Registration Nos. 033-29697/811-5833
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. 89 /X/
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 /X/
Amendment No. 85 /X/
T. ROWE PRICE GLOBAL FUNDS, INC.
Exact Name of Registrant as Specified in Charter
100 East Pratt Street, Baltimore,
Maryland 21202
Address of Principal Executive Offices
410-345-2000
Registrant’s Telephone Number,
Including Area Code
David Oestreicher
100 East Pratt Street, Baltimore, Maryland 21202
Name and
Address of Agent for Service
Approximate Date of Proposed Public Offering May 1, 2020
It is proposed that this filing will become effective (check appropriate box):
// Immediately upon filing pursuant to paragraph (b)
/X / On May 1, 2020 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.
PROSPECTUS May 1, 2020 | ||||
T. ROWE PRICE | ||||
TREBX | Institutional Emerging Markets Bond Fund | |||
The Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense. Beginning on January 1, 2021, as permitted by SEC regulations, paper copies of the T. Rowe Price funds’ annual and semiannual shareholder reports will no longer be mailed, unless you specifically request them. Instead, shareholder reports will be made available on the funds’ website (troweprice.com/prospectus), and you will be notified by mail with a website link to access the reports each time a report is posted to the site. If you already elected to receive reports electronically, you will not be affected by this change and need not take any action. At any time, shareholders who invest directly in T. Rowe Price funds may generally elect to receive reports or other communications electronically by enrolling at troweprice.com/paperless or, if you are a retirement plan sponsor or invest in the funds through a financial intermediary (such as an investment advisor, broker-dealer, insurance company, or bank), by contacting your representative or your financial intermediary. You may elect to continue receiving paper copies of future shareholder reports free of charge. To do so, if you invest directly with T. Rowe Price, please call T. Rowe Price as follows: IRA, nonretirement account holders, and institutional investors, 1-800-225-5132; small business retirement accounts, 1-800-492-7670. If you are a retirement plan sponsor or invest in the T. Rowe Price funds through a financial intermediary, please contact your representative or financial intermediary, or follow additional instructions if included with this document. Your election to receive paper copies of reports will apply to all funds held in your account with your financial intermediary or, if you invest directly in the T. Rowe Price funds, with T. Rowe Price. Your election can be changed at any time in the future. | ||||
Table of Contents
1 | SUMMARY | ||
2 | MORE ABOUT THE FUND | ||
More Information About the Fund’s | |||
3 | INFORMATION ABOUT ACCOUNTS | ||
Investing with T. Rowe Price 31 Payments to Financial Intermediaries 32 Policies for Opening an Account 34 Pricing of Shares and Transactions 35 General Policies and Requirements 40 |
SUMMARY | 1 | |
The fund seeks to provide high income and capital appreciation.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy, hold, and sell 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
Annual
fund operating expenses | ||
Management fees | 0.70 | % |
Other expenses | — | |
Total annual fund operating expenses | 0.70 |
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:
1 year | 3 years | 5 years | 10 years |
$72 | $224 | $390 | $871 |
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 44.7% of the average value of its portfolio.
Investments, Risks, and Performance
Principal Investment Strategies
The fund will normally invest at least 80% (and potentially all) of its net assets (including any borrowings for investment purposes) in debt securities of emerging market governments or companies located in emerging market countries. The fund considers frontier markets to be a subset of emerging markets and any investments in frontier markets will be counted toward the fund’s 80% investment policy. The fund relies on a classification by either JP Morgan or the International Monetary Fund to determine which countries are emerging markets. The fund’s holdings may be denominated in U.S. dollars or non-U.S. dollar currencies, including
T. ROWE PRICE | 2 |
emerging market currencies. The extent, if any, to which the fund attempts to cushion the impact of foreign currency fluctuations on the U.S. dollar depends on market conditions. The fund’s holdings may include the lowest-rated bonds, including those in default, and there are no overall limits on the fund’s investments that are rated below investment-grade (BB or lower, or an equivalent rating), also known as “junk” bonds.
Although the fund expects to maintain an intermediate- to long-term weighted average maturity, there are no maturity restrictions on the overall portfolio or on individual securities. Security selection relies heavily on research, which analyzes political and economic trends as well as creditworthiness. The fund allocates investments among a variety of emerging markets (1) in order to establish a diverse portfolio; (2) based on the relative value of opportunities and associated risks within one country versus others; and (3) with a view to the liquidity of each particular market. The fund tends to favor bonds it expects will be upgraded. The fund sells holdings for a variety of reasons, such as to adjust its average maturity or credit quality, to shift assets into and out of higher-yielding securities, or to alter geographic or currency exposure.
The fund is “nondiversified,” meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a “diversified” fund.
While most assets will be invested in bonds, the fund may enter into forward currency exchange contracts in keeping with its objective(s). Forward currency exchange contracts would primarily be used to help protect the fund’s non-U.S. dollar denominated holdings from unfavorable changes in foreign currency exchange rates, although other currency hedging techniques may be used from time to time.
Principal Risks
As with any fund, there is no guarantee that the fund will achieve its objective(s). 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, which may be even greater during periods of market disruption or volatility, are summarized as follows:
Market conditions The value of the fund’s investments may decrease, sometimes rapidly or unexpectedly, due to factors affecting an issuer held by the fund, particular industries, or the overall securities markets. A variety of factors can increase the volatility of the fund’s holdings and markets generally, including political or regulatory developments, recessions, inflation, rapid interest rate changes, war or acts of terrorism, natural disasters, and outbreaks of infectious illnesses or other widespread public health issues. Certain events may cause instability across global markets, including reduced liquidity and disruptions in trading markets, while some events may affect certain geographic regions, countries, sectors, and industries more significantly than others. These adverse developments may cause broad declines in market value due to short-term market movements or for significantly longer periods during more prolonged market downturns.
International investing Investing in the securities of non-U.S. issuers involves special risks not typically associated with investing in U.S. issuers. Non-U.S. securities tend to be more volatile and have lower overall liquidity than investments in U.S. securities and may lose value
SUMMARY | 3 |
because of adverse local, political, social, or economic developments overseas, or due to changes in the exchange rates between foreign currencies and the U.S. dollar. In addition, investments outside the U.S. are subject to settlement practices and regulatory and financial reporting standards that differ from those of the U.S. The risks of investing outside the U.S. are heightened for any investments in emerging markets, which are susceptible to greater volatility than investments in developed markets.
Emerging markets Investments in emerging market countries are subject to greater risk and overall volatility than investments in the U.S. and developed markets. Emerging market countries tend to have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries. In addition to the risks associated with investing outside the U.S., emerging markets are more susceptible to governmental interference, political and economic uncertainty, local taxes and restrictions on the fund’s investments, less efficient trading markets with lower overall liquidity, and more volatile currency exchange rates.
Frontier markets Frontier markets generally have smaller economies and less mature capital markets than emerging markets. As a result, the risks associated with investing in emerging market countries are magnified in frontier market countries. Frontier markets are more susceptible to abrupt changes in currency values, have less mature markets and settlement practices, and can have lower trading volumes that could lead to greater price volatility and illiquidity. Investor protections in frontier market countries may be limited and settlement procedures and custody services may prove inadequate in certain markets.
Investing in Latin America Many Latin American countries have histories of inflation, government overspending, political instability, high interest, and extreme currency fluctuations. Many of these countries tend to be highly reliant on the exportation of commodities so their economies may be significantly impacted by fluctuations in commodity prices and the global demand for certain commodities.
Currency exposure Because the fund invests in securities issued in foreign currencies, the fund is subject to the risk that it could experience losses based solely on the weakness of foreign currencies versus the U.S. dollar and changes in the exchange rates between such currencies and the U.S. dollar.
Fixed income markets Economic and other market developments can adversely affect the fixed income securities markets. At times, participants in these markets may develop concerns about the ability of certain issuers of debt instruments to make timely principal and interest payments, or they may develop concerns about the ability of financial institutions that make markets in certain debt instruments to facilitate an orderly market. Those concerns could cause increased volatility and reduced liquidity in particular securities or in the overall fixed income markets and the related derivatives markets. A lack of liquidity or other adverse credit market conditions may hamper the fund’s ability to sell the debt instruments in which it invests or to find and purchase suitable debt instruments.
T. ROWE PRICE | 4 |
Sector exposure At times, the fund may have a significant portion of its assets invested in securities of issuers conducting business in a broadly related group of industries within the same economic sector. Issuers in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.
Junk investing Investments in bonds that are rated below investment grade, commonly referred to as junk bonds, expose the fund to greater volatility and credit risk than investments in bonds that are rated investment-grade. Issuers of junk bonds are usually not as strong financially and are more likely to suffer an adverse change in financial condition that would result in the inability to meet a financial obligation. As a result, bonds rated below investment grade carry a higher risk of default and should be considered speculative.
Credit quality An issuer of a debt instrument could suffer an adverse change in financial condition that results in a payment default (failure to make scheduled interest or principal payments), rating downgrade, or inability to meet a financial obligation. Securities that are rated below investment grade carry greater risk of default and should be considered speculative.
Interest rates The prices of, and the income generated by, debt instruments held by the fund may be affected by changes in interest rates. A rise in interest rates typically causes the price of a fixed rate debt instrument to fall and its yield to rise. Conversely, a decline in interest rates typically causes the price of a fixed rate debt instrument to rise and the yield to fall. Generally, funds with longer weighted average maturities and durations carry greater interest rate risk.
Derivatives The use of forward currency exchange contracts exposes the fund to greater volatility and losses in comparison to investing directly in foreign bonds. Forward currency exchange contracts are also subject to the risks that anticipated currency movements will not be accurately predicted, a counterparty will fail to perform in accordance with the terms of the agreement, and the risk that potential government regulation could negatively affect the fund’s investments in such instruments. Changes in regulations could significantly impact the fund’s ability to invest in specific types of derivatives, which could limit the fund’s ability to employ certain strategies that use derivatives.
Nondiversification As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The fund’s share price can be expected to fluctuate more than that of a similar fund that is more broadly diversified.
Liquidity The fund may not be able to meet requests to redeem shares issued by the fund without significant dilution of the remaining shareholders’ interest in the fund. In addition, the fund may not be able to sell a holding in a timely manner at a desired price. Reduced liquidity in the bond markets can result from a number of events, such as limited trading activity, reductions in bond inventory, and rapid or unexpected changes in interest rates. Markets with
SUMMARY | 5 |
lower overall liquidity could lead to greater price volatility and limit the fund’s ability to sell a holding at a suitable price.
Active management The fund’s overall investment program and holdings selected by the fund’s investment adviser may underperform the broad markets, relevant indices, or other funds with similar objectives and investment strategies.
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.
The following table shows the average annual total returns for the fund, 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, if applicable.
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
T. ROWE PRICE | 6 |
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 an IRA.
Average Annual Total Returns |
|
|
|
| |||||||||
|
|
| Periods ended |
| |||||||||
|
|
| December 31, 2019 |
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Inception |
| |
|
|
| 1 Year |
|
| 5 Years |
|
| 10 Years |
| date |
| |
| Institutional Emerging Markets Bond Fund |
|
|
|
|
|
|
|
| 11/30/2006 |
|
| |
|
| Returns before taxes | 12.68 | % |
| 6.25 | % |
| 6.44 | % |
|
|
|
|
| Returns after taxes on distributions | 10.25 |
|
| 3.66 |
|
| 3.78 |
|
|
|
|
|
| Returns after taxes on distributions |
|
|
|
|
|
|
|
|
|
|
|
|
| and sale of fund shares | 7.46 |
|
| 3.64 |
|
| 3.92 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| J.P. Morgan Emerging Markets Bond Index Global Diversified (reflects no deduction for fees, expenses, or taxes) |
|
|
| |||||||||
|
| 15.04 |
|
| 6.24 |
|
| 6.90 |
|
|
|
|
Updated performance information is available through troweprice.com.
Management
Investment Adviser T. Rowe Price Associates, Inc. (T. Rowe Price or Price Associates)
Portfolio Manager | Title | Managed | Joined |
Michael J. Conelius | Chairman of Investment Advisory Committee | 2006 | 1988 |
Purchase and Sale of Fund Shares
The fund generally requires a $1 million minimum initial investment and there is no minimum for additional purchases, although the initial investment minimum may be waived for certain types of accounts held through a retirement plan, financial advisor, or other financial intermediary.
For investors holding shares of the fund directly with T. Rowe Price, you may purchase, redeem, or exchange fund shares by mail or by telephone (1-800-638-8790).
If you hold shares through a financial intermediary or retirement plan, you must purchase, redeem, and exchange shares of the fund through your intermediary or retirement plan. You should check with your intermediary or retirement plan to determine the investment minimums that apply to your account.
SUMMARY | 7 |
Tax Information
The fund declares dividends daily and pays them on the first business day of each month. Any capital gains are declared and paid annually, usually in December. Redemptions or exchanges of fund shares and distributions by the fund, whether or not you reinvest these amounts in additional fund shares, generally may be taxed as ordinary income or capital gains unless you invest through a tax-deferred account (in which case you will be taxed upon withdrawal from such account).
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase shares of the fund through a broker-dealer or other
financial intermediary (such as a bank), the fund and its related companies may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the fund over another investment. Ask your salesperson or visit your financial intermediary’s website for more information.
MORE ABOUT THE FUND | 2 | |
Investment Adviser(s)
T. Rowe Price is the fund’s investment adviser and oversees the selection of the fund’s investments and management of the fund’s portfolio pursuant to an investment management agreement between the investment adviser and the fund. T. Rowe Price is the investment adviser for all mutual funds sponsored and managed by T. Rowe Price (T. Rowe Price Funds), and is an SEC-registered investment adviser that provides investment management services to individual and institutional investors, and sponsors and serves as adviser and subadviser to registered investment companies, institutional separate accounts, and common trust funds. The address for T. Rowe Price is 100 East Pratt Street, Baltimore, Maryland 21202. As of December 31, 2019, T. Rowe Price and its affiliates (Firm) had approximately $1.21 trillion in assets under management and provided investment management services for more than 7 million individual and institutional investor accounts.
Portfolio Management
T. Rowe Price has established an Investment Advisory Committee with respect to the fund. The committee chairman is ultimately responsible for the day-to-day management of the fund’s portfolio and works with the committee in developing and executing the fund’s investment program. The members of the committee are as follows: Michael J. Conelius, Chairman, Roy H. Adkins, Peter I. Botoucharov, Tala Boulos, Carolyn Hoi Che Chu, Bridget A. Ebner, Aaron Gifford, Richard L. Hall, Arif Husain, Andrew J. Keirle, Christopher J. Kushlis, and Kenneth A. Orchard. The following information provides the year that the chairman (portfolio manager) first joined the Firm and the chairman’s specific business experience during the past five years (although the chairman may have had portfolio management responsibilities for a longer period). Mr. Conelius has been chairman of the committee since the fund’s inception in 2006. He joined the Firm in 1988 and his investment experience dates from that time. He has served as a portfolio manager with the Firm throughout the past five years. The Statement of Additional Information provides additional information about the portfolio manager’s compensation, other accounts managed by the portfolio manager, and the portfolio manager’s ownership of the fund’s shares.
The Management Fee
The fund pays the investment adviser an annual all-inclusive management fee of 0.70% based on the fund’s average daily net assets. The management fee is calculated and accrued daily and it includes investment management services and ordinary, recurring operating expenses, but does not cover interest; expenses related to borrowings, taxes, and brokerage and other transaction costs; or nonrecurring, extraordinary expenses.
MORE ABOUT THE FUND | 9 |
A discussion about the factors considered by the fund’s Board of Directors (Board) and its conclusions in approving the fund’s investment management agreement (and any subadvisory agreement, if applicable) appear in the fund’s semiannual report to shareholders for the period ended June 30.
Investment Objective(s)
The fund seeks to provide high income and capital appreciation.
The investment objective is a fundamental policy and shareholder approval is required to substantially change it. As with any fund, there is no guarantee the fund will achieve its objective.
Principal Investment Strategies
Consider your investment goals, your time horizon for achieving them, and your tolerance for risk. The fund may be appropriate for you if you seek diversification for your equity or domestic fixed income investments and can accept the risks that accompany foreign investing, including the potentially greater volatility associated with emerging markets. Your decision should also take into account whether you have any other foreign bond investments. If you can accept the possibility of share price declines in an effort to achieve high income and some capital growth, including the potentially greater volatility associated with emerging markets, the fund could be an appropriate part of your overall investment strategy.
The fund focuses its investments on issuers in emerging markets and has wide flexibility to choose among bonds issued in local currencies or the U.S. dollar, and to choose among corporate and sovereign issuers. Investments in bonds issued in foreign currencies may afford investors a potential hedge against weakness in the U.S. dollar, although such investments could be significantly affected by changes in the exchange rates between the U.S. dollar and the currencies in which the fund’s holdings are denominated and traded.
Security selection relies heavily on in-depth research that analyzes various factors such as the creditworthiness of particular issuers, shifts in country fundamentals, political and economic trends, anticipated currency movements, and the risk adjusted attractiveness of various countries. The fund ordinarily invests in the securities of at least three countries; however, it may invest in the securities of one country, including the U.S., for temporary defensive purposes.
The fund may enter into forward currency exchange contracts in an effort to hedge against an expected decline in the value of currencies in which its portfolio holdings are denominated, to increase exposure to a particular foreign currency or to shift the fund’s foreign currency exposure from one country to another, or to enhance the fund’s returns.
T. ROWE PRICE | 10 |
Funds that invest overseas generally carry more risk than funds that invest strictly in U.S. assets.
The risk profile of the fund varies with the maturity and credit quality of bonds it purchases and its degree of currency exposure.
The Firm integrates environmental, social, and governance (ESG) factors into its investment research process. We focus on the ESG factors we consider most likely to have a material impact on the performance of the holdings in the fund’s portfolio.
Principal Risks
Some of the principal tools the adviser uses to try to reduce overall risk include intensive research when evaluating a company’s prospects and limiting exposure to certain industries, asset classes, or investment styles when appropriate.
Consistent with the fund’s objective, the portfolio manager uses various tools to try to reduce risks and increase total return, including:
· thorough credit research performed by T. Rowe Price analysts;
· analysis of industry, country, and regional fundamentals;
· adjusting the fund’s duration to try to reduce the drop in its share price when interest rates rise or to benefit from a rise in bond prices when interest rates fall. (For example, when interest rates rise, the portfolio manager may seek to lower the fund’s overall duration in an effort to reduce the adverse impact on the fund’s share price.); and
· management of the impact of foreign currency changes on the fund’s portfolio.
The principal risks associated with the fund’s principal investment strategies include the following:
Market conditions The value of investments held by the fund may decline, sometimes rapidly or unpredictably, due to factors affecting certain issuers, particular industries or sectors, or the overall markets. Rapid or unexpected changes in market conditions could cause the fund to liquidate its holdings at inopportune times or at a loss or depressed value. The value of a particular holding may decrease due to developments related to that issuer, but also due to general market conditions, including real or perceived economic developments such as changes in interest rates, credit quality, inflation, or currency rates, or generally adverse investor sentiment. The value of a holding may also decline due to factors that negatively affect a particular industry or sector, such as labor shortages, increased production costs, or competitive conditions. In addition, local, regional or global events such as war, acts of terrorism, political and social unrest, regulatory changes, recessions, shifts in monetary or trade policies, natural or environmental disasters, and the spread of infectious diseases or other public health issues could have a significant negative impact on securities markets and the fund’s investments. Unpredictable events such as natural disasters, pandemics, and widespread health crises may lead to unexpected suspensions or closures of securities exchanges, travel restrictions or quarantines, and an extended adverse impact on global market conditions.
MORE ABOUT THE FUND | 11 |
International investing Investments outside the U.S. may lose value because of declining foreign currencies or adverse political or economic events overseas, among other things. Securities of non-U.S. issuers (including depositary receipts and other instruments that represent interests in a non-U.S. issuer) tend to be more volatile than U.S. securities and are subject to trading markets with lower overall liquidity, governmental interference, and regulatory and accounting standards and settlement practices that differ from the U.S. The fund could experience losses based solely on the weakness of foreign currencies in which the fund’s holdings are denominated versus the U.S. dollar, and changes in the exchange rates between such currencies and the U.S. dollar. Risks can result from differing regulatory environments, less stringent investor protections, uncertain tax laws, and higher transaction costs compared to U.S. markets. Investments outside the U.S. could be subject to governmental actions such as capital or currency controls, nationalization of a company or industry, expropriation of assets, or imposition of high taxes.
A trading market may close for national holidays or without warning for extended time periods, preventing the fund from buying or selling securities in that market. Trading securities in which the fund invests may take place in various foreign markets on certain days when the fund is not open for business and does not calculate its net asset value. For example, the fund may invest in securities that trade in various foreign markets that are open on weekends. As the securities trade, their value may substantially change. As a result, the fund’s net asset value may be significantly affected on days when shareholders cannot make transactions. In addition, market volatility may significantly limit the liquidity of securities of certain issuers in a particular country or geographic region, or of all companies in the country or region. The fund may be unable to liquidate its positions in such securities at any time, or at a favorable price, in order to meet the fund’s obligations.
Emerging markets Investments in emerging markets are subject to the risk of abrupt and severe price declines. The economic and political structures of emerging market countries, in most cases, do not compare favorably with the U.S. or other developed countries in terms of wealth and stability, and their financial markets often lack liquidity. These economies are less developed, can be overly reliant on particular industries, and are more vulnerable to the ebb and flow of international trade, trade barriers, and other protectionist or retaliatory measures. Governments in many emerging market countries participate to a significant degree in their economies and securities markets. As a result, foreign investments may be restricted and subject to greater government control, including repatriation of sales proceeds. Emerging market securities exchanges are more likely to experience problems with the clearing and settling of trades, as well as the custody of holdings by local banks, agents, and depositories. In addition, the accounting standards in emerging market countries may be unreliable and could present an inaccurate picture of a company’s finances. Some countries have histories of instability and upheaval that could cause their governments to act in a detrimental or hostile manner toward private enterprise or foreign investment. Investments in countries or regions that have recently begun moving away from central planning and state-owned industries toward free markets should be regarded as speculative.
T. ROWE PRICE | 12 |
While some countries have made progress in economic growth, liberalization, fiscal discipline, and political and social stability, there is no assurance these trends will continue. Significant risks, such as war and terrorism, currently affect some emerging market countries. The fund’s performance will likely be hurt by exposure to nations in the midst of hyperinflation, currency devaluation, trade disagreements, sudden political upheaval, or interventionist government policies. The volatility of emerging markets may be heightened by the actions (such as significant buying or selling) of a few major investors. For example, substantial increases or decreases in cash flows of mutual funds investing in these markets could significantly affect local securities prices and, therefore, could cause fund share prices to decline.
Frontier markets Frontier market countries tend to have economic structures that are less diverse and mature, and political systems that are less stable, than those of emerging market or developed market countries. In addition to the risks of investing in international emerging markets, frontier markets tend to have less efficient trading markets with lower overall liquidity and are more susceptible to governmental interference, local taxes being imposed on international investments, and restrictions on gaining access to sales proceeds. The possibility of a securities exchange closing unexpectedly for a long period of time is much greater in a frontier market. Frontier markets generally have smaller economies or less mature capital markets than emerging markets and, as a result, the risks typically associated with investing in emerging market countries are magnified in frontier countries. Certain frontier market countries may impose restrictions on foreign investments and repatriation of investment income and capital.
Adverse changes in currency values of frontier market countries may be severe and settlement procedures and custody services may prove inadequate in certain markets. The markets of frontier countries typically have low trading volumes and the potential for extreme price volatility and illiquidity. This volatility may be further increased by the actions of a few major investors. For example, a substantial increase or decrease in cash flows of mutual funds investing in these markets could significantly affect local stock prices and, therefore, the net asset value of the fund. In addition, frontier market securities may have different clearance and settlement procedures, which may be unable to keep pace with the volume of securities transactions or otherwise make it difficult to engage in such transactions. Custody services in many frontier market countries remain undeveloped and, although the fund’s custodian will seek to establish control mechanisms, including the selection of appropriate sub-custodians to hold securities on behalf of the fund, there is greater transaction and custody risk in dealing in securities of frontier market countries. Overall, the laws and market practices of frontier market countries carry fewer safeguards than more mature markets, including, for example, the protection against claims from general creditors in the event of the insolvency of an agent selected to hold securities on behalf of the fund.
Investing in Latin America Many Latin American economies are considered emerging markets and are prone to high interest rates, inflation, and unemployment rates. Currency devaluations in any one Latin American country can have a significant effect on the entire Latin American region. Because commodities such as oil and gas, minerals, and metals represent a significant percentage of the region’s exports, the economies of some Latin
MORE ABOUT THE FUND | 13 |
American countries are particularly sensitive to fluctuations in commodity prices. A relatively small number of Latin American companies represents a large portion of Latin America’s total market and thus may be more sensitive to adverse political or economic circumstances and market movements.
Currency exposure A decline in the value of a foreign currency versus the U.S. dollar could reduce the dollar value of securities denominated in that foreign currency. The overall impact on the fund’s holdings can be significant, unpredictable, and long-lasting, depending on the currencies represented in the fund’s portfolio, how each foreign currency appreciates or depreciates in relation to the U.S. dollar, and whether currency positions are hedged. Further, any attempts at hedging could be unsuccessful and it can be difficult to effectively hedge the currency risks of many emerging market countries.
Fixed income markets The market price of investments owned by the fund may go up or down, sometimes rapidly or unpredictably. The fund’s investments may decline in value due to factors affecting the overall fixed income markets, or particular industries or sectors. The value of a holding may decline due to developments related to a particular issuer, but also due to general fixed income market conditions, including real or perceived adverse economic developments such as changes in interest rates, credit quality, inflation, or currency rates, or generally adverse investor sentiment. The value of a holding may also decline due to factors that negatively affect a particular industry, such as labor shortages, increased production costs, or competitive conditions. The fund may experience heavy redemptions that could cause it to liquidate its assets at inopportune times or at a loss or depressed value.
Sector exposure At times, the fund may have a significant portion of its assets invested in securities of issuers conducting business in a related group of industries within the same economic sector. Issuers within the same economic sector may be similarly affected by specific market events impacting that sector. As a result, the fund is more susceptible to adverse developments affecting an economic sector in which the fund has significant investments and may perform poorly during a downturn in one or more of the industries within that economic sector.
Junk investing Junk investing subjects the fund to heightened credit risk. Issuers of junk bonds are not as strong financially as those with higher credit ratings, so the issuers are more vulnerable to financial setbacks and recession than more creditworthy issuers, which may impair their ability to make interest and principal payments. As a result, below investment grade investments carry greater risks of default and erratic price swings due to real or perceived changes in the credit quality of the issuer.
Because the credit quality of the issuer is lower, such bonds are more sensitive to developments affecting the issuer’s underlying fundamentals, such as changes in financial condition or a particular country’s general economy. In addition, the entire below investment-grade bond market can experience sudden and sharp price swings due to a variety of factors, including changes in economic forecasts, stock market activity, large sustained sales by institutional investors, a high-profile default, or a change in the market’s psychology. This type of volatility is usually associated more with stocks than bonds, but investors in lower-quality bonds should
T. ROWE PRICE | 14 |
also anticipate it. Since mutual funds can be a major source of demand in certain junk bond markets, substantial cash flows into and out of these funds can affect junk bond prices. If, for example, a significant number of funds were to sell bonds to meet shareholder redemptions, both bond prices and funds’ share prices could fall more than underlying fundamentals might justify.
Any investments in distressed or defaulted securities subject the fund to even greater credit risk than investments in other below investment-grade investments. Investments in obligations of restructured, distressed, and bankrupt issuers, including debt obligations that are already in default, generally trade significantly below par and may lack liquidity. Defaulted securities might be repaid only after lengthy bankruptcy proceedings, during which the issuer might not make any interest or other payments, and such proceedings may result in only partial recovery of principal or no recovery at all. Recovery could involve an exchange of the defaulted obligation for other debt instruments or equity securities of the issuer or its affiliates, each of which may in turn lack liquidity or be speculative and be valued by the fund at significantly less than its original purchase price. In addition, investments in distressed issuers may subject the fund to liability as a lender. Emerging market bonds generally have lower overall creditworthiness and liquidity than bonds issued by companies and governments in developed countries. Consequently, large purchases or sales of certain emerging market debt issues may cause significant changes in their prices. Because many of these bonds do not trade frequently, when they do trade, their prices may be substantially higher or lower than had been expected. Certain emerging market governments and corporations have in the past defaulted on payments of interest and principal on debt they have issued. As a result, the fund’s adviser relies heavily on proprietary research when selecting these investments.
Credit quality An issuer of a debt instrument held by the fund could default (fail to make scheduled interest or principal payments), potentially reducing the fund’s income and share price. Credit risk is increased when portfolio holdings are downgraded or the perceived financial condition of an issuer deteriorates. Holdings with an investment-grade rating (AAA through BBB, or an equivalent rating) should have a relatively low risk of encountering financial problems and a relatively high probability of future payments. However, holdings rated BBB (or an equivalent rating) are more susceptible to adverse economic conditions than other investment-grade holdings and may have speculative characteristics. Holdings rated below investment grade should be regarded as speculative because their issuers may be more susceptible to financial setbacks and recession than more creditworthy issuers.
Interest rates The prices of bonds and other fixed income securities typically increase as interest rates fall and prices typically decrease as interest rates rise (bond prices and interest rates usually move in opposite directions). Prices fall because the bonds and notes in the fund’s portfolio become less attractive to other investors when securities with higher yields become available. Generally, securities with longer maturities or durations and funds with longer weighted average maturities or durations have greater interest rate risk. As a result, in a rising interest rate environment, the net asset value of a fund with a longer weighted average maturity or duration typically decreases at a faster rate than the net asset value of a fund with a shorter weighted average maturity or duration. Interest rates have recently been near historically low
MORE ABOUT THE FUND | 15 |
levels. Extremely low or negative interest rates may increase the fund’s susceptibility to interest rate risk and reduce the fund’s yield. In addition, recent and potential future changes in monetary policy made by central banks and/or governments are likely to affect the level of interest rates. As a result, rapid changes in interest rates may increase the fund’s overall exposure to interest rate risk. In addition, changes in the local interest rates of emerging market countries tend to be more erratic than changes in interest rates of the U.S. and developed market countries.
Derivatives The use of forward currency exchange contracts exposes the fund to additional volatility and losses in excess of the fund’s initial investment, the risk that anticipated currency movements will not be accurately predicted, and the risk that the other party to the transaction will not fulfill its contractual obligation. If currency values and exchange rates move in a direction not predicted by the investment adviser, the fund could be in a worse position than if it had not entered into such transactions. Any efforts at buying or selling currencies could result in significant losses for the fund and, if the fund takes a short position in a particular currency, it will lose money if the currency appreciates in value. Further, if the fund’s foreign currency transactions are intended to hedge the currency risk associated with investing in foreign securities and minimize the risk of loss that would result from a decline in the value of the hedged currency, these transactions also may limit any potential gain that might result should the value of such currency increase. Recent regulations have changed the requirements related to the use of certain derivatives. Some of these new regulations have limited the availability of certain derivatives and made their use by funds more costly. It is expected that additional changes to the regulatory framework will occur, but the extent and impact of additional new regulations are not certain at this time.
Nondiversification Because the fund is nondiversified and thus can invest more of its assets in a smaller number of issuers, it is more exposed to the risks associated with an individual issuer than a fund that invests more broadly across many issuers. For example, poor performance by a single large holding of the fund would adversely affect the fund’s performance more than if the fund were invested in a larger number of issuers.
Liquidity The fund may not be able to meet requests to redeem shares issued by the fund without significant dilution of the remaining shareholders’ interest in the fund. In addition, the fund may not be able to sell a holding in a timely manner at a desired price. Sectors of the bond market can experience sudden downturns in trading activity. During periods of reduced market liquidity, the spread between the price at which a security can be bought and the price at which it can be sold can widen, and the fund may not be able to sell a holding readily at a price that reflects what the fund believes it should be worth. Securities with lower overall liquidity can also become more difficult to value. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional broker-dealers to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where selling activity from fixed income investors may be higher than normal, potentially causing increased supply in the market.
T. ROWE PRICE | 16 |
Active management The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform other funds with a similar benchmark or similar investment program if the fund’s investment selections or overall strategies fail to produce the intended results.
Additional Strategies and Risks
In addition to the principal investment strategies and principal risks previously described, the fund may employ other, non-principal investment strategies and may be subject to other risks, which are described in the following paragraphs.
The fund may also use futures and swaps, to manage interest rate exposure, adjust portfolio duration, or as a tool to help manage cash flows into and out of the fund. The fund may also use credit default swaps in an effort to manage overall credit quality or to protect the value of certain portfolio holdings. Currency hedging into the U.S. dollar is permitted but is not required. The fund may also take a short position in a currency, which means that the fund could sell a currency in excess of its assets denominated in that currency (or the fund could sell a currency without owning any assets denominated in the currency). In addition, the fund may take long or short positions in particular countries or bond markets. A short position allows the fund to sell interest rate futures with respect to bonds of a particular market and have the value of the futures contract exceed the value of the bonds held by the fund (or the fund could sell futures with respect to a particular bond market without owning any bonds in that market).
If the fund takes a short position in a particular currency or bond market, it will lose money if the currency or bond market appreciates in value. Any efforts at buying or selling currencies could result in significant losses for the fund. Further, if the fund’s foreign currency transactions are intended to hedge the currency risk associated with investing in foreign securities and minimize the risk of loss that would result from a decline in the value of the hedged currency, these transactions also may limit any potential gain that might result should the value of such currency increase.
Derivatives Derivatives typically involve risks different from, and possibly greater than, the risks associated with investing directly in the assets on which the derivative is based. Certain derivatives can be highly volatile, lack liquidity, and be difficult to value. Changes in the value of a derivative may not properly correlate with changes in the value of the underlying asset, reference rate, or index. The fund could be exposed to significant losses if it is unable to close a derivative position due to the lack of a liquid trading market. Derivatives involve the risk that a counterparty to the derivatives agreement will fail to make required payments or comply with the terms of the agreement. There is also the possibility that limitations or trading restrictions may be imposed by an exchange or government regulation, which could adversely impact the value and liquidity of a derivatives contract subject to such regulation. Recent regulations have changed the requirements related to the use of certain derivatives. Some of these new regulations have limited the availability of certain derivatives and made their use by funds more costly. It is expected that additional changes to the regulatory framework will occur, but the extent and impact of additional new regulations are not certain at this time.
MORE ABOUT THE FUND | 17 |
Cybersecurity breaches The fund may be subject to operational and information security risks resulting from breaches in cybersecurity. Cybersecurity breaches may involve deliberate attacks and unauthorized access to the digital information systems (for example, through “hacking” or malicious software coding) used by the fund or its third-party service providers but may also result from outside attacks such as denial-of-service attacks. These breaches may, among other things, result in financial losses to the fund and its shareholders, cause the fund to lose proprietary information, disrupt business operations, or result in the unauthorized release of confidential information. Further, cybersecurity breaches involving the fund’s third-party service providers, trading counterparties, or issuers in which the fund invests could subject the fund to many of the same risks associated with direct breaches.
This section provides a more detailed description of the various types of portfolio holdings and investment practices that may be used by the fund to execute its overall investment program. Some of these holdings and investment practices are considered to be principal investment strategies of the fund and have already been described earlier in this prospectus while others are considered non-principal. Any of the following holdings and investment practices that were not already described in Section 1 of this prospectus are considered non-principal investment practices, but they may be used by the fund from time to time to help achieve its investment objective(s). The fund’s investments may be subject to further restrictions and risks described in the Statement of Additional Information. Shareholders will receive at least 60 days’ prior notice of a change in the fund’s policy requiring it to normally invest at least 80% of its net assets (including any borrowings for investment purposes) in debt securities of emerging market governments or companies located in emerging market countries.
The fund’s holdings in certain kinds of investments cannot exceed maximum percentages as set forth in this prospectus and the Statement of Additional Information. For instance, there are limitations regarding the fund’s investments in certain types of instruments. While these restrictions provide a useful level of detail about the fund’s investments, investors should not view them as an accurate gauge of the potential risk of such investments. For example, in a given period, a 5% investment in derivatives could have a significantly greater impact on the fund’s share price than its weighting in the portfolio. The net effect of a particular investment depends on its volatility and the size of its overall return in relation to the performance of all of the fund’s investments.
Certain investment restrictions, such as a required minimum or maximum investment in a particular type of security, are measured at the time the fund purchases a security. The status, market value, credit quality, or other characteristics of the fund’s securities may change after they are purchased, and this may cause the amount of the fund’s assets invested in such securities to exceed the stated maximum restriction or fall below the stated minimum restriction. If any of these changes occur, it would not be considered a violation of the
T. ROWE PRICE | 18 |
investment restriction and will not require the sale of an investment if it was proper at the time the investment was made (this exception does not apply to the fund’s borrowing policy). However, certain changes will require holdings to be sold or purchased by the fund during the time it is above or below the stated percentage restriction in order for the fund to be in compliance with applicable restrictions.
For purposes of determining whether a particular country is considered a developed market or an emerging market, the fund considers a country to be an emerging market if it is either included in an emerging market bond index published by JP Morgan or not included in the International Monetary Fund’s listing of advanced economies. For purposes of determining whether an issuer is an emerging markets issuer, the fund uses the country assigned to a security by Bloomberg or another unaffiliated third-party data provider. The data providers use various criteria to determine the country to which a security is economically tied. Examples include the following: (1) the country under which the issuer is organized; (2) the location of the issuer’s principal place of business or principal office; (3) where the issuer’s securities are listed or traded principally on an exchange or over-the-counter market; and (4) where the issuer conducts the predominant part of its business activities or derives a significant portion (e.g., at least 50%) of its revenues or profits.
Changes in the fund’s holdings, the fund’s performance, and the contribution of various investments to the fund’s performance are discussed in the shareholder reports.
Portfolio managers have considerable discretion in choosing investment strategies and selecting securities they believe will help achieve the fund’s objective.
Types of Portfolio Securities
In seeking to meet its investment objective(s), the fund may invest in any type of security or instrument (including certain potentially high-risk derivatives described in this section) whose investment characteristics are consistent with its investment program. The following pages describe various types of the fund’s holdings and investment management practices, some of which are also described as part of the fund’s principal investment strategies.
Debt Instruments
The fund’s investments may be in fixed-rate and floating rate debt instruments and may include, but are not limited to: (1) debt obligations issued or guaranteed by: (a) a foreign sovereign government or one of its agencies, authorities, instrumentalities, or political subdivisions, including a foreign state, province, or municipality, and (b) supranational organizations such as the World Bank, Asian Development Bank, European Investment Bank, and European Economic Community; (2) debt obligations: (a) of foreign banks and bank holding companies, and (b) of domestic banks and corporations issued in non-U.S. dollar denominations; and (3) foreign corporate debt instruments, asset-backed securities, and commercial paper. Such securities may take a variety of forms including those issued in the local currency of an issuer, U.S. dollar-denominated bonds, Eurobonds, and Euro-denominated bonds. The fund may from time to time purchase securities on a when-issued basis, enter into repurchase agreements, and purchase bonds convertible into equities.
MORE ABOUT THE FUND | 19 |
The fund generally will not invest more than 5% of its assets in any individual corporate issuer, provided that (1) the fund may place assets in bank deposits or other short-term bank instruments with a maturity of up to 30 days provided that (a) the bank has a short-term credit rating of A1+ (or, if unrated, an equivalent rating as determined by the adviser) and (b) the fund will not maintain more than 10% of its total assets with any single bank; and (2) the fund may maintain more than 5% of its total assets, including cash and currencies, in custodial accounts or deposits of the fund’s custodian or sub-custodians.
The fund may also invest in: such dollar-denominated fixed-income securities as (1) debt obligations issued or guaranteed by the U.S. government or its agencies or instrumentalities; (2) domestic corporate debt instruments; (3) domestic commercial paper, including commercial paper indexed to certain specific foreign currency exchange rates; (4) debt obligations of domestic banks and bank holding companies; and (5) collateralized mortgage obligations or asset-backed bonds.
