Registration Nos. 002-99122/811-4358
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 /X/
Post-Effective Amendment No. 50 /X/
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 /X/
Amendment No. 48 /X/
T. ROWE PRICE NEW AMERICA GROWTH FUND
Exact Name of Registrant as Specified in Charter
100
East Pratt Street, Baltimore, Maryland 21202
Address of Principal Executive Offices
410-345-2000
Registrants
Telephone Number, Including Area Code
David Oestreicher
100 East Pratt Street, Baltimore, Maryland
21202
Name and Address of Agent for Service
It is proposed that this filing will become effective (check appropriate box):
/X/ Immediately upon filing pursuant to paragraph (b)
// On (date) pursuant to paragraph (b)
// 60 days after filing pursuant to paragraph (a)(1)
// On (date) pursuant to paragraph (a)(1)
// 75 days after filing pursuant to paragraph (a)(2)
// On (date) pursuant to paragraph (a)(2) of Rule 485
If appropriate, check the following box:
// This post-effective amendment designates a new effective date for a previously filed post-effective amendment.
Page 2
EXHIBITS
Exhibit | Exhibit No. |
XBRL Instance Document | EX-101.INS |
XBRL Taxonomy Extension Schema Document | EX-101.SCH |
XBRL Taxonomy Extension Calculation Linkbase Document | EX-101.CAL |
XBRL Taxonomy Extension Definition Linkbase Document | EX-101.DEF |
XBRL Taxonomy Extension Labels Linkbase Document | EX-101.LAB |
XBRL Taxonomy Extension Presentation Linkbase Document | EX-101.PRE |
Page 3
Signatures
Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Baltimore, State of Maryland, this May 15, 2017.
T. ROWE PRICE NEW AMERICA GROWTH FUND
/s/Edward C. Bernard
By: Edward C. Bernard
Chairman of the Board
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated:
Signature | Title | Date |
/s/Edward C. Bernard | Chairman of the Board | May 15, 2017 |
Edward C. Bernard | (Chief Executive Officer) | |
/s/Catherine D. Mathews | Treasurer | May 15, 2017 |
Catherine D. Mathews | (Chief Financial Officer) | |
and Vice President | ||
* | ||
Anthony W. Deering | Trustee | May 15, 2017 |
* | ||
Bruce W. Duncan | Trustee | May 15, 2017 |
* | ||
Robert J. Gerrard, Jr. | Trustee | May 15, 2017 |
* | ||
Paul F. McBride | Trustee | May 15, 2017 |
* | ||
Cecilia E. Rouse | Trustee | May 15, 2017 |
* | ||
John G. Schreiber | Trustee | May 15, 2017 |
* | ||
Mark. R. Tercek | Trustee | May 15, 2017 |
Page 4
*/s/David Oestreicher | Vice President and | May 15, 2017 |
David Oestreicher | Attorney-In-Fact |
Page 5
T. ROWE PRICE BALANCED FUND, INC.
T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.
T. ROWE PRICE CALIFORNIA TAX-FREE INCOME TRUST
T. ROWE PRICE CAPITAL APPRECIATION FUND
T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.
T. ROWE PRICE CORPORATE INCOME FUND, INC.
T. ROWE PRICE CREDIT OPPORTUNITIES FUND, INC.
T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.
T. ROWE PRICE DIVIDEND GROWTH FUND, INC.
T. ROWE PRICE EQUITY INCOME FUND
T. ROWE PRICE EQUITY SERIES, INC.
T. ROWE PRICE FINANCIAL SERVICES FUND, INC.
T. ROWE PRICE FIXED INCOME SERIES, INC.
T. ROWE PRICE FLOATING RATE FUND, INC.
T. ROWE PRICE GLOBAL ALLOCATION FUND, INC.
T. ROWE PRICE GLOBAL MULTI-SECTOR BOND FUND, INC.
T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.
T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.
T. ROWE PRICE GNMA FUND
T. ROWE PRICE GROWTH & INCOME FUND, INC.
T. ROWE PRICE GROWTH STOCK FUND, INC.
T. ROWE PRICE HEALTH SCIENCES FUND, INC.
T. ROWE PRICE HIGH YIELD FUND, INC.
T. ROWE PRICE INDEX TRUST, INC.
T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC.
