnover 192.6% Data as of 07/31/2019

Data as of 06/30/2019

Largest Contributor

Facebook
10.35%

Largest Detractor

Alibaba Group Holding
10.34%

Data as of 06/30/2019

Purchase

Samsung Electronics
3.60%
Was 0.74%

Sale

Microchip Technology
4.62%
Was 7.73%

Data as of 06/30/2019

Sectors

Total
Sectors
8
Largest Sector Internet 37.77% Was (06/30/2019) 37.51%
Other View complete Sector Diversification

Data as of 07/31/2019

Benchmark: MSCI All Country World Index Information Technology

Contributor

Semiconductors
By 0.70%
Sector -0.33%
Selection 1.03%

Detractor

Software
By -1.90%
Sector -0.18%
Selection -1.72%

Data as of 06/30/2019

Over

Internet
By 37.59%
Fund 37.77%
Benchmark 0.17%

Under

IT Services
By -20.20%
Fund 1.72%
Benchmark 21.93%

Data as of 07/31/2019

Regions

Total
Regions
4
Largest Region North America 68.15% Was (06/30/2019) 68.78%
Other View complete Region Diversification

Data as of 07/31/2019

Benchmark: MSCI All Country World Index Information Technology

Over

Pacific Ex Japan
By 12.71%
Fund 23.00%
Benchmark 10.29%

Under

North America
By -9.14%
Fund 68.15%
Benchmark 77.28%

Data as of 07/31/2019

Countries

Total
Countries
9
Largest Country United States 68.15% Was (06/30/2019) 68.78%
Other View complete Country Diversification

Data as of 07/31/2019

Benchmark: MSCI All Country World Index Information Technology

Contributor

Netherlands
By 0.37%
Country 0.32%
Selection 0.06%

Detractor

China
By -1.44%
Country -1.99%
Selection 0.55%

Data as of 06/30/2019

Over

China
By 16.12%
Fund 16.80%
Benchmark 0.68%

Under

United States
By -8.03%
Fund 68.15%
Benchmark 76.18%

Data as of 07/31/2019

Team (As of )

Alan Tu

Alan Tu
Portfolio Manager

Alan Tu is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is president of the Investment Advisory Committee of the Global Technology Equity Strategy. Previously, he was an investment analyst following software companies in the technology sector. Mr. Tu is a vice president and an Investment Advisory Committee member of the U.S. Small Cap Growth and Science & Technology Strategies. He is a vice president of T. Rowe Price Group, Inc. 

  • Fund manager
    since 2019
  • Years at
    T. Rowe Price 4
  • Years investment
    experience 6
Jennifer O'Hara Martin

Jennifer O'Hara Martin
Portfolio Specialist

Jennifer O'Hara Martin is a global equity portfolio specialist in the U.S. Equity Division of T. Rowe Price. She is a member of the Global Growth Equity, Global Focused Growth Equity, Global Technology Equity, Communications & Technology Equity, Science & Technology Equity, and US Structured Research Equity Strategy teams. Ms. Martin is a vice president of T. Rowe Price Group, Inc.

  • Years at
    T. Rowe Price 14
  • Years investment
    experience 23

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

How to Invest

View platform information
Share Class Min Initial Investment (USD) Min Subsequent Investment (USD) 12b-1 Fee Expense Ratio
Gross Net Limitation Type Limitation Expiration Date
Investor Class
Cusip 741494108
$2,500 $100 0.00% 0.91% 0.91% N/A N/A
I Class
Cusip 741494306
$1,000,000* N/A 0.00% 0.77% 0.77% N/A
N/A

* Minimum initial investment $1,000,000. Minimum is generally waived for intermediaries, certain retirement plans, and certain institutional client accounts.

1

© 2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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.

Source: MSCI.  MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein.  The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products.  This report is not approved, reviewed, or produced by MSCI.

N-closed

Closed to new investors except for a direct rollover from a retirement plan into a T. Rowe Price IRA invested in this fund.

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