Concentration of Investments From time to time, the fund may invest more than 25% of its total assets in the securities of foreign governmental and corporate entities located in the same country. However, the fund will not invest more than 25% of its total assets in the securities of any single foreign governmental issuer or in two or more such issuers subject to a common, explicit guarantee.
Below Investment-Grade Bonds The price and yield of noninvestment-grade (high yield) bonds, including noninvestment-grade emerging market bonds, can be expected to fluctuate more than the price and yield of higher-quality bonds. Investment-grade bonds are those rated from the highest quality (AAA or equivalent) to medium quality (BBB or equivalent), and below investment-grade bonds are those rated BB (or equivalent) and lower. Below investment-grade bonds are considered speculative with respect to the issuer’s continuing ability to meet principal and interest payments since their issuers are more vulnerable to financial setbacks and recession than more creditworthy issuers. Even BBB rated bonds may have speculative elements as well. The values of below investment-grade bonds often fluctuate more in response to political, regulatory, or economic developments than higher quality bonds. Successful investment in lower-medium and low-quality bonds involves greater investment risk and is highly dependent on careful credit analysis.
While the fund intends to invest primarily in debt instruments, it may invest in convertible bonds or equity securities. While some countries or companies may be regarded as favorable investments, pure bond opportunities may be unattractive or limited due to insufficient supply, or legal or technical restrictions. In such cases, the fund may consider equity securities or convertible bonds to gain exposure to such markets.
Common and Preferred Stocks
Stocks represent shares of ownership in a company. Generally, preferred stocks have a specified dividend rate and rank after bonds and before common stocks in their claim on income for dividend payments and on assets should the company be liquidated. After other claims are satisfied, common stockholders participate in company profits on a pro-rata basis and profits
T. ROWE PRICE | 20 |
may be paid out in dividends or reinvested in the company to help it grow. Increases and decreases in earnings are usually reflected in a company’s stock price, so common stocks generally have the greatest appreciation and depreciation potential of all corporate securities. Unlike common stock, preferred stock does not ordinarily carry voting rights. While most preferred stocks pay a dividend, the fund may decide to purchase preferred stock where the issuer has suspended, or is in danger of suspending, payment of its dividend.
Convertible Securities and Warrants
The fund may invest in debt instruments or preferred equity securities that are convertible into, or exchangeable for, equity securities at specified times in the future and according to a certain exchange ratio. Convertible bonds are typically callable by the issuer, which could in effect force conversion before the holder would otherwise choose. Traditionally, convertible securities have paid dividends or interest at rates higher than common stocks but lower than nonconvertible securities. They generally participate in the appreciation or depreciation of the underlying stock into which they are convertible, but to a lesser degree than common stock. Some convertible securities combine higher or lower current income with options and other features. Warrants are options to buy, directly from the issuer, a stated number of shares of common stock at a specified price anytime during the life of the warrants (generally, two or more years). Warrants have no voting rights, pay no dividends, and can be highly volatile. In some cases, the redemption value of a warrant could be zero.
Bank Loans
The fund may make investments in bank loans through the purchase or execution of a privately negotiated loan or note representing the equivalent of a loan, as well as through loan assignments and participations. Large loans to corporations or governments, including governments of less developed countries, may be shared or syndicated among several lenders, usually banks. The fund could participate in such syndicates or could buy part of a loan, becoming a direct lender. These loans may often be obligations of companies or governments in financial distress or in default. These investments involve special types of risk, including those of being a lender, reduced liquidity, increased credit risk, and volatility.
Bank loans may be acquired directly through an agent acting on behalf of the lenders participating in the loan, as an assignment from another lender who holds a direct interest in the loan, or as a participation interest in another lender’s portion of the loan. An assignment typically results in the purchaser succeeding to all rights and obligations under the loan agreement between the assigning lender and the borrower. However, assignments may be arranged through private negotiations, and the rights and obligations acquired by the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender.
A participation interest is a fractional interest in a loan, issued by a lender or other financial institution. To the extent the fund invests in loans through participation interests, it will be more difficult for it to enforce its rights against the borrower because it will have established a direct contractual relationship with the seller of the participation interest but not with the borrower. When the fund invests in a loan by participation, it must rely on another party not
MORE ABOUT THE FUND | 21 |
only for the enforcement of its rights against the borrower, but also for the receipt and processing of payments due under the loan. Investing in a participation interest limits the fund’s ability to file a claim directly as a creditor in the event of the borrower’s bankruptcy.
Derivatives and Leverage
A derivative is a financial instrument whose value is derived from an underlying security, such as a stock or bond, or from a market benchmark, such as an interest rate index. Many types of investments representing a wide range of risks and potential rewards may be considered derivatives, including conventional instruments such as futures and options, as well as other potentially more complex investments such as swaps and structured notes. The use of derivatives can involve leverage. Leverage has the effect of magnifying returns, positively or negatively. The effect on returns will depend on the extent to which an investment is leveraged. For example, an investment of $1, leveraged at 2 to 1, would have the effect of an investment of $2. Leverage ratios can be higher or lower with a corresponding effect on returns. The fund may use derivatives in a variety of situations, including for the purposes of accomplishing any or all of the following: to hedge against a decline in principal value, to increase yield, to gain exposure to eligible asset classes or securities with greater efficiency and at a lower cost than is possible through a direct investment, or to adjust portfolio duration or credit risk exposures. In accordance with the Investment Company Act of 1940 and various SEC positions, the fund must “set aside” (often referred to as “asset segregation”) liquid assets, or engage in other measures, to “cover” open positions with respect to certain kinds of derivative instruments.
Derivatives that may be used include the following instruments, as well as others that combine the risk characteristics and features of futures, options, and swaps:
Futures and Options Futures are often used to establish exposures or manage or hedge risk because they enable the investor to buy or sell an asset in the future at an agreed-upon price. Options may be used to generate additional income, to enhance returns, or as a defensive technique to protect against anticipated declines in the value of an asset. Call options give the investor the right to purchase (when the investor purchases the option), or the obligation to sell (when the investor “writes” or sells the option), an asset at a predetermined price in the future. Put options give the purchaser of the option the right to sell, or the seller (or “writer”) of the option the obligation to buy, an asset at a predetermined price in the future. Futures and options contracts may be bought or sold for any number of reasons, including to manage exposure to changes in interest rates, bond prices, foreign currencies, and credit quality; as an efficient means of increasing or decreasing the fund’s exposure to certain markets; in an effort to enhance income; to improve risk-adjusted returns; to protect the value of portfolio securities; and to serve as a cash management tool. Call or put options may be purchased or sold on securities, futures, financial indexes, and foreign currencies. The fund may choose to continue a futures contract by “rolling over” an expiring futures contract into an identical contract with a later maturity date. This could increase the fund’s transaction costs and portfolio turnover rate.
Futures and options contracts may not always be successful investments or hedges; their prices can be highly volatile; using them could lower the fund’s total return; the potential loss from
T. ROWE PRICE | 22 |
the use of futures can exceed the fund’s initial investment in such contracts; and the losses from certain options written by the fund could be unlimited.
Swaps The fund may invest in interest rate, index, total return, credit default, and other types of swap agreements, as well as options on swaps, commonly referred to as “swaptions,” and interest rate swap futures, which are instruments that provide a way to obtain swap exposure and the benefits of futures in one contract. All of these agreements are considered derivatives and, in certain cases, high-risk derivatives. Interest rate, index, and total return swaps are two-party contracts under which the fund and a counterparty, such as a broker or dealer, agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or indexes. Credit default swaps are agreements where one party (the protection buyer) will make periodic payments to another party (the protection seller) in exchange for protection against specified credit events, such as defaults and bankruptcies related to an issuer or underlying credit instrument. Swap futures are futures contracts on interest rate swaps that enable purchasers to settle in cash at a future date at the price determined by a specific benchmark rate at the end of a fixed period. Swaps, swaptions, and swap futures can be used for a variety of purposes, including to manage the fund’s overall exposure to changes in interest or foreign currency exchange rates and credit quality; as an efficient means of adjusting the fund’s exposure to certain markets; in an effort to enhance income or total return or protect the value of portfolio securities; to serve as a cash management tool; and to adjust portfolio duration or credit risk exposure.
There are risks in the use of swaps and related instruments. Swaps could result in losses if interest or foreign currency exchange rates or credit quality changes are not correctly anticipated by the fund. Total return swaps could result in losses if the reference index, security, or investments do not perform as anticipated. Credit default swaps can increase the fund’s exposure to credit risk and could result in losses if evaluation of the creditworthiness of the counterparty, or of the company or government on which the credit default swap is based, is incorrect. The use of swaps, swaptions, and swap futures may not always be successful. Using them could lower the fund’s total return, their prices can be highly volatile, and the potential loss from the use of swaps can exceed the fund’s initial investment in such instruments. Also, the other party to a swap agreement could default on its obligations or refuse to cash out the fund’s investment at a reasonable price, which could turn an expected gain into a loss. Although there should be minimal counterparty risk associated with investments in interest rate swap futures, the fund could experience delays and/or losses due to the bankruptcy of a swap dealer through which the fund engaged in the transaction.
Currency Derivatives The fund may engage in foreign currency transactions either on a spot (cash) basis at the rate prevailing in the currency exchange market at the time or through forward currency exchange contracts, which are contracts between two counterparties to exchange one currency for another on a future date at a specified exchange rate. In addition to foreign currency forwards, futures, swaps, and options on foreign currencies may also be used to protect the fund’s foreign securities from adverse currency movements relative to the U.S. dollar, as well as to gain exposure to currencies and markets expected to increase or decrease in value relative to other currencies or securities.
MORE ABOUT THE FUND | 23 |
The fund may attempt to hedge its exposure to potentially unfavorable currency changes. Forward currency contracts can be used to adjust the foreign exchange exposure of the fund with a view to protecting the portfolio from adverse currency movements, based on the investment adviser’s outlook. However, forward currency contracts can also be used in an effort to benefit from a currency believed to be appreciating in value versus other currencies. The fund may invest in foreign currencies directly without holding any foreign securities denominated in those currencies.
Forward currency contracts involve special risks, including, but not limited to, the potential for significant volatility in currency markets, and the risk that in certain markets, particularly emerging markets, it is not possible to engage in effective foreign currency hedging. In addition, such transactions involve the risk that currency movements will not occur as anticipated by the investment adviser, which could reduce the fund’s total return.
The fund may enter into foreign currency transactions under a number of circumstances, including the following:
Lock In When the fund desires to lock in the U.S. dollar price on the purchase or sale of a security denominated in a foreign currency.
Cross Hedge If a particular currency is expected to decrease in value relative to another currency, the fund may sell the currency expected to decrease and purchase a currency that is expected to increase against the currency sold. The fund’s cross hedging transactions may involve currencies in which the fund’s holdings are denominated. However, the fund is not required to own securities in the particular currency being purchased or sold.
Direct Hedge If the fund seeks to eliminate substantially all of the risk of owning a particular currency or believes the portfolio could benefit from price appreciation in a given country’s bonds but did not want to hold the currency, it could employ a direct hedge back into the U.S. dollar. In either case, the fund would enter into a forward contract to sell the currency in which a portfolio security is denominated and purchase U.S. dollars at an exchange rate established at the time it initiated the contract. The cost of the direct hedge transaction may offset most, if not all, of the yield advantage offered by the foreign security, but the fund would hope to benefit from an increase (if any) in the value of the bond.
Proxy Hedge In certain circumstances, a different currency may be substituted for the currency in which the investment is denominated, as part of a strategy known as proxy hedging. In this case, the fund, having purchased a security, will sell a currency whose value is believed to be closely linked to the currency in which the security is denominated. This type of hedging entails greater risk than a direct hedge because it is dependent on a stable relationship between the two currencies paired as proxies, and that relationship may not always be maintained. The fund may also use these instruments to create a synthetic bond, which is issued in one currency with the currency component transformed into another currency.
Costs of Hedging When the fund purchases a foreign bond with a higher interest rate than is available on U.S. bonds of a similar maturity, the additional yield on the foreign bond could be substantially lessened if the fund were to enter into a direct hedge by selling the foreign
T. ROWE PRICE | 24 |
currency and purchasing the U.S. dollar. This is what is known as the “cost” of hedging. A proxy hedge, which is less costly than a direct hedge, may attempt to reduce this cost through an indirect hedge back to the U.S. dollar.
It is important to note that hedging costs are treated as capital transactions and are not, therefore, deducted from the fund’s dividend distribution and are not reflected in its yield. Instead, such costs will, over time, be reflected in the fund’s net asset value per share and total return. Hedging may result in the application of the mark-to-market and straddle provisions of the Internal Revenue Code. These provisions could result in an increase (or decrease) in the amount of taxable dividends paid by the fund and could affect whether dividends paid by the fund are classified as capital gains or ordinary income.
When-Issued Securities and Forwards
The fund may purchase securities on a when-issued or delayed delivery basis or may purchase or sell securities on a forward commitment basis. The price of these securities is fixed at the time of the commitment to buy, but delivery and payment take place after the customary settlement period for that type of security (often a month or more later). During the interim period, the price and yield of the securities can fluctuate, and typically no interest accrues to the purchaser. At the time of delivery, the market value of the securities may be more or less than the purchase or sale price. To the extent the fund remains fully or almost fully invested (in securities with a remaining maturity of more than one year) at the same time it purchases these securities, there will be greater fluctuations in the fund’s net asset value than if the fund did not purchase them.
Investments in Other Investment Companies
The fund may invest in other investment companies, including open-end funds, closed-end funds, and exchange-traded funds.
The fund may purchase the securities of another investment company to temporarily gain exposure to a portion of the market while awaiting the purchase of securities or as an efficient means of gaining exposure to a particular asset class. The fund might also purchase shares of another investment company, including shares of other T. Rowe Price Funds, to gain exposure to the securities in the investment company’s portfolio at times when the fund may not be able to buy those securities directly, or as a means of gaining efficient and cost-effective exposure to certain asset classes. Any investment in another investment company would be consistent with the fund’s objective and investment program.
The risks of owning another investment company are generally similar to the risks of investing directly in the securities in which that investment company invests. However, an investment company may not achieve its investment objective or execute its investment strategy effectively, which may adversely affect the fund’s performance. In addition, because closed-end funds and exchange-traded funds trade on a secondary market, their shares may trade at a premium or discount to the actual net asset value of their portfolio securities and their shares may have greater volatility if an active trading market does not exist.
MORE ABOUT THE FUND | 25 |
As a shareholder of another investment company, the fund must pay its pro-rata share of that investment company’s fees and expenses. The fund’s investments in non-T. Rowe Price investment companies are subject to the limits that apply to investments in other funds under the Investment Company Act of 1940 or under any applicable exemptive order.
Investments in other investment companies could allow the fund to obtain the benefits of a more diversified portfolio than might otherwise be available through direct investments in a particular asset class, and will subject the fund to the risks associated with the particular asset class or asset classes in which an underlying fund invests. Examples of asset classes in which other mutual funds (including T. Rowe Price Funds) focus their investments include high yield bonds, inflation-linked securities, floating rate loans, international bonds, emerging market bonds, stocks of companies involved in activities related to real assets, stocks of companies that focus on a particular industry or sector, and emerging market stocks. If the fund invests in another T. Rowe Price Fund, the management fee paid by the fund will be reduced to ensure that the fund does not incur duplicate management fees as a result of its investment.
Illiquid Investments
Some of the fund’s holdings may be considered illiquid because they are subject to legal or contractual restrictions on resale or because they cannot reasonably be expected to be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. The determination of liquidity involves a variety of factors. Illiquid investments may include private placements that are sold directly to a small number of investors, usually institutions. Unlike public offerings, such securities are not registered with the SEC. Although certain of these securities may be readily sold (for example, pursuant to Rule 144A under the Securities Act of 1933) and therefore deemed liquid, others may have resale restrictions and be considered illiquid. The sale of illiquid investments may involve substantial delays and additional costs, and the fund may only be able to sell such investments at prices substantially lower than what it believes they are worth. In addition, the fund’s investments in illiquid investments may reduce the returns of the fund because it may be unable to sell such investments at an advantageous time, which could prevent the fund from taking advantage of other investment opportunities.
Types of Investment Management Practices
Reserve Position
A certain portion of the fund’s assets may be held in reserves. The fund’s reserve positions will primarily consist of: (1) shares of a T. Rowe Price internal money market fund or short-term bond fund (which do not charge any management fees); (2) short-term, high-quality U.S. and non-U.S. dollar-denominated money market securities, including repurchase agreements; and (3) U.S. dollar or non-U.S. dollar currencies. In order to respond to adverse market, economic, political, or other conditions, the fund may assume a temporary defensive position that is inconsistent with its principal investment objective(s) and/or strategies and may invest, without limitation, in reserves. If the fund has significant holdings in reserves, it could compromise its ability to achieve its objective(s). The reserve position provides flexibility in meeting redemptions, paying expenses, and managing cash flows into the fund and can serve as
T. ROWE PRICE | 26 |
a short-term defense during periods of unusual market volatility. Non-U.S. dollar reserves are subject to currency risk.
Borrowing Money and Transferring Assets
The fund may borrow from banks, other persons, and other T. Rowe Price Funds for temporary or emergency purposes, to facilitate redemption requests, or for other purposes consistent with the fund’s policies as set forth in this prospectus and the Statement of Additional Information. Such borrowings may be collateralized with the fund’s assets, subject to certain restrictions.
Borrowings may not exceed 331/3% of the fund’s total assets. This limitation includes any borrowings for temporary or emergency purposes, applies at the time of the transaction, and continues to the extent required by the Investment Company Act of 1940.
Meeting Redemption Requests
We expect that the fund will hold cash or cash equivalents to meet redemption requests. The fund may also use the proceeds from the sale of portfolio securities to meet redemption requests if consistent with the management of the fund. These redemption methods will be used regularly and may also be used in deteriorating or stressed market conditions. The fund reserves the right to pay redemption proceeds with securities from the fund’s portfolio rather than in cash (redemptions in-kind), as described under “Large Redemptions.” Redemptions in-kind are typically used to meet redemption requests that represent a large percentage of the fund’s net assets in order to minimize the effect of large redemptions on the fund and its remaining shareholders. In general, any redemptions in-kind will represent a pro-rata distribution of the fund’s securities, subject to certain limited exceptions. Redemptions in-kind may be used regularly in circumstances as described above and may also be used in stressed market conditions.
The fund, along with other T. Rowe Price Funds, is a party to an interfund lending exemptive order received from the SEC that permits the T. Rowe Price Funds to borrow money from and/or lend money to other T. Rowe Price Funds to help the funds meet short-term redemptions and liquidity needs. In certain circumstances, the T. Rowe Price funds may also meet redemption requests through an overdraft of the fund’s account with its custodian.
During periods of deteriorating or stressed market conditions, when an increased portion of the fund’s portfolio may be composed of holdings with reduced liquidity or lengthy settlement periods, or during extraordinary or emergency circumstances, the fund may be more likely to pay redemption proceeds with cash obtained through interfund lending or short-term borrowing arrangements (if available), or by redeeming a large redemption request in-kind.
Lending of Portfolio Securities
The fund may lend its securities to broker-dealers, other institutions, or other persons to earn additional income. Risks include the potential insolvency of the broker-dealer or other borrower that could result in delays in recovering securities and capital losses. Additionally, losses could result from the reinvestment of collateral received on loaned securities in
MORE ABOUT THE FUND | 27 |
investments that decline in value, default, or do not perform as well as expected. Cash collateral from securities lending is invested in the T. Rowe Price Short-Term Fund.
Credit Quality Considerations
The credit quality of many fund holdings is evaluated by rating agencies such as Moody’s Investors Service, Inc. (Moody’s), S&P Global Ratings (S&P), and Fitch Ratings, Inc. (Fitch). Credit quality refers to the issuer’s ability and willingness to meet all required interest and principal payments. The highest ratings are assigned to issuers perceived to have the lowest credit risks. T. Rowe Price credit research analysts also evaluate the fund’s holdings, including those rated by outside agencies. Other things being equal, bonds and other debt obligations with lower ratings typically have higher yields due to greater credit risk.
Credit quality ratings are not guarantees. They are estimates of an issuer’s creditworthiness and ability to make interest and principal payments as they come due. Ratings can change at any time due to actual or perceived changes in an issuer’s creditworthiness or financial fundamentals.
Bonds rated Baa and above by Moody’s, and BBB and above by S&P and Fitch, are considered to be “investment grade.” Bonds that are rated below these categories are considered to have greater credit risk and are referred to as “below investment grade” or “noninvestment grade.” Bonds rated below investment grade range from speculative to highly speculative with respect to the issuer’s ability or willingness to pay interest and repay principal. The following table summarizes the rating scales and associated credit risk assigned by the major rating agencies. Within these categories, the rating may be modified with a symbol (such as 1, 2, and 3, or a plus or minus) to indicate whether the bond is ranked in the higher or lower end of its rating category. T. Rowe Price generally relies upon its own credit analysis when selecting investments.
T. ROWE PRICE | 28 |
Ratings of Debt Instruments
Moody’s | S&P | Fitch | Description of Category |
Aaa | AAA | AAA | Lowest level of credit risk with extremely strong capacity to meet financial commitments |
Aa | AA | AA | Very low credit risk with very strong capacity to meet financial commitments |
A | A | A | Low credit risk with strong capacity to meet financial commitments |
Baa | BBB | BBB | Moderate credit risk with adequate capacity to meet financial commitments |
Ba | BB | BB | Subject to substantial credit risk, and adverse conditions could lead to inadequate capacity to meet financial commitments |
B | B | B | Subject to high credit risk, and adverse conditions will likely impair capacity to meet financial commitments |
Caa | CCC | CCC | Subject to very high credit risk and dependent upon favorable conditions to meet financial commitments |
Ca | CC | CC | Highly vulnerable to nonpayment and likely in, or very near, default with some prospect of recovery of principal and interest |
C | C | C | Typically in default with little prospect for recovery of principal and interest |
— | D | D | In default |
The Statement of Additional Information contains more detailed information about the fund and its investments, operations, and expenses.
Portfolio Turnover
Turnover is an indication of frequency of trading. Each time the fund purchases or sells a security, it incurs a cost. This cost is reflected in the fund’s net asset value but not in its operating expenses. The higher the turnover rate, the higher the transaction costs and the greater the impact on the fund’s total return. Higher turnover can also increase the possibility of taxable capital gain distributions. The fund’s portfolio turnover rates are shown in the Financial Highlights table.
The Financial Highlights table, which provides information about the fund’s financial history, is based on a single share outstanding throughout the periods shown. The table is part of the fund’s financial statements, which are included in its annual report and are incorporated by reference into the Statement of Additional Information (available upon request). The financial
MORE ABOUT THE FUND | 29 |
statements in the annual report were audited by the fund’s independent registered public accounting firm, PricewaterhouseCoopers LLP.
FINANCIAL HIGHLIGHTS | For a share outstanding throughout each period |
|
| Year |
| 12/31/18 |
| 12/31/17 |
| 12/31/16 |
| 12/31/15 | ||||||||||||||
NET ASSET VALUE |
|
|
|
|
|
| ||||||||||||||||||
Beginning of period | $ | 8.04 | $ | 9.04 | $ | 8.87 | $ | 8.27 | $ | 8.65 | ||||||||||||||
| ||||||||||||||||||||||||
Investment activities | 0.46 | 0.42 | 0.60 | 0.63 | 0.50 | |||||||||||||||||||
Net realized
and unrealized | 0.54 | (0.92 | ) | 0.21 | 0.56 | (0.37 | ) | |||||||||||||||||
Total from investment activities | 1.00 | (0.50 | ) | 0.81 | 1.19 | 0.13 | ||||||||||||||||||
| ||||||||||||||||||||||||
Distributions | ||||||||||||||||||||||||
Net investment income | (0.45 | ) | (0.45 | ) | (0.57 | ) | (0.49 | ) | (0.50 | ) | ||||||||||||||
Net realized gain | – | (0.05 | ) | (0.07 | ) | – | – | |||||||||||||||||
Tax return of capital | (0.01 | ) | – | – | (0.10 | ) | (0.01 | ) | ||||||||||||||||
Total distributions | (0.46 | ) | (0.50 | ) | (0.64 | ) | (0.59 | ) | (0.51 | ) | ||||||||||||||
| ||||||||||||||||||||||||
NET ASSET VALUE | ||||||||||||||||||||||||
End of period | $ | 8.58 | $ | 8.04 | $ | 9.04 | $ | 8.87 | $ | 8.27 | ||||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||||
| ||||||||||||||||||||||||
Total return(2) (3) | 12.68 | % | (5.61 | )% | 9.33 | % | 14.69 | % | 1.52 | % | ||||||||||||||
| ||||||||||||||||||||||||
Ratios to average net assets:(2) | ||||||||||||||||||||||||
Gross expenses before | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | ||||||||||||||
Net expenses after | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | ||||||||||||||
Net investment income | 5.45 | % | 4.93 | % | 6.64 | % | 7.26 | % | 5.79 | % | ||||||||||||||
Portfolio turnover rate | 44.7 | % | 41.1 | % | 71.2 | % | 83.4 | % | 72.2 | % | ||||||||||||||
Net
assets, end of period (in | $ | 485,686 | $ | 425,745 | $ | 366,423 | $ | 285,880 | $ | 311,657 |
(1) Per share amounts calculated using average shares outstanding method.
(2) Includes the impact of expense-related arrangements with Price Associates.
(3) Total return reflects the rate that an investor would have earned on an investment in the fund during each period, assuming reinvestment of all distributions, and payment of no redemption or account fees, if applicable.
T. ROWE PRICE | 30 |
Most T. Rowe Price Funds disclose their calendar quarter-end portfolio holdings on troweprice.com 15 calendar days after each quarter. At the discretion of the investment adviser, these holdings reports may exclude the issuer name and other information relating to a holding in order to protect the fund’s interests and prevent harm to the fund or its shareholders. In addition, most T. Rowe Price Funds disclose their 10 largest holdings, along with the percentage of the relevant fund’s total assets that each of the 10 holdings represents, on troweprice.com on the seventh business day after each month-end. These holdings are listed in numerical order based on such percentages of the fund’s assets. A description of T. Rowe Price’s policies and procedures with respect to the disclosure of portfolio information is available in the Statement of Additional Information.
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 3 | |
The following policies and procedures apply to the Institutional Funds within the T. Rowe Price Funds.
This section of the prospectus describes the policies and procedures that generally apply to investments in the T. Rowe Price Institutional Funds (except for the T. Rowe Price Institutional Cash Reserves Fund). The T. Rowe Price Institutional Funds may be purchased directly from T. Rowe Price or through a financial intermediary, such as a bank, broker, retirement plan recordkeeper, or financial advisor.
Most of the T. Rowe Price Institutional Funds are available only in a single share class (referred to as the “Institutional Class”). However, the Institutional High Yield Fund is also offered in a Z Class, and the Institutional Floating Rate Fund is also offered in an F Class and a Z Class. Each class of a fund’s shares represents an interest in the same fund with the same investment program and investment policies. While the Institutional Class may be held directly with T. Rowe Price or through a financial intermediary, the F Class is designed to be purchased only through financial advisors and certain financial intermediaries and has a different cost structure due to a shareholder servicing arrangement that applies only to that class. The Z Class is only available to funds advised by T. Rowe Price and other advisory clients of T. Rowe Price or its affiliates that are subject to a contractual fee for investment management services.
This section generally describes investing only in the T. Rowe Price Institutional Funds, other than the T. Rowe Price Institutional Cash Reserves Fund, which has unique policies relating to its operation as an institutional money market fund. This section does not describe the policies that apply to other T. Rowe Price Funds. Policies for other T. Rowe Price Funds are described in their respective prospectuses, and all types of funds and available share classes for the T. Rowe Price Funds are described more fully in the funds’ Statement of Additional Information.
Institutional Class
The Institutional Class may be purchased directly from T. Rowe Price or through a financial intermediary. The Institutional Class does not make any payments to financial intermediaries for distribution of the fund’s shares (commonly referred to as 12b-1 fee payments) and does not make any payments to financial intermediaries for administrative services they provide (commonly referred to as administrative fee payments). However, you may incur brokerage commissions and other charges when buying or selling Institutional Class shares.
T. ROWE PRICE | 32 |
The Institutional Class is designed to be sold only to institutional investors, which include, but are not limited to: corporations, endowments and foundations, charitable trusts, investment companies and other pooled vehicles, defined benefit and defined contribution retirement plans, broker-dealers, registered investment advisers, banks and bank trust programs, and Section 529 college savings plans. The Institutional Class generally requires a $1 million initial investment minimum, although the minimum may be waived for retirement plans, financial intermediaries maintaining omnibus accounts, and certain other accounts.
F Class
The F Class must be purchased through a financial intermediary. The F Class does not make any 12b-1 fee payments to financial intermediaries but may make administrative fee payments at an annual rate of up to 0.15% of the class’ average daily net assets.
The F Class is designed to be sold only through financial advisors and certain financial intermediaries, including brokers, banks, insurance companies, retirement plan recordkeepers, and other financial intermediaries. F Class shares are generally not available to financial intermediaries that would make the fund available to their customers through a mutual fund “supermarket” platform. There is a $2,500 minimum initial investment requirement, but the minimum is waived for certain types of accounts.
Z Class
The Z Class is only available to funds managed by T. Rowe Price and other advisory clients of T. Rowe Price or its affiliates that are subject to a contractual fee for investment management services. There is no minimum initial investment and no minimum for additional purchases. The Z Class does not impose sales charges and does not make any administrative fee payments or 12b-1 fee payments to financial intermediaries.
Administrative Fee Payments (F Class)
Certain financial intermediaries perform recordkeeping and administrative services for their clients that would otherwise be performed by the funds’ transfer agent. The F Class may make administrative fee payments to retirement plan recordkeepers, broker-dealers, and other financial intermediaries (at an annual rate of up to 0.15% of the class’ average daily net assets) for transfer agency, recordkeeping, and other administrative services that they provide on behalf of the funds. These administrative services may include maintaining account records for each customer; transmitting purchase and redemption orders; delivering shareholder confirmations, statements, and tax forms; and providing support to respond to customers’ questions regarding their accounts. These separate administrative fee payments are reflected in the “Other expenses” line that appears in the table titled “Fees and Expenses of the Fund” in Section 1 with respect to the fund’s F Class.
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 33 |
Some broker-dealers or other financial intermediaries that are eligible to purchase F Class shares of T. Rowe Price Institutional Funds may also be eligible to purchase the Institutional Class. The Institutional Class shares require a much higher initial investment but have lower expenses than F Class shares because the Institutional Class does not participate in the administrative fee payment program. The payment of the administrative fee by the F Class creates a potential conflict of interest by influencing the broker-dealer or other financial intermediary to purchase F Class shares instead of Institutional Class shares. If this happens, you will incur higher expenses than if your financial intermediary had purchased Institutional Class shares on your behalf (assuming your financial intermediary would qualify to purchase Institutional Class shares). You should ask your salesperson for more information regarding the eligibility of your financial intermediary to purchase Institutional Class shares.
Additional Payments to Financial Intermediaries
In addition to the administrative fee payments made by the F Class of the Institutional Floating Rate Fund T. Rowe Price or the fund’s distributor will, at their own expense, provide compensation to certain financial intermediaries that have sold shares of or provide shareholder or other services to the T. Rowe Price Funds, commonly referred to as revenue sharing. These payments may be in the form of asset-based, transaction-based, or flat payments. These payments are used to compensate third parties for distribution and shareholder servicing activities, including sub-accounting, sub-transfer agency, or other services. Some of these payments may include expense reimbursements and meeting and marketing support payments (out of T. Rowe Price’s or the fund’s distributor’s own resources and not as an expense of the funds) to financial intermediaries, such as broker-dealers, registered investment advisers, banks, insurance companies, and retirement plan recordkeepers, in connection with the sale, distribution, marketing, and/or servicing of the T. Rowe Price Funds. The Statement of Additional Information provides more information about these payment arrangements.
The receipt of, or the prospect of receiving, these payments and expense reimbursements from T. Rowe Price or the fund’s distributor may influence intermediaries, plan sponsors, and other third parties to offer or recommend T. Rowe Price Funds over other investment options for which an intermediary does not receive additional compensation (or receives lower levels of additional compensation). In addition, financial intermediaries that receive these payments and/or expense reimbursements may elevate the prominence of the T. Rowe Price Funds by, for example, placing the T. Rowe Price Funds on a list of preferred or recommended funds and/or provide preferential or enhanced opportunities to promote the T. Rowe Price Funds in various ways. Since these additional payments are not paid by a fund directly, these arrangements do not increase fund expenses and will not change the price that an investor pays for shares of the T. Rowe Price Funds or the amount that is invested in a T. Rowe Price Fund on behalf of an investor. You may ask your financial intermediary for more information about any payments they receive from T. Rowe Price or the fund’s distributor.
T. ROWE PRICE | 34 |
If you are opening an account through an employer-sponsored retirement plan or other financial intermediary, you should contact the retirement plan or financial intermediary for information regarding its policies on opening an account, including the policies relating to purchasing, exchanging, and redeeming shares, and the applicable initial and subsequent investment minimums.
Tax Identification Number
Institutional investors must provide T. Rowe Price with a valid taxpayer identification number (and valid Social Security numbers for individuals opening the account on behalf of the institution) on a signed new account form or Form W-9. Otherwise, federal law requires the funds to withhold a percentage of dividends, capital gain distributions, and redemptions and may subject the investor to an Internal Revenue Service fine. If this information is not received within 60 days of the account being established, the account may be redeemed at the fund’s then-current net asset value. Financial intermediaries opening an account in a fund must also enter into a separate agreement with the fund or its agent.
Important Information Required to Open a New Account
Pursuant to federal law, all financial institutions must obtain, verify, and record information that identifies each person or entity that opens an account. This information is needed not only for the account owner and any other person who opens the account, but also for any person who has authority to act on behalf of the account. When you open an account for an entity, you will be required to provide the entity’s name, U.S. street address (post office boxes are not acceptable), and taxpayer identification number, as well as your name, U.S. street address (post office boxes are not acceptable), date of birth, and Social Security number as the person opening the account on behalf of the entity. Corporate and other institutional accounts require documents showing the existence of the entity (such as articles of incorporation or partnership agreements) to open an account. Certain other fiduciary accounts (such as trusts or power of attorney arrangements) require documentation, which may include an original or certified copy of the trust agreement or power of attorney, to open an account.
T. Rowe Price will use this information to verify the identity of the entity and person opening the account. An account cannot be opened until all of this information is received. If the identity of the entity or person opening the account on behalf of the entity cannot be verified, T. Rowe Price is authorized to take any action permitted by law. (See “Rights Reserved by the Funds” later in this section.)
Call Financial Institution Services at 1-800-638-8790 for more information on these requirements.
The Institutional Funds are generally available only to institutional investors with a U.S. address. T. Rowe Price will generally not authorize the transfer of ownership of an account in an Institutional Fund for an institutional investor to an account for a noninstitutional investor.
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 35 |
Shares held directly with T. Rowe Price by noninstitutional investors are subject to involuntary redemption at any time, which could result in a taxable gain to the investor.
Opening an Account
Call Financial Institution Services at 1-800-638-8790 for an account number and wire transfer instructions. All initial purchases are typically made by bank wire, but checks or other forms of payment may be accepted in certain cases. In order to obtain an account number, you must supply the name, taxpayer identification number, and business street address for the account. Complete a new account form and mail it, along with proper documentation identifying your firm and any other necessary documentation, to one of the following addresses:
via U.S. mail T. Rowe
Price Financial Institution Services | via private carriers/overnight services T. Rowe
Price Financial Institution Services |
Note: Although the purchase will be made, services may not be established and an Internal Revenue Service penalty withholding may occur until we receive a signed new account form.
How and When Shares Are Priced
The trade date for your transaction request depends on the day and time that T. Rowe Price receives your request and will normally be executed using the next share price calculated after your order is received in correct form by T. Rowe Price or its agent (or by your financial intermediary if it has the authority to accept transaction orders on behalf of the fund). The share price, also called the net asset value, for each share class of a fund is calculated as of the close of trading on the New York Stock Exchange (NYSE), which is normally 4 p.m. ET, on each day that the NYSE is open for business. Net asset values are not calculated for the funds on days when the NYSE is scheduled to be closed for trading (for example, weekends and certain U.S. national holidays). If the NYSE is unexpectedly closed due to weather or other extenuating circumstances on a day it would typically be open for business, or if the NYSE has an unscheduled early closing on a day it has opened for business, the funds reserve the right to treat such day as a business day and accept purchase and redemption orders and calculate their share price as of the normally scheduled close of regular trading on the NYSE for that day.
To calculate the net asset value, a fund’s assets are valued and totaled, liabilities are subtracted, and each class’ proportionate share of the balance, called net assets, is divided by the number of shares outstanding of that class. Market values are used to price portfolio holdings for which market quotations are readily available. Market values generally reflect the prices at which securities actually trade or represent prices that have been adjusted based on evaluations and information provided by the fund’s pricing services. Investments in other mutual funds are valued at the closing net asset value per share of the mutual fund on the day of valuation. If a
T. ROWE PRICE | 36 |
market value for a portfolio holding is not available or normal valuation procedures are deemed to be inappropriate, the fund will make a good faith effort to assign a fair value to the holding by taking into account various factors and methodologies that have been approved by the fund’s Board. This value may differ from the value the fund receives upon sale of the securities. Amortized cost is used to price securities held by money market funds and certain short-term debt securities held by a fund.
The funds use various pricing services to provide closing market prices, as well as information used to adjust those prices and to value most fixed income securities. A fund cannot predict how often it will use closing prices and how often it will adjust those prices. As a means of evaluating its fair value process, the fund routinely compares closing market prices, the next day’s opening prices in the same markets, and adjusted prices.
Non-U.S. equity securities are valued on the basis of their most recent closing market prices at 4 p.m. ET, except under the following circumstances. Most foreign markets close before 4 p.m. ET. For example, the most recent closing prices for securities traded in certain Asian markets may be as much as 15 hours old at 4 p.m. ET. If a fund determines that developments between the close of a foreign market and the close of the NYSE will affect the value of some or all of the fund’s securities, the fund will adjust the previous closing prices to reflect what it believes to be the fair value of the securities as of 4 p.m. ET. In deciding whether to make these adjustments, the fund reviews a variety of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities.
A fund may also fair value certain securities or a group of securities in other situations—for example, when a particular foreign market is closed but the fund is open. For a fund that has investments in securities that are primarily listed on foreign exchanges that trade on weekends or other days when the fund does not price its shares, the fund’s net asset value may change on days when shareholders will not be able to purchase or redeem the fund’s shares. If an event occurs that affects the value of a security after the close of the market, such as a default of a commercial paper issuer or a significant move in short-term interest rates, a fund may make a price adjustment depending on the nature and significance of the event. The funds also evaluate a variety of factors when assigning fair values to private placements and other restricted securities. Other mutual funds may adjust the prices of their securities by different amounts or assign different fair values than the fair value that the fund assigns to the same security.
How the Trade Date Is Determined
If you invest directly with T. Rowe Price and your request to purchase, sell, or exchange shares is received by T. Rowe Price or its agent in correct form by the close of the NYSE (normally 4 p.m. ET), your transaction will be priced at that business day’s net asset value. If your request is received by T. Rowe Price or its agent in correct form after the close of the NYSE, your transaction will be priced at the next business day’s net asset value unless the fund has an agreement with your financial intermediary for orders to be priced at the net asset value next computed after receipt by the financial intermediary.
