Investors experienced periods of high volatility during the past 20 years, with two strong U.S. bull markets giving way to two of the most brutal bear markets in recent memory: the collapse of the dot-com bubble in 2000 and the global financial crisis that began in 2007.
Throughout, T. Rowe Price remained committed to disciplined, active investment management. Our research shows that long-term U.S. equity clients have been rewarded.
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1 The study spanned the 20 years up to the end of December 2015 for older funds, or since inception for newer ones. It covered 18 of the 20 diversified active U.S. equity funds currently advised by T. Rowe Price, including 2 institutional portfolios that are not directly available to individual investors. In instances where a portfolio manager managed multiple funds in a particular sub-asset class style (e.g., U.S. small-cap growth), we used only the strategy with the largest assets under management to avoid double counting. Benchmarks included S&P 500, Russell 1000 Growth, Russell 2000 Growth, Russell 1000 Value, Russell 2000 Value, Russell 2000, Russell Midcap Growth, and Russell Midcap Value Indexes. 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.
2 According to Lipper Inc. Detailed information on our funds’ fees and expenses can be found in their prospectuses.
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Past performance is no guarantee of future results. All investments involve risk, including the possible loss of the money you invest. There is no guarantee T. Rowe Price funds will outperform their benchmarks.
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