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Financial Intermediary / All Funds / US Large Cap Growth Equity Fund
Fund Range Documents

Capital at risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

The listed funds are not an exhaustive list of funds available. Visit www.funds.troweprice.com to see the full range of funds offered by T. Rowe Price, including those that consider environmental and social characteristics as part of their investment process.  For up to date information regarding any T. Rowe Price fund's investment strategy, please see the relevant fund KID and prospectus. 

SICAV
US Large Cap Growth Equity Fund
An actively managed, US growth portfolio of typically between 60-75 US large cap stocks with diversified exposure across industries. We seek to invest in secularly-advantaged businesses at various stages of their corporate life-cycle, leveraging innovation and change to drive rapid growth in earnings and cash flow. The fund is categorised as Article 8 under Sustainable Finance Disclosure Regulation (SFDR).
ISIN LU0174119775
Bloomberg TRPLGEI LX
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FACTSHEET
KID
SFDR DISCLOSURE
No data available
31-Mar-2025 - Jon Friar, Co-Portfolio Manager,
We are maintaining tempered expectations for equity markets in 2025. Indecisive and unpredictable government policy and elevated geopolitical tensions drove a volatile downturn in US equity markets during the first quarter. Consumer sentiment has worsened amid increased volatility, leading to further uncertainty around the global economy, which is largely driven by consumer spending.

Overview
Strategy
Fund Summary
We look to identify stocks with the potential to deliver sustainable, double-digit earnings growth and free cash flow growth, capitalising on both disruptive high growth and durable secular growth. We are patient investors, using our research to generate differentiated insights to invest in companies trading at attractive valuations relative to their long-term potential with high conviction. The promotion of environmental and/or social characteristics is achieved through the fund's commitment to maintain at least 10% of the value of its portfolio invested in Sustainable Investments, as defined by the SFDR. Additionally, we apply a proprietary responsible screen (exclusion list). The manager is not constrained by the fund’s benchmark, which is used for performance comparison purposes only.
No data available

Performance (Class I)

Past performance is not a reliable indicator of future performance.

Current Year Performance

Annualised Performance

31-Mar-2025 - Jon Friar, Co-Portfolio Manager,
Major US stock indices declined in March, extending February’s losses amid growing concerns that the Trump administration’s tariffs on imports from major trading partners, such as Canada, Mexico, and China, would lead to higher prices of goods sold in the US and contribute to inflationary pressures. Investors were also concerned that some weaker-than-expected economic data and reports from various retailers warning about slowing sales or decreased consumer spending would translate into slower economic growth, if not a recession. Within the portfolio, our underweight exposure to consumer staples names hurt relative returns. The sector outperformed as investors continued to rotate into more defensive areas of the market amid heightened economic uncertainty. Stock choices in the information technology sector also detracted. Here, our position in a software company hindered relative results as its shares fell alongside peers early in the month, largely in response to broader concerns around tariff threats and macroeconomic uncertainty. Alternatively, security choices in the health care sector added value, led by our holding in a large managed care provider whose shares outperformed after company management reaffirmed guidance for 2025. The stock also benefited from improved clarity from the Trump administration regarding certain aspects of health care policy.
31-Jan-2024 - Taymour Tamaddon, Portfolio Manager,
We remain largely satisfied with the positioning of the portfolio. We are aiming for a balanced approach of ideas that can provide upside as well as defensive positions that can provide downside support if markets reverse course into a downturn. We continue to refrain from taking a pronounced stance on macroeconomic implications. Similarly, predicting election outcomes and subsequent market impacts is not an area of focus at this stage; however, as political agendas come into focus and the balance of political power crystalises, actionable idiosyncratic investment opportunities may present themselves.

Team

No data available

Fees

No data available

Past performance is not a reliable indicator of future performance.

The Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital which is registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective investment in transferable securities (“UCITS”). Full details of the objectives, investment policies and risks are located in the prospectus which is available with the key investor information documents and/or key information document (KID) in English and in an official language of the jurisdictions in which the Funds are registered for public sale, together with the articles of incorporation and the annual and semi-annual reports (together “Fund Documents”). Any decision to invest should be made on the basis of the Fund Documents which are available free of charge from the local representative, local information/paying agent or from authorised distributors. They can also be found along with a summary of investor rights in English at www.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.

Hedged share classes (denoted by 'h') utilise investment techniques to mitigate currency risk between the underlying investment currency(ies) of the fund and the currency of the hedged share class.  The costs of doing so will be borne by the share class and there is no guarantee that such hedging will be effective.

Before deciding to invest in the fund, you should read the offering document/prospectus (including its investment objectives, policies and any risk warnings) which are available and may be obtained from any appointed distributors.

The specific securities identified and described in this website do not represent all of the securities purchased, sold, or recommended for the sub-fund and no assumptions should be made that the securities identified and discussed were or will be profitable.

A full list of the currently issued Share Classes including Distributing, Hedged, and Accumulating Categories may be obtained, free of charge and upon request, from the registered office of the Company.  

Benchmark: Investors may use the benchmark to compare the fund’s performance. The benchmark has been selected because it is similar to the investment universe used by the investment manager and therefore acts as an appropriate comparator. The investment manager is not constrained by any country, sector and/or individual security weightings relative to the benchmark and has complete freedom to invest in securities that do not form part of the benchmark.

Disclosure on Vendor Indices can be found here.