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 37 |
The funds have authorized certain financial intermediaries or their designees to accept orders to buy or sell fund shares on their behalf. When authorized financial intermediaries receive an order in correct form, the order is considered as being placed with the fund and shares will be bought or sold at the net asset value next calculated after the order is received by the authorized financial intermediary. The financial intermediary must transmit the order to T. Rowe Price and pay for such shares in accordance with the agreement with T. Rowe Price, or the order may be canceled and the financial intermediary could be held liable for the losses. If the fund does not have such an agreement in place with your financial intermediary, T. Rowe Price or its agent must receive the request in correct form from your financial intermediary by the close of the NYSE in order for your transaction to be priced at that business day’s net asset value. Contact your financial intermediary for trade deadlines and the applicable policies for purchasing, selling, or exchanging your shares, as well as initial and subsequent investment minimums. The financial intermediary may charge a fee, such as transaction fees or brokerage commissions, for its services.
Note: There may be times when you are unable to contact us or access your account due to extreme market activity or other circumstances. Should this occur, your order must still be placed and received in correct form by T. Rowe Price (or by the financial intermediary in accordance with its agreement with T. Rowe Price) prior to the time the NYSE closes to be priced at that business day’s net asset value. The time at which transactions and shares are priced and the time until which orders are accepted may be changed in case of an emergency or if the NYSE closes at a time other than 4 p.m. ET. The funds reserve the right to not treat an unscheduled intraday disruption or closure in NYSE trading as a closure of the NYSE and still accept transactions and calculate their net asset value as of 4 p.m. ET.
Transaction Confirmations
T. Rowe Price sends immediate confirmations for most of your fund transactions. However, certain transactions, such as dividend reinvestments, do not receive an immediate transaction confirmation but are reported on your account statement. Please review transaction confirmations and account statements as soon as you receive them and promptly report any discrepancies to Financial Institution Services.
Preventing Unauthorized Transactions
The T. Rowe Price Funds and their agents use reasonably designed procedures to verify that telephone, electronic, and other instructions are genuine. These procedures include, among other things, recording telephone calls; requiring personalized security codes or other information online and certain identifying information for telephone calls; requiring Medallion signature guarantees for certain transactions and account changes; and promptly sending confirmations of transactions and address changes. For transactions conducted online, we recommend the use of a secure internet browser.
T. Rowe Price Account Protection Program Shareholders who invest in the T. Rowe Price Funds directly are eligible for the Account Protection Program. The Account Protection Program restores eligible losses due to unauthorized or fraudulent activity, provided that you follow all security best practices when you access and maintain your account(s). T. Rowe Price
T. ROWE PRICE | 38 |
reserves the right to modify or withdraw the Account Protection Program at any time. The Account Protection Program security best practices and additional information may be accessed online at https://www.troweprice.com/personal-investing/help/policies-and-security/account-protection-program.html.
If our verification procedures are followed, and the losses are not eligible to be restored under the Account Protection Program, the funds and their agents are not liable for any losses that may occur from acting on unauthorized instructions.
If you suspect any unauthorized account activity, notice errors or discrepancies in your T. Rowe Price account, or are not receiving your T. Rowe Price account statements, please contact T. Rowe Price immediately. Telephone conversations are recorded.
Purchasing Shares
Purchases may be initiated through the National Securities Clearing Corporation or by calling Financial Institution Services. All initial and subsequent investments are typically made by bank wire, although checks or other forms of payment may be accepted in certain cases. There is no assurance that the share price for a purchase will be the same day a wire was initiated.
The funds generally do not accept orders that request a particular day or price for a transaction or any other special conditions. However, when authorized by the fund, certain institutions, financial intermediaries, or retirement plans purchasing fund shares directly with T. Rowe Price may place a purchase order unaccompanied by payment. Payment for these shares must be received by the time designated by the fund (not to exceed the period established for settlement under applicable regulations). If payment is not received by this time, the order may be canceled. The institution, financial intermediary, or retirement plan is responsible for any costs or losses incurred by the fund or T. Rowe Price if payment is delayed or not received.
U.S. Dollars All purchases must be paid for in U.S. dollars; checks must be drawn on U.S. banks and should be payable to the T. Rowe Price Funds.
Nonpayment Purchases of a fund may be canceled if payment is not received in a timely manner, and the shareholder may be responsible for any losses or expenses incurred by the fund or its transfer agent. The funds and their agents have the right to reject or cancel any purchase, exchange, or redemption due to nonpayment.
Investment Minimums
The Institutional Class generally requires a $1 million minimum initial investment and the F Class generally requires a $2,500 minimum initial investment, although the minimums may be waived for financial intermediaries, retirement plans, and certain other institutional investors. In addition, we request that you give us at least three business days’ notice (seven business days’ notice for the Institutional Floating Rate Fund) for any purchase of $5 million or more. There is generally no minimum required for additional purchases.
You should check with your financial advisor, retirement plan, or financial intermediary to determine what minimum applies to your initial and additional investments.
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 39 |
Exchanging and Redeeming Shares
Exchanges You can move money from one account to an existing, identically registered account or open a new identically registered account. An exchange from one fund to another will be reported to the Internal Revenue Service as a sale for tax purposes.
Redemptions Redemptions are typically initiated through the National Securities Clearing Corporation or by calling Financial Institution Services. Please note that certain redemption requests initiated through the National Securities Clearing Corporation may be rejected, and in such instances, the transaction must be placed by contacting a Financial Institution Services representative.
If for some reason we cannot accept your request to exchange or redeem shares, we will attempt to contact you.
If you request to redeem a specific dollar amount and the market value of your account is less than the amount of your request and we are unable to contact you, your redemption will not be processed and you will need to submit a new redemption request in correct form.
Receiving Redemption Proceeds Unless otherwise indicated, redemption proceeds will be sent via bank wire to the designated bank on file for the account. If a request is received in correct form by T. Rowe Price or its agent on a business day prior to the close of the NYSE, proceeds are usually sent on the next business day. Proceeds sent by bank wire are usually credited to an account the next business day after the sale. Redemption proceeds can be mailed to the account address by check if specifically requested. Normally, the fund transmits proceeds to financial intermediaries for redemption orders received in correct form on either the next business day or second business day after receipt of the order, depending on the arrangement with the financial intermediary. You must contact your financial intermediary about procedures for receiving your redemption proceeds.
Large Redemptions Large redemptions (for example, $250,000 or more) can adversely affect a portfolio manager’s ability to implement a fund’s investment strategy by causing the premature sale of securities that would otherwise be held longer. Therefore, the fund reserves the right (without prior notice) to redeem in-kind. In general, any redemptions in-kind will represent a pro-rata distribution of a fund’s securities, subject to certain limited exceptions. The redeeming shareholder will be responsible for disposing of the securities, and the shareholder will be subject to the risks that the value of the securities could decline prior to their sale, the securities could be difficult to sell, and brokerage fees could be incurred. If you continue to hold the securities, you may be subject to any ownership restrictions imposed by the issuers. For example, real estate investment trusts often impose ownership restrictions on their equity securities.
Delays in Sending Redemption Proceeds
The T. Rowe Price Funds typically expect that it will take one to two days following the receipt of a redemption request that is in correct form to send redemption proceeds, regardless of the method the fund uses to make such payment (for example, check, wire, or Automated Clearing
T. ROWE PRICE | 40 |
House transfer). Checks are typically mailed on the business day after the redemption, proceeds sent by wire are typically credited to your financial institution the business day after the redemption, and proceeds sent by Automated Clearing House are typically credited to your financial institution on the second business day after the redemption. However, under certain circumstances, and when deemed to be in a fund’s best interests, proceeds may not be sent for up to seven calendar days after receipt of a valid redemption order (for example, during periods of deteriorating or stressed market conditions or during extraordinary or emergency circumstances).
In addition, if shares are sold that were just purchased and paid for by check or Automated Clearing House transfer, the fund will process your redemption but will generally delay sending the proceeds for up to seven calendar days to allow the check or Automated Clearing House transfer to clear. If, during the clearing period, we receive a check drawn against your newly purchased shares, it will be returned and marked “uncollected.” (The seven-day hold does not apply to purchases paid for by bank wire or automatic purchases through payroll deduction.)
The Board of a retail or institutional money market fund may temporarily suspend redemptions from the fund for up to 10 business days during any 90-day period (i.e., a “redemption gate”) and elect to temporarily suspend redemptions for up to 10 business days in a 90-day period if the fund’s weekly liquid assets fall below 30% of its total assets and the fund’s Board determines that imposing a redemption gate is in the fund’s best interests. In addition, under certain limited circumstances, the Board of a retail or institutional money market fund may elect to permanently suspend redemptions in order to facilitate an orderly liquidation of the fund (subject to any additional liquidation requirements).
You may initiate transactions involving the Institutional Funds by telephone, by mail, or through the National Securities Clearing Corporation. The T. Rowe Price Funds and their agents use reasonable procedures to verify the identity of the person contacting T. Rowe Price and to ensure that the person is authorized to act on behalf of the account. If these procedures are followed, the funds and their agents are not liable for any losses that may occur from acting on unauthorized instructions. Please review the transaction confirmation carefully, and contact Financial Institution Services immediately about any transaction you believe to be unauthorized. Telephone conversations are recorded.
To place a transaction or make any inquiries regarding the T. Rowe Price Institutional Funds, please call Financial Institution Services at 1-800-638-8790. To mail any information to T. Rowe Price regarding the T. Rowe Price Institutional Funds, please use the following addresses:
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 41 |
via U.S. mail T.
Rowe Price Financial Institution Services | via private carriers/overnight services T. Rowe Price Financial Institution Services |
Note: If sending a check for a purchase, your transaction will receive the share price for the business day that the check is received by T. Rowe Price or its agent prior to the close of the NYSE (normally 4 p.m. ET), which could differ from the day that the check is received at the post office box.
If you hold shares of a T. Rowe Price Institutional Fund through a retirement plan or financial intermediary, you must contact your retirement plan or financial intermediary with any inquiries.
Involuntary Redemptions and Share Class Conversions
Shares held by any investors that no longer meet the definition of an institutional investor or fail to meet or maintain their account(s) at the investment minimum are subject to involuntary redemption at any time.
For all accounts in Institutional Funds (except for F Class and Z Class accounts), to help keep operating expenses lower, we ask that you maintain an account balance of at least $1 million. If your investment falls below $1 million (even if due to market depreciation), we have the right to redeem your account at the then-current net asset value after giving you 60 days to increase your balance.
The redemption of your account could result in a taxable gain or loss.
For any F Class accounts that are no longer held through an eligible financial intermediary, we have the right to convert your account to the Institutional Class following notice to the financial intermediary or shareholder.
Excessive and Short-Term Trading Policy
Excessive transactions and short-term trading can be harmful to fund shareholders in various ways, such as disrupting a fund’s portfolio management strategies, increasing a fund’s trading and other costs, and negatively affecting its performance. Short-term traders in funds that invest in foreign securities may seek to take advantage of developments overseas that could lead to an anticipated difference between the price of the funds’ shares and price movements in foreign markets. While there is no assurance that T. Rowe Price can prevent all excessive and short-term trading, the Boards of the T. Rowe Price Funds have adopted the following trading limits that are designed to deter such activity and protect the funds’ shareholders. The funds may revise their trading limits and procedures at any time as the Boards deem necessary or appropriate to better detect short-term trading that may adversely affect the funds, to comply with applicable regulatory requirements, or to impose additional or alternative restrictions.
Subject to certain exceptions, each T. Rowe Price Fund restricts a shareholder’s purchases (including through exchanges) into a fund account for a period of 30 calendar days after the
T. ROWE PRICE | 42 |
shareholder has redeemed or exchanged out of that same fund account (the “30-Day Purchase Block”). The calendar day after the date of redemption is considered Day 1 for purposes of computing the period before another purchase may be made.
General Exceptions As of the date of this prospectus, the following types of transactions generally are not subject to the funds’ excessive and short-term trading policy:
· Shares purchased or redeemed in money market funds and ultra short-term bond funds;
· Shares purchased or redeemed through a systematic purchase or withdrawal plan;
· Checkwriting redemptions from bond funds and money market funds;
· Shares purchased through the reinvestment of dividends or capital gain distributions;
· Shares redeemed automatically by a fund to pay fund fees or shareholder account fees;
· Transfers and changes of account registration within the same fund;
· Shares purchased by asset transfer or direct rollover;
· Shares purchased or redeemed through IRA conversions and recharacterizations;
· Shares redeemed to return an excess contribution from a retirement account;
· Transactions in Section 529 college savings plans;
· Certain transactions in defined benefit and nonqualified plans, subject to prior approval by T. Rowe Price;
· Shares converted from one share class to another share class in the same fund;
· Shares of T. Rowe Price Funds that are purchased by another T. Rowe Price Fund, including shares purchased by T. Rowe Price fund-of-funds products, and shares purchased by discretionary accounts managed by T. Rowe Price or one of its affiliates (please note that shareholders of the investing T. Rowe Price Fund are still subject to the policy);
· Transactions initiated by the trustee or adviser to a donor-advised charitable gift fund as approved by T. Rowe Price; and
· Transactions having a value of $5,000 or less (retirement plans, including those for which T. Rowe Price serves as recordkeeper, and other financial intermediaries may apply the excessive and short-term trading policy to transactions of any amount).
Transactions in certain rebalancing, asset allocation, wrap, and other advisory programs, as well as non-T. Rowe Price fund-of-funds products, may also be exempt from the 30-Day Purchase Block, subject to prior written approval by T. Rowe Price.
In addition to restricting transactions in accordance with the 30-Day Purchase Block, T. Rowe Price may, in its discretion, reject (or instruct a financial intermediary to reject) any purchase or exchange into a fund from a person (which includes individuals and entities) whose trading activity could disrupt the management of the fund or dilute the value of the fund’s shares, including trading by persons acting collectively (for example, following the advice of a newsletter). Such persons may be barred, without prior notice, from further purchases of T. Rowe Price Funds for a period longer than 30 calendar days, or permanently.
Financial Intermediary Accounts If you invest in T. Rowe Price Funds through a financial intermediary, including a retirement plan, you should review the financial intermediary’s or retirement plan’s materials carefully or consult with the financial intermediary or plan sponsor directly to determine the trading policy that will apply to your trades in the T. Rowe Price
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 43 |
Funds as well as any other rules or conditions on transactions that may apply. If T. Rowe Price is unable to identify a transaction placed through a financial intermediary as exempt from the excessive trading policy, the 30-Day Purchase Block may apply.
Financial intermediaries may maintain their underlying accounts directly with the fund, although they often establish an omnibus account (one account with the fund that represents multiple underlying shareholder accounts) on behalf of their customers. When financial intermediaries establish omnibus accounts in the T. Rowe Price Funds, T. Rowe Price is not able to monitor the trading activity of the underlying shareholders. However, T. Rowe Price monitors aggregate trading activity at the financial intermediary (omnibus account) level in an attempt to identify activity that indicates potential excessive or short-term trading. If it detects such trading activity, T. Rowe Price may contact the financial intermediary to request personal identifying information and transaction histories for some or all underlying shareholders (including plan participants, if applicable) pursuant to a written agreement that T. Rowe Price has entered into with each financial intermediary. Any nonpublic personal information provided to the fund (for example, a shareholder’s taxpayer identification number or transaction records) is subject to the fund’s privacy policy. If T. Rowe Price believes that excessive or short-term trading has occurred and there is no exception for such trades under the funds’ Excessive and Short-Term Trading Policy as previously described, it will instruct the financial intermediary to impose restrictions to discourage such practices and take appropriate action with respect to the underlying shareholder, including restricting purchases for 30 calendar days or longer. Each financial intermediary has agreed to execute such instructions pursuant to a written agreement. There is no assurance that T. Rowe Price will be able to properly enforce its Excessive and Short-Term Trading Policy for omnibus accounts. Because T. Rowe Price generally relies on financial intermediaries to provide information and impose restrictions for omnibus accounts, its ability to monitor and deter excessive trading will be dependent upon the financial intermediaries’ timely performance of their responsibilities.
T. Rowe Price may allow a financial intermediary or other third party to maintain restrictions on trading in the T. Rowe Price Funds that differ from the 30-Day Purchase Block. An alternative excessive trading policy would be acceptable to T. Rowe Price if it believes that the policy would provide sufficient protection to the T. Rowe Price Funds and their shareholders that is consistent with the Excessive and Short-Term Trading Policy adopted by the funds’ Boards.
Retirement
Plan Accounts If shares are held in a retirement plan, generally the
30-Day Purchase Block
applies only to shares redeemed by a participant-directed exchange to another fund. However, the 30-Day
Purchase Block may apply to transactions other than exchanges depending on how shares of the plan are
held at T. Rowe Price or the excessive trading policy applied by your plan’s recordkeeper. An alternative
excessive trading policy may apply to the T. Rowe Price Funds where a retirement plan has its own policy
deemed acceptable to T. Rowe Price. You should contact T. Rowe Price or your plan recordkeeper to determine
which of your transactions are subject to the funds’ 30-Day Purchase Block or an alternative policy.
T. ROWE PRICE | 44 |
There is no guarantee that T. Rowe Price will be able to identify or prevent all excessive or short-term trades or trading practices.
Unclaimed Accounts and Uncashed Checks
If your account has no activity for a certain period of time and/or mail sent to you from T. Rowe Price (or your financial intermediary) is returned by the post office, T. Rowe Price (or your financial intermediary) may be required to transfer your account and any assets related to uncashed checks to the appropriate state under its abandoned property laws. To avoid such action, it is important to keep your account address up to date and periodically contact T. Rowe Price at least once every two years.
Delivery of Shareholder Documents
If two or more accounts own the same fund, share the same address, and T. Rowe Price reasonably believes that the two accounts are part of the same institution, we may economize on fund expenses by mailing only one shareholder report and prospectus for the fund. If you do not want your mailings to be “householded,” please call Financial Institution Services.
Signature Guarantees
A Medallion signature guarantee is designed to protect you and the T. Rowe Price Funds from fraud by verifying your signature.
A signature guarantee may be required in certain situations, such as:
· Remitting redemption proceeds to any person, address, or bank account not on file or
· Changing the account registration or broker-dealer of record for an account.
Consult Financial Institution Services for specific requirements.
The signature guarantee must be obtained from a financial institution that is a participant in a Medallion signature guarantee program. You can obtain a Medallion signature guarantee from certain banks, savings institutions, broker-dealers, and other guarantors acceptable to T. Rowe Price. When obtaining a Medallion signature guarantee, please discuss with the guarantor the dollar amount of your proposed transaction. It is important that the level of coverage provided by the guarantor’s stamp covers the dollar amount of the transaction or it may be rejected. We cannot accept guarantees from notaries public or organizations that do not provide reimbursement in the case of fraud.
Fund Operations and Shareholder Services
T. Rowe Price and The Bank of New York Mellon, subject to the oversight of T. Rowe Price, each provide certain accounting services to the T. Rowe Price Funds. T. Rowe Price Services, Inc., acts as the transfer agent and dividend disbursing agent and provides shareholder and administrative services to the funds. T. Rowe Price Retirement Plan Services, Inc., provides recordkeeping, sub-transfer agency, and administrative services for certain types of retirement plans investing in the funds. These companies receive compensation from the funds for their services. The F Class may also pay financial intermediaries for performing shareholder and administrative services for underlying shareholders in omnibus accounts. All of the fees
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 45 |
discussed above are included in a fund’s financial statements and, except for funds that have an all-inclusive management fee, are also reflected in the “Other expenses” line that appears in a table titled “Fees and Expenses of the Fund” in Section 1.
Each fund intends to qualify to be treated each year as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. In order to qualify, a fund must satisfy certain income, diversification, and distribution requirements. A regulated investment company is not subject to U.S. federal income tax at the portfolio level on income and gains from investments that are distributed to shareholders. However, if a fund were to fail to qualify as a regulated investment company and was ineligible to or otherwise did not cure such failure, the result would be fund-level taxation and, consequently, a reduction in income available for distribution to the fund’s shareholders.
To the extent possible, all net investment income and realized capital gains are distributed to shareholders.
Dividends and Other Distributions
Dividend and capital gain distributions are reinvested in additional fund shares in your account unless you select another option on your new account form. Reinvesting distributions results in compounding, which allows you to receive dividends and capital gain distributions on an increasing number of shares.
Distributions not reinvested are paid by check or transmitted electronically to your bank account. If the U.S. Postal Service cannot deliver your check or if your check remains uncashed for six months, the fund reserves the right to reinvest your distribution check in your account at the net asset value on the day of the reinvestment and to reinvest all subsequent distributions in additional shares of the fund. Interest will not accrue on amounts represented by uncashed distributions or redemption checks.
The following table provides details on dividend payments:
Dividend Payment Schedule | |
Fund | Dividends |
Bond funds | · Shares normally begin to earn dividends on the business day after payment is received by T. Rowe Price. · Declared daily and paid on the first business day of each month. |
Stock funds | · Must be a shareholder on the dividend record date. · Declared and paid annually, if any, generally in December. |
Shares of bond funds will earn dividends through the date of redemption. Shares redeemed on a Friday or prior to a holiday will continue to earn dividends until the next business day.
T. ROWE PRICE | 46 |
Generally, if you redeem all of your bond fund shares at any time during the month, you will also receive all dividends earned through the date of redemption in the same check. When you redeem only a portion of your bond fund shares, all dividends accrued on those shares will be reinvested, or paid in cash, on the next dividend payment date. The funds do not pay dividends in fractional cents. Any dividend amount earned for a particular day on all shares held that is one-half of one cent or greater (for example, $0.016) will be rounded up to the next whole cent ($0.02), and any amount that is less than one-half of one cent (for example, $0.014) will be rounded down to the nearest whole cent ($0.01). Please note that if the dividend payable on all shares held is less than one-half of one cent for a particular day, no dividend will be earned for that day.
If you purchase and redeem your shares through a financial intermediary, consult your financial intermediary to determine when your shares begin and stop accruing dividends as the information previously described may vary.
Capital Gain Payments
A capital gain or loss is the difference between the purchase and sale price of a security. If a fund has net capital gains for the year (after subtracting any capital losses), they are usually declared and paid in December to shareholders of record on a specified date that month. If a second distribution is necessary, it is generally paid the following year. A fund may have to make additional capital gain distributions, if necessary, to comply with the applicable tax law.
Tax Information
In most cases, you will be provided information for your tax filing needs no later than mid-February.
If you invest in the fund through a tax-deferred account, such as an IRA or employer-sponsored retirement plan, you will not be subject to tax on dividends and distributions from the fund or the sale of fund shares if those amounts remain in the tax-deferred account. You may receive a Form 1099-R or other Internal Revenue Service forms, as applicable, if any portion of the account is distributed to you.
If you invest in the fund through a taxable account, you generally will be subject to tax when:
· You sell fund shares, including an exchange from one fund to another.
· The fund makes dividend or capital gain distributions.
For individual shareholders, a portion of ordinary dividends representing “qualified dividend income” received by the fund may be subject to tax at the lower rates applicable to long-term capital gains rather than ordinary income. You may report it as “qualified dividend income” in computing your taxes, provided you have held the fund shares on which the dividend was paid for more than 60 days during the 121-day period beginning 60 days before the ex-dividend date. Ordinary dividends that do not qualify for this lower rate are generally taxable at the investor’s marginal income tax rate. This includes the portion of ordinary dividends derived from interest, short-term capital gains, income and gains from derivatives, distributions from nonqualified foreign corporations, distributions from real estate investment trusts, and
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 47 |
dividends received by the fund from stocks that were on loan. For taxable years ending after December 31, 2017 and before January 1, 2026, you are generally allowed a deduction of up to 20% on your qualified real estate investment trust (REIT) dividends. You may not take this deduction for a dividend on shares of a fund that have been held for less than 46 days during the 91-day period beginning on the date 45 days before the ex-dividend date. Little, if any, of the ordinary dividends paid by the bond funds or money market funds is expected to qualify for treatment as qualified dividend income or qualified REIT dividends.
For corporate shareholders, a portion of ordinary dividends may be eligible for the deduction for dividends received by corporations to the extent the fund’s income consists of dividends paid by U.S. corporations. Little, if any, of the ordinary dividends paid by the international stock or bond funds is expected to qualify for this deduction.
A 3.8% net investment income tax is imposed on net investment income, including interest, dividends, and capital gains of U.S. individuals with income exceeding $200,000 (or $250,000 if married filing jointly) and of estates and trusts.
If you hold your fund through a financial intermediary, the financial intermediary is responsible for providing you with any necessary tax forms. You should contact your financial intermediary for the tax information that will be sent to you and reported to the Internal Revenue Service.
Taxes on Fund Redemptions
When you sell shares in any fund, you may realize a gain or loss. An exchange from one fund to another in a taxable account is also a sale for tax purposes.
All or a portion of the loss realized from a sale or exchange of your fund shares may be disallowed under the “wash sale” rule if you purchase substantially identical shares within a 61-day period beginning 30 days before and ending 30 days after the date on which the shares are sold or exchanged. Shares of the same fund you acquire through dividend reinvestment are shares purchased for the purpose of the wash sale rule and may trigger a disallowance of the loss for shares sold or exchanged within the 61-day period of the dividend reinvestment. Any loss disallowed under the wash sale rule is added to the cost basis of the purchased shares.
T. Rowe Price (or your financial intermediary) will make available to you Form 1099-B, if applicable, no later than mid-February, providing certain information for each sale you made in the fund during the prior year. Unless otherwise indicated on your Form 1099-B, this information will also be reported to the Internal Revenue Service. For mutual fund shares acquired prior to 2012 in most accounts established or opened by exchange in 1984 or later, our Form 1099-B will provide you with the gain or loss on the shares you sold during the year based on the average cost single category method. This information on average cost and gain or loss from sale is not reported to the Internal Revenue Service. For these mutual fund shares acquired prior to 2012, you may calculate the cost basis using other methods acceptable to the Internal Revenue Service, such as specific identification.
T. ROWE PRICE | 48 |
For mutual fund shares acquired after 2011, federal income tax regulations require us to report the cost basis information on Form 1099-B using a cost basis method selected by the shareholder in compliance with such regulations or, in the absence of such selected method, our default method if you acquire your shares directly from T. Rowe Price. Our default method is average cost. For any fund shares acquired through a financial intermediary after 2011, you should check with your financial intermediary regarding the applicable cost basis method. You should, however, note that the cost basis information reported to you may not always be the same as what you should report on your tax return because the rules applicable to the determination of cost basis on Form 1099-B may be different from the rules applicable to the determination of cost basis for reporting on your tax return. Therefore, you should save your transaction records to make sure the information reported on your tax return is accurate. T. Rowe Price and financial intermediaries are not required to issue a Form 1099-B to report sales of money market fund shares.
To help you maintain accurate records, T. Rowe Price will make available to you a confirmation promptly following each transaction you make (except for systematic purchases and systematic redemptions) and a year-end statement detailing all of your transactions in each fund account during the year. If you hold your fund through a financial intermediary, the financial intermediary is responsible for providing you with transaction confirmations and statements.
Taxes on Fund Distributions
T. Rowe Price (or your financial intermediary) will make available to you, as applicable, generally no later than mid-February, a Form 1099-DIV, or other Internal Revenue Service forms, as required, indicating the tax status of any income dividends, dividends exempt from federal income taxes, and capital gain distributions made to you. This information will be reported to the Internal Revenue Service. Taxable distributions are generally taxable to you in the year in which they are paid. A dividend declared in October, November, or December and paid in the following January is generally treated as taxable to you as if you received the distribution in December. Dividends from tax-free funds are generally expected to be tax-exempt for federal income tax purposes. Your bond fund dividends for each calendar year will include dividends accrued up to the first business day of the next calendar year. Ordinary dividends and capital gain dividends may also be subject to state and local taxes. You will be sent any additional information you need to determine your taxes on fund distributions, such as the portion of your dividends, if any, that may be exempt from state and local income taxes.
Taxable distributions are subject to tax whether reinvested in additional shares or received in cash.
The tax treatment of a capital gain distribution is determined by how long the fund held the portfolio securities, not how long you held the shares in the fund. Short-term (one year or less) capital gain distributions are taxable at the same rate as ordinary income, and gains on securities held for more than one year are taxed at the lower rates applicable to long-term capital gains. If you realized a loss on the sale or exchange of fund shares that you held for six months or less, your short-term capital loss must be reclassified as a long-term capital loss to
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 49 |
the extent of any long-term capital gain distributions received during the period you held the shares. For funds investing in foreign instruments, distributions resulting from the sale of certain foreign currencies, currency contracts, and the foreign currency portion of gains on debt instruments are taxed as ordinary income. Net foreign currency losses may cause monthly or quarterly dividends to be reclassified as returns of capital.
A fund’s distributions that have exceeded the fund’s earnings and profits for the relevant tax year may be treated as a return of capital to its shareholders. A return of capital distribution is generally nontaxable but reduces the shareholder’s cost basis in the fund, and any return of capital in excess of the cost basis will result in a capital gain.
The tax status of certain distributions may be recharacterized on year-end tax forms, such as your Form 1099-DIV. Distributions made by a fund may later be recharacterized for federal income tax purposes—for example, from taxable ordinary income dividends to returns of capital. A recharacterization of distributions may occur for a number of reasons, including the recharacterization of income received from underlying investments, such as real estate investment trusts (REITs), and distributions that exceed taxable income due to losses from foreign currency transactions or other investment transactions. Certain funds, including international bond funds and funds that invest in REITs, are more likely to recharacterize a portion of their distributions as a result of their investments.
If the fund qualifies and elects to pass through nonrefundable foreign income taxes paid to foreign governments during the year, your portion of such taxes will be reported to you as taxable income. However, you may be able to claim an offsetting credit or deduction on your tax return for those amounts. There can be no assurance that a fund will meet the requirements to pass through foreign income taxes paid.
If you are subject to backup withholding, we will have to withhold a 24% backup withholding tax on distributions and, in some cases, redemption payments. You may be subject to backup withholding if we are notified by the Internal Revenue Service to withhold, you have failed one or more tax certification requirements, or our records indicate that your tax identification number is missing or incorrect. Backup withholding is not an additional tax and is generally available to credit against your federal income tax liability with any excess refunded to you by the Internal Revenue Service.
Tax Consequences of Hedging
Entering into certain transactions involving options, futures, swaps, and forward currency exchange contracts may result in the application of the mark-to-market and straddle provisions of the Internal Revenue Code. These provisions could result in a fund being required to distribute gains on such transactions even though it did not close the contracts during the year or receive cash to pay such distributions. The fund may not be able to reduce its distributions for losses on such transactions to the extent of unrealized gains in offsetting positions.
Tax Consequences of Shareholder Turnover
If the fund’s portfolio transactions result in a net capital loss (i.e., an excess of capital losses over capital gains) for any year, the loss may be carried forward and used to offset future
T. ROWE PRICE | 50 |
realized capital gains. However, its ability to carry forward such losses will be limited if the fund experiences an “ownership change” within the meaning of the Internal Revenue Code. An ownership change generally results when shareholders owning 5% or more of the fund increase their aggregate holdings by more than 50 percentage points over a three-year period.
Because Institutional Funds may have only a few large shareholders, an ownership change can occur in the normal course of shareholder purchases and redemptions. The fund undertakes no obligation to avoid or prevent an ownership change. Moreover, because of circumstances beyond the fund’s control, there can be no assurance that the fund will not experience, or has not already experienced, an ownership change. An ownership change can reduce the fund’s ability to offset capital gains with losses, which could increase the amount of taxable gains that could be distributed to shareholders.
Tax Effect of Buying Shares Before an Income Dividend or Capital Gain Distribution
If you buy shares shortly before or on the record date—the date that establishes you as the person to receive the upcoming distribution—you may receive a portion of the money you just invested in the form of a taxable distribution. Therefore, you may wish to find out a fund’s record date before investing. In addition, a fund’s share price may, at any time, reflect undistributed capital gains or income and unrealized appreciation, which may result in future taxable distributions. Such distributions can occur even in a year when the fund has a negative return.
T. Rowe Price Funds and their agents, in their sole discretion, reserve the following rights: (1) to waive or lower investment minimums; (2) to accept initial purchases by telephone; (3) to refuse any purchase or exchange order; (4) to cancel or rescind any purchase or exchange order placed through a financial intermediary no later than the business day after the order is received by the financial intermediary (including, but not limited to, orders deemed to result in excessive trading, market timing, or 5% ownership); (5) to cease offering fund shares at any time to all or certain groups of investors; (6) to freeze any account and suspend account services when notice has been received of a dispute regarding the ownership of the account, or a legal claim against an account, upon initial notification to T. Rowe Price of a shareholder’s death until T. Rowe Price receives required documentation in correct form, or if there is reason to believe a fraudulent transaction may occur; (7) to otherwise modify the conditions of purchase and modify or terminate any services at any time; (8) to waive any wire, small account, maintenance, or fiduciary fees charged to a group of shareholders; (9) to act on instructions reasonably believed to be genuine; (10) to involuntarily redeem an account at the net asset value calculated the day the account is redeemed when permitted by law, including in cases of threatening conduct, suspected fraudulent or illegal activity, or if the fund or its agent is unable, through its procedures, to verify the identity of the person(s) or entity opening an
INFORMATION ABOUT ACCOUNTS IN T. ROWE PRICE FUNDS | 51 |
account; and (11) for money market funds, to suspend redemptions to facilitate an orderly liquidation.
The fund’s Statement of Additional Information, which contains a more detailed description of the fund’s operations, investment restrictions, policies and practices, has been filed with the SEC. The Statement of Additional Information is incorporated by reference into this prospectus, which means that it is legally part of this prospectus even if you do not request a copy. Further information about the fund’s investments, including a review of market conditions and the manager’s recent investment strategies and their impact on performance during the past fiscal year, is available in the annual and semiannual shareholder reports. These documents and updated performance information are available through troweprice.com. For inquiries about the fund and to obtain free copies of any of these documents, call 1-800-638-8790. If you invest in the fund through a financial intermediary, you should contact your financial intermediary for copies of these documents.
Fund reports and other fund information are available on the EDGAR Database on the SEC’s internet site at http://www.sec.gov. Copies of this information may be obtained, after paying a duplicating fee, by electronic request at publicinfo@sec.gov.
T. Rowe Price Associates, Inc. |
1940 Act File No. 811-5833 | E163-040 5/1/20 |
STATEMENT OF ADDITIONAL INFORMATION |
This is the Statement of Additional Information (“SAI”) for all of the funds listed below. It is divided into two parts (Part I and Part II). Part I primarily contains information that is particular to each fund, while Part II contains information that generally applies to all of the mutual funds sponsored and managed by T. Rowe Price Associates, Inc. (“Price Funds”).
The date of this Statement of Additional Information is May 1, 2020.
