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US Equity

Real Estate Fund (TRREX)

Inception
1997
Price As of 05/22/15
$26.84

Objective

The Strategy

The fund seeks to provide long-term capital growth through a combination of appreciation and current income by investing in real estate companies, including real estate investment trusts (REITs).

Investment Team

 
 

David M. Lee, CFA

Lead Portfolio Manager

  • 22 yrs investment experience
  • 21 yrs with T. Rowe Price
  • M.B.A., Stanford Graduate School of Business
  • B.S., University of Illinois

Brian C. Dausch, CFA

Portfolio Specialist

  • 17 yrs investment experience
  • 16 yrs with T. Rowe Price
  • B.S., University of Delaware
For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.

Portfolio

94.50%
US StockAs of 04/30/15
The above percentages represent the largest asset allocation in the fund's portfolio.

Where is it available?

Institutional
Investor
Retail
Investor
Real Estate Fund
TRREX As of 12/31/13
NET 0.79%
GROSS 0.79%
Advisor Class
PAREX As of 12/31/13
NET 1.03%
GROSS 1.03%
Redemption Fee: 1.00% (90 days or less)

Who Is This For?

Investors seeking

long-term growth and current income through exposure to real estate companies and who can accept the greater risk of price declines inherent in a narrowly focused fund. Trends perceived to be unfavorable to real estate, such as changes in the tax laws or rising interest rates, could cause a decline in share prices.

Diversification cannot assure a profit or protect against loss in a declining market. As with all mutual funds, these funds are subject to market risk, including possible loss of principal.

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. The performance information shown does not reflect the deduction of a 1.00% redemption fee on shares held for 90 days or less. If it did, the performance would be lower. Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions.

(1) The T. Rowe Price Funds-Advisor Class share the portfolio of an existing fund (the original share class of the fund is referred to as the "investor class"). The total return figures for Advisor Class shares have been calculated using the performance data of the investor class up to the inception date of the Advisor Class (shown above) and the actual performance results of the Advisor Class since that date. (The inception date for the investor class is shown in its Average Annual Returns table.) The performance results of the investor class have not been adjusted to reflect the 12b-1 fee associated with the Advisor Class (0.25%). Had this fee been included, the performance would have been lower.

*The top ten holdings, attribution, and diversification data may be different for other share classes of this fund. Please contact us for more information

The above percentages represent the largest asset allocation and sector in the fund's portfolio.

(2) The information shown does not reflect any ETFs that may be held in the portfolio.

Numbers may not add to 100% due to rounding; all numbers are percentages.

Numbers may not add to 100% due to rounding; all numbers are percentages.

Numbers may not add to 100% due to rounding; all numbers are percentages.

Note: Analysis represents the equity-only performance of the portfolio as calculated by the Wilshire Atlas attribution model, and is exclusive of cash, trusts, mutual funds, de-listed securities and other non-equity holdings. Returns will not match official TRP performance because Wilshire uses different pricing and exchange rate sources and does not capture intra-day trading or fair-value pricing. Performance for each security is obtained in the local currency and, if necessary, is converted to U.S. Dollars using an exchange rate determined by an independent third party.

Source: Wilshire Atlas, MSCI/S&P Global Industry Classification Standard (GICS) sectors, Analysis by T. Rowe Price Associates, Inc. T. Rowe Price uses the MSCI/S&P Global Industry Classification Standard (GICS) for sector and industry reporting. Each year, MSCI and S&P review the GICS structure. The last change occurred on February 28, 2014. T. Rowe Price will adhere to all future updates to GICS for prospective reporting.

Figures are shown gross of fees. Past performance cannot guarantee future results.

Numbers may not add to 100% due to rounding; all numbers are percentages.

Need Help?

Contact the Advisor Services Group

(877) 561-7670

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Download Prospectus

Glossary

FAQs

Is this site for advisors? What do you mean by "Beta"?

This site is designed for advisors with their clients and is currently in Beta, which means that we're testing concepts and looking for your feedback. All of the information and data presented on the site are accurate. However, in order to add to it and improve on it over time, we need your help. Please rate your experience, and provide your honest feedback whenever possible.

Who is my wholesaler?

At T. Rowe Price, we don't have a typical wholesaler relationship. Instead, our investment consultants are here to assist you without the usual sales calls. They are available to answer your questions as you research our funds, communicate detailed color on our latest positioning, and offer guidance that can streamline your investment decisions.

How can I learn which funds are open, closed, or restricted?

By closing or restricting access to funds to new investors, we believe we preserve our ability to achieve the funds' objectives. To learn which funds are currently closed or restricted, please contact the Advisor Services Group directly at 1-877-561-7670.

What is the minimum investment for an institutional fund?

Institutional funds generally require a $1,000,000 minimum initial investment. There is no minimum for subsequent purchases. If you hold shares through a financial intermediary, the intermediary may impose different investment minimums.