T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.
T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC.
T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.
T. ROWE PRICE INTERMEDIATE TAX-FREE HIGH YIELD FUND, INC.
T. ROWE PRICE INTERNATIONAL FUNDS, INC.
T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.
T. ROWE PRICE INTERNATIONAL SERIES, INC.
T. ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND, INC.
T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.
T. ROWE PRICE MID-CAP GROWTH FUND, INC.
T. ROWE PRICE MID-CAP VALUE FUND, INC.
T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC.
T. ROWE PRICE NEW AMERICA GROWTH FUND
T. ROWE PRICE NEW ERA FUND, INC.
T. ROWE PRICE NEW HORIZONS FUND, INC.
T. ROWE PRICE NEW INCOME FUND, INC.
T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.
T. ROWE PRICE PRIME RESERVE FUND, INC.
T. ROWE PRICE QUANTITATIVE MANAGEMENT FUNDS, INC.
T. ROWE PRICE REAL ASSETS FUND, INC.
T. ROWE PRICE REAL ESTATE FUND, INC.
T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC.
T. ROWE PRICE RETIREMENT FUNDS, INC.
T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.
T. ROWE PRICE SHORT-TERM BOND FUND, INC.
Page 6
T. ROWE PRICE SMALL-CAP STOCK FUND, INC.
T. ROWE PRICE SMALL-CAP VALUE FUND, INC.
T. ROWE PRICE SPECTRUM FUND, INC.
T. ROWE PRICE STATE TAX-FREE INCOME TRUST
T. ROWE PRICE SUMMIT FUNDS, INC.
T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.
T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.
T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC.
T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC.
T. ROWE PRICE TAX-FREE INCOME FUND, INC.
T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC.
T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC.
T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.
T. ROWE PRICE U.S. TREASURY FUNDS, INC.
T. ROWE PRICE VALUE FUND, INC.
POWER OF ATTORNEY
RESOLVED, that the Corporation does hereby constitute and authorize Edward C. Bernard, Margery K. Neale, and David Oestreicher, and each of them individually, their true and lawful attorneys and agents to take any and all action and execute any and all instruments which said attorneys and agents may deem necessary or advisable to enable the Corporation/Trust to comply with the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, and any rules, regulations, orders or other requirements of the United States Securities and Exchange Commission thereunder, in connection with the registration under the Securities Act of 1933, as amended, of shares of the Corporation/Trust, to be offered by the Corporation/Trust, and the registration of the Corporation/Trust under the Investment Company Act of 1940, as amended, including specifically, but without limitation of the foregoing, power and authority to sign the name of the Corporation/Trust on its behalf, and to sign the names of each of such directors/trustees and officers on his behalf as such director/trustee or officer to any (i) Registration Statement on Form N-1A or N-14 of the Corporation/Trust filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended; (ii) Registration Statement on Form N-1A or N-14 of the Corporation/Trust under the Investment Company Act of 1940, as amended; (iii) amendment or supplement (including, but not limited to, Post-Effective Amendments adding additional series or classes of the Corporation/Trust) to said Registration Statement; and (iv) instruments or documents filed or to be filed as a part of or in connection with such Registration Statement, including Articles Supplementary, Articles of Amendment, and other instruments with respect to the Articles of Incorporation or Master Trust Agreement of the Corporation/Trust.
IN WITNESS WHEREOF, the above named Corporations/Trusts have caused these presents to be signed and the same attested by its Secretary, each thereunto duly authorized by its Board of Directors/Trustees, and each of the undersigned has hereunto set his hand and seal as of the day set opposite his name.