T. ROWE PRICE BALANCED FUND, INC. | |
T. Rowe Price Balanced Fund | RPBAX |
T. Rowe Price Balanced Fund—I Class | RBAIX |
T. ROWE PRICE BLUE CHIP GROWTH FUND, INC. | |
T. Rowe Price Blue Chip Growth Fund | TRBCX |
T. Rowe Price Blue Chip Growth Fund—Advisor Class | PABGX |
T. Rowe Price Blue Chip Growth Fund—I Class | TBCIX |
T. Rowe Price Blue Chip Growth Fund—R Class | RRBGX |
T. ROWE PRICE CAPITAL APPRECIATION FUND, INC. | |
T. Rowe Price Capital Appreciation Fund | PRWCX |
T. Rowe Price Capital Appreciation Fund—Advisor Class | PACLX |
T. Rowe Price Capital Appreciation Fund—I Class | TRAIX |
T. ROWE PRICE COMMUNICATIONS & TECHNOLOGY FUND, INC. | |
T. Rowe Price Communications & Technology Fund | PRMTX |
T. Rowe Price Communications & Technology Fund—I Class | TTMIX |
T. ROWE PRICE CORPORATE INCOME FUND, INC. | |
T. Rowe Price Corporate Income Fund | PRPIX |
T. Rowe Price Corporate Income Fund—I Class | TICCX |
T. ROWE PRICE CREDIT OPPORTUNITIES FUND, INC. | |
T. Rowe Price Credit Opportunities Fund | PRCPX |
T. Rowe Price Credit Opportunities Fund—Advisor Class | PAOPX |
T. Rowe Price Credit Opportunities Fund—I Class | TCRRX |
T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC. | |
T. Rowe Price Diversified Mid-Cap Growth Fund | PRDMX |
T. Rowe Price Diversified Mid-Cap Growth Fund—I Class | RPTTX |
T. ROWE PRICE DIVIDEND GROWTH FUND, INC. | |
T. Rowe Price Dividend Growth Fund | PRDGX |
T. Rowe Price Dividend Growth Fund—Advisor Class | TADGX |
T. Rowe Price Dividend Growth Fund—I Class | PDGIX |
C00-042 5/1/20
T. ROWE PRICE EQUITY FUNDS, INC. (FORMERLY T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.) | |
T. Rowe Price Institutional Large-Cap Core Growth Fund | TPLGX |
T. Rowe Price Institutional Mid-Cap Equity Growth Fund | PMEGX |
T. Rowe Price Institutional Small-Cap Stock Fund | TRSSX |
T. Rowe Price Large-Cap Growth Fund | TRGOX |
T. Rowe Price Large-Cap Growth Fund—I Class (formerly T. Rowe Price Institutional Large-Cap Growth Fund) | TRLGX |
T. Rowe Price Large-Cap Value Fund | TRLUX |
T. Rowe Price Large-Cap Value Fund—I Class (formerly T. Rowe Price Institutional Large-Cap Value Fund) | TILCX |
T. ROWE PRICE EQUITY INCOME FUND, INC. | |
T. Rowe Price Equity Income Fund | PRFDX |
T. Rowe Price Equity Income Fund—Advisor Class | PAFDX |
T. Rowe Price Equity Income Fund—I Class | REIPX |
T. Rowe Price Equity Income Fund—R Class | RRFDX |
T. ROWE PRICE FINANCIAL SERVICES FUND, INC. | |
T. Rowe Price Financial Services Fund | PRISX |
T. Rowe Price Financial Services Fund—I Class | TFIFX |
T. ROWE PRICE FLOATING RATE FUND, INC. | |
T. Rowe Price Floating Rate Fund | PRFRX |
T. Rowe Price Floating Rate Fund—Advisor Class | PAFRX |
T. Rowe Price Floating Rate Fund—I Class | TFAIX |
T. Rowe Price Floating Rate Fund—Z Class | TRIZX |
T. ROWE PRICE GLOBAL ALLOCATION FUND, INC. | |
T. Rowe Price Global Allocation Fund | RPGAX |
T. Rowe Price Global Allocation Fund—Advisor Class | PAFGX |
T. Rowe Price Global Allocation Fund—I Class | TGAFX |
T. ROWE PRICE GLOBAL FUNDS, INC. (FORMERLY INSTITUTIONAL INTERNATIONAL FUNDS, INC.) | |
T. Rowe Price Global Value Equity Fund | TRGVX |
T. Rowe Price Global Value Equity Fund—I Class (formerly T. Rowe Price Institutional Global Value Equity Fund) | PRIGX |
T. Rowe Price Institutional Africa & Middle East Fund | TRIAX |
T. Rowe Price Institutional Emerging Markets Bond Fund | TREBX |
T. Rowe Price Institutional Emerging Markets Equity Fund | IEMFX |
T. Rowe Price Institutional International Core Equity Fund | TRCEX |
T. Rowe Price Institutional International Disciplined Equity Fund | RPICX |
T. Rowe Price Institutional International Growth Equity Fund | PRFEX |
T. ROWE PRICE GLOBAL MULTI-SECTOR BOND FUND, INC. | |
T. Rowe Price Global Multi-Sector Bond Fund | PRSNX |
T. Rowe Price Global Multi-Sector Bond Fund—Advisor Class | PRSAX |
T. Rowe Price Global Multi-Sector Bond Fund—I Class | PGMSX |
T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC. | |
T. Rowe Price Global Real Estate Fund | TRGRX |
T. Rowe Price Global Real Estate Fund—Advisor Class | PAGEX |
T. Rowe Price Global Real Estate Fund—I Class | TIRGX |
2
T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC. | |
T. Rowe Price Global Technology Fund | PRGTX |
T. Rowe Price Global Technology Fund—I Class | PGTIX |
T. ROWE PRICE GNMA FUND, INC. | |
T. Rowe Price GNMA Fund | PRGMX |
T. Rowe Price GNMA Fund—I Class | PRXAX |
T. ROWE PRICE GOVERNMENT MONEY FUND, INC. | |
T. Rowe Price Government Money Fund | PRRXX |
T. Rowe Price Government Money Fund—I Class | TTGXX |
T. ROWE PRICE GROWTH & INCOME FUND, INC. | |
T. Rowe Price Growth & Income Fund | PRGIX |
T. Rowe Price Growth & Income Fund—I Class | TGTIX |
T. ROWE PRICE GROWTH STOCK FUND, INC. | |
T. Rowe Price Growth Stock Fund | PRGFX |
T. Rowe Price Growth Stock Fund—Advisor Class | TRSAX |
T. Rowe Price Growth Stock Fund—I Class | PRUFX |
T. Rowe Price Growth Stock Fund—R Class | RRGSX |
T. Rowe Price Growth Stock Fund—Z Class | TRJZX |
T. ROWE PRICE HEALTH SCIENCES FUND, INC. | |
T. Rowe Price Health Sciences Fund | PRHSX |
T. Rowe Price Health Sciences Fund—I Class | THISX |
T. ROWE PRICE HIGH YIELD FUND, INC. | |
T. Rowe Price High Yield Fund | PRHYX |
T. Rowe Price High Yield Fund—Advisor Class | PAHIX |
T. Rowe Price High Yield Fund—I Class | PRHIX |
T. Rowe Price High Yield Fund—Z Class | TRKZX |
T. Rowe Price U.S. High Yield Fund | TUHYX |
T. Rowe Price U.S. High Yield Fund—Advisor Class | TUHAX |
T. Rowe Price U.S. High Yield Fund—I Class | TUHIX |
T. ROWE PRICE INDEX TRUST, INC. |
|
T. Rowe Price Equity Index 500 Fund | PREIX |
T. Rowe Price Equity Index 500 Fund—I Class | PRUIX |
T. Rowe Price Equity Index 500 Fund—Z Class | TRHZX |
T. Rowe Price Extended Equity Market Index Fund | PEXMX |
T. Rowe Price Mid-Cap Index Fund | — |
T. Rowe Price Mid-Cap Index Fund—I Class | — |
T. Rowe Price Mid-Cap Index Fund—Z Class | TRSZX |
T. Rowe Price Small-Cap Index Fund | — |
T. Rowe Price Small-Cap Index Fund—I Class | — |
T. Rowe Price Small-Cap Index Fund—Z Class | TRZIX |
T. Rowe Price Total Equity Market Index Fund | POMIX |
T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC. | |
T. Rowe Price Inflation Protected Bond Fund | PRIPX |
T. Rowe Price Inflation Protected Bond Fund—I Class | TIIPX |
3
T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC. |
|
T. Rowe Price Institutional Cash Reserves Fund | ICFXX |
T. Rowe Price Institutional Core Plus Fund | TICPX |
T. Rowe Price Institutional Floating Rate Fund | RPIFX |
T. Rowe Price Institutional Floating Rate Fund—F Class | PFFRX |
T. Rowe Price Institutional Floating Rate Fund—Z Class | TRAZX |
T. Rowe Price Institutional High Yield Fund | TRHYX |
T. Rowe Price Institutional High Yield Fund—Z Class | TRCZX |
T. Rowe Price Institutional Long Duration Credit Fund | RPLCX |
T. ROWE PRICE INTERMEDIATE TAX-FREE HIGH YIELD FUND, INC. | |
T. Rowe Price Intermediate Tax-Free High Yield Fund | PRIHX |
T. Rowe Price Intermediate Tax-Free High Yield Fund—Advisor Class | PRAHX |
T. Rowe Price Intermediate Tax-Free High Yield Fund—I Class | TFHAX |
T. ROWE PRICE INTERNATIONAL FUNDS, INC. |
|
T. Rowe Price Africa & Middle East Fund | TRAMX |
T. Rowe Price Africa & Middle East Fund—I Class | PRAMX |
T. Rowe Price Asia Opportunities Fund | TRAOX |
T. Rowe Price Asia Opportunities Fund—Advisor Class | PAAOX |
T. Rowe Price Asia Opportunities Fund—I Class | TRASX |
T. Rowe Price China Evolution Equity Fund | TCELX |
T. Rowe Price China Evolution Equity Fund—I Class | TRCLX |
T. Rowe Price Dynamic Credit Fund | RPIDX |
T. Rowe Price Dynamic Credit Fund—I Class | RPELX |
T. Rowe Price Dynamic Global Bond Fund | RPIEX |
T. Rowe Price Dynamic Global Bond Fund—Advisor Class | PAIEX |
T. Rowe Price Dynamic Global Bond Fund—I Class | RPEIX |
T. Rowe Price Dynamic Global Bond Fund—Z Class | TRDZX |
T. Rowe Price Emerging Europe Fund | TREMX |
T. Rowe Price Emerging Europe Fund—I Class | TTEEX |
T. Rowe Price Emerging Markets Bond Fund | PREMX |
T. Rowe Price Emerging Markets Bond Fund—Advisor Class | PAIKX |
T. Rowe Price Emerging Markets Bond Fund—I Class | PRXIX |
T. Rowe Price Emerging Markets Bond Fund—Z Class | TREZX |
T. Rowe Price Emerging Markets Corporate Bond Fund | TRECX |
T. Rowe Price Emerging Markets Corporate Bond Fund—Advisor Class | PACEX |
T. Rowe Price Emerging Markets Corporate Bond Fund—I Class | TECIX |
T. Rowe Price Emerging Markets Discovery Stock Fund | PRIJX |
T. Rowe Price Emerging Markets Discovery Stock Fund—Advisor Class | PAIJX |
T. Rowe Price Emerging Markets Discovery Stock Fund—I Class | REVIX |
T. Rowe Price Emerging Markets Discovery Stock Fund—Z Class | TRFZX |
T. Rowe Price Emerging Markets Local Currency Bond Fund | PRELX |
T. Rowe Price Emerging Markets Local Currency Bond Fund—Advisor Class | PAELX |
T. Rowe Price Emerging Markets Local Currency Bond Fund—I Class | TEIMX |
4
T. Rowe Price Emerging Markets Stock Fund | PRMSX |
T. Rowe Price Emerging Markets Stock Fund—I Class | PRZIX |
T. Rowe Price Emerging Markets Stock Fund—Z Class | TRGZX |
T. Rowe Price European Stock Fund | PRESX |
T. Rowe Price European Stock Fund—I Class | TEUIX |
T. Rowe Price Global Consumer Fund | PGLOX |
T. Rowe Price Global Growth Stock Fund | RPGEX |
T. Rowe Price Global Growth Stock Fund—Advisor Class | PAGLX |
T. Rowe Price Global Growth Stock Fund—I Class | RGGIX |
T. Rowe Price Global High Income Bond Fund | RPIHX |
T. Rowe Price Global High Income Bond Fund—Advisor Class | PAIHX |
T. Rowe Price Global High Income Bond Fund—I Class | RPOIX |
T. Rowe Price Global Industrials Fund | RPGIX |
T. Rowe Price Global Industrials Fund—I Class | TRGAX |
T. Rowe Price Global Stock Fund | PRGSX |
T. Rowe Price Global Stock Fund—Advisor Class | PAGSX |
T. Rowe Price Global Stock Fund—I Class | TRGLX |
T. Rowe Price International Bond Fund | RPIBX |
T. Rowe Price International Bond Fund—Advisor Class | PAIBX |
T. Rowe Price International Bond Fund—I Class | RPISX |
T. Rowe Price International Bond Fund—Z Class | TRLZX |
T. Rowe Price International Bond Fund (USD Hedged) | TNIBX |
T. Rowe Price International Bond Fund (USD Hedged)—Advisor Class | TTABX |
T. Rowe Price International Bond Fund (USD Hedged)—I Class | TNBMX |
T. Rowe Price International Bond Fund (USD Hedged)—Z Class | TRMZX |
T. Rowe Price International Disciplined Equity Fund | PRCNX |
T. Rowe Price International Disciplined Equity Fund—Advisor Class | PRNCX |
T. Rowe Price International Disciplined Equity Fund—I Class | RICIX |
T. Rowe Price International Discovery Fund | PRIDX |
T. Rowe Price International Discovery Fund—I Class | TIDDX |
T. Rowe Price International Stock Fund | PRITX |
T. Rowe Price International Stock Fund—Advisor Class | PAITX |
T. Rowe Price International Stock Fund—I Class | PRIUX |
T. Rowe Price International Stock Fund—R Class | RRITX |
T. Rowe Price International Stock Fund—Z Class | TRNZX |
T. Rowe Price International Value Equity Fund | TRIGX |
T. Rowe Price International Value Equity Fund—Advisor Class | PAIGX |
T. Rowe Price International Value Equity Fund—I Class | TRTIX |
T. Rowe Price International Value Equity Fund—R Class | RRIGX |
T. Rowe Price International Value Equity Fund—Z Class | TROZX |
T. Rowe Price Japan Fund | PRJPX |
T. Rowe Price Japan Fund—I Class | RJAIX |
T. Rowe Price Latin America Fund | PRLAX |
T. Rowe Price Latin America Fund—I Class | RLAIX |
5
T. Rowe Price New Asia Fund | PRASX |
T. Rowe Price New Asia Fund—I Class | PNSIX |
T. Rowe Price Overseas Stock Fund | TROSX |
T. Rowe Price Overseas Stock Fund—Advisor Class | PAEIX |
T. Rowe Price Overseas Stock Fund—I Class | TROIX |
T. Rowe Price Overseas Stock Fund—Z Class | TRZSX |
T. ROWE PRICE INTERNATIONAL INDEX FUND, INC. |
|
T. Rowe Price International Equity Index Fund | PIEQX |
T. ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND, INC. | |
T. Rowe Price Limited Duration Inflation Focused Bond Fund | TRBFX |
T. Rowe Price Limited Duration Inflation Focused Bond Fund—I Class | TRLDX |
T. Rowe Price Limited Duration Inflation Focused Bond Fund—Z Class | TRPZX |
T. ROWE PRICE MID-CAP GROWTH FUND, INC. | |
T. Rowe Price Mid-Cap Growth Fund | RPMGX |
T. Rowe Price Mid-Cap Growth Fund—Advisor Class | PAMCX |
T. Rowe Price Mid-Cap Growth Fund—I Class | RPTIX |
T. Rowe Price Mid-Cap Growth Fund—R Class | RRMGX |
T. Rowe Price Mid-Cap Growth Fund—Z Class | TRQZX |
T. ROWE PRICE MID-CAP VALUE FUND, INC. | |
T. Rowe Price Mid-Cap Value Fund | TRMCX |
T. Rowe Price Mid-Cap Value Fund—Advisor Class | TAMVX |
T. Rowe Price Mid-Cap Value Fund—I Class | TRMIX |
T. Rowe Price Mid-Cap Value Fund—R Class | RRMVX |
T. Rowe Price Mid-Cap Value Fund—Z Class | TRTZX |
T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC. |
|
T. Rowe Price Emerging Markets Corporate Multi-Sector Account Portfolio | — |
T. Rowe Price Emerging Markets Local Multi-Sector Account Portfolio | — |
T. Rowe Price Floating Rate Multi-Sector Account Portfolio | — |
T. Rowe Price High Yield Multi-Sector Account Portfolio | — |
T. Rowe Price Investment-Grade Corporate Multi-Sector Account Portfolio | — |
T. Rowe Price Mortgage-Backed Securities Multi-Sector Account Portfolio | — |
T. ROWE PRICE MULTI-STRATEGY TOTAL RETURN FUND, INC. | |
T. Rowe Price Multi-Strategy Total Return Fund | TMSRX |
T. Rowe Price Multi-Strategy Total Return Fund—Advisor Class | TMSAX |
T. Rowe Price Multi-Strategy Total Return Fund—I Class | TMSSX |
T. ROWE PRICE NEW AMERICA GROWTH FUND, INC. | |
T. Rowe Price New America Growth Fund | PRWAX |
T. Rowe Price New America Growth Fund—Advisor Class | PAWAX |
T. Rowe Price New America Growth Fund—I Class | PNAIX |
T. ROWE PRICE NEW ERA FUND, INC. | |
T. Rowe Price New Era Fund | PRNEX |
T. Rowe Price New Era Fund—I Class | TRNEX |
6
T. ROWE PRICE NEW HORIZONS FUND, INC. | |
T. Rowe Price New Horizons Fund | PRNHX |
T. Rowe Price New Horizons Fund—I Class | PRJIX |
T. Rowe Price New Horizons Fund—Z Class | TRUZX |
T. ROWE PRICE NEW INCOME FUND, INC. | |
T. Rowe Price New Income Fund | PRCIX |
T. Rowe Price New Income Fund—Advisor Class | PANIX |
T. Rowe Price New Income Fund—I Class | PRXEX |
T. Rowe Price New Income Fund—R Class | RRNIX |
T. Rowe Price New Income Fund—Z Class | TRVZX |
T. ROWE PRICE QUANTITATIVE MANAGEMENT FUNDS, INC. |
|
T. Rowe Price QM Global Equity Fund | TQGEX |
T. Rowe Price QM Global Equity Fund—Advisor Class | TQGAX |
T. Rowe Price QM Global Equity Fund—I Class | TQGIX |
T. Rowe Price QM U.S. Small & Mid-Cap Core Equity Fund | TQSMX |
T. Rowe Price QM U.S. Small & Mid-Cap Core Equity Fund—Advisor Class | TQSAX |
T. Rowe Price QM U.S. Small & Mid-Cap Core Equity Fund—I Class | TQSIX |
T. Rowe Price QM U.S. Small-Cap Growth Equity Fund | PRDSX |
T. Rowe Price QM U.S. Small-Cap Growth Equity Fund—Advisor Class | TQAAX |
T. Rowe Price QM U.S. Small-Cap Growth Equity Fund—I Class | TQAIX |
T. Rowe Price QM U.S. Value Equity Fund | TQMVX |
T. Rowe Price QM U.S. Value Equity Fund—Advisor Class | TQVAX |
T. Rowe Price QM U.S. Value Equity Fund—I Class | TQVIX |
T. ROWE PRICE REAL ASSETS FUND, INC. | |
T. Rowe Price Real Assets Fund | PRAFX |
T. Rowe Price Real Assets Fund—I Class | PRIKX |
T. Rowe Price Real Assets Fund—Z Class | TRZRX |
T. ROWE PRICE REAL ESTATE FUND, INC. | |
T. Rowe Price Real Estate Fund | TRREX |
T. Rowe Price Real Estate Fund—Advisor Class | PAREX |
T. Rowe Price Real Estate Fund—I Class | TIRRX |
T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC. (“TRP RESERVE FUNDS”) |
|
T. Rowe Price Government Reserve Fund | — |
T. Rowe Price Short-Term Fund | — |
T. Rowe Price Short-Term Government Fund | — |
T. Rowe Price Treasury Reserve Fund | — |
T. ROWE PRICE RETIREMENT FUNDS, INC. (“RETIREMENT FUNDS”) |
|
T. Rowe Price Retirement 2005 Fund | TRRFX |
T. Rowe Price Retirement 2005 Fund—Advisor Class | PARGX |
T. Rowe Price Retirement 2005 Fund—R Class | RRTLX |
T. Rowe Price Retirement 2010 Fund | TRRAX |
T. Rowe Price Retirement 2010 Fund—Advisor Class | PARAX |
T. Rowe Price Retirement 2010 Fund—R Class | RRTAX |
7
T. Rowe Price Retirement 2015 Fund | TRRGX |
T. Rowe Price Retirement 2015 Fund—Advisor Class | PARHX |
T. Rowe Price Retirement 2015 Fund—R Class | RRTMX |
T. Rowe Price Retirement 2020 Fund | TRRBX |
T. Rowe Price Retirement 2020 Fund—Advisor Class | PARBX |
T. Rowe Price Retirement 2020 Fund—R Class | RRTBX |
T. Rowe Price Retirement 2025 Fund | TRRHX |
T. Rowe Price Retirement 2025 Fund—Advisor Class | PARJX |
T. Rowe Price Retirement 2025 Fund—R Class | RRTNX |
T. Rowe Price Retirement 2030 Fund | TRRCX |
T. Rowe Price Retirement 2030 Fund—Advisor Class | PARCX |
T. Rowe Price Retirement 2030 Fund—R Class | RRTCX |
T. Rowe Price Retirement 2035 Fund | TRRJX |
T. Rowe Price Retirement 2035 Fund—Advisor Class | PARKX |
T. Rowe Price Retirement 2035 Fund—R Class | RRTPX |
T. Rowe Price Retirement 2040 Fund | TRRDX |
T. Rowe Price Retirement 2040 Fund—Advisor Class | PARDX |
T. Rowe Price Retirement 2040 Fund—R Class | RRTDX |
T. Rowe Price Retirement 2045 Fund | TRRKX |
T. Rowe Price Retirement 2045 Fund—Advisor Class | PARLX |
T. Rowe Price Retirement 2045 Fund—R Class | RRTRX |
T. Rowe Price Retirement 2050 Fund | TRRMX |
T. Rowe Price Retirement 2050 Fund—Advisor Class | PARFX |
T. Rowe Price Retirement 2050 Fund—R Class | RRTFX |
T. Rowe Price Retirement 2055 Fund | TRRNX |
T. Rowe Price Retirement 2055 Fund—Advisor Class | PAROX |
T. Rowe Price Retirement 2055 Fund—R Class | RRTVX |
T. Rowe Price Retirement 2060 Fund | TRRLX |
T. Rowe Price Retirement 2060 Fund—Advisor Class | TRRYX |
T. Rowe Price Retirement 2060 Fund—R Class | TRRZX |
T. Rowe Price Retirement Balanced Fund | TRRIX |
T. Rowe Price Retirement Balanced Fund—Advisor Class | PARIX |
T. Rowe Price Retirement Balanced Fund—R Class | RRTIX |
T. Rowe Price Retirement I 2005 Fund—I Class | TRPFX |
T. Rowe Price Retirement I 2010 Fund—I Class | TRPAX |
T. Rowe Price Retirement I 2015 Fund—I Class | TRFGX |
T. Rowe Price Retirement I 2020 Fund—I Class | TRBRX |
T. Rowe Price Retirement I 2025 Fund—I Class | TRPHX |
T. Rowe Price Retirement I 2030 Fund—I Class | TRPCX |
T. Rowe Price Retirement I 2035 Fund—I Class | TRPJX |
T. Rowe Price Retirement I 2040 Fund—I Class | TRPDX |
T. Rowe Price Retirement I 2045 Fund—I Class | TRPKX |
T. Rowe Price Retirement I 2050 Fund—I Class | TRPMX |
T. Rowe Price Retirement I 2055 Fund—I Class | TRPNX |
8
T. Rowe Price Retirement I 2060 Fund—I Class | TRPLX |
T. Rowe Price Retirement Balanced I Fund—I Class | TRPTX |
T. Rowe Price Retirement Income 2020 Fund | TRLAX |
T. Rowe Price Target 2005 Fund | TRARX |
T. Rowe Price Target 2005 Fund—Advisor Class | PANRX |
T. Rowe Price Target 2005 Fund—I Class | TFRRX |
T. Rowe Price Target 2010 Fund | TRROX |
T. Rowe Price Target 2010 Fund—Advisor Class | PAERX |
T. Rowe Price Target 2010 Fund—I Class | TORFX |
T. Rowe Price Target 2015 Fund | TRRTX |
T. Rowe Price Target 2015 Fund—Advisor Class | PAHRX |
T. Rowe Price Target 2015 Fund—I Class | TTRTX |
T. Rowe Price Target 2020 Fund | TRRUX |
T. Rowe Price Target 2020 Fund—Advisor Class | PAIRX |
T. Rowe Price Target 2020 Fund—I Class | TTURX |
T. Rowe Price Target 2025 Fund | TRRVX |
T. Rowe Price Target 2025 Fund—Advisor Class | PAJRX |
T. Rowe Price Target 2025 Fund—I Class | TRVVX |
T. Rowe Price Target 2030 Fund | TRRWX |
T. Rowe Price Target 2030 Fund—Advisor Class | PAKRX |
T. Rowe Price Target 2030 Fund—I Class | TWRRX |
T. Rowe Price Target 2035 Fund | RPGRX |
T. Rowe Price Target 2035 Fund—Advisor Class | PATVX |
T. Rowe Price Target 2035 Fund—I Class | TPGPX |
T. Rowe Price Target 2040 Fund | TRHRX |
T. Rowe Price Target 2040 Fund—Advisor Class | PAHHX |
T. Rowe Price Target 2040 Fund—I Class | TRXRX |
T. Rowe Price Target 2045 Fund | RPTFX |
T. Rowe Price Target 2045 Fund—Advisor Class | PAFFX |
T. Rowe Price Target 2045 Fund—I Class | TRFWX |
T. Rowe Price Target 2050 Fund | TRFOX |
T. Rowe Price Target 2050 Fund—Advisor Class | PAOFX |
T. Rowe Price Target 2050 Fund—I Class | TOORX |
T. Rowe Price Target 2055 Fund | TRFFX |
T. Rowe Price Target 2055 Fund—Advisor Class | PAFTX |
T. Rowe Price Target 2055 Fund—I Class | TRPPX |
T. Rowe Price Target 2060 Fund | TRTFX |
T. Rowe Price Target 2060 Fund—Advisor Class | TRTGX |
T. Rowe Price Target 2060 Fund—I Class | TTOIX |
T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC. | |
T. Rowe Price Science & Technology Fund | PRSCX |
T. Rowe Price Science & Technology Fund—Advisor Class | PASTX |
T. Rowe Price Science & Technology Fund—I Class | TSNIX |
9
T. ROWE PRICE SHORT-TERM BOND FUND, INC. | |
T. Rowe Price Short-Term Bond Fund | PRWBX |
T. Rowe Price Short-Term Bond Fund—Advisor Class | PASHX |
T. Rowe Price Short-Term Bond Fund—I Class | TBSIX |
T. Rowe Price Ultra Short-Term Bond Fund | TRBUX |
T. Rowe Price Ultra Short-Term Bond Fund—I Class | TRSTX |
T. ROWE PRICE SMALL-CAP STOCK FUND, INC. | |
T. Rowe Price Small-Cap Stock Fund | OTCFX |
T. Rowe Price Small-Cap Stock Fund—Advisor Class | PASSX |
T. Rowe Price Small-Cap Stock Fund—I Class | OTIIX |
T. Rowe Price Small-Cap Stock Fund—Z Class | TRZZX |
T. ROWE PRICE SMALL-CAP VALUE FUND, INC. | |
T. Rowe Price Small-Cap Value Fund | PRSVX |
T. Rowe Price Small-Cap Value Fund—Advisor Class | PASVX |
T. Rowe Price Small-Cap Value Fund—I Class | PRVIX |
T. Rowe Price Small-Cap Value Fund—Z Class | TRZVX |
T. ROWE PRICE SPECTRUM FUND, INC. (“SPECTRUM FUNDS”) |
|
Spectrum Growth Fund | PRSGX |
Spectrum Income Fund | RPSIX |
Spectrum International Fund | PSILX |
T. ROWE PRICE SPECTRUM FUNDS II, INC. (“SPECTRUM FUNDS II”) (FORMERLY T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.) |
|
T. Rowe Price Spectrum Conservative Allocation Fund (formerly T. Rowe Price Personal Strategy Income Fund) | PRSIX |
T. Rowe Price Spectrum Conservative Allocation Fund—I Class (formerly T. Rowe Price Personal Strategy Income Fund—I Class) | PPIPX |
T. Rowe Price Spectrum Moderate Allocation Fund (formerly T. Rowe Price Personal Strategy Balanced Fund) | TRPBX |
T. Rowe Price Spectrum Moderate Allocation Fund—I Class (formerly T. Rowe Price Personal Strategy Balanced Fund—I Class) | TRPAX |
T. Rowe Price Spectrum Moderate Growth Allocation Fund (formerly T. Rowe Price Personal Strategy Growth Fund) | TRSGX |
T. Rowe Price Spectrum Moderate Growth Allocation Fund—I Class (formerly T. Rowe Price Personal Strategy Growth Fund—I Class) | TGIPX |
T. ROWE PRICE STATE TAX-FREE FUNDS, INC. |
|
T. Rowe Price California Tax-Free Bond Fund | PRXCX |
T. Rowe Price California Tax-Free Bond Fund—I Class | TCFEX |
T. Rowe Price California Tax-Free Money Fund | PCTXX |
T. Rowe Price California Tax-Free Money Fund—I Class | TCBXX |
T. Rowe Price Georgia Tax-Free Bond Fund | GTFBX |
T. Rowe Price Georgia Tax-Free Bond Fund—I Class | TBGAX |
T. Rowe Price Maryland Short-Term Tax-Free Bond Fund | PRMDX |
T. Rowe Price Maryland Short-Term Tax-Free Bond Fund—I Class | TRMUX |
T. Rowe Price Maryland Tax-Free Bond Fund | MDXBX |
T. Rowe Price Maryland Tax-Free Bond Fund—I Class | TFBIX |
T. Rowe Price Maryland Tax-Free Money Fund | TMDXX |
T. Rowe Price Maryland Tax-Free Money Fund—I Class | TWNXX |
10
T. Rowe Price New Jersey Tax-Free Bond Fund | NJTFX |
T. Rowe Price New Jersey Tax-Free Bond Fund—I Class | TRJIX |
T. Rowe Price New York Tax-Free Bond Fund | PRNYX |
T. Rowe Price New York Tax-Free Bond Fund—I Class | TRYIX |
T. Rowe Price New York Tax-Free Money Fund | NYTXX |
T. Rowe Price New York Tax-Free Money Fund—I Class | TRNXX |
T. Rowe Price Virginia Tax-Free Bond Fund | PRVAX |
T. Rowe Price Virginia Tax-Free Bond Fund—I Class | TFBVX |
T. ROWE PRICE SUMMIT FUNDS, INC. (“SUMMIT INCOME FUNDS”) |
|
T. Rowe Price Cash Reserves Fund | TSCXX |
T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC. (“SUMMIT MUNICIPAL FUNDS”) |
|
T. Rowe Price Summit Municipal Income Fund | PRINX |
T. Rowe Price Summit Municipal Income Fund—Advisor Class | PAIMX |
T. Rowe Price Summit Municipal Income Fund—I Class | PRIMX |
T. Rowe Price Summit Municipal Intermediate Fund | PRSMX |
T. Rowe Price Summit Municipal Intermediate Fund—Advisor Class | PAIFX |
T. Rowe Price Summit Municipal Intermediate Fund—I Class | PRTMX |
T. Rowe Price Summit Municipal Money Market Fund | TRSXX |
T. ROWE PRICE TAX-EFFICIENT FUNDS, INC. (“TAX-EFFICIENT FUNDS”) |
|
T. Rowe Price Tax-Efficient Equity Fund | PREFX |
T. Rowe Price Tax-Efficient Equity Fund—I Class | TEEFX |
T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC. | |
T. Rowe Price Tax-Exempt Money Fund | PTEXX |
T. Rowe Price Tax-Exempt Money Fund—I Class | TERXX |
T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC. | |
T. Rowe Price Tax-Free High Yield Fund | PRFHX |
T. Rowe Price Tax-Free High Yield Fund—Advisor Class | PATFX |
T. Rowe Price Tax-Free High Yield Fund—I Class | PTYIX |
T. ROWE PRICE TAX-FREE INCOME FUND, INC. | |
T. Rowe Price Tax-Free Income Fund | PRTAX |
T. Rowe Price Tax-Free Income Fund—Advisor Class | PATAX |
T. Rowe Price Tax-Free Income Fund—I Class | TFILX |
T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC. | |
T. Rowe Price Tax-Free Short-Intermediate Fund | PRFSX |
T. Rowe Price Tax-Free Short-Intermediate Fund—Advisor Class | PATIX |
T. Rowe Price Tax-Free Short-Intermediate Fund—I Class | TTSIX |
T. ROWE PRICE TOTAL RETURN FUND, INC. | |
T. Rowe Price Total Return Fund | PTTFX |
T. Rowe Price Total Return Fund—Advisor Class | PTATX |
T. Rowe Price Total Return Fund—I Class | PTKIX |
T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC. | |
T. Rowe Price U.S. Bond Enhanced Index Fund | PBDIX |
11
T. ROWE PRICE U.S. EQUITY RESEARCH FUND, INC. (FORMERLY T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.) | |
T. Rowe Price U.S. Equity Research Fund (formerly T. Rowe Price Capital Opportunity Fund) | PRCOX |
T. Rowe Price U.S. Equity Research Fund—Advisor Class (formerly T. Rowe Price Capital Opportunity Fund—Advisor Class) | PACOX |
T. Rowe Price U.S. Equity Research Fund—I Class (formerly T. Rowe Price Capital Opportunity Fund—I Class) | PCCOX |
T. Rowe Price U.S. Equity Research Fund—R Class (formerly T. Rowe Price Capital Opportunity Fund—R Class) | RRCOX |
T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC. | |
T. Rowe Price U.S. Large-Cap Core Fund | TRULX |
T. Rowe Price U.S. Large-Cap Core Fund—Advisor Class | PAULX |
T. Rowe Price U.S. Large-Cap Core Fund—I Class | RCLIX |
T. Rowe Price U.S. Large-Cap Core Fund—Z Class | TRZLX |
T. ROWE PRICE U.S. TREASURY FUNDS, INC. (“U.S. TREASURY FUNDS”) |
|
U.S. Treasury Intermediate Fund | PRTIX |
U.S. Treasury Intermediate Fund—I Class | PRKIX |
U.S. Treasury Long-Term Fund | PRULX |
U.S. Treasury Long-Term Fund—I Class | PRUUX |
U.S. Treasury Long-Term Fund—Z Class | TRZUX |
U.S. Treasury Money Fund | PRTXX |
U.S. Treasury Money Fund—I Class | TRGXX |
U.S. Treasury Money Fund—Z Class | TRZXX |
T. ROWE PRICE VALUE FUND, INC. | |
T. Rowe Price Value Fund | TRVLX |
T. Rowe Price Value Fund—Advisor Class | PAVLX |
T. Rowe Price Value Fund—I Class | TRPIX |
T. Rowe Price Value Fund—Z Class | TRZAX |
Mailing Address:
T. Rowe Price Investment Services, Inc.
100
East Pratt Street
Baltimore, Maryland 21202
1-800-638-5660
This SAI is not a prospectus but should be read in conjunction with the appropriate current fund prospectus, which may be obtained from T. Rowe Price Investment Services, Inc. (“Investment Services”).
Each fund’s financial statements for its most recent fiscal period and the Report of Independent Registered Public Accounting Firm are included in each fund’s annual or semiannual report and incorporated by reference into this SAI. China Evolution Equity Fund, China Evolution Equity Fund—I Class, Dynamic Credit Fund, Dynamic Credit Fund—I Class, Dynamic Global Bond Fund—Z Class, Emerging Markets Bond Fund—Z Class, Emerging Markets Discovery Stock Fund—Z Class, Emerging Markets Stock Fund—Z Class, Equity Index 500 Fund—Z Class, Floating Rate Fund—Z Class, Global Value Equity Fund (Investor Class), Growth Stock Fund—Z Class, High Yield Fund—Z Class, Institutional Floating Rate Fund—Z Class, Institutional High Yield Fund—Z Class, International Bond Fund (USD Hedged)—Z Class, International Stock Fund—Z Class, International Value Equity—Z Class, Large-Cap Growth Fund (Investor Class), Large-Cap Value Fund (Investor Class), Limited Duration Inflation Focused Bond Fund—Z Class, Mid-Cap Growth Fund—Z Class, Mid-Cap Index Fund—Z Class, Mid-Cap Value Fund—Z Class, New Horizons Fund—Z Class, New Income Fund—Z Class, Overseas Stock Fund—Z Class, Real Assets Fund—Z Class, Short-Term Government Fund, Small-Cap Stock Fund—Z Class, Small-Cap Value Fund—Z Class, U.S. Large-Cap Core Fund—Z Class, U.S. Treasury Long-Term
12
Fund—Z Class, U.S. Treasury Money Fund—Z Class, and Value Fund—Z Class, have not been in operation long enough to have complete financial statements.
If you would like a prospectus or an annual or semiannual shareholder report for a fund, please visit troweprice.com or call 1-800-638-5660 and it will be sent to you at no charge. Please read this material carefully.
13
PART I – TABLE OF CONTENTS
Page
Page
References to the following are as indicated:
Fitch Ratings, Inc. (“Fitch”)
Internal Revenue Code of 1986, as amended (“Code”)
Internal Revenue Service (“IRS”)
Investment Company Act of 1940, as amended (“1940 Act”)
Moody’s Investors Service, Inc. (“Moody’s”)
Securities Act of 1933, as amended (“1933 Act”)
Securities and Exchange Commission (“SEC”)
Securities Exchange Act of 1934, as amended (“1934 Act”)
S&P Global Ratings (“S&P”)
T. Rowe Price Associates, Inc. (“T. Rowe Price” or “Price Associates”)
T. Rowe Price Hong Kong Limited (“Price Hong Kong”)
T. Rowe Price Japan, Inc. (“Price Japan”)
T. Rowe Price International Ltd (“T. Rowe Price International” or “Price International Ltd”)
T. Rowe Price Singapore Private Ltd. (“Price Singapore”)
While many Price Funds are offered in more than one share class, not all funds are offered in the share classes described below. The front cover of each Price Fund’s prospectus indicates which share classes are available for the fund.
Investor Class
The Investor Class is available to individual investors, institutions, and a wide variety of other types of investors. The Investor Class may be purchased directly through T. Rowe Price or through a financial intermediary. A Price Fund (other than an institutional fund) that does not indicate a specific share class after its name is considered to be the Investor Class of that fund.
I Class
The I Class generally requires a $1 million initial investment minimum, although the minimum generally is waived for financial intermediaries, retirement plans, and certain institutional client accounts for which T. Rowe Price or its affiliate has discretionary investment authority. I Class shares are generally designed to be sold to retirement plans, financial intermediaries, and other institutional investors, as well as individuals meeting the investment minimum or other specific criteria. The I Class may be purchased directly through T. Rowe Price or through a financial intermediary.
Advisor Class
The Advisor Class is designed to be sold through various financial intermediaries, such as broker-dealers, banks, insurance companies, retirement plan recordkeepers, and financial advisors. The Advisor Class must be purchased through an eligible intermediary (except for certain retirement plans held directly with T. Rowe Price). The Advisor Class requires an agreement between the financial intermediary and T. Rowe Price to be executed prior to investment.
R Class
The R Class is designed to be sold only through various third-party intermediaries that offer employer-sponsored defined contribution retirement plans and certain other accounts, including brokers, dealers, banks, insurance companies, retirement plan recordkeepers, and others. The R Class must be purchased through an eligible intermediary (except for
14
certain retirement plans held directly with T. Rowe Price). The R Class requires an agreement between the financial intermediary and T. Rowe Price to be executed prior to investment.
Institutional Class
Most of the T. Rowe Price institutional funds are available only in a single share class (referred to as the “Institutional Class”). The Institutional Class (other than their F Class shares) generally requires a $1,000,000 initial investment minimum, although the minimum may be waived for retirement plans, financial intermediaries maintaining omnibus accounts, and certain other accounts. The Institutional Class is designed for institutional investors, which typically include, but are not limited to: corporations, endowments and foundations, charitable trusts, investment companies and other pooled vehicles, defined benefit and defined contribution retirement plans, broker-dealers, registered investment advisers, banks and bank trust programs, and Section 529 college savings plans. Institutional funds may be purchased directly through T. Rowe Price or through a financial intermediary.
F Class
The F Class is a separate share class of certain institutional funds and is designed to be sold only through financial advisors and certain third-party intermediaries, including brokers, banks, insurance companies, retirement plan recordkeepers, and other financial intermediaries that provide various distribution and administrative services. F Class shares are not intended to be offered by intermediaries through a mutual fund “supermarket” platform. The F Class cannot be purchased directly through T. Rowe Price and must be purchased through an intermediary.
Z Class
The Z Class is only available to funds advised by T. Rowe Price and other advisory clients of T. Rowe Price or its affiliates that are subject to a contractual fee for investment management services. The Z Class does not impose sales charges and does not make any administrative fee payments or 12b-1 fee payments to financial intermediaries.
Mid-Cap Index Fund, Multi-Sector Account Portfolios, Small-Cap Index Fund, and TRP Reserve Funds
These funds are not available for direct purchase by members of the public. Shares of these funds may only be purchased by or on behalf of mutual funds, Section 529 college savings plans, or certain institutional client accounts for which T. Rowe Price or one of its affiliates has discretionary investment authority.
PART I
Below is a table showing the prospectus and shareholder report dates for each fund. Each prospectus and shareholder report includes information on all share classes available for a fund. The table also lists each fund’s category, which should be used to identify groups of funds that are referenced throughout this SAI. The prospectus date shown for each fund reflects the date that the prospectus will be annually updated once the fund has been in operation at its fiscal year-end.
