Global Technology FundN-restricted

Restricted

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
  (195 funds)

Data as of 08/31/2020

Data as of 08/31/2020

Fund Manager Tenure2

Net Assets3
(USD)

1yr
$6.9b

Data as of 08/31/2020

Data as of 08/31/2020

Price
(USD)

Daily Price Change

$22.69
$0.00

Data as of 09/18/2020

Data as of 09/18/2020

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, CFA
Alan Tu, CFA, Portfolio Manager

Alan Tu is the portfolio manager for the Global Technology Equity Strategy in the U.S. Equity Division. He also is chairman of its Investment Advisory Committee. Alan is a vice president and an Investment Advisory Committee member of the US Small-Cap Growth II Equity, Science & Technology Equity, US Large-Cap Core Growth Equity, Communications and Technology Equity, and US Tax-Efficient Multi-Cap Growth Equity Strategies. In addition, he is an Investment Advisory Committee member of the Global Growth Equity Strategy. Alan also 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 08/31/2020

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 195
3 Years 195
5 Years 175
10 Years 152

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
34.81%
Benchmark
31.85%
Value
2.96% 9.42%

Data as of 06/30/2020

3 YR
20.41%
Benchmark
22.25%
Value
-1.84% -1.62%
5 YR
21.67%
Benchmark
20.14%
Value
1.53% 1.01%
10 YR
22.76%
Benchmark
17.60%
Value
5.16% 5.15%

Expense Ratio

Gross
0.88%
Net
0.88%

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
38.78%
Benchmark
22.19%
Value
16.59%

Data as of 09/18/2020

Monthly YTD
47.95%
Benchmark
31.20%
Value
16.75%

Data as of 08/31/2020

One Month
8.77%
Benchmark
9.21%
Value
-0.44%
Three Months
27.99%
Benchmark
25.78%
Value
2.21%

Benchmark: MSCI All Country World Index Information Technology Net

Fund Inception: 09/29/2000

Asset Allocation

Net Assets
(USD)
$6.9b
Largest US Stock 68.02% $4.7b
Other View complete Asset Allocation

Data as of 08/31/2020

Holdings

Total
Holdings
71
Largest Holding Amazon.com 6.05% Was (03/31/2020) 6.52%
Other View complete Full Holdings
Top 10 Holdings 38.48% View the latest Top 10 Holdings
12-Month Portfolio Turnover 76.6% Data as of 08/31/2020

Data as of 06/30/2020

Largest Contributor

Amazon.com
6.05%

Largest Detractor

Anaplan
0.97%

Data as of 06/30/2020

Purchase

Shopify
3.29%
Was 1.04%

Sale

Salesforce.com
3.57%
Was 6.59%

Data as of 06/30/2020

Sectors

Total
Sectors
9
Largest Sector Software 38.53% Was (07/31/2020) 37.63%
Other View complete Sector Diversification

Data as of 08/31/2020

Benchmark: MSCI All Country World Index Information Technology

Contributor

Software
By 5.62%
Sector 0.25%
Selection 5.37%

Detractor

Hardware
By -1.09%
Sector -1.01%
Selection -0.08%

Data as of 06/30/2020

Over

Internet
By 23.64%
Fund 23.93%
Benchmark 0.30%

Under

Hardware
By -25.83%
Fund 0.07%
Benchmark 25.89%

Data as of 08/31/2020

Regions

Total
Regions
4
Largest Region North America 73.05% Was (07/31/2020) 74.54%
Other View complete Region Diversification

Data as of 08/31/2020

Benchmark: MSCI All Country World Index Information Technology

Over

Pacific Ex Japan
By 7.80%
Fund 17.75%
Benchmark 9.95%

Under

North America
By -6.74%
Fund 73.05%
Benchmark 79.79%

Data as of 08/31/2020

Countries

Total
Countries
12
Largest Country United States 69.18% Was (07/31/2020) 70.35%
Other View complete Country Diversification

Data as of 08/31/2020

Benchmark: MSCI All Country World Index Information Technology

Contributor

United States
By 3.80%
Country -0.01%
Selection 3.81%

Detractor

China
By -1.31%
Country 0.18%
Selection -1.49%

Data as of 06/30/2020

Over

China
By 5.59%
Fund 6.87%
Benchmark 1.29%

Under

United States
By -9.16%
Fund 69.18%
Benchmark 78.34%

Data as of 08/31/2020

Team (As of )

Alan Tu, CFA

Alan Tu, CFA
Portfolio Manager

Alan Tu is the portfolio manager for the Global Technology Equity Strategy in the U.S. Equity Division. He also is chairman of its Investment Advisory Committee. Alan is a vice president and an Investment Advisory Committee member of the US Small-Cap Growth II Equity, Science & Technology Equity, US Large-Cap Core Growth Equity, Communications and Technology Equity, and US Tax-Efficient Multi-Cap Growth Equity Strategies. In addition, he is an Investment Advisory Committee member of the Global Growth Equity Strategy. Alan also is a vice president of T. Rowe Price Group, Inc.

  • Fund manager
    since 2019
  • Years at
    T. Rowe Price 6
  • 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 15
  • Years investment
    experience 24

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% 0.88% 0.88% N/A N/A
I Class
Cusip 741494306
$1,000,000* N/A 0.00% 0.75% 0.75% 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

© 2020 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-restricted

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.

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