Page 7
ALL CORPORATIONS/TRUSTS /s/Edward C. Bernard | ||
Edward C. Bernard /s/Catherine D. Mathews | Chairman of the Board (Principal Executive Officer) Director/Trustee | April 21, 2016 |
Catherine D. Mathews /s/William R. Brody | Treasurer (Principal Financial Officer) Vice President | April 21, 2016 |
William R. Brody /s/Anthony W. Deering | Director/Trustee | April 21, 2016 |
Anthony W. Deering /s/Bruce W. Duncan | Director/Trustee | April 21, 2016 |
Bruce W. Duncan /s/Robert J. Gerrard, Jr. | Director/Trustee | April 21, 2016 |
Robert J. Gerrard, Jr. /s/Paul F. McBride | Director/Trustee | April 21, 2016 |
Paul F. McBride /s/Cecilia E. Rouse | Director/Trustee | April 21, 2016 |
Cecilia E. Rouse /s/John G. Schreiber | Director/Trustee | April 21, 2016 |
John G. Schreiber /s/Mark R. Tercek | Director/Trustee | April 21, 2016 |
Mark R. Tercek | Director/Trustee | April 21, 2016 |
(Signatures Continued)
Page 8
BRIAN C. ROGERS, Director/Trustee
T. ROWE PRICE BALANCED FUND, INC.
T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.
T. ROWE PRICE CAPITAL APPRECIATION FUND
T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.
T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.
T. ROWE PRICE DIVIDEND GROWTH FUND, INC.
T. ROWE PRICE EQUITY INCOME FUND
T. ROWE PRICE EQUITY SERIES, INC.
T. ROWE PRICE FINANCIAL SERVICES FUND, INC.
T. ROWE PRICE GLOBAL ALLOCATION FUND, INC.
T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.
T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.
T. ROWE PRICE GROWTH & INCOME FUND, INC.
T. ROWE PRICE GROWTH STOCK FUND, INC.
T. ROWE PRICE HEALTH SCIENCES FUND, INC.
T. ROWE INDEX TRUST, INC.
T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.
T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.
T. ROWE PRICE INTERNATIONAL FUNDS, INC.
T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.
T. ROWE PRICE INTERNATIONAL SERIES, INC.
T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.
T. ROWE PRICE MID-CAP GROWTH FUND, INC.
T. ROWE PRICE MID-CAP VALUE FUND, INC.
T. ROWE PRICE NEW AMERICA GROWTH FUND
T. ROWE PRICE NEW ERA FUND, INC.
T. ROWE PRICE NEW HORIZONS FUND, INC.
T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.
T. ROWE PRICE QUANTITATIVE MANAGEMENT FUNDS, INC.
T. ROWE PRICE REAL ASSETS FUND, INC.
T. ROWE PRICE REAL ESTATE FUND, INC.
T. ROWE PRICE RETIREMENT FUNDS, INC.
T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.
T. ROWE PRICE SMALL-CAP STOCK FUND, INC.
T. ROWE PRICE SMALL-CAP VALUE FUND, INC.
T. ROWE PRICE SPECTRUM FUND, INC.
T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.
T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.
T. ROWE PRICE VALUE FUND, INC.
/s/Brian C. Rogers
Brian C. Rogers | April 21, 2016 |
(Signatures Continued)
Page 9
EDWARD A. WIESE, Director/Trustee
T. ROWE PRICE CALIFORNIA TAX-FREE INCOME TRUST
T. ROWE PRICE CORPORATE INCOME FUND, INC.
T. ROWE PRICE CREDIT OPPORTUNITIES FUND, INC.
T. ROWE PRICE FIXED INCOME SERIES, INC.
T. ROWE PRICE FLOATING RATE FUND, INC.
T. ROWE PRICE GLOBAL MULTI-SECTOR BOND FUND, INC.
T. ROWE PRICE GNMA FUND
T. ROWE PRICE HIGH YIELD FUND, INC.
T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC.
T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC.
T. ROWE PRICE INTERMEDIATE TAX-FREE HIGH YIELD FUND, INC.
T. ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND, INC.
T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC.
T. ROWE PRICE NEW INCOME FUND, INC.
T. ROWE PRICE PRIME RESERVE FUND, INC.
T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC.
T. ROWE PRICE SHORT-TERM BOND FUND, INC.
T. ROWE PRICE STATE TAX-FREE INCOME TRUST
T. ROWE PRICE SUMMIT FUNDS, INC.
T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.
T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC.
T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC.
T. ROWE PRICE TAX-FREE INCOME FUND, INC.
T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC.
T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC.