Fund | Fund Category | Fiscal | Annual Report | Semiannual | Prospectus |
Africa & Middle East Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Asia Opportunities Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Balanced Fund | Asset Allocation | Dec 31 | Dec 31 | June 30 | May 1 |
Blue Chip Growth Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
California Tax-Free Bond Fund | State Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
California Tax-Free Money Fund | State Tax-Free Money | Feb 28 | Feb 28 | Aug 30 | July 1 |
Capital Appreciation Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Cash Reserves Fund | Taxable Money | Oct 31 | Oct 31 | Apr 30 | March 1 |
China Evolution Equity Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Communications & Technology Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Corporate Income Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Credit Opportunities Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Diversified Mid-Cap Growth Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Dividend Growth Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Dynamic Credit Fund | Taxable Bond | Dec 31 | Dec 31 | June 30 | May 1 |
Dynamic Global Bond Fund | Taxable Bond | Dec 31 | Dec 31 | June 30 | May 1 |
Emerging Europe Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
15
Fund | Fund Category | Fiscal | Annual Report | Semiannual | Prospectus |
Emerging Markets Bond Fund | International Bond | Dec 31 | Dec 31 | June 30 | May 1 |
Emerging Markets Corporate Bond Fund | International Bond | Dec 31 | Dec 31 | June 30 | May 1 |
Emerging Markets Corporate Multi-Sector Account Portfolio | International Bond | Dec 31 | Dec 31 | June 30 | May 1 |
Emerging Markets Discovery Stock Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Emerging Markets Local Currency Bond Fund | International Bond | Dec 31 | Dec 31 | June 30 | May 1 |
Emerging Markets Local Multi-Sector Account Portfolio | International Bond | Dec 31 | Dec 31 | June 30 | May 1 |
Emerging Markets Stock Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Equity Income Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Equity Index 500 Fund | Index Equity | Dec 31 | Dec 31 | June 30 | May 1 |
European Stock Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Extended Equity Market Index Fund | Index Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Financial Services Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Floating Rate Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Floating Rate Multi-Sector Account Portfolio | Taxable Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
Georgia Tax-Free Bond Fund | State Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
Global Allocation Fund | Asset Allocation | Oct 31 | Oct 31 | Apr 30 | March 1 |
Global Consumer Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Global Growth Stock Fund | Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Global High Income Bond Fund | Taxable Bond | Dec 31 | Dec 31 | June 30 | May 1 |
Global Industrials Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Global Multi-Sector Bond Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Global Real Estate Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Global Stock Fund | Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Global Technology Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Global Value Equity Fund | Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
GNMA Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Government Money Fund | Taxable Money | May 31 | May 31 | Nov 30 | Oct 1 |
Government Reserve Fund | Taxable Money | May 31 | May 31 | Nov 30 | Oct 1 |
Growth & Income Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Growth Stock Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Health Sciences Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
High Yield Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
High Yield Multi-Sector Account Portfolio | Taxable Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
Inflation Protected Bond Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Institutional Africa & Middle East Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Institutional Cash Reserves Fund | Taxable Money | May 31 | May 31 | Nov 30 | Oct 1 |
Institutional Core Plus Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Institutional Emerging Markets Bond Fund | International Bond | Dec 31 | Dec 31 | June 30 | May 1 |
Institutional Emerging Markets Equity Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Institutional Floating Rate Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Institutional High Yield Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Institutional International Core Equity Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Institutional International Disciplined Equity Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Institutional International Growth Equity Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Institutional Large-Cap Core Growth Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
16
Fund | Fund Category | Fiscal | Annual Report | Semiannual | Prospectus |
Institutional Long Duration Credit Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Institutional Mid-Cap Equity Growth Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Institutional Small-Cap Stock Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Intermediate Tax-Free High Yield Fund | Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
International Bond Fund | International Bond | Dec 31 | Dec 31 | June 30 | May 1 |
International Bond Fund (USD Hedged) | International Bond | Dec 31 | Dec 31 | June 30 | May 1 |
International Disciplined Equity Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
International Discovery Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
International Equity Index Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
International Stock Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
International Value Equity Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Investment-Grade Corporate Multi-Sector Account Portfolio | Taxable Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
Japan Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Latin America Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
Large-Cap Growth Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Large-Cap Value Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Limited Duration Inflation Focused Bond Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Maryland Short-Term Tax-Free Bond Fund | State Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
Maryland Tax-Free Bond Fund | State Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
Maryland Tax-Free Money Fund | State Tax-Free Money | Feb 28 | Feb 28 | Aug 30 | July 1 |
Mid-Cap Growth Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Mid-Cap Index Fund | Index Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Mid-Cap Value Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Mortgage-Backed Securities Multi-Sector Account Portfolio | Taxable Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
Multi-Strategy Total Return Fund | Asset Allocation | Oct 31 | Oct 31 | Apr 30 | March 1 |
New America Growth Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
New Asia Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
New Era Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
New Horizons Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
New Income Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
New Jersey Tax-Free Bond Fund | State Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
New York Tax-Free Bond Fund | State Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
New York Tax-Free Money Fund | State Tax-Free Money | Feb 28 | Feb 28 | Aug 30 | July 1 |
Overseas Stock Fund | International Equity | Oct 31 | Oct 31 | Apr 30 | March 1 |
QM Global Equity Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
QM U.S. Small & Mid-Cap Core Equity Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
QM U.S. Small-Cap Growth Equity Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
QM U.S. Value Equity Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Real Assets Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Real Estate Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Retirement 2005 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2010 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2015 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2020 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2025 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2030 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2035 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2040 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2045 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
17
Fund | Fund Category | Fiscal | Annual Report | Semiannual | Prospectus |
Retirement 2050 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2055 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2060 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement Balanced Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2005 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2010 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2015 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2020 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2025 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2030 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2035 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2040 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2045 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2050 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2055 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement 2060 Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement Balanced Fund—I Class | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Retirement Income 2020 Fund | Asset Allocation | Dec 31 | Dec 31 | June 30 | May 1 |
Science & Technology Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Short-Term Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Short-Term Bond Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Short-Term Government Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Small-Cap Index Fund | Index Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Small-Cap Stock Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Small-Cap Value Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Spectrum Conservative Allocation Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Spectrum Growth Fund | Asset Allocation | Dec 31 | Dec 31 | June 30 | May 1 |
Spectrum Income Fund | Asset Allocation | Dec 31 | Dec 31 | June 30 | May 1 |
Spectrum International Fund | Asset Allocation | Dec 31 | Dec 31 | June 30 | May 1 |
Spectrum Moderate Allocation Fund | Asset Allocation | Dec 31 | Dec 31 | June 30 | May 1 |
Spectrum Moderate Growth Allocation Fund | Asset Allocation | Dec 31 | Dec 31 | June 30 | May 1 |
Summit Municipal Income Fund | Tax-Free Bond | Oct 31 | Oct 31 | Apr 30 | March 1 |
Summit Municipal Intermediate Fund | Tax-Free Bond | Oct 31 | Oct 31 | Apr 30 | March 1 |
Summit Municipal Money Market Fund | Tax-Free Money | Oct 31 | Oct 31 | Apr 30 | March 1 |
Target 2005 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2010 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2015 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2020 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2025 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2030 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2035 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2040 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2045 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2050 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2055 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Target 2060 Fund | Asset Allocation | May 31 | May 31 | Nov 30 | Oct 1 |
Tax-Efficient Equity Fund | Equity | Feb 28 | Feb 28 | Aug 30 | July 1 |
Tax-Exempt Money Fund | Tax-Free Money | Feb 28 | Feb 28 | Aug 30 | July 1 |
Tax-Free High Yield Fund | Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
Tax-Free Income Fund | Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
Tax-Free Short-Intermediate Fund | Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
Total Equity Market Index Fund | Index Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Total Return Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
18
Fund | Fund Category | Fiscal | Annual Report | Semiannual | Prospectus |
Treasury Reserve Fund | Taxable Money | May 31 | May 31 | Nov 30 | Oct 1 |
U.S. Bond Enhanced Index Fund | Index Bond | Oct 31 | Oct 31 | Apr 30 | March 1 |
U.S. Equity Research Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
U.S. High Yield Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
U.S. Large-Cap Core Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
U.S. Treasury Intermediate Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
U.S. Treasury Long-Term Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
U.S. Treasury Money Fund | Taxable Money | May 31 | May 31 | Nov 30 | Oct 1 |
Ultra Short-Term Bond Fund | Taxable Bond | May 31 | May 31 | Nov 30 | Oct 1 |
Value Fund | Equity | Dec 31 | Dec 31 | June 30 | May 1 |
Virginia Tax-Free Bond Fund | State Tax-Free Bond | Feb 28 | Feb 28 | Aug 30 | July 1 |
The officers and directors of the Price Funds are listed on the following pages. Unless otherwise noted, the address of each officer and director is 100 East Pratt Street, Baltimore, Maryland 21202.
Each fund is overseen by a Board of Directors (“Board”) that meets regularly to review a wide variety of matters affecting or potentially affecting the funds, including performance, investment programs, compliance matters, advisory fees and expenses, service providers, and business and regulatory affairs. The Boards elect the funds’ officers and are responsible for performing various duties imposed on them by the 1940 Act, the laws of Maryland, and other applicable laws. At least 75% of each Board’s members are considered to be independent, i.e, not “interested persons” as defined in Section 2(a)(19) of the 1940 Act, of the Boards of T. Rowe Price and its affiliates. The directors who are also employees or officers of T. Rowe Price are considered to be inside or interested directors because of their relationships with T. Rowe Price and its affiliates. Each inside director and officer (except as indicated in the tables setting forth the directors’ and officers’ principal occupations during the past five years) has been an employee of T. Rowe Price or its affiliates for five or more years. The Boards held five regularly scheduled formal meetings during calendar year 2019. Although the Boards have direct responsibility over various matters (such as approval of advisory contracts and review of fund performance), each Board also exercises certain of its oversight responsibilities through several committees that it has established and which report back to the full Boards. The Boards believe that a committee structure is an effective means to permit directors to focus on particular operations or issues affecting the funds, including risk oversight. Each Board currently has three standing committees, a Joint Nominating and Governance Committee, a Joint Audit Committee, and an Executive Committee, which are described in greater detail in the following paragraphs.
Robert J. Gerrard, Jr., an independent director, serves as the Chairman of the Board of each Price Fund. The Chairman presides at all shareholder meetings, meetings of the Boards, and all executive sessions of the independent directors. He also reviews and provides guidance on Board meeting agendas and materials, and typically represents the independent directors in discussions with T. Rowe Price management. Each fund’s Board has determined that its leadership and committee structure is appropriate because the Board believes that it sets the proper tone for the relationship between the fund, on the one hand, and T. Rowe Price or its affiliates and the fund’s other principal service providers, on the other, and facilitates the exercise of the Board’s independent judgment in evaluating and managing the relationships. In addition, the structure efficiently allocates responsibility among committees and the full Board. The same independent directors currently serve on the Boards of all of the Price Funds. This approach is designed to provide effective governance by exposing the independent directors to a wider range of business issues and market trends, allowing the directors to better share their knowledge, background, and experience and permitting the Boards to operate more efficiently, particularly with respect to matters common to all Price Funds.
The Joint Nominating and Governance Committee consists of all of the independent directors of the funds, and is responsible for, among other things, seeking, reviewing, and selecting candidates to fill independent director vacancies on each fund’s Board; periodically evaluating the compensation payable to the independent directors; and performing certain functions with respect to the governance of the funds. The Chairman of the Board of the Price Funds serves as chairman of the committee. The committee will consider written recommendations from shareholders for possible nominees for independent directors. Nominees will be considered based on their ability to review critically, evaluate, question, and
19
discuss information provided to them; to interact effectively with the funds’ management and counsel and the various service providers to the funds; and to exercise reasonable business judgment in the performance of their duties as directors. The Joint Nominating and Governance Committee seeks to ensure that the Board is comprised of independent directors who bring diverse perspectives to the Board, including diverse experiences, backgrounds, race, ethnicity, gender, qualifications, skills, thoughts, viewpoints, and other qualities. Nominees will also be considered based on their independence from T. Rowe Price and other principal service providers. Other than executive sessions in connection with Board meetings, the Joint Nominating and Governance Committee formally met one time in 2019.
The Joint Audit Committee consists of only independent directors. The current members of the committee are Teresa Bryce Bazemore, Ronald J. Daniels, Robert J. Gerrard, Jr., and John G. Schreiber. Ms. Bazemore serves as chairman of the committee and is considered an “audit committee financial expert,” as defined by the SEC. The Joint Audit Committee oversees the pricing processes for the Price Funds and holds three regular meetings during each fiscal year. Two of the meetings include the attendance of the independent registered public accounting firm of the Price Funds as the Joint Audit Committee reviews: (1) the services provided; (2) the findings of the most recent audits; (3) management’s response to the findings of the most recent audits; (4) the scope of the audits to be performed; (5) the accountants’ fees; (6) the qualifications, independence, and performance of the independent registered public accounting firm; and (7) any accounting questions relating to particular areas of the Price Funds’ operations, accounting service provider performance, or the operations of parties dealing with the Price Funds, as circumstances indicate. A third meeting is devoted primarily to a review of the risk management program of the funds’ investment adviser. The Joint Audit Committee met three times in 2019.
The Executive Committee, which consists of each fund’s interested directors, has been authorized by the Boards to exercise all powers of the Boards of the funds in the intervals between regular meetings of the Boards, except for those powers prohibited by statute from being delegated. All actions of the Executive Committee must be approved in advance by one independent director and reviewed after the fact by the full Board. The Executive Committee for each fund does not hold regularly scheduled meetings. The Executive Committee was not called upon to take any action on behalf of any funds during 2019.
From time to time, the independent directors may create a special committee (“Special Committee”) or an ad hoc working group comprised of independent directors, whose purpose is to review certain limited topics that require in-depth consideration outside of the Boards’ regular review.
Like other mutual funds, the Price Funds are subject to various risks, including investment, compliance, operational, and valuation risks, among others. The Boards oversee risk as part of their oversight of the funds. Risk oversight is addressed as part of various Board and committee activities. The Board, directly or through its committees, interacts with and reviews reports from, among others, the investment adviser or its affiliates, the funds’ Chief Compliance Officer, the funds’ independent registered public accounting firm, legal counsel, and internal auditors for T. Rowe Price or its affiliates, as appropriate, regarding risks faced by the funds and the risk management programs of the investment adviser and certain other service providers. Also, the Joint Audit Committee receives periodic reports from the Chief Risk Officer and members of the adviser’s Risk and Operational Steering Committee on the significant risks inherent to the adviser’s business, including aggregate investment risks, reputational risk, business continuity risk, technology and cyber-security risk, and operational risk. The actual day-to-day risk management functions with respect to the funds are subsumed within the responsibilities of the investment adviser, its affiliates that serve as investment subadvisers to the funds, and other service providers (depending on the nature of the risk) that carry out the funds’ investment management and business affairs. Although the risk management policies of T. Rowe Price and its affiliates, and the funds’ other service providers, are reasonably designed to be effective, those policies and their implementation vary among service providers over time, and there is no guarantee that they will always be effective.
Each director’s experience, qualifications, attributes, or skills, on an individual basis and in combination with those of the other directors, have led to the conclusion that each director should serve on the Boards of the Price Funds. Attributes common to all directors include the ability to review critically, evaluate, question, and discuss information provided to them; to interact effectively with the funds’ management and counsel and the various service providers to the funds; and to exercise reasonable business judgment in the performance of their duties as directors. In addition, the actual service and commitment of the directors during their tenure on the funds’ Boards is taken into consideration in concluding that each should continue to serve. A director’s ability to perform his or her duties effectively may have been attained through his or her educational background or professional training; business, consulting, public service, or academic positions; experience
20
from service as a director of the Price Funds, public companies, nonprofit entities, or other organizations; or other experiences. Each director brings a diverse perspective to the Boards.
Set forth below is a brief discussion of the specific experience, qualifications, attributes, or skills of each current director, as well as former directors who served on the Board during 2019, that led to the conclusion that he or she should serve as a director.
Teresa Bryce Bazemore has more than 25 years of experience as a senior executive in the mortgage banking field, including building both mortgage insurance and services businesses. From July 2008 through April 2017, Ms. Bazemore served as the President of Radian Guaranty where she oversaw the strategic planning, business development, and operations of the mortgage insurance business line. Prior to Radian Guaranty, she was Senior Vice President, General Counsel, and Secretary for Nexstar Financial Corporation, and General Counsel of the mortgage banking line of business at Bank of America. Ms. Bazemore currently serves on the Board of Directors of Chimera Investment Corporation, Public Media Company (non-profit), University of Virginia Foundation (non-profit) and on the Advisory Board of the University of Virginia Center for Politics. She has been an independent director of the Price Funds since January 2018 and became the chairman of the Joint Audit Committee in August 2019.
Ronald J. Daniels is the 14th president of Johns Hopkins University, a position he has held since 2009. In that role, he serves as the chair of the Executive Committee of Johns Hopkins Medicine and is a professor in the Department of Political Science. Previously, he was provost and professor of law at the University of Pennsylvania and dean and James M. Tory Professor of Law at the University of Toronto. He has been an independent director of the Price Funds since January 2018 and he became a member of the Joint Audit Committee in August 2019.
Bruce W. Duncan has substantial experience in the field of commercial real estate. He currently serves as chairman of the Board of First Industrial Realty Trust, and he served as president and chief executive officer from January 2009 until September 2016 and chief executive officer until December 2016. In November 2018, Mr. Duncan became a senior advisor to KKR. In May 2016, Mr. Duncan became a member of the board of Boston Properties, and he is currently a member of the nominating and governance committee and is chairman of the compensation committee of Boston Properties. In September 2016, Mr. Duncan became a member of the board of Marriott International, Inc. and is currently a member of the audit committee of Marriott International, Inc. He has been an independent director of the Price Funds since October 2013; in September 2014, he became a member of the Joint Audit Committee until August 2019 and served as chairman of the Joint Audit Committee from July 2017 to August 2019.
Robert J. Gerrard, Jr. has served as Chairman of the Boards of all Price Funds since July 2018. He has been an independent director of certain Price Funds since 2012 (and all Price Funds since October 2013), and served as the Chairman of the Joint Audit Committee from September 2014 to July 2017. He became Chairman of the Price Funds in July 2018 and became a member of the Joint Audit Committee in August 2019. He has substantial legal and business experience in the industries relating to communications and interactive data services. He has served on the board and compensation committee for Syniverse Holdings and served as general counsel to Scripps Networks.
Paul F. McBride has served in various management and senior leadership roles with the Black & Decker Corporation and General Electric Company. He led businesses in the materials, industrial, and consumer durable segments, and has significant global experience. He serves on the advisory board of Vizzia Technologies as well as Gilman School and Bridges Baltimore. He has been an independent director of the Price Funds since October 2013 and served as a member of the Joint Audit Committee from September 2014 to August 2019.
David Oestreicher has served as an inside director of all Price Funds since July 2018. He is the chief legal counsel for T. Rowe Price and a member of the firm’s management committee. David serves as a member of the Board of Governors for the Investment Company Institute (ICI), and previously served as the chairman of the ICI’s international committee. He is on sabbatical from the Mutual Insurance Company Board of Governors, where he served as a member of its executive committee and chairman of its risk management committee. He also served on the board of the Investment Adviser Association and was a past chairman of its legal and regulatory committee. Before joining T. Rowe Price in 1997, Mr. Oestreicher was special counsel in the Division of Market Regulation with the SEC.
Cecilia E. Rouse has been an independent director of certain Price Funds since 2012 (and all Price Funds since October 2013) and served as a member of the Joint Audit Committee from September 2014 to August 2019. Dr. Rouse has extensive experience in the fields of higher education and economic research. She has served in a variety of roles at Princeton University, including as a dean, professor, and leader of economic research. She has also served on the boards of: MDRC, a
21
non-profit education and social policy organization dedicated to improving programs and policies that affect the poor; the National Bureau of Economic Research, a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals; the Council on Foreign Relations, a United States nonprofit think tank specializing in U.S. foreign policy and international affairs; and The Pennington School, an independent co-educational school. She is, or has been, a member of numerous entities, including the American Economic Association, National Academy of Education, and the Association of Public Policy and Management Policy Council.
John G. Schreiber has been an independent director of the Price Funds for more than 20 years and served as a member of the Joint Audit Committee until September 2015. He has significant experience investing in real estate transactions and brings substantial financial services and investment management experience to the Boards. He is the president of Centaur Capital Partners, Inc. and a retired partner and co-founder of Blackstone Real Estate Advisors. He previously served as chairman and chief executive officer of JMB Urban Development Co. and executive vice president of JMB Realty Corporation. Mr. Schreiber currently serves on the boards of JMB Realty Corporation, Brixmor Property Group, Hilton Worldwide, and is a trustee of Loyola University of Chicago. He is a past board member of Urban Shopping Centers, Inc., Host Hotels & Resorts, Inc., The Rouse Company, General Growth Properties, AMLI Residential Properties Trust, Blackstone Mortgage Trust, Invitation Homes, and Hudson Pacific Properties.
Robert W. Sharps has been an inside director of the domestic equity and international Price Funds since April 2017 and was appointed as an inside director of all other Price Funds effective January 1, 2019. Mr. Sharps served as the co-head of Global Equities at T. Rowe Price until February 2018, at which point he became the Head of Investments. He has served as the Group Chief Investment Officer for T. Rowe Price since April 2017. He is also a member of the T. Rowe Price Management Committee, Management Compensation Committee, International Steering Committee, Equity Steering Committee, Asset Allocation Committee, Product Strategy Committee, and Fixed Income Steering Committee, and he serves as the chair of the Investment Management Steering Committee. Prior to joining T. Rowe Price in 1997, Mr. Sharps was a senior consultant at KPMG Peat Marwick. In addition to his various offices held with T. Rowe Price and its affiliates, Mr. Sharps is a Chartered Financial Analyst.
In addition, the following tables provide biographical information for the directors, along with their principal occupations and any directorships they have held of public companies and other investment companies during the past five years.
Independent Directors(a)
Name, Year of Birth, and Number | Principal
Occupation(s) | Directorships of Public |
Teresa Bryce Bazemore 1959 185 portfolios | President, Radian Guaranty (2008 to 2017); Chief Executive Officer, Bazemore Consulting LLC (2018 to present) | Chimera Investment Corporation (2017 to present); Federal Home Loan Bank of Pittsburgh (2017 to February 2019) |
Ronald J. Daniels 1959 185 portfolios | President, The Johns Hopkins University(b) and Professor, Political Science Department, The Johns Hopkins University (2009 to present) | Lyndhurst Holdings (2015 to present); BridgeBio Pharma, Inc. (2020 to present) |
Bruce W. Duncan 1951 185 portfolios | Chief Executive Officer and Director (January 2009 to December 2016), Chairman of the Board (January 2016 to present), and President (January 2009 to September 2016), First Industrial Realty Trust, owner and operator of industrial properties; Chairman of the Board (2005 to September 2016) and Director (1999 to September 2016), Starwood Hotels & Resorts, a hotel and leisure company; Member, Investment Company Institute Board of Governors (2017 to December 2019); Member, Independent Directors Council Governing Board (2017 to December 2019); Senior Advisor, KKR (November 2018 to present) | First Industrial Realty Trust (January 2016 to present); Starwood Hotels & Resorts (1999 to September 2016); Boston Properties (May 2016 to present); Marriott International, Inc. (September 2016 to present) |
22
Name, Year of Birth, and Number | Principal
Occupation(s) | Directorships of Public |
Robert J. Gerrard, Jr. 1952 185 portfolios | Advisory Board Member, Pipeline Crisis/Winning Strategies, a collaborative working to improve opportunities for young African Americans (1997 to January 2016) Chairman of the Board, all funds (since July 2018) | None |
Paul F. McBride 1956 185 portfolios | Advisory Board Member, Vizzia Technologies (2015 to present); Board Member, Dunbar Armored (2012 to 2018) | None |
Cecilia E. Rouse, Ph.D. 1963 185 portfolios | Dean, Woodrow Wilson School (2012 to present); Professor and Researcher, Princeton University (1992 to present); Director, MDRC, a nonprofit education and social policy research organization (2011 to present); Member of National Academy of Education (2010 to present); Research Associate of Labor Studies Program at the National Bureau of Economic Research (2011 to 2015); Board Member of the National Bureau of Economic Research (2011 to present); Chair of Committee on the Status of Minority Groups in the Economic Profession of the American Economic Association (2012 to 2018); Vice President (2015 to 2016), Board Member, American Economic Association (2018 to present) | None |
John G. Schreiber 1946 185 portfolios | Owner/President, Centaur Capital Partners, Inc., a real estate investment company (1991 to present); Cofounder, Partner, and Cochairman of the Investment Committee, Blackstone Real Estate Advisors, L.P. (1992 to 2015); Director, Blackstone Mortgage Trust, a real estate finance company (2012 to 2016); Director and Chairman of the Board, Brixmor Property Group, Inc. (2013 to present); Director, Hilton Worldwide (2007 to present); Director, Hudson Pacific Properties (2014 to 2016); Director, Invitation Homes (2014 to 2017); Director, JMB Realty Corporation (1980 to present) | Blackstone Mortgage Trust (2012 to 2016); Hilton Worldwide (2007 to present); Brixmor Property Group, Inc. (2013 to present); Hudson Pacific Properties (2014 to 2016) |
(a) All information about the independent directors was current as of December 31, 2019, unless otherwise indicated, except for the number of portfolios overseen, which is current as of the date of this SAI.
(b) William J. Stromberg, President and Chief Executive Officer of T. Rowe Price Group, Inc. (the parent company of the Price Funds’ investment adviser), has served on the Board of Trustees of Johns Hopkins University since 2014.
Inside Directors(a)
The following persons are considered inside directors of the funds because they also serve as employees of T. Rowe Price or its affiliates. No more than two inside directors serve as directors of any fund.
The Boards invite nominations from the funds’ investment adviser for persons to serve as inside directors, and the Board reviews and approves these nominations. Each of the current inside directors is a senior executive officer of T. Rowe Price and T. Rowe Price Group, Inc., as well as certain of their affiliates. David Oestreicher has served as inside director of all Price Funds since July 2018. Robert W. Sharps has served as inside director of the domestic fixed income Price Funds since January 1, 2019, and all other Price Funds since April 1, 2017. For each fund, the two inside directors serve as members of the fund’s Executive Committee. In addition, specific experience with respect to the inside directors’ occupations and directorships of public companies and other investment companies are set forth in the following table.
23
Name, Year of Birth, and Number | Principal
Occupation(s) | Directorships of |
David Oestreicher 1967 185 portfolios | Chief Legal Officer, Vice President, and Secretary, T. Rowe Price Group, Inc.; Director, Vice President, and Secretary, T. Rowe Price Investment Services, Inc., T. Rowe Price Retirement Plan Services, Inc., T. Rowe Price Services, Inc., and T. Rowe Price Trust Company; Vice President and Secretary, T. Rowe Price, Price Hong Kong, and T. Rowe Price International; Vice President, Price Japan and Price Singapore Principal Executive Officer and Executive Vice President, all funds | None |
Robert W. Sharps, CFA, CPA 1971 185 portfolios | Vice President and Director, T. Rowe Price; Vice President, T. Rowe Price Group, Inc. and T. Rowe Price Trust Company President, Equity Funds; Vice President, Blue Chip Growth Fund, Global Funds, Growth Stock Fund, International Funds, Multi-Strategy Total Return Fund, New America Growth Funds, Retirement Funds, Spectrum Funds, and Spectrum Funds II | None |
(a) All information about the inside directors was current as of December 31, 2019, unless otherwise indicated, except for the number of portfolios overseen, which is current as of the date of this SAI.
Funds-of-Funds Arrangements
The Board is responsible for overseeing the business and affairs of the T. Rowe Price Funds-of-Funds, which consist of the following: Spectrum Growth Fund, Spectrum Income Fund, and Spectrum International Fund (collectively, the “Spectrum Funds”); Retirement 2005 Fund, Retirement 2010 Fund, Retirement 2015 Fund, Retirement 2020 Fund, Retirement 2025 Fund, Retirement 2030 Fund, Retirement 2035 Fund, Retirement 2040 Fund, Retirement 2045 Fund, Retirement 2050 Fund, Retirement 2055 Fund, Retirement 2060 Fund, and Retirement Balanced Fund, and their respective share classes (collectively, the “RDFs”); Retirement I 2005 Fund, Retirement I 2010 Fund, Retirement I 2015 Fund, Retirement I 2020 Fund, Retirement I 2025 Fund, Retirement I 2030 Fund, Retirement I 2035 Fund, Retirement I 2040 Fund, Retirement I 2045 Fund, Retirement I 2050 Fund, Retirement I 2055 Fund, Retirement I 2060 Fund, and Retirement Balanced I Fund (collectively the, “Retirement I Funds”); Retirement Income 2020 Fund; and Target 2005 Fund, Target 2010 Fund, Target 2015 Fund, Target 2020 Fund, Target 2025 Fund, Target 2030 Fund, Target 2035 Fund, Target 2040 Fund, Target 2045 Fund, Target 2050 Fund, Target 2055 Fund, and Target 2060 Fund, and their respective share classes (collectively, the “TRFs”). The Spectrum Funds, RDFs, Retirement I Funds, Retirement Income 2020 Fund, and TRFs are referred to collectively as “Funds-of-Funds” and each fund individually as a “Fund-of-Funds,” and where the policies that apply to the RDFs, Retirement I Funds, Retirement Income 2020 Fund, and TRFs are identical, the RDFs, Retirement I Funds, Retirement Income 2020 Fund, and TRFs may be referred to collectively as “Target Date Funds.”
A majority of the directors of the Funds-of-Funds are independent of T. Rowe Price and its affiliates. However, the directors and officers of the Funds-of-Funds and certain directors and officers of T. Rowe Price and its affiliates also serve in similar positions with most of the underlying Price Funds. Thus, if the interests of the Funds-of-Funds and the underlying Price Funds were ever to become divergent, it is possible that a conflict of interest could arise and affect how this latter group of persons fulfill their fiduciary duties to the Funds-of-Funds and the underlying Price Funds. The directors of the Funds-of-Funds believe they have structured the Funds-of Funds to avoid these concerns. However, a situation could conceivably occur where proper action for the Funds-of-Funds could be adverse to the interests of an underlying Price Fund, or the reverse could occur. If such a possibility arises, the directors and officers of the affected funds and the directors and officers of T. Rowe Price will carefully analyze the situation and take all steps they believe reasonable to minimize and, where possible, eliminate the potential conflict.
In generally exercising their responsibilities for the Spectrum Funds, the Boards, among other things, will also refer to the policies, conditions, and guidelines included in an Exemptive Application (and accompanying Notice and Order) originally granted by the SEC in connection with the creation and operation of the Spectrum Funds (the “Exemptive Order”).
In connection with the Exemptive Order, the various Price Funds in which the Spectrum Funds invest (collectively, the “underlying Price Funds”) have entered into Special Servicing Agreements with T. Rowe Price and each respective
24
Spectrum Fund in which they invest. The Special Servicing Agreements provide that each underlying Price Fund in which a Spectrum Fund invests will bear its proportionate share of the expenses of that Spectrum Fund if, and to the extent that, the underlying Price Fund’s savings from the operation of the Spectrum Fund exceeds these expenses. Pursuant to the Exemptive Order and Special Servicing Agreement, T. Rowe Price has agreed to bear any expenses of the Spectrum Fund that exceed the estimated savings to the underlying Price Funds. As a result, the Spectrum Funds do not pay an investment management fee and will effectively pay no operating expenses at the Spectrum Fund level, although shareholders of the Spectrum Funds will still indirectly bear their proportionate share of the expenses of each underlying Price Fund in which the Spectrum Funds invest. The RDFs, Retirement I Funds, Retirement Income 2020 Fund, and TRFs do not rely on this Exemptive Order or a Special Servicing Agreement since they do not pass-through their direct operating expenses to their underlying Price Funds.
Term of Office and Length of Time Served
The directors serve until retirement, resignation, or election of a successor. The following table shows the year from which each director has served on each fund’s Board (or that of the corporation of which the fund is a series of).
Corporation | Number of Portfolios | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | ||
Balanced Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Blue Chip Growth Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Capital Appreciation Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Communications & Technology Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Corporate Income Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1995 |
Credit Opportunities Fund | 1 | 2018 | 2018 | 2014 | 2014 | 2014 | 2014 | 2014 |
Diversified Mid-Cap Growth Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2003 |
Dividend Growth Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Equity Funds | 5 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Equity Income Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Financial Services Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Floating Rate Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 2011 |
Global Allocation Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 2013 |
Global Funds | 7 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Global Multi-Sector Bond Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 2008 |
Global Real Estate Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2008 |
Global Technology Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
GNMA Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Government Money Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Growth & Income Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Growth Stock Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Health Sciences Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
High Yield Fund | 2 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Index Trust | 5 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Inflation Protected Bond Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 2002 |
25
Corporation | Number of Portfolios | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | ||
Institutional Income Funds | 5 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 2002 |
Intermediate Tax-Free High Yield Fund | 1 | 2018 | 2018 | 2014 | 2014 | 2014 | 2014 | 2014 |
International Funds | 27 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
International Index Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Limited Duration Inflation Focused Bond Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 2006 |
Mid-Cap Growth Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Mid-Cap Value Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Multi-Sector Account Portfolios | 6 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 2012 |
Multi-Strategy Total Return Fund | 1 | 2018 | 2018 | 2017 | 2017 | 2017 | 2017 | 2017 |
New America Growth Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
New Era Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
New Horizons Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
New Income Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Quantitative Management Funds | 4 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Real Assets Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2010 |
Real Estate Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
TRP Reserve Funds | 4 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1997 |
Retirement Funds | 39 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2002 |
Science & Technology Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Short-Term Bond Fund | 2 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Small-Cap Stock Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Small-Cap Value Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Spectrum Funds | 3 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Spectrum Funds II | 3 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
State Tax-Free Funds | 10 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Summit Income Funds | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1993 |
Summit Municipal Funds | 3 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1993 |
Tax-Efficient Funds | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Tax-Exempt Money Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Tax-Free High Yield Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Tax-Free Income Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Tax-Free Short-Intermediate Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Total Return Fund | 1 | 2018 | 2018 | 2016 | 2016 | 2016 | 2016 | 2016 |
U.S. Bond Enhanced Index Fund | 1 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 2000 |
U.S. Equity Research Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
26
Corporation | Number of Portfolios | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | ||
U.S. Large-Cap Core Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2009 |
U.S. Treasury Funds | 3 | 2018 | 2018 | 2013 | 2013 | 2013 | 2013 | 1992 |
Value Fund | 1 | 2018 | 2018 | 2013 | 2012 | 2013 | 2012 | 2001 |
Corporation | Number of Portfolios | Inside Directors | ||||||
Oestreicher | Sharps | |||||||
Balanced Fund | 1 | 2018 | 2017 | |||||
Blue Chip Growth Fund | 1 | 2018 | 2017 | |||||
Capital Appreciation Fund | 1 | 2018 | 2017 | |||||
Communications & Technology Fund | 1 | 2018 | 2017 | |||||
Corporate Income Fund | 1 | 2018 | 2019 | |||||
Credit Opportunities Fund | 1 | 2018 | 2019 | |||||
Diversified Mid-Cap Growth Fund | 1 | 2018 | 2017 | |||||
Dividend Growth Fund | 1 | 2018 | 2017 | |||||
Equity Funds | 5 | 2018 | 2017 | |||||
Equity Income Fund | 1 | 2018 | 2017 | |||||
Financial Services Fund | 1 | 2018 | 2017 | |||||
Floating Rate Fund | 1 | 2018 | 2019 | |||||
Global Allocation Fund | 1 | 2018 | 2017 | |||||
Global Funds | 7 | 2018 | 2017 | |||||
Global Multi-Sector Bond Fund | 1 | 2018 | 2019 | |||||
Global Real Estate Fund | 1 | 2018 | 2017 | |||||
Global Technology Fund | 1 | 2018 | 2017 | |||||
GNMA Fund | 1 | 2018 | 2019 | |||||
Government Money Fund | 1 | 2018 | 2019 | |||||
Growth & Income Fund | 1 | 2018 | 2017 | |||||
Growth Stock Fund | 1 | 2018 | 2017 | |||||
Health Sciences Fund | 1 | 2018 | 2017 | |||||
High Yield Fund | 2 | 2018 | 2019 | |||||
Index Trust | 5 | 2018 | 2017 | |||||
Inflation Protected Bond Fund | 1 | 2018 | 2019 | |||||
Institutional Income Funds | 5 | 2018 | 2019 | |||||
Intermediate Tax-Free High Yield Fund | 1 | 2018 | 2019 | |||||
International Funds | 27 | 2018 | 2017 | |||||
International Index Fund | 1 | 2018 | 2017 | |||||
Limited Duration Inflation Focused Bond Fund | 1 | 2018 | 2019 | |||||
Mid-Cap Growth Fund | 1 | 2018 | 2017 | |||||
Mid-Cap Value Fund | 1 | 2018 | 2017 |
27
Corporation | Number of Portfolios | Inside Directors | ||||||
Oestreicher | Sharps | |||||||
Multi-Sector Account Portfolios | 6 | 2018 | 2019 | |||||
Multi-Strategy Total Return Fund | 1 | 2018 | 2017 | |||||
New America Growth Fund | 1 | 2018 | 2017 | |||||
New Era Fund | 1 | 2018 | 2017 | |||||
New Horizons Fund | 1 | 2018 | 2017 | |||||
New Income Fund | 1 | 2018 | 2019 | |||||
Quantitative Management Funds | 4 | 2018 | 2017 | |||||
Real Assets Fund | 1 | 2018 | 2017 | |||||
Real Estate Fund | 1 | 2018 | 2017 | |||||
TRP Reserve Funds | 4 | 2018 | 2019 | |||||
Retirement Funds | 39 | 2018 | 2017 | |||||
Science & Technology Fund | 1 | 2018 | 2017 | |||||
Short-Term Bond Fund | 2 | 2018 | 2019 | |||||
Small-Cap Stock Fund | 1 | 2018 | 2017 | |||||
Small-Cap Value Fund | 1 | 2018 | 2017 | |||||
Spectrum Funds | 3 | 2018 | 2017 | |||||
Spectrum Funds II | 3 | 2018 | 2017 | |||||
State Tax-Free Funds | 10 | 2018 | 2019 | |||||
Summit Income Funds | 1 | 2018 | 2019 | |||||
Summit Municipal Funds | 3 | 2018 | 2019 | |||||
Tax-Efficient Funds | 1 | 2018 | 2017 | |||||
Tax-Exempt Money Fund | 1 | 2018 | 2019 | |||||
Tax-Free High Yield Fund | 1 | 2018 | 2019 | |||||
Tax-Free Income Fund | 1 | 2018 | 2019 | |||||
Tax-Free Short-Intermediate Fund | 1 | 2018 | 2019 | |||||
Total Return Fund | 1 | 2018 | 2019 | |||||
U.S. Bond Enhanced Index Fund | 1 | 2018 | 2019 | |||||
U.S. Equity Research Fund | 1 | 2018 | 2017 | |||||
U.S. Large-Cap Core Fund | 1 | 2018 | 2017 | |||||
U.S. Treasury Funds | 3 | 2018 | 2019 | |||||
Value Fund | 1 | 2018 | 2017 |
28
Below is a table that sets forth certain information, as of December 31, 2019, concerning each person deemed to be an officer of the Price Funds.
Officers
Fund | Name | Position Held |
All funds | David Oestreicher | Director, Principal Executive Officer, and Executive Vice President |
Alan S. Dupski | Principal Financial Officer, Vice President, and Treasurer | |
John R. Gilner | Chief Compliance Officer | |
Darrell N. Braman | Vice President and Secretary | |
Gary J. Greb | Vice President | |
Paul J. Krug | Vice President | |
Megan Warren | Vice President | |
Shannon Hofher Rauser | Assistant Secretary |
Below is a table that sets forth certain information, organized by fund, concerning each person deemed to be an officer of each fund. Information is provided as of March 31, 2020.
