New Horizons FundN-closed

Closed

Invests primarily in a diversified group of small, emerging growth companies, preferably early in the corporate life cycle before a company becomes widely recognized by the investment community.

Investing in small companies involves greater risk than is customarily associated with larger companies.

PRNHXCUSIP 779562107
Prospectus

Morningstar (Category)

Morningstar
(Overall Rating)1

Mid-Cap Growth
  (557 funds)

Data as of 09/30/2020

Data as of 09/30/2020

Fund Manager Tenure2

Net Assets3
(USD)

1yr
$34.2b

Data as of 09/30/2020

Data as of 09/30/2020

Price
(USD)

Daily Price Change

$83.46
$-1.28

Data as of 10/26/2020

Data as of 10/26/2020

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™.

Joshua K.  Spencer, CFA
Joshua K. Spencer, CFA, Portfolio Manager

Josh Spencer is the lead portfolio manager for the QM US Small-Cap Growth Equity Strategy, including the New Horizons Strategy, of the U.S. Equity Division. He is president of the New Horizon strategy’s Investment Advisory Committee. Josh is a vice president and member of the Investment Advisory Committees for the Global Technology Equity, US Mid-Cap Growth Equity, US Small-Cap Core Equity, and the Science & Technology Equity Strategies. He also is an Investment Advisory Committee member of the US Growth Stock and US Large-Cap Growth Equity Strategies. Josh is a vice president of T. Rowe Price Group, Inc.

View more

Strategy

Investment Objective

The fund seeks long-term capital growth by investing primarily in common stocks of small, rapidly growing companies.

Morningstar Equity Style

Mid Growth

Data as of 09/30/2020

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 (Mid-Cap Growth)
Overall 557
3 Years 557
5 Years 500
10 Years 380

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
47.98%
Benchmark
15.71%
Value
32.27% 32.27%

Data as of 09/30/2020

3 YR
26.74%
Benchmark
8.18%
Value
18.56% 18.56%
5 YR
23.73%
Benchmark
11.42%
Value
12.31% 12.31%
10 YR
20.88%
Benchmark
12.34%
Value
8.54% 8.54%

Expense Ratio

Gross
0.76%
Net
0.76%

Benchmark: Russell 2000 Growth Index

Fund Inception: 06/03/1960

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
40.58%
Benchmark
8.98%
Value
31.60%

Data as of 10/26/2020

Monthly YTD
35.79%
Benchmark
3.88%
Value
31.91%

Data as of 09/30/2020

One Month
1.10%
Benchmark
-2.14%
Value
3.24%
Three Months
12.60%
Benchmark
7.16%
Value
5.44%

Benchmark: Russell 2000 Growth Index

Fund Inception: 06/03/1960

Asset Allocation

Net Assets
(USD)
$34.2b
Largest US Stock 79.53% $27.2b
Other View complete Asset Allocation

Data as of 09/30/2020

Holdings

Total
Holdings
175
Largest Holding Paylocity Holding 2.57% Was (06/30/2020) 1.91%
Other View complete Full Holdings
Top 10 Holdings 21.85% View the latest Top 10 Holdings
12-Month Portfolio Turnover 52.7% Data as of 09/30/2020

Data as of 09/30/2020

Largest Contributor

Veeva Systems
2.36%

Largest Detractor

TransUnion
1.50%

Data as of 09/30/2020

Purchase

Coupa Software
2.31%
Was 1.01%

Sale

RealPage
0.48%
Was 1.43%

Data as of 09/30/2020

Sectors

Total
Sectors
9
Largest Sector Information Technology 35.61% Was (08/31/2020) 34.56%
Other View complete Sector Diversification

Data as of 09/30/2020

Benchmark: Russell 2000 Growth Index

Contributor

Information Technology
By 3.24%
Sector -0.35%
Selection 3.59%

Detractor

Consumer Discretionary
By -1.00%
Sector -0.65%
Selection -0.34%

Data as of 09/30/2020

Over

Information Technology
By 15.29%
Fund 35.61%
Benchmark 20.32%

Under

Health Care
By -9.52%
Fund 25.00%
Benchmark 34.52%

Data as of 09/30/2020

Team (As of )

Joshua K.  Spencer, CFA

Joshua K. Spencer, CFA
Portfolio Manager

Josh Spencer is the lead portfolio manager for the QM US Small-Cap Growth Equity Strategy, including the New Horizons Strategy, of the U.S. Equity Division. He is president of the New Horizon strategy’s Investment Advisory Committee. Josh is a vice president and member of the Investment Advisory Committees for the Global Technology Equity, US Mid-Cap Growth Equity, US Small-Cap Core Equity, and the Science & Technology Equity Strategies. He also is an Investment Advisory Committee member of the US Growth Stock and US Large-Cap Growth Equity Strategies. Josh is a vice president of T. Rowe Price Group, Inc.

  • Fund manager
    since 2019
  • Years at
    T. Rowe Price 16
  • Years investment
    experience 22
Brian Dausch, CFA

Brian Dausch, CFA
Portfolio Specialist

Brian Dausch is a portfolio specialist in the U.S. Equity Division of T. Rowe Price. He is a member of the Global Natural Resources Equity, US Mid-Cap Growth Equity, US Small-Cap Growth Equity, QM US Small-Cap Growth Equity, and Health Sciences Strategy teams, working closely with institutional clients, consultants, and prospects. Mr. Dausch is a vice president of T. Rowe Price Group, Inc.

  • Years at
    T. Rowe Price 21
  • Years investment
    experience 22

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 779562107
$2,500 $100 0.00% 0.76% 0.76% N/A N/A
I Class
Cusip 779562206
$1,000,000* N/A 0.00% 0.65% 0.65% 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.

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.

Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group.

Dismiss
Tap to dismiss

Manage Subscriptions

Unsubscribe All
OK

Manage your watched Funds and Insights subscriptions from the mobile menu.

Mobile Watchlist Menu

Manage your watched Funds and Insights subscriptions here.

OK

Change Details

Congratulations! You are now registered.

Begin watching and receiving email updates for:

Ok

Sign in to manage your subscriptions and watch list.

Register

Download

Latest Date Range
Download Cancel

This content is restricted for Institutional Investors use only. We were not able to validate your status as an Institutional Investor with the information you provided at registration.

Please contact the T. Rowe Price Team with questions or to revise your status.

1-800-564-6958

You will need to accept the Terms & Conditions again.

Ok

You have updated your email address.

An activation email has been sent to your new email address from T. Rowe Price.

Please click on the activation link in order to receive email updates.

Ok

You have an existing account

Click OK to view your subscriptions and watch list.

OK

Confirm Cancel