Morningstar Fund Report | 17/04/2025

T. Rowe Price Funds SICAV - US Large Cap Growth Equity Fund A USD

Performance History	31/03/2025

Growth of 1,000 (GBP)	Advanced Graph

	Fund	18.7	-27.1	40.3	33.6	-13.3
	+/-Cat	-3.2	-5.6	13.6	8.3	-2.7
	+/-B’mrk	-8.6	-3.9	8.2	-1.6	-1.1


Category: US Large-Cap Growth Equity
Category Benchmark: Morningstar US LM Brd Growt...

Key Stats
NAV 16/04/2025		USD 84.60
Day Change		-2.70%
Morningstar Category™		US Large-Cap Growth Equity
ISIN		LU0174119429
Fund Size (Mil) 16/04/2025		USD 2354.64
Share Class Size (Mil) 16/04/2025		USD 715.46
Max Initial Charge		5.00%
Ongoing Charge 17/02/2025		1.59%

Morningstar Research

Analyst Report	02/08/2024 Adam Sabban, Senior Analyst Morningstar, Inc
T. Rowe Price Large Cap Growth benefits from strong research resources and deep due diligence, earning its share classes and vehicles a Morningstar Analyst Rating of Silver or Bronze, depending on fees.Manager Taymour Tamaddon assumed control of...
Click here to read this analyst report on the underlying fund.

Morningstar Pillars
People	24
Parent	25
Process	24
Performance
Price

Investment Objective: T. Rowe Price Funds SICAV - US Large Cap Growth Equity Fund A USD

To increase the value of its shares, over the long term, through growth in the value of its investments.

Returns

Trailing Returns (GBP)	16/04/2025
YTD	-17.50
3 Years Annualised	8.83
5 Years Annualised	12.16
10 Years Annualised	14.01

12 Month Yield

0.00

Management

Manager Name Start Date
Taymour Tamaddon 01/01/2017
Jon Friar 01/04/2023
Inception Date 13/11/2003

Category Benchmark

Fund Benchmark	Morningstar Benchmark
Russell 1000 Growth Net 30%	Morningstar US LM Brd Growth NR USD

Portfolio Profile for T. Rowe Price Funds SICAV - US Large Cap Growth Equity Fund A USD	31/03/2025

Morningstar Style Box®

Equity Style

Asset Allocation

	% Long	% Short	% Net Assets
Stock	99.29	0.00	99.29
Bond	0.00	0.00	0.00
Property	0.00	0.00	0.00
Cash	1.10	0.39	0.71
Other	0.00	0.00	0.00

Top 5 Regions	%
United States	96.37
Canada	0.93
Asia - Emerging	0.83
Latin America	0.77
Europe - ex Euro	0.61

Top 5 Sectors		%
	Technology	48.85
	Healthcare	13.89
	Consumer Cyclical	13.06
	Communication Services	11.70
	Financial Services	8.18

Top 5 Holdings	Sector	%
Apple Inc	Technology	9.76
Microsoft Corp	Technology	9.54
NVIDIA Corp	Technology	8.54
Amazon.com Inc	Consumer Cyclical	8.24
Alphabet Inc Class A	Communication Services	4.52

Increase Decrease New since last portfolio
T. Rowe Price Funds SICAV - US Large Cap Growth Equity Fund A USD

Growth Of 1000 (GBP)

31/03/2025

	Fund: T. Rowe Price Funds SICAV - US Large Cap Growth Equity Fund A USD
	Category: US Large-Cap Growth Equity
	Category Index: Morningstar US LM Brd Growth NR USD

Annual Returns (GBP)						31/03/2025
	2018	2019	2020	2021	2022	2023	2024	31/03
Price Return	9.09	22.45	33.45	18.70	-27.14	40.26	33.62	-13.27
+/- Category	6.74	-4.78	2.30	-3.22	-5.62	13.56	8.27	-2.73
+/- Category Index	4.74	-6.89	1.54	-8.65	-3.88	8.23	-1.57	-1.06
% Rank in Category	9	86	35	81	80	16	16	85

Trailing Returns (GBP)			16/04/2025
	Total Returns	+/- Category	+/- Category Index
1 Day	-2.70	-2.33	-2.32
1 Week	2.04	-0.87	-3.60
1 Month	-8.45	-2.82	-1.68
3 Months	-19.39	-2.17	-0.23
6 Months	-9.86	-1.24	-2.16
YTD	-17.50	-2.37	-1.20
1 Year	-1.65	0.79	-3.64
3 Years Annualised	8.83	2.38	-0.32
5 Years Annualised	12.16	0.71	-2.17
10 Years Annualised	14.01	1.53	-0.05

Category: US Large-Cap Growth Equity
Category Index: Morningstar US LM Brd Growth NR USD

Quarterly Returns (GBP)				31/03/2025
	Quarter 1	Quarter 2	Quarter 3	Quarter 4
2025	-13.27	-	-	-
2024	13.15	7.63	-3.99	14.29
2023	11.38	11.82	3.44	8.88
2022	-8.46	-18.56	8.01	-9.51
2021	0.85	10.97	2.57	3.40
2020	-7.86	27.34	7.67	5.64

Morningstar Rating™(Relative to Category)

31/03/2025

	Morningstar Return	Morningstar Risk	Morningstar Rating™
3-Year	Above Average	Average
5-Year	Average	Average
10-Year	Above Average	Average
Overall	Above Average	Average