Fund | Name | Position Held | |||
Balanced Fund | Charles M. Shriver | Co-President | |||
|
|
| Toby M. Thompson | Co-President | |
|
|
| Kimberly E. DeDominicis | Vice President | |
|
|
| Mark S. Finn | Vice President | |
|
|
| Robert M. Larkins | Vice President | |
|
|
| Wyatt A. Lee | Vice President | |
|
|
| Raymond A. Mills | Vice President | |
|
|
| Sebastien Page | Vice President | |
|
|
| Larry J. Puglia | Vice President | |
|
|
| Guido F. Stubenrauch | Vice President | |
|
|
| Mark J. Vaselkiv | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
29
Fund | Name | Position Held | ||
Blue Chip Growth Fund | Larry J. Puglia | President | ||
|
|
| Jason R. Adams | Vice President |
|
|
| Ziad Bakri | Vice President |
|
|
| Peter J. Bates | Vice President |
|
|
| Eric L. DeVilbiss | Vice President |
|
|
| Greg Dunham | Vice President |
|
|
| Paul D. Greene II | Vice President |
|
|
| Ryan S. Hedrick | Vice President |
|
|
| Thomas J. Huber | Vice President |
|
|
| George A. Marzano | Vice President |
|
|
| Vivek Rajeswaran | Vice President |
|
|
| David L. Rowlett | Vice President |
|
|
| Robert W. Sharps | Vice President |
|
|
| Taymour R. Tamaddon | Vice President |
|
|
| Alan Tu | Vice President |
|
|
| Justin P. White | Vice President |
|
|
| Rouven J. Wool-Lewis | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Capital Appreciation Fund | David R. Giroux | President | ||
|
|
| Shawn T. Driscoll | Vice President |
|
|
| Jon M. Friar | Vice President |
|
|
| Paul D. Greene II | Vice President |
|
|
| Nina P. Jones | Vice President |
|
|
| Vidya Kadiyam | Vice President |
|
|
| Paul M. Massaro | Vice President |
|
|
| Sudhir Nanda | Vice President |
|
|
| Adam Poussard | Vice President |
|
|
| Jeffrey Rottinghaus | Vice President |
|
|
| Farris G. Shuggi | Vice President |
|
|
| Gabriel Solomon | Vice President |
|
|
| Taymour R. Tamaddon | Vice President |
|
|
| Tamara P. Wiggs | Vice President |
|
|
| John M. Williams | Vice President |
|
|
| Ashley R. Woodruff | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
30
Fund | Name | Position Held | |||
Communications & Technology Fund | James Stillwagon (a) | President | |||
|
|
| Paul Y. Cho | Vice President | |
|
|
| Greg Dunham | Vice President | |
|
|
| David J. Eiswert | Vice President | |
|
|
| Joseph B. Fath | Vice President | |
Paul D. Greene II | Vice President | ||||
|
|
| Jacqueline L. Liu | Vice President | |
|
|
| Jennifer Martin | Vice President | |
|
|
| Daniel Martino | Vice President | |
|
|
| Philip A. Nestico | Vice President | |
|
|
| Verena E. Wachnitz | Vice President | |
|
|
| Justin P. White | Vice President | |
|
|
| Christopher S. Whitehouse | Vice President | |
|
|
| Ernest C. Yeung | Vice President | |
|
|
| Wenli Zheng | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
| |
Corporate Income Fund | Steve Boothe | Co-President | |||
|
|
| Lauren T. Wagandt | Co-President | |
|
|
| Michael P. Daley | Vice President | |
|
|
| Michael J. Grogan | Vice President | |
|
|
| Michael Lambe | Vice President | |
|
|
| Matthew Lawton | Vice President | |
|
|
| Samy B. Muaddi | Vice President | |
|
|
| Alexander S. Obaza | Vice President | |
|
|
| Miso Park | Vice President | |
|
|
| Theodore E. Robson | Vice President | |
|
|
| Elliot J. Shue | Vice President | |
|
|
| Jeanny Silva | Vice President | |
|
|
| Scott D. Solomon | Vice President | |
|
|
| Robert D. Thomas | Vice President | |
|
|
| Wesley Ross Trowbridge | Vice President | |
|
|
| Bineesha Wickremarachchi | Vice President | |
|
|
| J. Howard Woodward | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
| |
Credit Opportunities Fund | Rodney M. Rayburn | President | |||
|
|
| Jason A. Bauer | Vice President | |
|
|
| Carson R. Dickson | Vice President | |
|
|
| Daniel Fox | Vice President | |
|
|
| Michael T. Hyland | Vice President | |
|
|
| Brian A. Rubin | Vice President | |
|
|
| Reena Tilva | Vice President | |
|
|
| Michael J. Trivino | Vice President | |
|
|
| David A. Yatzeck | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
31
Fund | Name | Position Held | ||
Diversified Mid-Cap Growth Fund | Donald J. Peters | President | ||
|
|
| Donald J. Easley | Executive Vice President |
|
|
| Jason R. Adams | Vice President |
|
|
| Kennard W. Allen | Vice President |
|
|
| Brian W.H. Berghuis | Vice President |
|
|
| Anne Daub | Vice President |
|
|
| Eric L. DeVilbiss | Vice President |
|
|
| Matt Mahon | Vice President |
|
|
| Sudhir Nanda | Vice President |
|
|
| Christian M. O’Neill | Vice President |
|
|
| John F. Wakeman | Vice President |
|
|
| Ashley R. Woodruff | Vice President |
|
|
| Rouven J. Wool-Lewis | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Dividend Growth Fund | Thomas J. Huber | President | ||
|
|
| Jason R. Adams | Vice President |
|
|
| Peter J. Bates | Vice President |
|
|
| Andrew S. Davis | Vice President |
|
|
| Jon M. Friar | Vice President |
|
|
| Ryan S. Hedrick | Vice President |
|
|
| Jeffrey Rottinghaus | Vice President |
|
|
| Weijie Si | Vice President |
|
|
| Gabriel Solomon | Vice President |
|
|
| John M. Williams | Vice President |
|
|
| Jon D. Wood | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Equity Funds | Robert W. Sharps | President | ||
|
| Institutional Large-Cap Core Growth Fund | Francisco M. Alonso | Executive Vice President |
|
| Institutional Mid-Cap Equity Growth Fund | Brian W.H. Berghuis | Executive Vice President |
|
| Institutional Small-Cap Stock Fund | Mark S. Finn | Executive Vice President |
|
| Large-Cap Growth Fund | Ann M. Holcomb | Executive Vice President |
|
| Large-Cap Value Fund | John D. Linehan | Executive Vice President |
|
|
| Heather K. McPherson | Executive Vice President |
|
|
| Joshua Nelson | Executive Vice President |
|
|
| Jason B. Polun | Executive Vice President |
|
|
| Larry J. Puglia | Executive Vice President |
|
|
| Taymour R. Tamaddon | Executive Vice President |
|
|
| Thomas H. Watson | Executive Vice President |
|
|
| Curt J. Organt | Vice President |
|
|
| Ken D. Uematsu | Vice President |
|
|
| J. David Wagner | Vice President |
|
|
| John F. Wakeman | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
32
Fund | Name | Position Held | |||
Equity Income Fund | John D. Linehan | President | |||
|
|
| Jason R. Adams | Vice President | |
|
|
| Vinit Agrawal | Vice President | |
|
|
| Mark S. Finn | Vice President | |
|
|
| Ryan S. Hedrick | Vice President | |
|
|
| Jon R. Hussey | Vice President | |
|
|
| Shinwoo Kim | Vice President | |
|
|
| Matt Mahon | Vice President | |
|
|
| Daniel Martino | Vice President | |
|
|
| George A. Marzano | Vice President | |
|
|
| Heather K. McPherson | Vice President | |
|
|
| Melanie A. Rizzo | Vice President | |
|
|
| Farris G. Shuggi | Vice President | |
|
|
| Matthew J. Snowling | Vice President | |
|
|
| Preeta Ragavan | Vice President | |
|
|
| James Stillwagon | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
| |
Financial Services Fund | Gabriel Solomon | President | |||
|
|
| Jon B. Casper | Vice President | |
|
|
| Vincent M. DeAugustino | Vice President | |
|
|
| Christopher T. Fortune | Vice President | |
|
|
| Jon M. Friar | Vice President | |
|
|
| Nina P. Jones | Vice President | |
|
|
| Takanori Kobayashi | Vice President | |
|
|
| Gregory Locraft | Vice President | |
|
|
| Joseph R. Mlinac | Vice President | |
|
|
| Matthew J. Snowling | Vice President | |
|
|
| Mitchell J.K. Todd | Vice President | |
|
|
| Susan G. Troll | Vice President | |
|
|
| Zenon Voyiatzis | Vice President | |
|
|
| Tamara P. Wiggs | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
| |
Floating Rate Fund | Paul M. Massaro | President | |||
|
|
| Jason A. Bauer | Vice President | |
|
|
| Brian E. Burns | Vice President | |
|
|
| Michael F. Connelly | Vice President | |
|
|
| Stephen M. Finamore | Vice President | |
|
|
| Justin T. Gerbereux | Vice President | |
|
|
| David R. Giroux | Vice President | |
|
|
| Michael J. McGonigle | Vice President | |
|
|
| Brian A. Rubin | Vice President | |
|
|
| Michael J. Trivino | Vice President | |
|
|
| Mark J. Vaselkiv | Vice President | |
|
|
| Rebecca Willey | Assistant Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
| |
Global Funds | Christopher D. Alderson | President | |||
|
| Global Value Equity Fund | Oliver D.M. Bell | Executive Vice President | |
|
| Institutional Africa & Middle East Fund | R. Scott Berg | Executive Vice President |
33
Fund | Name | Position Held | ||
|
| Institutional Emerging Markets Bond Fund | Richard N. Clattenburg | Executive Vice President |
|
| Institutional Emerging Markets Equity Fund | Michael J. Conelius | Executive Vice President |
|
| Institutional International Core Equity Fund | David J. Eiswert | Executive Vice President |
|
| Institutional International Disciplined Equity Fund | Sebastien Mallet | Executive Vice President |
|
| Institutional International Growth Equity Fund | Raymond A. Mills | Executive Vice President |
|
| Joshua Nelson | Executive Vice President | |
|
|
| Jason Nogueira | Executive Vice President |
|
|
| Gonzalo Pangaro | Executive Vice President |
|
|
| Federico Santilli | Executive Vice President |
|
|
| Ulle Adamson | Vice President |
|
|
| Roy H. Adkins | Vice President |
|
|
| Kennard W. Allen | Vice President |
|
|
| Paulina Amieva | Vice President |
|
|
| Malik S. Asif | Vice President |
|
|
| Ziad Bakri | Vice President |
|
|
| Harishankar Balkrishna | Vice President |
|
|
| Sheena L. Barbosa | Vice President |
|
|
| Peter J. Bates | Vice President |
|
|
| Steve Boothe | Vice President |
|
|
| Peter I. Botoucharov | Vice President |
|
|
| Tala Boulos | Vice President |
|
|
| Carolyn Hoi Che Chu | Vice President |
|
|
| Archibald Ciganer | Vice President |
|
|
| Richard de los Reyes | Vice President |
|
|
| Iona Dent | Vice President |
|
|
| Maria Elena Drew | Vice President |
|
|
| Shawn T. Driscoll | Vice President |
|
|
| Bridget A. Ebner | Vice President |
|
|
| Mark S. Finn | Vice President |
|
|
| Aaron Gifford | Vice President |
|
|
| Paul D. Greene II | Vice President |
|
|
| Benjamin Griffiths | Vice President |
|
|
| Richard L. Hall | Vice President |
|
|
| Amanda B. Hall | Vice President |
|
|
| Nabil Hanano | Vice President |
|
|
| Jeffrey Holford | Vice President |
|
|
| Stefan Hubrich | Vice President |
|
|
| Arif Husain | Vice President |
|
|
| Randal S. Jenneke | Vice President |
|
|
| Nina P. Jones | Vice President |
|
|
| Yoichiro Kai | Vice President |
|
|
| Jai Kapadia | Vice President |
|
|
| Andrew J. Keirle | Vice President |
|
|
| Christopher J. Kushlis | Vice President |
|
|
| Mark J. Lawrence | Vice President |
|
|
| Johannes Loefstrand | Vice President |
|
|
| Anh Lu | Vice President |
|
|
| Jennifer Martin | Vice President |
34
Fund | Name | Position Held | ||
|
|
| Daniel Martino | Vice President |
|
|
| Eric C. Moffett | Vice President |
|
|
| Tobias F. Mueller | Vice President |
|
|
| Sudhir Nanda | Vice President |
|
|
| Kenneth A. Orchard | Vice President |
|
|
| Oluwaseun A. Oyegunle | Vice President |
|
|
| Sebastian Schrott | Vice President |
|
|
| Robert W. Sharps | Vice President |
|
|
| Bin Shen | Vice President |
|
|
| John C.A. Sherman | Vice President |
|
|
| Gabriel Solomon | Vice President |
|
|
| Scott D. Solomon | Vice President |
|
|
| Joshua K. Spencer | Vice President |
|
|
| Taymour R. Tamaddon | Vice President |
|
|
| Dean Tenerelli | Vice President |
|
|
| Eric L. Veiel | Vice President |
|
|
| Rupinder Vig | Vice President |
|
|
| Zenon Voyiatzis | Vice President |
|
|
| Verena E. Wachnitz | Vice President |
|
|
| Dai Wang | Vice President |
|
|
| Christopher S. Whitehouse | Vice President |
|
|
| Marta Yago | Vice President |
|
|
| Ernest C. Yeung | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Global Allocation Fund | Charles M. Shriver | Co-President | ||
|
|
| Toby M. Thompson | Co-President |
|
|
| Stephen L. Bartolini | Vice President |
|
|
| Robert L. Harlow | Vice President |
|
|
| Stefan Hubrich | Vice President |
|
|
| Robert M. Larkins | Vice President |
|
|
| Sean P. McWilliams | Vice President |
|
|
| Robert A. Panariello | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
35
Fund | Name | Position Held | ||
Global Multi-Sector Bond Fund | Kenneth A. Orchard | President | ||
|
|
| Steve Boothe | Vice President |
|
|
| Christopher P. Brown, Jr. | Vice President |
|
|
| Michael J. Conelius | Vice President |
|
|
| Michael F. Connelly | Vice President |
|
|
| Michael Della Vedova | Vice President |
|
|
| Quentin S. Fitzsimmons | Vice President |
|
|
| Arif Husain | Vice President |
|
|
| Keir R. Joyce | Vice President |
|
|
| Andrew J. Keirle | Vice President |
|
|
| Samy B. Muaddi | Vice President |
|
|
| Saurabh Sud | Vice President |
|
|
| Ju Yen Tan | Vice President |
|
|
| Susan G. Troll | Vice President |
|
|
| J. Howard Woodward | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Global Real Estate Fund | Nina P. Jones | President | ||
|
|
| Harishankar Balkrishna | Vice President |
|
|
| Richard N. Clattenburg | Vice President |
|
|
| Jai Kapadia | Vice President |
|
|
| Takanori Kobayashi | Vice President |
|
|
| Robert J. Marcotte | Vice President |
|
|
| Raymond A. Mills | Vice President |
|
|
| Philip A. Nestico | Vice President |
|
|
| Dante Pearson | Vice President |
|
|
| Preeta Ragavan | Vice President |
|
|
| Pavel Vedrov | Vice President |
|
|
| Marta Yago | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Global Technology Fund | Alan Tu | President | ||
|
|
| Kennard W. Allen | Vice President |
|
|
| Christopher W. Carlson | Vice President |
|
|
| Greg Dunham | Vice President |
|
|
| David J. Eiswert | Vice President |
|
|
| Paul D. Greene II | Vice President |
|
|
| Jacqueline L. Liu | Vice President |
|
|
| Jennifer Martin | Vice President |
|
|
| Heather K. McPherson | Vice President |
|
|
| Tobias F. Mueller | Vice President |
|
|
| Dominic Rizzo | Vice President |
|
|
| Emily C. Scudder | Vice President |
|
|
| Joshua K. Spencer | Vice President |
|
|
| Anthony B. Wang | Vice President |
|
|
| Thomas H. Watson | Vice President |
|
|
| Alison Mei Ling Yip | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
36
Fund | Name | Position Held | ||
GNMA Fund | Keir R. Joyce | President | ||
|
|
| Joseph Anastasio | Vice President |
|
|
| Anil K. Andhavarapu | Vice President |
|
|
| Brian J. Brennan | Vice President |
|
|
| Christopher P. Brown, Jr. | Vice President |
|
|
| Ramon R. de Castro | Vice President |
|
|
| Steven M. Kohlenstein | Vice President |
|
|
| Alan D. Levenson | Vice President |
|
|
| Reilly Kevin McCarthy | Assistant Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Government Money Fund | Joseph K. Lynagh | President | ||
|
|
| Colin T. Bando | Vice President |
|
|
| M. Helena Condez | Vice President |
|
|
| Stephanie A. Gentile | Vice President |
|
|
| Alan D. Levenson | Vice President |
|
|
| Cheryl A. Mickel | Vice President |
|
|
| Chen Shao | Vice President |
|
|
| Jeanny Silva | Vice President |
|
|
| Douglas D. Spratley | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Growth & Income Fund | Jeffrey Rottinghaus | President | ||
|
|
| Peter J. Bates | Vice President |
|
|
| Andrew S. Davis | Vice President |
|
|
| Shawn T. Driscoll | Vice President |
|
|
| Joseph B. Fath | Vice President |
|
|
| Mark S. Finn | Vice President |
|
|
| Paul D. Greene II | Vice President |
|
|
| Ryan S. Hedrick | Vice President |
|
|
| Heather K. McPherson | Vice President |
|
|
| Jason Nogueira | Vice President |
|
|
| David L. Rowlett | Vice President |
|
|
| Gabriel Solomon | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Growth Stock Fund | Joseph B. Fath | President | ||
|
|
| Andrew S. Davis | Vice President |
|
|
| Eric L. DeVilbiss | Vice President |
|
|
| Shawn T. Driscoll | Vice President |
|
|
| Greg Dunham | Vice President |
|
|
| David J. Eiswert | Vice President |
|
|
| Jon M. Friar | Vice President |
|
|
| Paul D. Greene II | Vice President |
|
|
| Daniel Martino | Vice President |
|
|
| David L. Rowlett | Vice President |
|
|
| Robert W. Sharps | Vice President |
|
|
| Taymour R. Tamaddon | Vice President |
|
|
| Justin P. White | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
37
Fund | Name | Position Held | ||
Health Sciences Fund | Ziad Bakri | President | ||
|
|
| Anne Daub | Vice President |
|
|
| Melissa C. Gallagher | Vice President |
|
|
| John Hall | Vice President |
|
|
| Jeffrey Holford | Vice President |
|
|
| Rachel D. Jonas | Vice President |
|
|
| Adam Poussard | Vice President |
|
|
| Taymour R. Tamaddon | Vice President |
|
|
| Jon D. Wood | Vice President |
|
|
| Rouven J. Wool-Lewis | Vice President |
|
|
| Nina Xu | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
High Yield Fund | Andrew C. McCormick | President | ||
|
| High Yield Fund (a) | Kevin P. Loome | Executive Vice President |
|
| U.S. High Yield Fund (b) | Rodney M. Rayburn | Executive Vice President |
|
|
| Mark J. Vaselkiv | Executive Vice President |
|
|
| Jason A. Bauer | Vice President |
|
|
| Michael F. Connelly | Vice President |
|
|
| Michael Della Vedova | Vice President |
|
|
| Charles Devereux | Vice President |
|
|
| Carson R. Dickson | Vice President |
|
|
| Devon Everhart | Vice President |
|
|
| Matthew Fanandakis | Vice President |
|
|
| Stephen M. Finamore | Vice President |
|
|
| Daniel Fox | Vice President |
|
|
| Justin T. Gerbereux | Vice President |
|
|
| Gregg Gola | Vice President |
|
|
| Michael T. Hyland | Vice President |
|
|
| Paul M. Massaro | Vice President |
|
|
| Brian A. Rubin | Vice President |
|
|
| Reena Tilva | Vice President |
|
|
| Michael J. Trivino | Vice President |
|
|
| Douglas Zinser | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Index Trust | Alexa M. Gagliardi | President | ||
|
| Equity Index 500 Fund | E. Frederick Bair | Vice President |
|
| Extended Equity Market Index Fund | Neil Smith | Vice President |
|
| Mid-Cap Index Fund | Craig A. Thiese | Vice President |
|
| Small-Cap Index Fund | Michael T. Wehn | Vice President |
|
| Total Equity Market Index Fund |
|
|
|
|
| (For remaining officers, refer to the “All funds” table) |
|
38
Fund | Name | Position Held
| ||||||||||||||
Inflation Protected Bond Fund | Stephen L. Bartolini | President | ||||||||||||||
|
|
| Michael K. Sewell | Executive Vice President | ||||||||||||
|
|
| Brian J. Brennan | Vice President | ||||||||||||
|
|
| Geoffrey M. Hardin | Vice President | ||||||||||||
|
|
| Alan D. Levenson | Vice President | ||||||||||||
|
|
| Michael F. Reinartz | Vice President | ||||||||||||
|
|
| Christopher J. Temple | Vice President | ||||||||||||
|
|
| Susan G. Troll | Vice President | ||||||||||||
|
|
| (For remaining officers, refer to the “All funds” table) |
| ||||||||||||
Institutional Income Funds | Paul M. Massaro | President | ||||||||||||||
|
| Institutional Cash Reserves Fund | Brian J. Brennan | Executive Vice President | ||||||||||||
|
| Institutional Core Plus Fund | Robert M. Larkins | Executive Vice President | ||||||||||||
|
| Institutional Floating Rate Fund | Joseph K. Lynagh | Executive Vice President | ||||||||||||
|
| Institutional High Yield Fund | Rodney M. Rayburn | Executive Vice President | ||||||||||||
|
| Institutional Long Duration Credit Fund | Colin T. Bando | Vice President | ||||||||||||
|
|
| Stephen L. Bartolini | Vice President | ||||||||||||
|
|
| Jason A. Bauer | Vice President | ||||||||||||
|
|
| Steve Boothe | Vice President | ||||||||||||
|
|
| Christopher P. Brown, Jr. | Vice President | ||||||||||||
|
|
| Brian E. Burns | Vice President | ||||||||||||
|
|
| M. Helena Condez | Vice President | ||||||||||||
|
|
| Michael J. Conelius | Vice President | ||||||||||||
|
|
| Michael F. Connelly | Vice President | ||||||||||||
|
|
| Michael P. Daley | Vice President | ||||||||||||
|
|
| Stephen M. Finamore | Vice President | ||||||||||||
|
|
| Stephanie A. Gentile | Vice President | ||||||||||||
|
|
| Justin T. Gerbereux | Vice President | ||||||||||||
|
|
| David R. Giroux | Vice President | ||||||||||||
|
|
| Michael J. Grogan | Vice President | ||||||||||||
|
|
| Keir R. Joyce | Vice President | ||||||||||||
|
|
| Michael Lambe | Vice President | ||||||||||||
|
|
| Matthew Lawton | Vice President | ||||||||||||
|
|
| Yongheon Lee | Vice President | ||||||||||||
|
|
| Alan D. Levenson | Vice President | ||||||||||||
|
|
| Michael J. McGonigle | Vice President | ||||||||||||
|
|
| Cheryl A. Mickel | Vice President | ||||||||||||
|
|
| Samy B. Muaddi | Vice President | ||||||||||||
|
|
| Alexander S. Obaza | Vice President | ||||||||||||
|
|
| Miso Park | Vice President | ||||||||||||
|
|
| Theodore E. Robson | Vice President | ||||||||||||
|
|
| Brian A. Rubin | Vice President | ||||||||||||
|
|
| Chen Shao | Vice President | ||||||||||||
|
|
| Jeanny Silva | Vice President | ||||||||||||
|
|
| Douglas D. Spratley | Vice President | ||||||||||||
|
|
| Ju Yen Tan | Vice President | ||||||||||||
|
|
| Christopher J. Temple | Vice President | ||||||||||||
|
|
| Michael J. Trivino | Vice President | ||||||||||||
|
|
| Susan G. Troll | Vice President |
39
Fund | Name | Position Held | ||
|
|
| Lauren T. Wagandt | Vice President |
|
|
| Bineesha Wickremarachchi | Vice President |
|
|
| J. Howard Woodward | Vice President |
|
|
| Rebecca Willey | Assistant Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Intermediate Tax-Free High Yield Fund | James M. Murphy | President | ||
|
|
| R. Lee Arnold, Jr. | Executive Vice President |
|
|
| Colin T. Bando | Vice President |
|
|
| Daniel Chihorek | Vice President |
|
|
| Sarah J. Engle | Vice President |
|
|
| Dylan Jones | Vice President |
|
|
| Marcy M. Lash | Vice President |
|
|
| Konstantine B. Mallas | Vice President |
|
|
| Hugh D. McGuirk | Vice President |
|
|
| Linda A. Murphy | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
International Funds | Christopher D. Alderson | President | ||
|
| Africa & Middle East Fund | Jason R. Adams | Executive Vice President |
Asia Opportunities Fund | Ulle Adamson | Executive Vice President | ||
|
| Dynamic Credit Fund | Peter J. Bates | Executive Vice President |
|
| Dynamic Global Bond Fund | Oliver D.M. Bell | Executive Vice President |
|
| Emerging Europe Fund | R. Scott Berg | Executive Vice President |
|
| Emerging Markets Bond Fund | Archibald Ciganer | Executive Vice President |
|
| Emerging Markets Corporate Bond Fund | Richard N. Clattenburg | Executive Vice President |
|
| Emerging Markets Discovery Stock Fund | Michael J. Conelius | Executive Vice President |
|
| Emerging Markets Local Currency Bond Fund | Michael Della Vedova | Executive Vice President |
|
| Emerging Markets Stock Fund | David J. Eiswert | Executive Vice President |
|
| European Stock Fund | Arif Husain | Executive Vice President |
|
| Global Consumer Fund | Andrew J. Keirle | Executive Vice President |
|
| Global Growth Stock Fund | Anh Lu | Executive Vice President |
|
| Global High Income Bond Fund | Raymond A. Mills | Executive Vice President |
|
| Global Industrials Fund | Eric C. Moffett | Executive Vice President |
|
| Global Stock Fund | Samy B. Muaddi | Executive Vice President |
|
| International Bond Fund | Joshua Nelson | Executive Vice President |
|
| International Bond Fund (USD Hedged) | Jason Nogueira | Executive Vice President |
|
| International Disciplined Equity Fund | Kenneth A. Orchard | Executive Vice President |
|
| International Discovery Fund | Gonzalo Pangaro | Executive Vice President |
|
| International Stock Fund | Federico Santilli | Executive Vice President |
|
| International Value Equity Fund | Saurabh Sud | Executive Vice President |
|
| Japan Fund | Dean Tenerelli | Executive Vice President |
|
| Latin America Fund | Justin Thomson | Executive Vice President |
|
| New Asia Fund | Mark J. Vaselkiv | Executive Vice President |
|
| Overseas Stock Fund | Verena E. Wachnitz | Executive Vice President |
|
| Ernest C. Yeung | Executive Vice President | |
|
|
| Mariel Abreu | Vice President |
|
|
| Roy H. Adkins | Vice President |
|
|
| Syed H. Ali | Vice President |
|
|
| Kennard W. Allen | Vice President |
40
Fund | Name | Position Held | ||
|
|
| Paulina Amieva | Vice President |
|
|
| Malik S. Asif | Vice President |
|
|
| Ziad Bakri | Vice President |
|
|
| Harishankar Balkrishna | Vice President |
|
|
| Sheena L. Barbosa | Vice President |
|
|
| Jason A. Bauer | Vice President |
|
|
| Luis M. Baylac | Vice President |
|
|
| Timothy F. Bei | Vice President |
|
|
| Steve Boothe | Vice President |
|
|
| Peter I. Botoucharov | Vice President |
|
|
| Tala Boulos | Vice President |
|
|
| Christopher P. Brown, Jr. | Vice President |
|
|
| Sheldon Chan | Vice President |
|
|
| Andrew Chang | Vice President |
|
|
| William Chen | Vice President |
|
|
| Carolyn Hoi Che Chu | Vice President |
|
|
| Michael F. Connelly | Vice President |
|
|
| Andrew S. Davis | Vice President |
|
|
| Richard de los Reyes | Vice President |
|
|
| Iona Dent | Vice President |
|
|
| Maria Elena Drew | Vice President |
|
|
| Shawn T. Driscoll | Vice President |
|
|
| Bridget A. Ebner | Vice President |
|
|
| Dawei Feng | Vice President |
|
|
| Ryan W Ferro | Vice President |
|
|
| Mark S. Finn | Vice President |
|
|
| Quentin S. Fitzsimmons | Vice President |
|
|
| Melissa C. Gallagher | Vice President |
|
|
| Justin T. Gerbereux | Vice President |
|
|
| Aaron Gifford | Vice President |
|
|
| Vishnu V. Gopal | Vice President |
|
|
| Joel Grant | Vice President |
|
|
| Paul D. Greene II | Vice President |
|
|
| Benjamin Griffiths | Vice President |
|
|
| Gianluca Guicciardi | Vice President |
|
|
| Richard L. Hall | Vice President |
|
|
| Nabil Hanano | Vice President |
|
|
| Daniel B. Hirsch | Vice President |
|
|
| Jeffrey Holford | Vice President |
|
|
| Stefan Hubrich | Vice President |
|
|
| Hiromasa Ikeda | Vice President |
|
|
| Tetsuji Inoue | Vice President |
|
|
| Michael D. Jacobs | Vice President |
|
|
| Randal S. Jenneke | Vice President |
|
|
| Prashant G. Jeyaganesh | Vice President |
|
|
| Nina P. Jones | Vice President |
|
|
| Yoichiro Kai | Vice President |
|
|
| Jacob H. Kann | Vice President |
41
Fund | Name | Position Held | ||
|
|
| Jai Kapadia | Vice President |
|
|
| Takanori Kobayashi | Vice President |
|
|
| Christopher J. Kushlis | Vice President |
|
|
| Shengrong Lau | Vice President |
|
|
| Mark J. Lawrence | Vice President |
|
|
| Jacqueline L. Liu | Vice President |
|
|
| Johannes Loefstrand | Vice President |
|
|
| Sebastien Mallet | Vice President |
|
|
| Jennifer Martin | Vice President |
|
|
| Ryan Martyn | Vice President |
|
|
| Jihong Min | Vice President |
|
|
| Ivan Morozov | Vice President |
|
|
| Tobias F. Mueller | Vice President |
|
|
| Philip A. Nestico | Vice President |
|
|
| Michael Niedzielski | Vice President |
|
|
| Sridhar Nishtala | Vice President |
|
|
| Curt J. Organt | Vice President |
|
|
| Paul T. O’Sullivan | Vice President |
|
|
| Oluwaseun A. Oyegunle | Vice President |
|
|
| Vivek Rajeswaran | Vice President |
|
|
| Todd Reese | Vice President |
|
|
| Melanie A. Rizzo | Vice President |
|
|
| David L. Rowlett | Vice President |
|
|
| Nikolaj Schmidt | Vice President |
|
|
| Sebastian Schrott | Vice President |
|
|
| Robert W. Sharps | Vice President |
|
|
| Bin Shen | Vice President |
|
|
| John C.A. Sherman | Vice President |
|
|
| Gabriel Solomon | Vice President |
|
|
| Scott D. Solomon | Vice President |
|
|
| Joshua K. Spencer | Vice President |
|
|
| David Stanley | Vice President |
|
|
| Taymour R. Tamaddon | Vice President |
|
|
| Ju Yen Tan | Vice President |
|
|
| Sin Dee Tan | Vice President |
|
|
| Siby Thomas | Vice President |
|
|
| Rupinder Vig | Vice President |
|
|
| Willem Visser | Vice President |
|
|
| Kes Visuvalingam | Vice President |
|
|
| Chris Vost | Vice President |
|
|
| Zenon Voyiatzis | Vice President |
|
|
| David J. Wallack | Vice President |
|
|
| Dai Wang | Vice President |
|
|
| Hiroshi Watanabe | Vice President |
|
|
| Clive M. Williams | Vice President |
|
|
| J. Howard Woodward | Vice President |
|
|
| Marta Yago | Vice President |
|
|
| Benjamin T. Yeagle | Vice President |
42
Fund | Name | Position Held | |||
|
|
| Alison Mei Ling Yip | Vice President | |
|
|
| Eric Yuan | Vice President | |
|
|
| Wenli Zheng | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
| |
International Index Fund | Neil Smith | President | |||
|
| International Equity Index Fund | E. Frederick Bair | Vice President | |
|
|
| Alexa M. Gagliardi | Vice President | |
|
|
| Craig A. Thiese | Vice President | |
|
|
| Ken D. Uematsu | Vice President | |
|
|
| Michael T. Wehn | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
| |
Limited Duration Inflation Focused Bond Fund | Stephen L. Bartolini | President | |||
|
|
| Michael K. Sewell | Executive Vice President | |
|
|
| Brian J. Brennan | Vice President | |
|
|
| Jerome A. Clark | Vice President | |
|
|
| Geoffrey M. Hardin | Vice President | |
|
|
| Wyatt A. Lee | Vice President | |
|
|
| Michael F. Reinartz | Vice President | |
|
|
| Christopher J. Temple | Vice President | |
|
|
| Susan G. Troll | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
| |
Mid-Cap Growth Fund | Brian W.H. Berghuis | President | |||
|
|
| John F. Wakeman | Executive Vice President | |
|
|
| Kennard W. Allen | Vice President | |
|
|
| Ziad Bakri | Vice President | |
|
|
| Shawn T. Driscoll | Vice President | |
|
|
| Donald J. Easley | Vice President | |
|
|
| Joseph B. Fath | Vice President | |
|
|
| Robert J. Marcotte | Vice President | |
|
|
| Jason Nogueira | Vice President | |
|
|
| Vivek Rajeswaran | Vice President | |
|
|
| Joshua K. Spencer | Vice President | |
|
|
| Justin P. White | Vice President | |
|
|
| Ashley R. Woodruff | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
43
Fund | Name | Position Held | ||
Mid-Cap Value Fund | David J. Wallack | President | ||
|
|
| Heather K. McPherson | Executive Vice President |
|
|
| Christopher W. Carlson | Vice President |
|
|
| Richard de los Reyes | Vice President |
|
|
| Vincent M. DeAugustino | Vice President |
|
|
| Mark S. Finn | Vice President |
|
|
| Ryan S. Hedrick | Vice President |
|
|
| Nina P. Jones | Vice President |
|
|
| Melanie A. Rizzo | Vice President |
|
|
| Gabriel Solomon | Vice President |
|
|
| J. David Wagner | Vice President |
|
|
| Justin P. White | Vice President |
|
|
| John M. Williams | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Multi-Sector Account Portfolios | Andrew C. McCormick | President | ||
|
| Emerging Markets Corporate Multi-Sector Account Portfolio | Steve Boothe | Executive Vice President |
|
| Emerging Markets Local Multi-Sector Account Portfolio | Keir R. Joyce | Executive Vice President |
|
| Floating Rate Multi-Sector Account Portfolio | Andrew J. Keirle | Executive Vice President |
|
| High Yield Multi-Sector Account Portfolio | Paul M. Massaro | Executive Vice President |
|
| Investment-Grade Corporate Multi-Sector Account Portfolio | Samy B. Muaddi | Executive Vice President |
|
| Mortgage-Backed Securities Multi-Sector Account Portfolio | Mark J. Vaselkiv | Executive Vice President |
|
|
| Mariel Abreu | Vice President |
|
|
| Roy H. Adkins | Vice President |
|
|
| Joseph Anastasio | Vice President |
|
|
| Anil K. Andhavarapu | Vice President |
|
|
| Stephen L. Bartolini | Vice President |
|
|
| Jason A. Bauer | Vice President |
|
|
| Peter I. Botoucharov | Vice President |
|
|
| Tala Boulos | Vice President |
|
|
| Brian J. Brennan | Vice President |
|
|
| Christopher P. Brown, Jr. | Vice President |
|
|
| Brian E. Burns | Vice President |
|
|
| Sheldon Chan | Vice President |
|
|
| Carolyn Hoi Che Chu | Vice President |
|
|
| Michael J. Conelius | Vice President |
|
|
| Michael F. Connelly | Vice President |
|
|
| Michael P. Daley | Vice President |
|
|
| Ramon R. de Castro | Vice President |
|
|
| Stephen M. Finamore | Vice President |
|
|
| Justin T. Gerbereux | Vice President |
|
|
| Aaron Gifford | Vice President |
|
|
| David R. Giroux | Vice President |
|
|
| Michael J. Grogan | Vice President |
|
|
| Richard L. Hall | Vice President |
|
|
| Arif Husain | Vice President |
|
|
| Keir R. Joyce | Vice President |
|
|
| Steven M. Kohlenstein | Vice President |
|
|
| Christopher J. Kushlis | Vice President |
44
Fund | Name | Position Held | ||
|
|
| Michael Lambe | Vice President |
|
|
| Alan D. Levenson | Vice President |
|
|
| Michael J. McGonigle | Vice President |
|
|
| Ivan Morozov | Vice President |
|
|
| Alexander S. Obaza | Vice President |
|
|
| Kenneth A. Orchard | Vice President |
|
|
| Miso Park | Vice President |
|
|
| Theodore E. Robson | Vice President |
|
|
| Brian A. Rubin | Vice President |
|
|
| Michael K. Sewell | Vice President |
|
|
| Jeanny Silva | Vice President |
|
|
| David Stanley | Vice President |
|
|
| Ju Yen Tan | Vice President |
|
|
| Siby Thomas | Vice President |
|
|
| Robert D. Thomas | Vice President |
|
|
| Michael J. Trivino | Vice President |
|
|
| Wesley Ross Trowbridge | Vice President |
|
|
| Willem Visser | Vice President |
|
|
| Lauren T. Wagandt | Vice President |
|
|
| Bineesha Wickremarachchi | Vice President |
|
|
| J. Howard Woodward | Vice President |
|
|
| Rebecca Willey | Assistant Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Multi-Strategy Total Return Fund | Richard de los Reyes | Co-President | ||
|
|
| Stefan Hubrich | Co-President |
|
|
| David R. Giroux | Vice President |
|
|
| Arif Husain | Vice President |
|
|
| John D. Linehan | Vice President |
|
|
| Sebastien Page | Vice President |
|
|
| Robert W. Sharps | Vice President |
|
|
| Justin Thomson | Vice President |
|
|
| Mark J. Vaselkiv | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
New America Growth Fund | Justin P. White | President | ||
|
|
| Jason R. Adams | Vice President |
|
|
| Ziad Bakri | Vice President |
|
|
| Brian W.H. Berghuis | Vice President |
|
|
| Eric L. DeVilbiss | Vice President |
|
|
| Shawn T. Driscoll | Vice President |
|
|
| David L. Rowlett | Vice President |
|
|
| Taymour R. Tamaddon | Vice President |
|
|
| Craig A. Thiese | Vice President |
|
|
| Thomas H. Watson | Vice President |
|
|
| Ashley R. Woodruff | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
45
Fund | Name | Position Held | ||
New Era Fund | Shawn T. Driscoll | President | ||
|
|
| Richard de los Reyes | Vice President |
|
|
| Donald J. Easley | Vice President |
|
|
| Mark S. Finn | Vice President |
|
|
| Ryan S. Hedrick | Vice President |
|
|
| Jon R. Hussey | Vice President |
|
|
| Shinwoo Kim | Vice President |
|
|
| Matt Mahon | Vice President |
|
|
| Ryan Martyn | Vice President |
|
|
| Heather K. McPherson | Vice President |
|
|
| Christian M. O’Neill | Vice President |
|
|
| John C. Qian | Vice President |
|
|
| Vivek Rajeswaran | Vice President |
|
|
| Thomas A. Shelmerdine | Vice President |
|
|
| Craig A. Thiese | Vice President |
|
|
| David J. Wallack | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
New Horizons Fund | Joshua K. Spencer | President | ||
|
|
| Francisco M. Alonso | Vice President |
|
|
| Ziad Bakri | Vice President |
|
|
| Brian W.H. Berghuis | Vice President |
|
|
| Christopher W. Carlson | Vice President |
|
|
| Eric L. DeVilbiss | Vice President |
|
|
| Greg Dunham | Vice President |
|
|
| Jon M. Friar | Vice President |
|
|
| Curt J. Organt | Vice President |
|
|
| Alexander P. Roik | Vice President |
|
|
| Justin Thomson | Vice President |
|
|
| Alan Tu | Vice President |
|
|
| J. David Wagner | Vice President |
|
|
| Ashley R. Woodruff | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
New Income Fund | Stephen L. Bartolini | President | ||
|
|
| Steve Boothe | Vice President |
|
|
| Brian J. Brennan | Vice President |
|
|
| Christopher P. Brown, Jr. | Vice President |
|
|
| Geoffrey M. Hardin | Vice President |
|
|
| Robert M. Larkins | Vice President |
|
|
| Matthew Lawton | Vice President |
|
|
| Alan D. Levenson | Vice President |
|
|
| Susan G. Troll | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
46
Fund | Name | Position Held | ||
Quantitative Management Funds | Sudhir Nanda | President | ||
|
| QM Global Equity Fund | Prashant G. Jeyaganesh | Executive Vice President |
|
| QM U.S. Small & Mid-Cap Core Equity Fund | Farris G. Shuggi | Executive Vice President |
|
| QM U.S. Small-Cap Growth Equity Fund | George Gao | Vice President |
|
| QM U.S. Value Equity Fund | Vidya Kadiyam | Vice President |
|
|
| Navneesh Malhan | Vice President |
|
|
| Rinald Murataj | Vice President |
|
|
| Jordan S. Pryor | Vice President |
|
|
| Erik M. von Heijne | Vice President |
|
|
| Anthony Zhu | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Real Assets Fund | Richard Coghlan | Co-President | ||
|
|
| Christopher Faulkner-MacDonagh | Co-President |
|
|
| E. Frederick Bair | Vice President |
|
|
| Stephen L. Bartolini | Vice President |
|
|
| Richard de los Reyes | Vice President |
|
|
| Shawn T. Driscoll | Vice President |
|
|
| Matthew A. Howell | Vice President |
|
|
| Nina P. Jones | Vice President |
|
|
| Sebastien Page | Vice President |
|
|
| Robert A. Panariello | Vice President |
|
|
| Charles M. Shriver | Vice President |
|
|
| J. Zachary Wood | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Real Estate Fund | Nina P. Jones | President | ||
|
|
| Thomas J. Huber | Vice President |
|
|
| Philip A. Nestico | Vice President |
|
|
| Dante Pearson | Vice President |
|
|
| Jane K. Rivers | Vice President |
|
|
| Theodore E. Robson | Vice President |
|
|
| Weijie Si | Vice President |
|
|
| Brian Solomon | Vice President |
|
|
| Preeta Ragavan | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
TRP Reserve Investment Funds | Joseph K. Lynagh | President | ||
|
| Government Reserve Fund | Colin T. Bando | Vice President |
|
| Short-Term Fund | M. Helena Condez | Vice President |
|
| Short-Term Government Fund | Stephanie A. Gentile | Vice President |
|
| Treasury Reserve Fund | Alan D. Levenson | Vice President |
|
|
| Cheryl A. Mickel | Vice President |
|
|
| Chen Shao | Vice President |
|
|
| Jeanny Silva | Vice President |
|
|
| Douglas D. Spratley | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
47
Fund | Name | Position Held | |||
Retirement Funds | Jerome A. Clark | Co-President | |||
|
| Retirement 2005 Fund | Kimberly E. DeDominicis | Co-President | |
|
| Retirement 2010 Fund | Andrew G. Jacobs Van Merlen | Co-President | |
|
| Retirement 2015 Fund | Wyatt A. Lee | Co-President | |
|
| Retirement 2020 Fund | Christopher D. Alderson | Vice President | |
|
| Retirement 2025 Fund | Francisco M. Alonso | Vice President | |
|
| Retirement 2030 Fund | Mark S. Finn | Vice President | |
|
| Retirement 2035 Fund | David R. Giroux | Vice President | |
|
| Retirement 2040 Fund | Arif Husain | Vice President | |
|
| Retirement 2045 Fund | Sebastien Page | Vice President | |
|
| Retirement 2050 Fund | Robert A. Panariello | Vice President | |
|
| Retirement 2055 Fund | Robert W. Sharps | Vice President | |
|
| Retirement 2060 Fund | Charles M. Shriver | Vice President | |
|
| Retirement Balanced Fund | Guido F. Stubenrauch | Vice President | |
|
| Retirement I 2005 Fund—I Class | Justin Thomson | Vice President | |
|
| Retirement I 2010 Fund—I Class | James A. Tzitzouris Jr. | Vice President | |
|
| Retirement I 2015 Fund—I Class | Mark J. Vaselkiv | Vice President | |
|
| Retirement I 2020 Fund—I Class |
|
| |
|
| Retirement I 2025 Fund—I Class |
|
| |
|
| Retirement I 2030 Fund—I Class |
|
| |
|
| Retirement I 2035 Fund—I Class |
|
| |
|
| Retirement I 2040 Fund—I Class |
|
| |
|
| Retirement I 2045 Fund—I Class |
|
| |
|
| Retirement I 2050 Fund—I Class |
|
| |
|
| Retirement I 2055 Fund—I Class |
|
| |
|
| Retirement I 2060 Fund—I Class |
|
| |
|
| Retirement Balanced I Fund—I Class |
|
| |
|
| Retirement Income 2020 Fund |
|
| |
|
| Target 2005 Fund |
|
| |
|
| Target 2010 Fund |
|
| |
|
| Target 2015 Fund |
|
| |
|
| Target 2020 Fund |
|
| |
|
| Target 2025 Fund |
|
| |
|
| Target 2030 Fund |
|
| |
|
| Target 2035 Fund |
|
| |
|
| Target 2040 Fund |
|
| |
|
| Target 2045 Fund |
|
| |
|
| Target 2050 Fund |
|
| |
|
| Target 2055 Fund |
|
| |
|
| Target 2060 Fund |
|
| |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
48
Fund | Name | Position Held | ||
Science & Technology Fund | Kennard W. Allen | President | ||
|
|
| Brian W.H. Berghuis | Vice President |
|
|
| Greg Dunham | Vice President |
|
|
| David J. Eiswert | Vice President |
|
|
| Paul D. Greene II | Vice President |
|
|
| Jacqueline L. Liu | Vice President |
|
|
