T. Rowe Price believes that growth in assets under management, if pursued without discipline, can result in reduced quality of portfolio management. Protecting our clients’ long-term interests is a primary responsibility at T. Rowe Price. As a direct result, we closely monitor AUM for each investment mandate and asset class across our global platform, to ensure that we meet this responsibility. The goal of this monitoring process is to ensure that capacity challenges do not negatively impact a portfolio manager’s ability to deliver superior risk-adjusted returns to clients.

As asset size grows, capacity is constrained, product may be closed to new clients, and ultimately, if needed, to all investments.