Click here to see our Methodology

Volatility Measurements

31/03/2025


3-Yr Std Dev	18.13 %
3-Yr Mean Return	10.70 %


3-Yr Sharpe Ratio	0.35

Modern Portfolio Statistics	31/03/2025	31/03/2025
	Standard Index	Best Fit Index
	Morningstar US LM Brd Growth NR USD	Morningstar US LM Brd Growth NR USD
3-Yr Beta	0.90	0.90
3-Yr Alpha	0.39	0.39

Investment Style Details

31/03/2025

Morningstar Style Box®

Equity Style

Size		Rel to Cat
Average Mkt Cap (Mil)	USD 510742	-


Market Capitalisation	% of Equity
Giant	65.07
Large	22.04
Medium	12.89
Small	0.00
Micro	0.00

Valuations and Growth Rates	Equity Portfolio	Relative to Category
Price/Prospective Earnings	26.81	1.02
Price/Book	7.43	1.20
Price/Sales	4.32	0.92
Price/Cash Flow	18.02	1.01
Dividend-Yield Factor	0.51	0.74

Long-Term Projected Earnings Growth	12.65	1.15
Historical Earnings Growth	22.25	1.27
Sales Growth	14.61	1.41
Cash-Flow Growth	18.60	1.03
Book-Value Growth	15.50	1.17

Asset Allocation

31/03/2025

	% Long	% Short	% Net Assets
Stock	99.29	0.00	99.29
Bond	0.00	0.00	0.00
Property	0.00	0.00	0.00
Cash	1.10	0.39	0.71
Other	0.00	0.00	0.00

World Regions

31/03/2025

	% of Equity	Relative to Category
United States	96.37	1.01
Canada	0.93	0.74
Latin America	0.77	1.25
United Kingdom	0.00	0.00
Eurozone	0.48	0.37
Europe - ex Euro	0.61	1.66
Europe - Emerging	0.00	-
Africa	0.00	-
Middle East	0.00	0.00
Japan	0.00	0.00
Australasia	0.00	-
Asia - Developed	0.00	0.00
Asia - Emerging	0.83	2.92

Sector Weightings

31/03/2025

	% of Equity	Relative to Category
Consumer Cyclical	13.06	0.87
Financial Services	8.18	0.79
Healthcare	13.89	1.19
Communication Services	11.70	0.97
Energy	0.63	0.66
Industrials	3.68	0.60
Technology	48.85	1.28

Top 10 Holdings

31/03/2025

	Portfolio NEW
Total Number of Equity Holdings	47
Total Number of Bond Holdings	0
Assets in Top 10 Holdings	57.72

Name	Sector	Country	% of Assets
Apple Inc		United States	9.76
Microsoft Corp		United States	9.54
NVIDIA Corp		United States	8.54
Amazon.com Inc		United States	8.24
Alphabet Inc Class A		United States	4.52
Meta Platforms Inc Class A		United States	4.47
Mastercard Inc Class A		United States	3.76
Intuit Inc		United States	3.30
Visa Inc Class A		United States	2.95
Fiserv Inc		United States	2.64

Increase Decrease New since last portfolio
Category: US Large-Cap Growth Equity

Management

Name of Company	T. Rowe Price (Luxembourg) Management S.à r.l.
Phone	+441268466339
Website	www.troweprice.com
Address	35, Boulevard du Prince Henri
	Luxembourg L-1724
	Luxembourg

Domicile	Luxembourg
Legal Structure	SICAV
UCITS	Yes
Inception Date	13/11/2003

Fund Advisor(s)
T. Rowe Price International Ltd

Fund Manager	Taymour Tamaddon
Manager Start Date	01/01/2017
Career Start Year	2003

Education

Cornell University, B.S.

Dartmouth College (Tuck), M.B.A.



Biography
Taymour R. Tamaddon is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Associates, Inc. He is also a vice president of the T. Rowe Price Institutional International Funds, Inc., and the T. Rowe Price International Funds, Inc. He joined the firm in 2004 after serving as a summer intern with T. Rowe Price in 2003, covering the eye care industry. Prior to this, Taymour was employed by Amazon.com in the areas of finance and merchandizing. He was also a consultant with Booz Allen and Hamilton, specializing in the energy industry.

Fund Manager	Jon Friar
Manager Start Date	01/04/2023



Biography
Jon Friar is associate portfolio manager of the US Large-Cap Growth Equity Strategy in the U.S. Equity Division. Previously, he was the portfolio manager for the business service strategy in the U.S. Equity Division. Jon is a member of the Investment Advisory Committees of the US Dividend Growth Equity, US Large-Cap Core Growth Equity, Financial Services Equity, US Growth Stock, US Small-Cap Growth II Equity, US Value Equity, and US Structured Research Equity Strategies. He is a vice president of T. Rowe Price Group, Inc. Jon’s investment experience began in 2007, and he has been with T. Rowe Price since 2011, beginning in the U.S. Equity Division following financial companies. Previously, Jon was an intern covering health care facility outsourcers for the U.S. Equity Division in the summer of 2010. Prior to this, Jon was employed by Barclays Capital as an associate in structured product sales. Jon earned a B.A. in government and foreign affairs from the University of Virginia and an M.B.A. from the University of Virginia, Darden School of Business.

Fees and Expenses

Sales Charges (Maximum)
Max Initial Charge	5.00%
Max Exit Charge*	n/a

Annual Charges
Max Annual Management Charge	1.50%
Ongoing Charge	1.59%

Purchase Details

Minimum Investments
Initial	-
Additional	100 USD
Savings	-

Tax Free Savings Schemes
ISAs	Yes