T. ROWE PRICE U.S. TREASURY FUNDS, INC.
/s/Edward A. Wiese
Edward A. Wiese | April 21, 2016 |
(Signatures Continued)
Page 10
ATTEST:
/s/Darrell N. Braman
Darrell N. Braman, Secretary |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 485BPOS |
Document Period End Date | dei_DocumentPeriodEndDate | Dec. 31, 2016 |
Registrant Name | dei_EntityRegistrantName | T. Rowe Price New America Growth Fund |
Central Index Key | dei_EntityCentralIndexKey | 0000773485 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | Apr. 27, 2017 |
Document Effective Date | dei_DocumentEffectiveDate | May 01, 2017 |
Prospectus Date | rr_ProspectusDate | May 01, 2017 |
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T. Rowe Price New America Growth Fund | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
T. Rowe Price New America Growth Fund Investor Class I Class Advisor Class SUMMARY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Objective | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The fund seeks to provide long-term capital growth by investing primarily in the common stocks of growth companies. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fees and Expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fees and Expenses of the Fund Shareholder fees (fees paid directly from your investment) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Example | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Portfolio Turnover | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 92.7% of the average value of its portfolio. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Risks, and Performance Principal Investment Strategies | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The fund invests primarily (at least 65% of its total assets) in common stocks of U.S. companies operating in those sectors of the economy that, in T. Rowe Price’s view, are the fastest growing or have the greatest growth potential. The U.S. economy continues to evolve, in part because of the application of new technologies and scientific advances. Growing companies that are positioned to benefit from dynamic technological, social, medical, and business developments that help define the current U.S. economic landscape can be found across an array of industries. The fund’s allocation to industry sectors will generally reflect such factors as the overall revenue growth of the component companies in a sector and the sector’s contribution to U.S. gross domestic product from year to year, although the fund may at times invest significantly in stocks of technology companies. Holdings range from large-cap to small-cap companies. In selecting stocks, the advisor looks for many characteristics, typically including, but not limited to:
While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objectives. The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal Risks | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows: Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. If the investments selected and strategies employed by the fund fail to produce the intended results, the fund could underperform in comparison to other funds with similar objectives and investment strategies. Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry. Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund’s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market. Market capitalization risks Because the fund may invest in companies of any size, its share price could be more volatile than a fund that invests only in large companies. Small and medium-sized companies often have less experienced management, narrower product lines, more limited financial resources, and less publicly available information than larger companies. Larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and they may be less capable of responding quickly to competitive challenges and industry changes. Industry risks To the extent the fund invests in specific industries or sectors, it may be more susceptible to developments affecting those industries and sectors. For example, the fund may at times have significant investments in technology companies, which could result in the fund performing poorly during a downturn in one or more of the industries that heavily impact technology companies. Technology companies can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences. Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund’s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund’s Investor Class. Returns for other share classes vary since they have different expenses. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New America Growth Fund Calendar Year Returns | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The following table shows the average annual total returns for each class of the fund that has been in operation for at least one full calendar year, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund. In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account. After-tax returns are shown only for the Investor Class and will differ for other share classes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average Annual Total Returns Periods ended December 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Updated performance information is available through troweprice.com. |
Label | Element | Value | |||||||||||||
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Registrant Name | dei_EntityRegistrantName | T. Rowe Price New America Growth Fund | |||||||||||||
Prospectus Date | rr_ProspectusDate | May 01, 2017 | |||||||||||||
T. Rowe Price New America Growth Fund | |||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | T. Rowe Price New America Growth Fund Investor Class I Class Advisor Class SUMMARY |
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Objective [Heading] | rr_ObjectiveHeading | Investment Objective | |||||||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The fund seeks to provide long-term capital growth by investing primarily in the common stocks of growth companies. | |||||||||||||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses | |||||||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table. | |||||||||||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Fees and Expenses of the Fund Shareholder fees (fees paid directly from your investment) |
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Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) |