| Tobias F. Mueller | Vice President |
|
|
| Dominic Rizzo | Vice President |
|
|
| Emily C. Scudder | Vice President |
|
|
| Joshua K. Spencer | Vice President |
|
|
| Alan Tu | Vice President |
|
|
| Anthony B. Wang | Vice President |
|
|
| Thomas H. Watson | Vice President |
|
|
| Alison Mei Ling Yip | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Short-Term Bond Fund | Cheryl A. Mickel | President | ||
|
| Short-Term Bond Fund | Joseph K. Lynagh | Executive Vice President |
|
| Ultra Short-Term Bond Fund | Michael F. Reinartz | Executive Vice President |
|
|
| Stephen L. Bartolini | Vice President |
|
|
| Jason T. Collins | Vice President |
|
|
| M. Helena Condez | Vice President |
|
|
| Michael P. Daley | Vice President |
|
|
| Levent Demirekler | Vice President |
|
|
| Stephanie A. Gentile | Vice President |
|
|
| Charles B. Hill | Vice President |
|
|
| Keir R. Joyce | Vice President |
|
|
| Steven M. Kohlenstein | Vice President |
|
|
| Alexander S. Obaza | Vice President |
|
|
| Chen Shao | Vice President |
|
|
| Tyrone Smith | Vice President |
|
|
| Douglas D. Spratley | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Small-Cap Stock Fund | Francisco M. Alonso | President | ||
|
|
| Andrew S. Davis | Vice President |
|
|
| Christopher T. Fortune | Vice President |
|
|
| John Hall | Vice President |
|
|
| Ryan S. Hedrick | Vice President |
|
|
| Robert J. Marcotte | Vice President |
|
|
| Curt J. Organt | Vice President |
|
|
| Charles G. Pepin | Vice President |
|
|
| Robert T. Quinn, Jr. | Vice President |
|
|
| Alexander P. Roik | Vice President |
|
|
| Joshua K. Spencer | Vice President |
|
|
| J. David Wagner | Vice President |
|
|
| Rouven J. Wool-Lewis | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
49
Fund | Name | Position Held | |||
Small-Cap Value Fund | J. David Wagner | President | |||
|
|
| Francisco M. Alonso | Vice President | |
|
|
| Christopher T. Fortune | Vice President | |
|
|
| Ryan S. Hedrick | Vice President | |
|
|
| Jon R. Hussey | Vice President | |
|
|
| Curt J. Organt | Vice President | |
|
|
| Robert T. Quinn, Jr. | Vice President | |
|
|
| Vivek Rajeswaran | Vice President | |
|
|
| Alexander P. Roik | Vice President | |
|
|
| Farris G. Shuggi | Vice President | |
|
|
| Preeta Ragavan | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
| |
Spectrum Funds | Charles M. Shriver | Co-President | |||
|
| Spectrum Growth Fund | Toby M. Thompson | Co-President | |
|
| Spectrum Income Fund | Christopher D. Alderson | Vice President | |
|
| Spectrum International Fund | Francisco M. Alonso | Vice President | |
|
|
| Stephen L. Bartolini | Vice President | |
|
|
| Kimberly E. DeDominicis | Vice President | |
|
|
| Mark S. Finn | Vice President | |
|
|
| David R. Giroux | Vice President | |
|
|
| Arif Husain | Vice President | |
|
|
| Wyatt A. Lee | Vice President | |
|
|
| Sebastien Page | Vice President | |
|
|
| Robert A. Panariello | Vice President | |
|
|
| Robert W. Sharps | Vice President | |
|
|
| Guido F. Stubenrauch | Vice President | |
|
|
| Justin Thomson | Vice President | |
|
|
| Mark J. Vaselkiv | Vice President | |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
50
Fund | Name | Position Held | ||
Spectrum Funds II | Charles M. Shriver | Co-President | ||
|
| Spectrum Conservative Allocation Fund | Toby M. Thompson | Co-President |
|
| Spectrum Moderate Allocation Fund | Christopher D. Alderson | Vice President |
|
| Spectrum Moderate Growth Allocation Fund | Francisco M. Alonso | Vice President |
|
|
| E. Frederick Bair | Vice President |
|
|
| Jerome A. Clark | Vice President |
|
|
| Kimberly E. DeDominicis | Vice President |
|
|
| Mark S. Finn | Vice President |
|
|
| David R. Giroux | Vice President |
|
|
| Arif Husain | Vice President |
|
|
| Wyatt A. Lee | Vice President |
|
|
| Raymond A. Mills | Vice President |
|
|
| Sebastien Page | Vice President |
|
|
| Robert A. Panariello | Vice President |
|
|
| Larry J. Puglia | Vice President |
|
|
| Robert W. Sharps | Vice President |
|
|
| Guido F. Stubenrauch | Vice President |
|
|
| Justin Thomson | Vice President |
|
|
| Mark J. Vaselkiv | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
State Tax-Free Funds | Hugh D. McGuirk | President | ||
|
| California Tax-Free Bond Fund | Austin Applegate | Executive Vice President |
|
| California Tax-Free Money Fund | Charles B. Hill | Executive Vice President |
|
| Georgia Tax-Free Bond Fund | Joseph K. Lynagh | Executive Vice President |
|
| Maryland Short-Term Tax-Free Bond Fund | Konstantine B. Mallas | Executive Vice President |
|
| Maryland Tax-Free Bond Fund | Colin T. Bando | Vice President |
|
| Maryland Tax-Free Money Fund | Daniel Chihorek | Vice President |
|
| New Jersey Tax-Free Bond Fund | M. Helena Condez | Vice President |
|
| New York Tax-Free Bond Fund | Sarah J. Engle | Vice President |
|
| New York Tax-Free Money Fund | Alisa Fiumara-Yoch | Vice President |
|
| Virginia Tax-Free Bond Fund | Stephanie A. Gentile | Vice President |
|
|
| Dylan Jones | Vice President |
|
|
| Marcy M. Lash | Vice President |
|
|
| Alan D. Levenson | Vice President |
|
|
| James T. Lynch | Vice President |
|
|
| Linda A. Murphy | Vice President |
|
|
| James M. Murphy | Vice President |
|
|
| Chen Shao | Vice President |
|
|
| Jeanny Silva | Vice President |
|
|
| Douglas D. Spratley | Vice President |
|
|
| Timothy G. Taylor | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
51
Fund | Name | Position Held | ||
Summit Income Funds | Joseph K. Lynagh | President | ||
|
| Cash Reserves Fund | Colin T. Bando | Vice President |
|
|
| M. Helena Condez | Vice President |
|
|
| Stephanie A. Gentile | Vice President |
|
|
| Alan D. Levenson | Vice President |
|
|
| Cheryl A. Mickel | Vice President |
|
|
| Chen Shao | Vice President |
|
|
| Jeanny Silva | Vice President |
|
|
| Douglas D. Spratley | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Summit Municipal Funds | Hugh D. McGuirk | President | ||
|
| Summit Municipal Income Fund | Charles B. Hill | Executive Vice President |
|
| Summit Municipal Intermediate Fund | Joseph K. Lynagh | Executive Vice President |
|
| Summit Municipal Money Market Fund | Konstantine B. Mallas | Executive Vice President |
|
|
| Austin Applegate | Vice President |
|
|
| R. Lee Arnold, Jr. | Vice President |
|
|
| Colin T. Bando | Vice President |
|
|
| Daniel Chihorek | Vice President |
|
|
| M. Helena Condez | Vice President |
|
|
| Sarah J. Engle | Vice President |
|
|
| Stephanie A. Gentile | Vice President |
|
|
| Dylan Jones | Vice President |
|
|
| Marcy M. Lash | Vice President |
|
|
| Alan D. Levenson | Vice President |
|
|
| James T. Lynch | Vice President |
|
|
| Cheryl A. Mickel | Vice President |
|
|
| Linda A. Murphy | Vice President |
|
|
| James M. Murphy | Vice President |
|
|
| Chen Shao | Vice President |
|
|
| Jeanny Silva | Vice President |
|
|
| Douglas D. Spratley | Vice President |
|
|
| Robert D. Thomas | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Tax-Efficient Funds | Donald J. Peters | President | ||
|
| Tax-Efficient Equity Fund | Kennard W. Allen | Vice President |
|
|
| Ziad Bakri | Vice President |
|
|
| Andrew S. Davis | Vice President |
|
|
| Greg Dunham | Vice President |
|
|
| Donald J. Easley | Vice President |
|
|
| Weijie Si | Vice President |
|
|
| Matthew J. Snowling | Vice President |
|
|
| Alan Tu | Vice President |
|
|
| Mark R. Weigman | Vice President |
|
|
| Nina Xu | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
52
Fund | Name | Position Held | ||
Tax-Exempt Money Fund | Joseph K. Lynagh | President | ||
|
|
| Colin T. Bando | Vice President |
|
|
| M. Helena Condez | Vice President |
|
|
| Stephanie A. Gentile | Vice President |
|
|
| Alan D. Levenson | Vice President |
|
|
| Chen Shao | Vice President |
|
|
| Jeanny Silva | Vice President |
|
|
| Douglas D. Spratley | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Tax-Free High Yield Fund | James M. Murphy | President | ||
|
|
| R. Lee Arnold, Jr. | Executive Vice President |
|
|
| Colin T. Bando | Vice President |
|
|
| Daniel Chihorek | Vice President |
|
|
| Sarah J. Engle | Vice President |
|
|
| Charles B. Hill | Vice President |
|
|
| Marcy M. Lash | Vice President |
|
|
| Konstantine B. Mallas | Vice President |
|
|
| Hugh D. McGuirk | Vice President |
|
|
| Linda A. Murphy | Vice President |
|
|
| Timothy G. Taylor | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Tax-Free Income Fund | Konstantine B. Mallas | President | ||
|
|
| R. Lee Arnold, Jr. | Vice President |
|
|
| Sarah J. Engle | Vice President |
|
|
| Charles B. Hill | Vice President |
|
|
| Marcy M. Lash | Vice President |
|
|
| James T. Lynch | Vice President |
|
|
| Hugh D. McGuirk | Vice President |
|
|
| James M. Murphy | Vice President |
|
|
| Timothy G. Taylor | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
Tax-Free Short-Intermediate Fund | Charles B. Hill | President | ||
|
|
| Austin Applegate | Vice President |
|
|
| Alisa Fiumara-Yoch | Vice President |
|
|
| Dylan Jones | Vice President |
|
|
| Marcy M. Lash | Vice President |
|
|
| Joseph K. Lynagh | Vice President |
|
|
| James T. Lynch | Vice President |
|
|
| Hugh D. McGuirk | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
53
Fund | Name | Position Held | ||
Total Return Fund | Christopher P. Brown, Jr. | President | ||
|
|
| Stephen L. Bartolini | Vice President |
|
|
| Jason A. Bauer | Vice President |
|
|
| Brian J. Brennan | Vice President |
|
|
| Oliver Gjoneski | Vice President |
|
|
| Robert M. Larkins | Vice President |
|
|
| Yongheon Lee | Vice President |
|
|
| Kenneth A. Orchard | Vice President |
|
|
| Saurabh Sud | Vice President |
|
|
| Christopher J. Temple | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
U.S. Bond Enhanced Index Fund | Robert M. Larkins | President | ||
|
|
| Stephen L. Bartolini | Vice President |
|
|
| Brian J. Brennan | Vice President |
|
|
| Christopher P. Brown, Jr. | Vice President |
|
|
| Amit S. Deshpande | Vice President |
|
|
| Yongheon Lee | Vice President |
|
|
| Lauren T. Wagandt | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
U.S. Equity Research Fund | Ann M. Holcomb | Co-President | ||
|
|
| Joshua Nelson | Co-President |
|
|
| Jason B. Polun | Co-President |
|
|
| Thomas H. Watson | Co-President |
|
|
| Kennard W. Allen | Vice President |
|
|
| Peter J. Bates | Vice President |
|
|
| Christopher W. Carlson | Vice President |
|
|
| Ira W. Carnahan | Vice President |
|
|
| Donald J. Easley | Vice President |
|
|
| Joseph B. Fath | Vice President |
|
|
| Mark S. Finn | Vice President |
|
|
| Jon M. Friar | Vice President |
|
|
| Paul D. Greene II | Vice President |
|
|
| Ryan S. Hedrick | Vice President |
|
|
| Jason Nogueira | Vice President |
|
|
| Jeffrey Rottinghaus | Vice President |
|
|
| Matthew J. Snowling | Vice President |
|
|
| Ken D. Uematsu | Vice President |
|
|
| John F. Wakeman | Vice President |
|
|
| Justin P. White | Vice President |
|
|
| Rouven J. Wool-Lewis | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
54
Fund | Name | Position Held | ||
U.S. Large-Cap Core Fund | Jeffrey Rottinghaus | President | ||
|
|
| Peter J. Bates | Vice President |
|
|
| Andrew S. Davis | Vice President |
|
|
| Shawn T. Driscoll | Vice President |
|
|
| Joseph B. Fath | Vice President |
|
|
| Mark S. Finn | Vice President |
|
|
| Paul D. Greene II | Vice President |
|
|
| Ryan S. Hedrick | Vice President |
|
|
| Heather K. McPherson | Vice President |
|
|
| Jason Nogueira | Vice President |
|
|
| David L. Rowlett | Vice President |
|
|
| Gabriel Solomon | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
U.S. Treasury Funds | Brian J. Brennan | President | ||
|
| U.S. Treasury Intermediate Fund | Joseph K. Lynagh | Executive Vice President |
|
| U.S. Treasury Long-Term Fund | Colin T. Bando | Vice President |
|
| U.S. Treasury Money Fund | Stephen L. Bartolini | Vice President |
|
|
| M. Helena Condez | Vice President |
|
|
| Stephanie A. Gentile | Vice President |
|
|
| Geoffrey M. Hardin | Vice President |
|
|
| Keir R. Joyce | Vice President |
|
|
| Alan D. Levenson | Vice President |
|
|
| Cheryl A. Mickel | Vice President |
|
|
| Michael K. Sewell | Vice President |
|
|
| Chen Shao | Vice President |
|
|
| Jeanny Silva | Vice President |
|
|
| Douglas D. Spratley | Vice President |
|
|
| Christopher J. Temple | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
55
Fund | Name | Position Held | ||
Value Fund | Mark S. Finn | President | ||
|
|
| Peter J. Bates | Vice President |
|
|
| Jason A. Bauer | Vice President |
|
|
| Andrew S. Davis | Vice President |
|
|
| Vincent M. DeAugustino | Vice President |
|
|
| Joel Grant | Vice President |
|
|
| Ryan S. Hedrick | Vice President |
|
|
| Jon R. Hussey | Vice President |
|
|
| John D. Linehan | Vice President |
|
|
| Daniel Martino | Vice President |
|
|
| Heather K. McPherson | Vice President |
|
|
| Christian M. O’Neill | Vice President |
|
|
| Weijie Si | Vice President |
|
|
| Tamara P. Wiggs | Vice President |
|
|
| Jon D. Wood | Vice President |
|
|
| (For remaining officers, refer to the “All funds” table) |
|
(a) Effective April 1, 2020, James Stillwagon became the President of the fund.
(b) Certain officers of the corporation do not serve as officers with respect to the fund; the High Yield Fund’s officers are Andrew C. McCormick, Jason A. Bauer, Michael F. Connelly, Michael Della Vedova, Carson R. Dickson, Stephen M. Finamore, Daniel Fox, Justin T. Gerbereux, Michael T. Hyland, Paul M. Massaro, Rodney M. Rayburn, Brian A. Rubin, Reena Tilva, Michael J. Trivino, and Mark J. Vaselkiv.
(c) Certain officers of the corporation do not serve as officers with respect to the fund; the U.S. High Yield Fund’s officers are Andrew C. McCormick, Charles Devereux, Devon Everhart, Matthew Fanandakis, Gregg Gola, Kevin P. Loome, and Douglas Zinser.
Below is a table that sets forth certain information, as of March 31, 2020, regarding each person deemed to be an officer of the Price Funds.
Officers
Name, Year of Birth, and
Principal Occupation(s) | Position(s) Held With Fund(s) | |
Mariel Abreu, 1981 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, International Funds and Multi-Sector Account Portfolios | |
Jason R. Adams, 1979 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, International Funds; Vice President, Blue Chip Growth Fund, Diversified Mid-Cap Growth Fund, Dividend Growth Fund, Equity Income Fund, and New America Growth Fund | |
Ulle Adamson, CFA, 1979 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, International Funds; Vice President, Global Funds | |
Roy H. Adkins, 1970 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds, International Funds, and Multi-Sector Account Portfolios | |
Vinit Agrawal, 1987 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Equity Income Fund | |
Christopher D. Alderson, 1962 Director and Vice President, T. Rowe Price International; Vice President, Price Hong Kong, Price Singapore, and T. Rowe Price Group, Inc. | President, Global Funds and International Funds; Vice President, Retirement Funds, Spectrum Funds, and Spectrum Funds II | |
Syed H. Ali, 1970 Vice President, Price Hong Kong, Price Singapore, and T. Rowe Price Group, Inc. | Vice President, International Funds | |
Kennard W. Allen, 1977 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Science & Technology Fund; Vice President, Diversified Mid-Cap Growth Fund, Global Funds, Global Technology Fund, International Funds, Mid-Cap Growth Fund, Tax-Efficient Funds, and U.S. Equity Research Fund |
56
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Francisco M. Alonso, 1978 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Small-Cap Stock Fund; Executive Vice President, Equity Funds; Vice President, New Horizons Fund, Retirement Funds, Small-Cap Value Fund, Spectrum Funds, and Spectrum Funds II | |
Paulina Amieva, 1981 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Global Funds and International Funds | |
Joseph Anastasio, 1986 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Vice President, RC Capital Markets (to 2018); Vice President, Nomura Securities International (to 2017) | Vice President, GNMA Fund and Multi-Sector Account Portfolios | |
Anil K. Andhavarapu, 1980 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, GNMA Fund and Multi-Sector Account Portfolios | |
Austin Applegate, 1974 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, State Tax-Free Funds; Vice President, Summit Municipal Funds, and Tax-Free Short-Intermediate Fund | |
R. Lee Arnold, Jr., CFA, CPA, 1970 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, Intermediate Tax-Free High Yield Fund and Tax-Free High Yield Fund; Vice President, Summit Municipal Funds and Tax-Free Income Fund | |
Malik S. Asif, 1981 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds and International Funds | |
E. Frederick Bair, CFA, CPA, 1969 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, Index Trust, International Index Fund, Real Assets Fund, and Spectrum Funds II | |
Ziad Bakri, M.D., CFA, 1980 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Health Sciences Fund; Vice President, Blue Chip Growth Fund, Global Funds, International Funds, Mid-Cap Growth Fund, New America Growth Fund, New Horizons Fund, and Tax-Efficient Funds | |
Harishankar Balkrishna, 1983 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds, Global Real Estate Fund, and International Funds | |
Colin T. Bando, CFA, 1987 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Government Money Fund, Institutional Income Funds, Intermediate Tax-Free High Yield Fund, Reserve Investment Funds, State Tax-Free Funds, Summit Income Funds, Summit Municipal Funds, Tax-Exempt Money Fund, Tax-Free High Yield Fund, and U.S. Treasury Funds | |
Sheena L. Barbosa, 1983 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Vice President, Global Funds and International Funds | |
Stephen L. Bartolini, CFA, 1977 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Inflation Protected Bond Fund, Limited Duration Inflation Focused Bond Fund, and New Income Fund; Vice President, Global Allocation Fund, Institutional Income Funds, Multi-Sector Account Portfolios, Real Assets Fund, Short-Term Bond Fund, Spectrum Funds, Total Return Fund, U.S. Bond Enhanced Index Fund, and U.S. Treasury Funds | |
Peter J. Bates, CFA, 1974 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, International Funds; Vice President, Blue Chip Growth Fund, Dividend Growth Fund, Global Funds, Growth & Income Fund, U.S. Equity Research Fund, U.S. Large-Cap Core Fund, and Value Fund | |
Jason A. Bauer, 1979 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Credit Opportunities Fund, Floating Rate Fund, High Yield Fund (serves only with respect to the High Yield Fund), Institutional Income Funds, International Funds, Multi-Sector Account Portfolios, Total Return Fund, and Value Fund | |
Luis M. Baylac, 1982 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, International Funds | |
Timothy F. Bei, 1973 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, International Funds | |
Oliver D.M. Bell, 1969 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, Global Funds and International Funds |
57
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
R. Scott Berg, CFA, 1972 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company. | Executive Vice President, Global Funds and International Funds | |
Brian W.H. Berghuis, CFA, 1958 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Mid-Cap Growth Fund; Executive Vice President, Equity Funds; Vice President, Diversified Mid-Cap Growth Fund, New America Growth Fund, New Horizons Fund, and Science & Technology Fund | |
Steve Boothe, CFA, 1977 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Co-President, Corporate Income Fund; Executive Vice President, Multi-Sector Account Portfolios; Vice President, Global Funds, Global Multi-Sector Bond Fund, Institutional Income Funds, International Funds, and New Income Fund | |
Peter I. Botoucharov, 1965 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds, International Funds, and Multi-Sector Account Portfolios | |
Tala Boulos, 1984 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds, International Funds, and Multi-Sector Account Portfolios | |
Darrell N. Braman, 1963 Vice President, Price Hong Kong, Price Singapore, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price International, T. Rowe Price Investment Services, Inc., and T. Rowe Price Services, Inc. | Vice President and Secretary, all funds | |
Brian J. Brennan, CFA, 1964 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price International, and T. Rowe Price Trust Company | President, U.S. Treasury Funds; Executive Vice President, Institutional Income Funds; Vice President, GNMA Fund, Inflation Protected Bond Fund, Limited Duration Inflation Focused Bond Fund, Multi-Sector Account Portfolios, New Income Fund, Total Return Fund, and U.S. Bond Enhanced Index Fund | |
Christopher P. Brown, Jr., CFA, 1977 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Total Return Fund; Vice President, Global Multi-Sector Bond Fund, GNMA Fund, Institutional Income Funds, International Funds, Multi-Sector Account Portfolios, New Income Fund, and U.S. Bond Enhanced Index Fund | |
Brian E. Burns, 1960 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, Floating Rate Fund, Institutional Income Funds, and Multi-Sector Account Portfolios | |
Christopher W. Carlson, 1967 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Global Technology Fund, Mid-Cap Value Fund, New Horizons Fund, and U.S. Equity Research Fund | |
Ira W. Carnahan, 1963 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, U.S. Equity Research Fund | |
Jon B. Casper, 1989 Vice President, T. Rowe Price; formerly student, The Wharton School, University of Pennsylvania (to 2016) | Vice President, Financial Services Fund | |
Sheldon Chan, 1981 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Vice President, International Funds and Multi-Sector Account Portfolios | |
Andrew Chang, 1983 Vice President, Price Singapore and T. Rowe Price Group, Inc. | Vice President, International Funds | |
William Chen, 1979 Vice President, Price Hong Kong; formerly Greater China TMT and Automation Analyst, J.P. Morgan Asset Mgmt (to 2018) | Vice President, International Funds | |
Daniel Chihorek, 1984 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Vice President, Municipal Research Analyst, GW&K Investment Management (to 2018) | Vice President, Intermediate Tax-Free High Yield Fund, State Tax-Free Funds, Summit Municipal Funds, and Tax-Free High Yield Fund | |
Paul Y. Cho, 1986 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Communications & Technology Fund | |
Carolyn Hoi Che Chu, 1974 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Vice President, Global Funds, International Funds, and Multi-Sector Account Portfolios | |
Archibald Ciganer, CFA, 1976 Director and Vice President, Price Japan; Vice President, T. Rowe Price Group, Inc. | Executive Vice President, International Funds; Vice President, Global Funds |
58
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Jerome A. Clark, CFA, 1961 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price Investment Services, Inc., and T. Rowe Price Trust Company | Co-President, Retirement Funds; Vice President, Limited Duration Inflation Focused Bond Fund and Spectrum Funds II | |
Richard N. Clattenburg, CFA, 1979 Vice President, Price Singapore, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price International, and T. Rowe Price Trust Company | Executive Vice President, Global Funds and International Funds; Vice President, Global Real Estate Fund | |
Richard A. Coghlan, PhD., 1961 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Co-President, Real Assets Fund | |
Jason T. Collins, CFA 1971 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Short-Term Bond Fund | |
M. Helena Condez, 1962 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Government Money Fund, Institutional Income Funds, TRP Reserve Funds, Short-Term Bond Fund, State Tax-Free Funds, Summit Income Funds, Summit Municipal Funds, Tax-Exempt Money Fund, and U.S. Treasury Funds | |
Michael J. Conelius, CFA, 1964 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price International, and T. Rowe Price Trust Company | Executive Vice President, Global Funds and International Funds; Vice President, Global Multi-Sector Bond Fund, Institutional Income Funds, and Multi-Sector Account Portfolios | |
Michael F. Connelly, CFA, 1977 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Floating Rate Fund, Global Multi-Sector Bond Fund, High Yield Fund (serves only with respect to the High Yield Fund), Institutional Income Funds, International Funds, and Multi-Sector Account Portfolios | |
Michael P. Daley, 1981 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Corporate Income Fund, Institutional Income Funds, Multi-Sector Account Portfolios, and Short-Term Bond Fund | |
Anne Daub, 1973 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Senior Analyst, Soros Fund Management LLC (to 2018); Senior Analyst, Citadel LLC (to 2017); Senior Analyst, Visium Asset Management LP (2016) | Vice President, Diversified Mid-Cap Growth Fund and Health Sciences Fund | |
Andrew S. Davis, 1978 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Dividend Growth Fund, Growth & Income Fund, Growth Stock Fund, International Funds, Small-Cap Stock Fund, Tax-Efficient Funds, U.S. Large-Cap Core Fund, and Value Fund | |
Vincent M. DeAugustino, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Financial Services Fund, Mid-Cap Value Fund, and Value Fund | |
Ramon R. de Castro, 1966 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, GNMA Fund and Multi-Sector Account Portfolios | |
Kimberly E. DeDominicis, 1976 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price International | Co-President, Retirement Funds, Vice President, Balanced Fund, Spectrum Funds, and Spectrum Funds II | |
Richard de los Reyes, 1975 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Co-President, Multi-Strategy Total Return Fund; Vice President, Global Funds, International Funds, Mid-Cap Value Fund, New Era Fund, and Real Assets Fund | |
Michael Della Vedova, 1969 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, International Funds; Vice President, Global Multi-Sector Bond Fund and High Yield Fund (serves only with respect to the High Yield Fund) | |
Levent Demirekler, CFA, 1974 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Short-Term Bond Fund | |
Iona Dent, CFA, 1991 Employee, T. Rowe Price; formerly Associate, Equity Research, Deutsche Bank (to 2018) | Vice President, Global Funds and International Funds | |
Amit S. Deshpande, CFA, FRM, 1972 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Head of Investment Risk, Charles Schwab Investment Management (to 2017) | Vice President, U.S. Bond Enhanced Index Fund | |
Charles Devereux, 1969 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Head Analyst, Henderson Global Investors (to 2017) | Vice President, High Yield Fund (serves only with respect to the U.S. High Yield Fund) | |
Eric L. DeVilbiss, CFA, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Blue Chip Growth Fund, Diversified Mid-Cap Growth Fund, Growth Stock Fund, New America Growth Fund, and New Horizons Fund |
59
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Carson R. Dickson, CFA, CPA, 1976 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Credit Opportunities Fund and High Yield Fund (serves only with respect to the High Yield Fund) | |
Maria Elena Drew, 1973 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International; formerly Executive Director, Goldman Sachs Asset Management (to 2017) | Vice President, Global Funds and International Funds | |
Shawn T. Driscoll, 1975 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, New Era Fund; Vice President, Capital Appreciation Fund, Global Funds, Growth & Income Fund, Growth Stock Fund, International Funds, Mid-Cap Growth Fund, New America Growth Fund, Real Assets Fund, and U.S. Large-Cap Core Fund | |
Greg Dunham, CFA, 1974 Vice President, T. Rowe Price and T. Rowe Price Group | Vice President, Blue Chip Growth Fund, Communications & Technology Fund, Global Technology Fund, Growth Stock Fund, New Horizons Fund, Science & Technology Fund, and Tax-Efficient Funds | |
Alan S. Dupski, CPA, 1982 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly, Assistant Chief Accountant, Division of Investment Management, U.S. Securities and Exchange Commission (to 2015) | Principal Financial Officer, Vice President, and Treasurer, all funds | |
Donald J. Easley, CFA, 1971 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, Diversified Mid-Cap Growth Fund; Vice President, Mid-Cap Growth Fund, New Era Fund, Tax-Efficient Funds, and U.S. Equity Research Fund | |
Bridget A. Ebner, 1970 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Global Funds and International Funds | |
David J. Eiswert, CFA, 1972 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, Global Funds and International Funds; Vice President, Communications & Technology Fund, Global Technology Fund, Growth Stock Fund, and Science & Technology Fund | |
Sarah J. Engle, 1979 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Intermediate Tax-Free High Yield Fund, State Tax-Free Funds, Summit Municipal Funds, Tax-Free High Yield Fund, and Tax-Free Income Fund | |
Devon Everhart, CFA, 1977 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Senior Research Analyst, Henderson Global Investors (to 2017) | Vice President, High Yield Fund (serves only with respect to the U.S. High Yield Fund) | |
Matthew Fanandakis, CFA, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Fixed Income Research Analyst, Henderson Global Investors (to 2017) | Vice President, High Yield Fund (serves only with respect to the U.S. High Yield Fund) | |
Joseph B. Fath, CPA, 1971 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Growth Stock Fund; Vice President, Communications & Technology Fund, Growth & Income Fund, Mid-Cap Growth Fund, U.S. Equity Research Fund, and U.S. Large-Cap Core Fund | |
Christopher Faulkner-MacDonagh, 1969 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Co-President, Real Assets Fund | |
Dawei Feng, 1979 Vice President, Price Hong Kong and T. Rowe Price Group, Inc.; formerly Head of China consumer in Equity Research, Credit Lyonnais Asia-Pacific (to 2018) | Vice President, International Funds | |
Ryan W. Ferro, 1985 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, International Funds | |
Stephen M. Finamore, CFA, 1976 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Floating Rate Fund, High Yield Fund (serves only with respect to the High Yield Fund), Institutional Income Funds, and Multi-Sector Account Portfolios | |
Mark S. Finn, CFA, CPA, 1963 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Value Fund; Executive Vice President, Equity Funds; Vice President, Balanced Fund, Equity Income Fund, Global Funds, Growth & Income Fund, International Funds, Mid-Cap Value Fund, New Era Fund, Retirement Funds, Spectrum Funds, Spectrum Funds II, U.S. Equity Research Fund, and U.S. Large-Cap Core Fund | |
60
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Quentin S. Fitzsimmons, 1968 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International; formerly Portfolio Manager, Royal Bank of Scotland Group (to 2015) | Vice President, Global Multi-Sector Bond Fund and International Funds | |
Alisa Fiumara-Yoch, CFA, 1974 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, State Tax-Free Funds and Tax-Free Short-Intermediate Fund | |
Christopher T. Fortune, 1973 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Financial Services Fund, Small-Cap Stock Fund, and Small-Cap Value Fund | |
Daniel Fox, CFA, 1985 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Credit Opportunities Fund and High Yield Fund (serves only with respect to the High Yield Fund) | |
Jon M. Friar, 1982 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Capital Appreciation Fund, Dividend Growth Fund, Financial Services Fund, Growth Stock Fund, New Horizons Fund, and U.S. Equity Research Fund | |
Alexa M. Gagliardi, 1988 Vice President, T. Rowe Price and T. Rowe Price Trust Company | President, Index Trust; Vice President, International Index Fund | |
Melissa C. Gallagher, 1974 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Health Sciences Fund and International Funds | |
George Gao, 1979 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Quantitative Management Funds | |
Stephanie A. Gentile, CFA, 1956 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Government Money Fund, Institutional Income Funds, TRP Reserve Funds, Short-Term Bond Fund, State Tax-Free Funds, Summit Income Funds, Summit Municipal Funds, Tax-Exempt Money Fund, and U.S. Treasury Funds | |
Justin T. Gerbereux, CFA, 1975 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, Floating Rate Fund, High Yield Fund (serves only with respect to the High Yield Fund), Institutional Income Funds, International Funds, and Multi-Sector Account Portfolios | |
Aaron Gifford, CFA, 1987 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Strategist, Morgan & Stanley & Co. LLC (to 2017) | Vice President, Global Funds, International Funds, and Multi-Sector Account Portfolios | |
John R. Gilner, 1961 Chief Compliance Officer and Vice President, T. Rowe Price; Vice President, T. Rowe Price Group, Inc. and T. Rowe Price Investment Services, Inc. | Chief Compliance Officer, all funds | |
David R. Giroux, CFA, 1975 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Capital Appreciation Fund; Vice President, Floating Rate Fund, Institutional Income Funds, Multi-Sector Account Portfolios, Multi-Strategy Total Return Fund, Retirement Funds, Spectrum Funds, and Spectrum Funds II | |
Oliver Gjoneski, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Total Return Fund | |
Gregg Gola, CFA, 1965 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Trader and Analyst, Henderson Global Investors (to 2017) | Vice President, High Yield Fund (serves only with respect to the U.S. High Yield Fund) | |
Vishnu V. Gopal, 1979 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Vice President, International Funds | |
Joel Grant, 1978 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, International Funds and Value Fund | |
Gary J. Greb, 1961 Vice President, T. Rowe Price, T. Rowe Price International, and T. Rowe Trust Company | Vice President, all funds | |
Paul D. Greene II, 1978 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Blue Chip Growth Fund, Capital Appreciation Fund, Communications & Technology Fund, Global Funds, Global Technology Fund, Growth & Income Fund, Growth Stock Fund, International Funds, Science & Technology Fund, U.S. Equity Research Fund, and U.S. Large-Cap Core Fund | |
Benjamin Griffiths, CFA, 1977 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds and International Funds | |
Michael J. Grogan, CFA, 1971 Vice President, T. Rowe Price and T. Rowe Price Group Inc. | Vice President, Corporate Income Fund, Institutional Income Funds, and Multi-Sector Account Portfolios |
61
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Gianluca Guicciardi, 1983 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, International Funds | |
Amanda B. Hall, CFA, 1985 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds | |
John Hall, 1977 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Health Sciences Fund and Small-Cap Stock Fund | |
Richard L. Hall, 1979 Vice President, T. Rowe Price and T. Rowe Price Group Inc. | Vice President, Global Funds, International Funds, and Multi-Sector Account Portfolios | |
Nabil Hanano, CFA, 1984 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds and International Funds | |
Geoffrey M. Hardin, 1971 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Inflation Protected Bond Fund, Limited Duration Inflation Focused Bond Fund, New Income Fund, and U.S. Treasury Funds | |
Robert L. Harlow, CAIA, CFA, 1986 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Global Allocation Fund | |
Ryan S. Hedrick, CFA, 1980 Vice President, T. Rowe Price and T. Rowe Price Group Inc. | Vice President, Blue Chip Growth Fund, Dividend Growth Fund, Equity Income Fund, Growth & Income Fund, Mid-Cap Value Fund, New Era Fund, Small-Cap Stock Fund, Small-Cap Value Fund, U.S. Equity Research Fund, U.S. Large-Cap Core Fund, and Value Fund | |
Charles B. Hill, CFA, 1961 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Tax-Free Short-Intermediate Fund; Executive Vice President, State Tax-Free Funds and Summit Municipal Funds; Vice President, Short-Term Bond Fund, Tax-Free High Yield Fund, and Tax-Free Income Fund | |
Daniel B. Hirsch, CFA, 1985 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, International Funds | |
Ann M. Holcomb, CFA, 1972 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Co-President, U.S. Equity Research Fund; Executive Vice President, Equity Funds | |
Jeffrey Holford, Ph.D., ACA, 1972 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Managing Director, Jeffries Financial Group (to 2018) | Vice President, Global Funds, Health Sciences Fund, and International Funds | |
Matthew A. Howell, IMC, 1974 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Real Assets Fund | |
Thomas J. Huber, CFA, 1966 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Dividend Growth Fund; Vice President, Blue Chip Growth Fund and Real Estate Fund | |
Stefan Hubrich, Ph.D., CFA, 1974 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Co-President, Multi-Strategy Total Return Fund; Vice President, Global Allocation Fund, Global Funds, and International Funds | |
Arif Husain, CFA, 1972 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, International Funds; Vice President, Global Funds, Global Multi-Sector Bond Fund, Multi-Sector Account Portfolios, Multi-Strategy Total Return Fund, Retirement Funds, Spectrum Funds, and Spectrum Funds II | |
Jon R. Hussey, CFA, 1982 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly student, University of Chicago Booth School of Business (to 2016) | Vice President, Equity Income Fund, New Era Fund, Small-Cap Value Fund, and Value Fund | |
Michael T. Hyland, 1979 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Credit Opportunities Fund and High Yield Fund (serves only with respect to the High Yield Fund) | |
Hiromasa Ikeda, 1971 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Vice President, International Funds | |
Tetsuji Inoue, 1971 Vice President, Price Hong Kong, T. Rowe Price Group, Inc., and T. Rowe Price International | Vice President, International Funds | |
Michael D. Jacobs, 1971 Vice President, Price Japan, T. Rowe Price Group, Inc., and T. Rowe Price International | Vice President, International Funds |
62
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Andrew G. Jacobs van Merlen, 1978 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price International | Co-President, Retirement Funds | |
Randal S. Jenneke, 1971 Vice President, T. Rowe Price Group, Inc. | Vice President, Global Funds and International Funds | |
Prashant G. Jeyaganesh, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, Quantitative Management Funds; Vice President, International Funds | |
Rachel D. Jonas, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Analyst, Sands Capital Management (to 2016) | Vice President, Health Sciences Fund | |
Dylan Jones, CFA, 1971 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Intermediate Tax-Free High Yield Fund, State Tax-Free Funds, Summit Municipal Funds, and Tax-Free Short-Intermediate Fund | |
Nina P. Jones, CPA, 1980 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Global Real Estate Fund and Real Estate Fund; Vice President, Capital Appreciation Fund, Financial Services Fund, Global Funds, International Funds, Mid-Cap Value Fund, and Real Assets Fund | |
Keir R. Joyce, CFA, 1972 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, GNMA Fund; Executive Vice President and Vice President, Multi-Sector Account Portfolios; Vice President, Global Multi-Sector Bond Fund, Institutional Income Funds, Short-Term Bond Fund, and U.S. Treasury Funds | |
Vidya Kadiyam, 1980 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Capital Appreciation Fund and Quantitative Management Funds | |