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Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | |||||||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 92.7% of the average value of its portfolio. | |||||||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 92.70% | |||||||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example | |||||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | |||||||||||||
Strategy [Heading] | rr_StrategyHeading | Investments, Risks, and Performance Principal Investment Strategies |
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Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The fund invests primarily (at least 65% of its total assets) in common stocks of U.S. companies operating in those sectors of the economy that, in T. Rowe Price’s view, are the fastest growing or have the greatest growth potential. The U.S. economy continues to evolve, in part because of the application of new technologies and scientific advances. Growing companies that are positioned to benefit from dynamic technological, social, medical, and business developments that help define the current U.S. economic landscape can be found across an array of industries. The fund’s allocation to industry sectors will generally reflect such factors as the overall revenue growth of the component companies in a sector and the sector’s contribution to U.S. gross domestic product from year to year, although the fund may at times invest significantly in stocks of technology companies. Holdings range from large-cap to small-cap companies. In selecting stocks, the advisor looks for many characteristics, typically including, but not limited to:
While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objectives. The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. |
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Risk [Heading] | rr_RiskHeading | Principal Risks | |||||||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows: Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. If the investments selected and strategies employed by the fund fail to produce the intended results, the fund could underperform in comparison to other funds with similar objectives and investment strategies. Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry. Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund’s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market. Market capitalization risks Because the fund may invest in companies of any size, its share price could be more volatile than a fund that invests only in large companies. Small and medium-sized companies often have less experienced management, narrower product lines, more limited financial resources, and less publicly available information than larger companies. Larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and they may be less capable of responding quickly to competitive challenges and industry changes. Industry risks To the extent the fund invests in specific industries or sectors, it may be more susceptible to developments affecting those industries and sectors. For example, the fund may at times have significant investments in technology companies, which could result in the fund performing poorly during a downturn in one or more of the industries that heavily impact technology companies. Technology companies can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences. Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund’s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors. |
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Risk Lose Money [Text] | rr_RiskLoseMoney | The fund's share price fluctuates, which means you could lose money by investing in the fund. | |||||||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance | |||||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund’s Investor Class. Returns for other share classes vary since they have different expenses. |
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Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The following performance information provides some indication of the risks of investing in the fund. The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund's Investor Class. Returns for other share classes vary since they have different expenses. The following table shows the average annual total returns for each class of the fund that has been in operation for at least one full calendar year, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund. |
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Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | troweprice.com | |||||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The fund's performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. | |||||||||||||
Bar Chart [Heading] | rr_BarChartHeading | New America Growth Fund Calendar Year Returns |
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Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock |
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Performance Table Heading | rr_PerformanceTableHeading | Average Annual Total Returns Periods ended December 31, 2016 |
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Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. | |||||||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account. | |||||||||||||
Performance Table One Class of after Tax Shown [Text] | rr_PerformanceTableOneClassOfAfterTaxShown | After-tax returns are shown only for the Investor Class and will differ for other share classes. | |||||||||||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | The following table shows the average annual total returns for each class of the fund that has been in operation for at least one full calendar year, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund. In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account. After-tax returns are shown only for the Investor Class and will differ for other share classes. |
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Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | Updated performance information is available through troweprice.com. | |||||||||||||
T. Rowe Price New America Growth Fund | Investor Class | |||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Maximum account fee | rr_MaximumAccountFee | $ 20 | [1] | ||||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.64% | |||||||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | ||||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.16% | |||||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 0.80% | |||||||||||||
1 year | rr_ExpenseExampleYear01 | $ 82 | |||||||||||||
3 years | rr_ExpenseExampleYear03 | 255 | |||||||||||||
5 years | rr_ExpenseExampleYear05 | 444 | |||||||||||||
10 years | rr_ExpenseExampleYear10 | $ 990 | |||||||||||||
2007 | rr_AnnualReturn2007 | 13.74% | |||||||||||||
2008 | rr_AnnualReturn2008 | (38.31%) | |||||||||||||
2009 | rr_AnnualReturn2009 | 49.33% | |||||||||||||
2010 | rr_AnnualReturn2010 | 19.34% | |||||||||||||
2011 | rr_AnnualReturn2011 | (0.41%) | |||||||||||||
2012 | rr_AnnualReturn2012 | 13.56% | |||||||||||||
2013 | rr_AnnualReturn2013 | 37.73% | |||||||||||||
2014 | rr_AnnualReturn2014 | 9.44% | |||||||||||||
2015 | rr_AnnualReturn2015 | 8.80% | |||||||||||||
2016 | rr_AnnualReturn2016 | 1.40% | |||||||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter | |||||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | |||||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 18.70% | |||||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter | |||||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | |||||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (25.70%) | |||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 1.40% | |||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 13.56% | |||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 8.93% | |||||||||||||
Since inception | rr_AverageAnnualReturnSinceInception | ||||||||||||||
Inception date | rr_AverageAnnualReturnInceptionDate | Sep. 30, 1985 | |||||||||||||
T. Rowe Price New America Growth Fund | I Class | |||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Maximum account fee | rr_MaximumAccountFee | ||||||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.64% | |||||||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | ||||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.02% | |||||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 0.66% | |||||||||||||
1 year | rr_ExpenseExampleYear01 | $ 67 | |||||||||||||
3 years | rr_ExpenseExampleYear03 | 211 | |||||||||||||
5 years | rr_ExpenseExampleYear05 | 368 | |||||||||||||
10 years | rr_ExpenseExampleYear10 | $ 822 | |||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 1.52% | |||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | ||||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | ||||||||||||||
Since inception | rr_AverageAnnualReturnSinceInception | 1.16% | |||||||||||||
Inception date | rr_AverageAnnualReturnInceptionDate | Dec. 17, 2015 | |||||||||||||
T. Rowe Price New America Growth Fund | Advisor Class | |||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
Maximum account fee | rr_MaximumAccountFee | ||||||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.64% | |||||||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | |||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.18% | |||||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 1.07% | |||||||||||||
1 year | rr_ExpenseExampleYear01 | $ 109 | |||||||||||||
3 years | rr_ExpenseExampleYear03 | 340 | |||||||||||||
5 years | rr_ExpenseExampleYear05 | 590 | |||||||||||||
10 years | rr_ExpenseExampleYear10 | $ 1,306 | |||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 1.13% | |||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 13.26% | |||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 8.66% | |||||||||||||
Since inception | rr_AverageAnnualReturnSinceInception | ||||||||||||||
Inception date | rr_AverageAnnualReturnInceptionDate | Dec. 30, 2005 | |||||||||||||
T. Rowe Price New America Growth Fund | Returns after taxes on distributions | Investor Class | |||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | (0.02%) | |||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 11.25% | |||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 7.39% | |||||||||||||
Since inception | rr_AverageAnnualReturnSinceInception | ||||||||||||||
Inception date | rr_AverageAnnualReturnInceptionDate | Sep. 30, 1985 | |||||||||||||
T. Rowe Price New America Growth Fund | Returns after taxes on distributions and sale of fund shares | Investor Class | |||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 1.93% | |||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 10.47% | |||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 6.97% | |||||||||||||
Since inception | rr_AverageAnnualReturnSinceInception | ||||||||||||||
Inception date | rr_AverageAnnualReturnInceptionDate | Sep. 30, 1985 | |||||||||||||
T. Rowe Price New America Growth Fund | S&P 500 Index (reflects no deduction for fees, expenses, or taxes) | |||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 11.96% | |||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 14.66% | |||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 6.95% | |||||||||||||
Since inception | rr_AverageAnnualReturnSinceInception | 11.67% | [2] | ||||||||||||
Inception date | rr_AverageAnnualReturnInceptionDate | Dec. 17, 2015 | |||||||||||||
T. Rowe Price New America Growth Fund | Russell 1000 Growth Index | |||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 7.08% | |||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 14.50% | |||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 8.33% | |||||||||||||
Since inception | rr_AverageAnnualReturnSinceInception | 6.81% | [2] | ||||||||||||
Inception date | rr_AverageAnnualReturnInceptionDate | Dec. 17, 2015 | |||||||||||||
T. Rowe Price New America Growth Fund | Lipper Multi-Cap Growth Funds Index | |||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 3.05% | |||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 13.30% | |||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 6.90% | |||||||||||||
Since inception | rr_AverageAnnualReturnSinceInception | 3.18% | [2] | ||||||||||||
Inception date | rr_AverageAnnualReturnInceptionDate | Dec. 17, 2015 | |||||||||||||
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Label | Element | Value |
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Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | T. Rowe Price New America Growth Fund |
Prospectus Date | rr_ProspectusDate | May 01, 2017 |
Document Creation Date | dei_DocumentCreationDate | Apr. 27, 2017 |
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