Yoichiro Kai, 1973 Vice President, Price Singapore, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds and International Funds | |
Jacob H. Kann, CFA, 1987 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, International Funds | |
Jai Kapadia, 1982 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Vice President, Global Funds, Global Real Estate Fund, and International Funds | |
Andrew J. Keirle, 1974 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, International Funds and Multi-Sector Account Portfolios; Vice President, Global Funds and Global Multi-Sector Bond Fund | |
Shinwoo Kim, 1977 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Equity Income Fund and New Era Fund | |
Takanori Kobayashi, 1981 Vice President, Price Japan, T. Rowe Price Group, Inc., and T. Rowe Price International; formerly Research Analyst, Allianz Global Investors (to 2017) | Vice President, Financial Services Fund, Global Real Estate Fund, and International Funds | |
Steven M. Kohlenstein, CFA, 1987 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, GNMA Fund, Multi-Sector Account Portfolios, and Short-Term Bond Fund | |
Paul J. Krug, CPA, 1964 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, all funds | |
Christopher J. Kushlis, CFA, 1976 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds, International Funds, and Multi-Sector Account Portfolios | |
Michael Lambe, CFA, 1977 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Corporate Income Fund, Institutional Income Funds, and Multi-Sector Account Portfolios | |
Robert M. Larkins, CFA, 1973 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, U.S. Bond Enhanced Index Fund; Executive Vice President, Institutional Income Funds; Vice President, Balanced Fund, Global Allocation Fund, New Income Fund, and Total Return Fund | |
Marcy M. Lash, 1963 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Intermediate Tax-Free High Yield Fund, State Tax-Free Funds, Summit Municipal Funds, Tax-Free High Yield Fund, Tax-Free Income Fund, and Tax-Free Short-Intermediate Fund | |
Shengrong Lau, 1982 Vice President, Price Singapore and T. Rowe Price Group, Inc. | Vice President, International Funds |
63
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Mark J. Lawrence, 1970 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds and International Funds | |
Matthew Lawton, CFA, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Corporate Income Fund, Institutional Income Funds, and New Income Fund | |
Wyatt A. Lee, CFA, 1971 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Co-President, Retirement Funds; Vice President, Balanced Fund, Limited Duration Inflation Focused Bond Fund, Spectrum Funds, and Spectrum Funds II | |
Yongheon Lee, 1975 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Institutional Income Funds, Total Return Fund, and U.S. Bond Enhanced Index Fund | |
Alan D. Levenson, Ph.D., 1958 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, GNMA Fund, Government Money Fund, Inflation Protected Bond Fund, Institutional Income Funds, Multi-Sector Account Portfolios, New Income Fund, TRP Reserve Funds, State Tax-Free Funds, Summit Income Funds, Summit Municipal Funds, Tax-Exempt Money Fund, and U.S. Treasury Funds | |
John D. Linehan, CFA, 1965 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Equity Income Fund; Executive Vice President, Equity Funds; Vice President, Multi-Strategy Total Return Fund and Value Fund | |
Jacqueline L. Liu, 1979 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Vice President, Communications & Technology Fund, Global Technology Fund, International Funds, and Science & Technology Fund | |
Gregory Locraft, 1971 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Financial Services Fund | |
Johannes Loefstrand, 1988 Vice President, and T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds and International Funds | |
Kevin P. Loome, CFA, 1967 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Head of U.S. Credit, Henderson Global Investors (to 2017) | Executive Vice President, High Yield Fund (serves only with respect to the U.S. High Yield Fund) | |
Anh Lu, 1968 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Executive Vice President, International Funds; Vice President, Global Funds | |
Joseph K. Lynagh, CFA, 1958 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Government Money Fund, TRP Reserve Funds, Summit Income Funds, and Tax-Exempt Money Fund; Executive Vice President, Institutional Income Funds, Short-Term Bond Fund, State Tax-Free Funds, Summit Municipal Funds, and U.S. Treasury Funds; Vice President, Tax-Free Short-Intermediate Fund | |
James T. Lynch, CFA, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, State Tax-Free Funds, Summit Municipal Funds, Tax-Free Income Fund, and Tax-Free Short-Intermediate Fund | |
Matt Mahon, 1985 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. formerly student, The Wharton School, University of Pennsylvania (to 2016) | Vice President, Diversified Mid-Cap Growth Fund, Equity Income Fund, and New Era Fund | |
Navneesh. Malhan, CFA, 1980 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Quantitative Management Funds | |
Konstantine B. Mallas, 1963 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Tax-Free Income Fund; Executive Vice President, State Tax-Free Funds and Summit Municipal Funds; Vice President, Intermediate Tax-Free High Yield Fund and Tax-Free High Yield Fund | |
Sebastien Mallet, 1974 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, Global Funds; Vice President, International Funds | |
Robert J. Marcotte, 1962 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Global Real Estate Fund, Mid-Cap Growth Fund, and Small-Cap Stock Fund | |
Jennifer Martin, 1972 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Communications & Technology Fund, Global Funds, Global Technology Fund, and International Funds | |
Daniel Martino, CFA, 1974 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Communications & Technology Fund, Equity Income Fund, Global Funds, Growth Stock Fund, and Value Fund | |
Ryan Martyn, 1979 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, International Funds and New Era Fund |
64
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
George A. Marzano, 1980 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Blue Chip Growth Fund and Equity Income Fund | |
Paul M. Massaro, CFA, 1975 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Floating Rate Fund and Institutional Income Funds; Executive Vice President, Multi-Sector Account Portfolios; Vice President, Capital Appreciation Fund and High Yield Fund (serves only with respect to the High Yield Fund) | |
Reilly Kevin McCarthy, 1991 Assistant Vice President, T. Rowe Price | Assistant Vice President, GNMA Fund | |
Andrew C. McCormick, 1960 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, High Yield Fund and Multi-Sector Account Portfolios | |
Michael J. McGonigle, 1966 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Floating Rate Fund, Institutional Income Funds, and Multi-Sector Account Portfolios | |
Hugh D. McGuirk, CFA, 1960 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, State Tax-Free Funds and Summit Municipal Funds; Vice President, Intermediate Tax-Free High Yield Fund, Tax-Free High Yield Fund, Tax-Free Income Fund, and Tax-Free Short-Intermediate Fund | |
Heather K. McPherson, CPA, 1967 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, Equity Funds and Mid-Cap Value Fund; Vice President, Equity Income Fund, Global Technology Fund, Growth & Income Fund, New Era Fund, U.S. Large-Cap Core Fund, and Value Fund | |
Sean P. McWilliams, 1988 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Global Allocation Fund | |
Cheryl A. Mickel, CFA, 1967 Director and Vice President, T. Rowe Price Trust Company; Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Short-Term Bond Fund; Vice President, Government Money Fund, Institutional Income Funds, TRP Reserve Funds, Summit Income Funds, Summit Municipal Funds, and U.S. Treasury Funds | |
Raymond A. Mills, Ph.D., CFA, 1960 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price International, and T. Rowe Price Trust Company | Executive Vice President, Global Funds and International Funds; Vice President, Balanced Fund, Global Real Estate Fund, and Spectrum Funds II | |
Jihong Min, 1979 Vice President, Price Singapore and T. Rowe Price Group, Inc. | Vice President, International Funds | |
Joseph R. Mlinac, CFA, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Financial Services Fund | |
Eric C. Moffett, 1974 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Executive Vice President, International Funds; Vice President, Global Funds | |
Ivan Morozov, CFA, 1987 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, International Funds and Multi-Sector Account Portfolios | |
Samy B. Muaddi, CFA, 1984 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, International Funds and Multi-Sector Account Portfolios; Vice President, Corporate Income Fund, Global Multi-Sector Bond Fund, and Institutional Income Funds | |
Tobias F. Mueller, CFA, 1980 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds, Global Technology Fund, International Funds, and Science & Technology Fund | |
Rinald Murataj, Ph.D., 1989 Employee, T. Rowe Price; formerly student and Alpha Researcher, Cornell University (to 2018) | Vice President, Quantitative Management Funds | |
James M. Murphy, CFA, 1967 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Intermediate Tax-Free High Yield Fund and Tax-Free High Yield Fund; Vice President, State Tax-Free Funds, Summit Municipal Funds, and Tax-Free Income Fund | |
Linda A. Murphy, 1959 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Intermediate Tax-Free High Yield Fund, State Tax-Free Funds, Summit Municipal Funds, and Tax-Free High Yield Fund | |
Sudhir Nanda, Ph.D., CFA, 1959 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Quantitative Management Funds; Vice President, Capital Appreciation Fund, Diversified Mid-Cap Growth Fund, and Global Funds | |
Joshua Nelson, 1977 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price International, and T. Rowe Price Trust Company | Co-President, U.S. Equity Research Fund; Executive Vice President, Equity Funds, Global Funds, and International Funds | |
65
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Philip A. Nestico, 1976 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Communications & Technology Fund, Global Real Estate Fund, International Funds, and Real Estate Fund | |
Michael Niedzielski, 1979 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, International Funds | |
Sridhar Nishtala, 1975 Director and Vice President, Price Singapore and T. Rowe Price Group, Inc. | Vice President, International Funds | |
Jason Nogueira, CFA, 1974 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, Global Funds and International Funds; Vice President, Growth & Income Fund, Mid-Cap Growth Fund, U.S. Equity Research Fund, and U.S. Large-Cap Core Fund | |
Alexander S. Obaza, 1981 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, Corporate Income Fund, Institutional Income Funds, Multi-Sector Account Portfolios, and Short-Term Bond Fund | |
Christian M. O’Neill, 1969 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Diversified Mid-Cap Growth Fund, New Era Fund, and Value Fund | |
Kenneth A. Orchard, 1975 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | President, Global Multi-Sector Bond Fund; Executive Vice President, International Funds; Vice President, Global Funds, Multi-Sector Account Portfolios, and Total Return Fund | |
Curt J. Organt, CFA, 1968 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Equity Funds, International Funds, New Horizons Fund, Small-Cap Stock Fund, and Small-Cap Value Fund | |
Paul T. O’Sullivan, 1973 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, International Funds | |
Oluwaseun A. Oyegunle, CFA, 1984 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds and International Funds | |
Sebastien Page, 1977 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Balanced Fund, Multi-Strategy Total Return Fund, Real Assets Fund, Retirement Funds, Spectrum Funds, and Spectrum Funds II | |
Robert A. Panariello, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Global Allocation Fund, Real Assets Fund, Retirement Funds, Spectrum Funds, and Spectrum Funds II | |
Gonzalo Pangaro, CFA, 1968 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, Global Funds and International Funds | |
Miso Park, CFA, 1982 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Corporate Income Fund, Institutional Income Funds, and Multi-Sector Account Portfolios | |
Dante Pearson, 1990 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Equity Analyst Intern, MFS (to 2016) | Vice President, Global Real Estate Fund and Real Estate Fund | |
Charles G. Pepin, 1966 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Small-Cap Stock Fund | |
Donald J. Peters, 1959 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Diversified Mid-Cap Growth Fund and Tax-Efficient Funds | |
Jason B. Polun, CFA, 1974 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Co-President, U.S. Equity Research Fund; Executive Vice President, Equity Funds | |
Adam Poussard, 1984 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Capital Appreciation Fund and Health Sciences Fund | |
Jordan S. Pryor, 1991 Vice President, T. Rowe Price | Vice President, Quantitative Management Funds | |
Larry J. Puglia, CFA, CPA, 1960 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Blue Chip Growth Fund; Executive Vice President, Equity Funds; Vice President, Balanced Fund and Spectrum Funds II | |
John C. Qian, 1989 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly summer intern, T. Rowe Price (to 2016) | Vice President, New Era Fund | |
Robert T. Quinn, Jr., 1972 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Small-Cap Stock Fund and Small-Cap Value Fund |
66
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Preeta Ragavan, CFA, 1987 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Equity Income Fund, Global Real Estate Fund, Real Estate Fund, and Small-Cap Value Fund | |
Vivek Rajeswaran, 1985 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Blue Chip Growth Fund, International Funds, Mid-Cap Growth Fund, New Era Fund, and Small-Cap Value Fund | |
Shannon Hofher Rauser, 1987 Assistant Vice President, T. Rowe Price | Assistant Secretary, all funds | |
Rodney M. Rayburn, CFA, 1970 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Credit Opportunities Fund; Executive Vice President, High Yield Fund (serves only with respect to the High Yield Fund) and Institutional Income Funds | |
Todd Reese, 1990 Employee, T. Rowe Price; formerly Investment Analyst, Trian Fund Management (to 2016) | Vice President, International Funds | |
Michael F. Reinartz, CFA, 1973 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Executive Vice President, Short-Term Bond Fund; Vice President, Inflation Protected Bond Fund and Limited Duration Inflation Focused Bond Fund | |
Jane K. Rivers, CFA, 1979 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Real Estate Fund | |
Melanie A. Rizzo, 1982 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Equity Income Fund, International Funds, and Mid-Cap Value Fund | |
Theodore E. Robson, CFA, 1965 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, Corporate Income Fund, Institutional Income Funds, Multi-Sector Account Portfolios, and Real Estate Fund | |
Alexander P. Roik, CFA, 1991 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, New Horizons Fund, Small-Cap Stock Fund, and Small-Cap Value Fund | |
Jeffrey Rottinghaus, CPA, 1970 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Growth & Income Fund and U.S. Large-Cap Core Fund; Vice President, Capital Appreciation Fund, Dividend Growth Fund, and U.S. Equity Research Fund | |
David L. Rowlett, CFA, 1975 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Blue Chip Growth Fund, Growth & Income Fund, Growth Stock Fund, International Funds, New America Growth Fund, and U.S. Large-Cap Core Fund | |
Brian A. Rubin, CPA, 1974 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, Credit Opportunities Fund, Floating Rate Fund, High Yield Fund (serves only with respect to the High Yield Fund), Institutional Income Funds, and Multi-Sector Account Portfolios | |
Federico Santilli, CFA, 1974 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, Global Funds and International Funds | |
Nikolaj Schmidt, 1975 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, International Funds | |
Sebastian Schrott, 1977 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds and International Funds | |
Emily C. Scudder, CFA, CPA, 1985 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Global Technology Fund and Science & Technology Fund | |
Michael K. Sewell, 1982 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, Inflation Protected Bond Fund and Limited Duration Inflation Focused Bond Fund; Vice President, Multi-Sector Account Portfolios and U.S. Treasury Funds | |
Chen Shao, 1980 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Government Money Fund, Institutional Income Funds, TRP Reserve Funds, Short-Term Bond Fund, State Tax-Free Funds, Summit Income Funds, Summit Municipal Funds, Tax-Exempt Money Fund, and U.S. Treasury Funds | |
Thomas A. Shelmerdine, 1977 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, New Era Fund | |
Bin Shen, CFA, 1987 Vice President, T. Rowe Price International | Vice President, Global Funds and International Funds | |
John C.A. Sherman, 1969 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Global Funds and International Funds |
67
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Charles M. Shriver, CFA, 1967 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price International, and T. Rowe Price Trust Company | Co-President, Balanced Fund, Global Allocation Fund, Spectrum Funds, and Spectrum Funds II; Vice President, Real Assets Fund and Retirement Funds | |
Elliot J. Shue, CFA, 1984 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Corporate Income Fund | |
Farris G. Shuggi, 1984 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, Quantitative Management Funds; Vice President, Capital Appreciation Fund, Equity Income Fund, and Small-Cap Value Fund | |
Weijie Si, 1983 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Dividend Growth Fund, Real Estate Fund, Tax-Efficient Funds, and Value Fund | |
Jeanny Silva, 1975 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Corporate Income Fund, Government Money Fund, Institutional Income Funds, Multi-Sector Account Portfolios, TRP Reserve Funds, State Tax-Free Funds, Summit Income Funds, Summit Municipal Funds, Tax-Exempt Money Fund, and U.S. Treasury Funds | |
Neil Smith, 1972 Vice President, Price Hong Kong, Price Japan, Price Singapore, T. Rowe Price Group, Inc., and T. Rowe Price International | President, International Index Fund; Vice President, Index Trust | |
Tyrone Smith, 1977 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Fixed Income Credit Trader, Aberdeen Asset Management Inc. (to 2018) | Vice President, Short-Term Bond Fund | |
Matthew J. Snowling, CFA, 1971 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Equity Income Fund, Financial Services Fund, Tax-Efficient Funds, and U.S. Equity Research Fund | |
Brian Solomon, CFA, 1986 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Real Estate Fund | |
Gabriel Solomon, 1977 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Financial Services Fund; Vice President, Capital Appreciation Fund, Dividend Growth Fund, Global Funds, Growth & Income Fund, International Funds, Mid-Cap Value Fund, and U.S. Large-Cap Core Fund | |
Scott D. Solomon, CFA, 1981 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Corporate Income Fund, Global Funds, and International Funds | |
Joshua K. Spencer, CFA, 1973 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, New Horizons Fund; Vice President, Global Funds, Global Technology Fund, International Funds, Mid-Cap Growth Fund, Science & Technology Fund, and Small-Cap Stock Fund | |
Douglas D. Spratley, CFA, 1969 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, Government Money Fund, Institutional Income Funds, TRP Reserve Funds, Short-Term Bond Fund, State Tax-Free Funds, Summit Income Funds, Summit Municipal Funds, Tax-Exempt Money Fund, and U.S. Treasury Funds | |
David Stanley, 1963 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, International Funds and Multi-Sector Account Portfolios | |
James Stillwagon, 1982 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Partner, Cat Rock Capital (to 2016) | President, Communications & Technology Fund; Vice President, Equity Income Fund | |
Guido F. Stubenrauch, CFA, 1970 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Balanced Fund, Retirement Funds, Spectrum Funds, and Spectrum Funds II | |
Saurabh Sud, CFA, 1985 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Senior Vice President at PIMCO (to 2018) | Executive Vice President, International Funds; Vice President, Global Multi-Sector Bond Fund and Total Return Fund | |
Taymour R. Tamaddon, CFA, 1976 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Executive Vice President, Equity Funds; Vice President, Blue Chip Growth Fund, Capital Appreciation Fund, Global Funds, Growth Stock Fund, Health Sciences Fund, International Funds, and New America Growth Fund | |
Ju Yen Tan, 1972 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Multi-Sector Bond Fund, Institutional Income Funds, International Funds, and Multi-Sector Account Portfolios | |
Sin Dee Tan, CFA, 1979 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, International Funds |
68
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Timothy G. Taylor, CFA, 1975 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, State Tax-Free Funds, Tax-Free High Yield Fund, and Tax-Free Income Fund | |
Christopher J. Temple, CFA, 1978 Vice President, T. Rowe Price | Vice President, Inflation Protected Bond Fund, Institutional Income Funds, Limited Duration Inflation Focused Bond Fund, Total Return Fund, and U.S. Treasury Funds | |
Dean Tenerelli, 1964 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, International Funds; Vice President, Global Funds | |
Craig A. Thiese, 1975 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price International | Vice President, Index Trust, International Index Fund, New America Growth Fund, and New Era Fund | |
Robert D. Thomas, 1971 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Corporate Income Fund, Multi-Sector Account Portfolios, and Summit Municipal Funds | |
Siby Thomas, 1979 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, International Funds and Multi-Sector Account Portfolios | |
Toby M. Thompson, CAIA, CFA, 1971 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price International, and T. Rowe Price Trust Company | Co-President, Balanced Fund, Global Allocation Fund, Spectrum Funds, and Spectrum Funds II | |
Justin Thomson, 1968 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, International Funds; Vice President, Multi-Strategy Total Return Fund, New Horizons Fund, Retirement Funds, Spectrum Funds, and Spectrum Funds II | |
Reena Tilva, CFA, 1981 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Senior Vice President, Non-Investment Grade Credit Group, Neuberger Berman (to 2017) | Vice President, Credit Opportunities Fund and High Yield Fund (serves only with respect to the High Yield Fund) | |
Mitchell J.K. Todd, 1974 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Financial Services Fund | |
Michael J. Trivino, 1981 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Credit Opportunities Fund, Floating Rate Fund, High Yield Fund (serves only with respect to the High Yield Fund), Institutional Income Funds, and Multi-Sector Account Portfolios | |
Susan G. Troll, CPA, 1966 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Financial Services Fund, Global Multi-Sector Bond Fund, Inflation Protected Bond Fund, Institutional Income Funds, Limited Duration Inflation Focused Bond Fund, and New Income Fund | |
Wesley Ross Trowbridge, 1987 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly student, The University of Chicago Booth School of Business (to 2017) | Vice President, Corporate Income Fund and Multi-Sector Account Portfolios | |
Alan Tu, 1985 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, Global Technology Fund; Vice President, Blue Chip Growth Fund, New Horizons Fund, Science & Technology Fund, and Tax-Efficient Funds | |
James A. Tzitzouris, Jr., Ph.D., 1974 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Retirement Funds | |
Ken D. Uematsu, CFA, 1966 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, Equity Funds, International Index Fund, and U.S. Equity Research Fund | |
Mark J. Vaselkiv, 1958 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Executive Vice President, High Yield Fund (serves only with respect to the High Yield Fund), International Funds, and Multi-Sector Account Portfolios; Vice President, Balanced Fund, Floating Rate Fund, Multi-Strategy Total Return Fund, Retirement Funds, Spectrum Funds, and Spectrum Funds II | |
Pavel Vedrov, 1990 Employee, T. Rowe Price | Vice President, Global Real Estate Fund | |
Eric L. Veiel, CFA, 1972 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, Global Funds |
69
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Rupinder Vig, 1979 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International; formerly Partner, Egerton Capital (to 2016) | Vice President, Global Funds and International Funds | |
Willem Visser, 1979 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International; formerly Investment Analyst, NN Investment Partners (to 2017) | Vice President, International Funds and Multi-Sector Account Portfolios | |
Keswaralingam Visuvalingam, 1968 Vice President, T. Rowe Price Group, Inc. | Vice President, International Funds | |
Erik M. von Heijne, CFA, 1990 Vice President, T. Rowe Price | Vice President, Quantitative Management Funds | |
Chris Vost, 1989 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, International Funds | |
Zenon Voyiatzis, 1971 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Financial Services Fund, Global Funds, and International Funds | |
Verena E. Wachnitz, CFA, 1978 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Executive Vice President, International Funds; Vice President, Communications & Technology Fund and Global Funds | |
Lauren T. Wagandt, 1984 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Co-President, Corporate Income Fund; Vice President, Institutional Income Funds, Multi-Sector Account Portfolios, and U.S. Bond Enhanced Index Fund | |
J. David Wagner, CFA, 1974 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Small-Cap Value Fund; Vice President, Equity Funds, Mid-Cap Value Fund, New Horizons Fund, and Small-Cap Stock Fund | |
John F. Wakeman, 1962 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Executive Vice President, Mid-Cap Growth Fund; Vice President, Diversified Mid-Cap Growth Fund, Equity Funds, and U.S. Equity Research Fund, | |
David J. Wallack, 1960 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | President, Mid-Cap Value Fund; Vice President, International Funds and New Era Fund | |
Anthony B. Wang, 1989 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly student, Harvard Business School (to 2017) | Vice President, Global Technology Fund and Science & Technology Fund | |
Dai Wang, 1989 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Vice President, Global Funds and International Funds | |
Megan Warren, 1968 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price Retirement Plan Services, Inc., T. Rowe Price Services, Inc., and T. Rowe Price Trust Company; formerly Executive Director, JPMorgan Chase (to 2017) | Vice President, all funds | |
Hiroshi Watanabe, CFA, 1975 Director and Vice President, Price Japan; Vice President, T. Rowe Price Group, Inc. | Vice President, International Funds | |
Thomas H. Watson, 1977 Director and Vice President, T. Rowe Price Trust Company; Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Co-President, U.S. Equity Research Fund; Executive Vice President, Equity Funds; Vice President, Global Technology Fund, New America Growth Fund, and Science & Technology Fund | |
Michael T. Wehn, 1984 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Index Trust and International Index Fund | |
Mark R. Weigman, CFA, CIC, 1962 Vice President, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price Trust Company | Vice President, Tax-Efficient Funds | |
Justin P. White, 1981 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | President, New America Growth Fund; Vice President, Blue Chip Growth Fund, Communications & Technology Fund, Growth Stock Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, and U.S. Equity Research Fund | |
Christopher S. Whitehouse, 1972 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Communications & Technology Fund and Global Funds |
70
Name, Year
of Birth, and Principal Occupation(s) | Position(s) Held With Fund(s) | |
Bineesha Wickremarachchi, CFA, 1980 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Corporate Income Fund, Institutional Income Funds, and Multi-Sector Account Portfolios | |
Tamara P. Wiggs, 1979 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Capital Appreciation Fund, Financial Services Fund, and Value Fund | |
Rebecca Willey, 1987 Assistant Vice President, T. Rowe Price | Assistant Vice President, Floating Rate Fund, Institutional Income Funds, and Multi-Sector Account Portfolios | |
Clive M. Williams, 1966 Vice President, Price Hong Kong, Price Singapore, T. Rowe Price, T. Rowe Price Group, Inc., and T. Rowe Price International | Vice President, International Funds | |
John M. Williams, 1982 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Capital Appreciation Fund, Dividend Growth Fund, and Mid-Cap Value Fund | |
J. Zachary Wood, CFA, 1972 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Real Assets Fund | |
Jon D. Wood, CFA, 1979 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Dividend Growth Fund, Health Sciences Fund, and Value Fund | |
Ashley R. Woodruff, CFA, 1979 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Capital Appreciation Fund, Diversified Mid-Cap Growth Fund, Mid-Cap Growth Fund, New America Growth Fund, and New Horizons Fund | |
J. Howard Woodward, CFA, 1974 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Corporate Income Fund, Global Multi-Sector Bond Fund, Institutional Income Funds, International Funds, and Multi-Sector Account Portfolios | |
Rouven J. Wool-Lewis, Ph.D., 1973 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, Blue Chip Growth Fund, Diversified Mid-Cap Growth Fund, Health Sciences Fund, Small-Cap Stock Fund, and U.S. Equity Research Fund | |
Nina Xu, 1987 Vice President, T. Rowe Price | Vice President, Health Sciences Fund and Tax-Efficient Funds | |
Marta Yago, 1977 Vice President, T. Rowe Price Group, Inc. and T. Rowe Price International | Vice President, Global Funds, Global Real Estate Fund, and International Funds | |
David A. Yatzeck, 1981 Vice President, T. Rowe Price and T. Rowe Price Group | Vice President, Credit Opportunities Fund | |
Benjamin T. Yeagle, 1978 Vice President, T. Rowe Price and T. Rowe Price Group, Inc. | Vice President, International Funds | |
Ernest C. Yeung, CFA, 1979 Director and Vice President, Price Hong Kong; Vice President, T. Rowe Price Group, Inc. | Executive Vice President, International Funds; Vice President, Communications & Technology Fund and Global Funds | |
Alison Mei Ling Yip, 1966 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Vice President, Global Technology Fund, International Funds, and Science & Technology Fund | |
Eric Yuan, 1984 Vice President, Price Hong Kong and T. Rowe Price Group, Inc.; formerly student, Columbia Business School (to 2016) | Vice President, International Funds | |
Wenli Zheng, 1979 Vice President, Price Hong Kong and T. Rowe Price Group, Inc. | Vice President, Communications & Technology Fund and International Funds | |
Anthony Zhu, Ph.D., 1984 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly student, Columbia Business School (to 2016) | Vice President, Quantitative Management Funds | |
Douglas Zinser, 1975 Vice President, T. Rowe Price and T. Rowe Price Group, Inc.; formerly Senior Research Analyst, Henderson Global Investors (to 2017) | Vice President, High Yield Fund (serves only with respect to the U.S. High Yield Fund) |
Directors’ Compensation
Each independent director is paid $340,000 annually for his/her service on the Boards. The Chairman of the Boards, an independent director, receives an additional $165,000 annually for serving in this capacity. An independent director serving on the Joint Audit Committee receives an additional $30,000 annually for his/her service and the chairman of the Joint Audit Committee receives an additional $25,000 for his/her service. An independent director serving as a member of a Special Committee of the Independent Directors receives an additional $1,500 per meeting of the Special Committee
71
(currently, no Special Committees have been assigned by the Boards). All of these fees are allocated to each fund on a pro-rata basis based on each fund’s net assets relative to the other funds.
The following table shows the total compensation that was received by the independent directors in the calendar year 2019, unless otherwise indicated. The independent directors of the funds do not receive any pension or retirement benefits from the funds or from T. Rowe Price. In addition, the officers and inside directors of the funds do not receive any compensation or benefits from the funds for their service.
Directors | Total Compensation |
Bazemore | $341,667 |
Daniels | 322,500 |
Duncan | 333,333 |
Gerrard | 472,500 |
McBride | 327,500 |
Rouse | 327,500 |
Schreiber | 322,500 |
Tercek* | 56,667 |
* Effective February 15, 2019, Mr. Tercek resigned as independent director of the Price Funds.
The following table shows the amounts paid by each fund to the independent directors based on accrued compensation in the calendar year 2019, unless otherwise indicated:
Fund | Aggregate Compensation From Fund | |||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | Tercek* | |
Africa & Middle East Fund | $52 | $49 | $51 | $72 | $50 | $50 | $49 | $9 |
Asia Opportunities Fund | 50 | 47 | 49 | 69 | 48 | 48 | 47 | 8 |
Balanced Fund | 1,743 | 1,646 | 1,699 | 2,411 | 1,670 | 1,670 | 1,646 | 286 |
Blue Chip Growth Fund | 25,216 | 23,802 | 24,533 | 34,859 | 24,113 | 24,113 | 23,802 | 3,887 |
California Tax-Free Bond Fund | 284 | 268 | 277 | 393 | 273 | 273 | 268 | 49 |
California Tax-Free Money Fund | 24 | 22 | 23 | 33 | 23 | 23 | 22 | 4 |
Capital Appreciation Fund | 13,841 | 13,072 | 13,468 | 19,143 | 13,238 | 13,238 | 13,072 | 2,188 |
Cash Reserves Fund | 1,178 | 1,112 | 1,150 | 1,630 | 1,130 | 1,130 | 1,112 | 203 |
China Evolution Equity Fund(a) | 2 | 2 | 2 | 2 | 2 | 2 | 2 | — |
Communications & Technology Fund | 2,403 | 2,268 | 2,339 | 3,322 | 2,298 | 2,298 | 2,268 | 369 |
Corporate Income Fund | 299 | 282 | 292 | 414 | 287 | 287 | 282 | 56 |
Credit Opportunities Fund | 29 | 27 | 28 | 40 | 27 | 27 | 27 | 5 |
Diversified Mid-Cap Growth Fund | 551 | 522 | 531 | 763 | 523 | 523 | 522 | 72 |
Dividend Growth Fund | 4,575 | 4,327 | 4,428 | 6,331 | 4,356 | 4,356 | 4,327 | 659 |
Dynamic Credit Fund | 11 | 10 | 10 | 15 | 10 | 10 | 10 | 1 |
Dynamic Global Bond Fund | 1,767 | 1,670 | 1,729 | 2,448 | 1,699 | 1,699 | 1,670 | 328 |
Emerging Europe Fund | 63 | 59 | 61 | 87 | 60 | 60 | 59 | 11 |
Emerging Markets Bond Fund | 2,398 | 2,263 | 2,351 | 3,318 | 2,308 | 2,308 | 2,263 | 450 |
Emerging Markets Corporate Bond Fund | 40 | 38 | 39 | 56 | 38 | 38 | 38 | 5 |
Emerging Markets Corporate Multi-Sector Account Portfolio(b) | — | — | — | — | — | — | — | — |
Emerging Markets Local Currency Bond Fund | 205 | 193 | 202 | 283 | 198 | 198 | 193 | 43 |
72
Fund | Aggregate Compensation From Fund | |||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | Tercek* | |
Emerging Markets Discovery Stock Fund | 45 | 43 | 43 | 62 | 43 | 43 | 43 | 4 |
Emerging Markets Local Multi-Sector Account Portfolio(b) | — | — | — | — | — | — | — | — |
Emerging Markets Stock Fund | 5,069 | 4,778 | 4,954 | 7,003 | 4,865 | 4,865 | 4,778 | 823 |
Equity Income Fund | 8,209 | 7,748 | 8,022 | 11,354 | 7,880 | 7,880 | 7,748 | 1,410 |
Equity Index 500 Fund | 11,837 | 11,171 | 11,539 | 16,366 | 11,338 | 11,338 | 11,171 | 1,917 |
European Stock Fund | 389 | 368 | 381 | 539 | 374 | 374 | 368 | 67 |
Extended Equity Market Index Fund | 362 | 341 | 353 | 500 | 347 | 347 | 341 | 59 |
Financial Services Fund | 313 | 296 | 306 | 433 | 301 | 301 | 296 | 54 |
Floating Rate Fund | 762 | 720 | 751 | 1,056 | 737 | 737 | 720 | 165 |
Floating Rate Multi-Sector Account Portfolio(b) | — | — | — | — | — | — | — | — |
Georgia Tax-Free Bond Fund | 162 | 153 | 157 | 224 | 155 | 155 | 153 | 26 |
Global Allocation Fund | 280 | 264 | 272 | 387 | 268 | 268 | 264 | 45 |
Global Consumer Fund | 8 | 8 | 8 | 11 | 8 | 8 | 8 | 1 |
Global Growth Stock Fund | 185 | 175 | 180 | 256 | 177 | 177 | 175 | 28 |
Global High Income Bond Fund | 51 | 48 | 50 | 71 | 49 | 49 | 48 | 8 |
Global Industrials Fund | 9 | 9 | 9 | 13 | 9 | 9 | 9 | 2 |
Global Multi-Sector Bond Fund | 425 | 402 | 411 | 588 | 404 | 404 | 402 | 61 |
Global Real Estate Fund | 57 | 54 | 56 | 79 | 55 | 55 | 54 | 10 |
Global Stock Fund | 728 | 688 | 700 | 1,006 | 689 | 689 | 688 | 86 |
Global Technology Fund | 1,975 | 1,862 | 1,932 | 2,729 | 1,897 | 1,897 | 1,862 | 330 |
Global Value Equity Fund | 4 | 4 | 4 | 6 | 4 | 4 | 4 | 1 |
GNMA Fund | 534 | 504 | 522 | 739 | 513 | 513 | 504 | 93 |
Government Money Fund | 3,348 | 3,164 | 3,267 | 4,635 | 3,211 | 3,211 | 3,164 | 585 |
Government Reserve Fund | 5,827 | 5,497 | 5,637 | 8,045 | 5,545 | 5,545 | 5,497 | 792 |
Growth & Income Fund | 804 | 759 | 782 | 1,112 | 769 | 769 | 759 | 131 |
Growth Stock Fund | 22,141 | 20,889 | 21,606 | 30,608 | 21,226 | 21,226 | 20,889 | 3,622 |
Health Sciences Fund | 5,257 | 4,959 | 5,139 | 7,268 | 5,047 | 5,047 | 4,959 | 899 |
High Yield Fund | 3,106 | 2,936 | 3,018 | 4,298 | 2,967 | 2,967 | 2,936 | 476 |
High Yield Multi-Sector Account Portfolio(b) | — | — | — | — | — | — | — | — |
Inflation Protected Bond Fund | 161 | 152 | 158 | 223 | 155 | 155 | 152 | 30 |
Institutional Africa & Middle East Fund | 36 | 34 | 36 | 50 | 36 | 36 | 34 | 10 |
Institutional Cash Reserves Fund | 345 | 326 | 337 | 477 | 331 | 331 | 326 | 62 |
Institutional Core Plus Fund | 174 | 164 | 170 | 241 | 167 | 167 | 164 | 30 |
Institutional Emerging Markets Bond Fund | 187 | 177 | 183 | 259 | 180 | 180 | 177 | 32 |
Institutional Emerging Markets Equity Fund | 735 | 694 | 719 | 1,017 | 706 | 706 | 694 | 127 |
Institutional Floating Rate Fund | 1,638 | 1,547 | 1,617 | 2,270 | 1,586 | 1,586 | 1,547 | 357 |
73
Fund | Aggregate Compensation From Fund | |||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | Tercek* | |
Institutional High Yield Fund | 604 | 570 | 588 | 835 | 578 | 578 | 570 | 99 |
Institutional International Core Equity Fund | 15 | 14 | 14 | 20 | 14 | 14 | 14 | 4 |
Institutional International Disciplined Equity Fund | 112 | 105 | 109 | 154 | 107 | 107 | 105 | 19 |
Institutional International Growth Equity Fund | 23 | 22 | 23 | 32 | 22 | 22 | 22 | 4 |
Institutional Large-Cap Core Growth Fund | 1,652 | 1,558 | 1,611 | 2,283 | 1,583 | 1,583 | 1,558 | 269 |
Institutional Long Duration Credit Fund | 13 | 12 | 13 | 18 | 12 | 12 | 12 | 2 |
Institutional Mid-Cap Equity Growth Fund | 3,085 | 2,910 | 3,007 | 4,264 | 2,955 | 2,955 | 2,910 | 491 |
Institutional Small-Cap Stock Fund | 2,080 | 1,964 | 2,024 | 2,876 | 1,989 | 1,989 | 1,964 | 323 |
Intermediate Tax-Free High Yield Fund | 23 | 21 | 22 | 31 | 22 | 22 | 21 | 4 |
International Bond Fund | 598 | 563 | 592 | 827 | 581 | 581 | 563 | 126 |
International Bond Fund (USD Hedged) | 2,459 | 2,326 | 2,393 | 3,406 | 2,352 | 2,352 | 2,326 | 406 |
International Disciplined Equity Fund | 49 | 46 | 47 | 67 | 47 | 47 | 46 | 8 |
International Discovery Fund | 3,172 | 2,995 | 3,094 | 4,387 | 3,040 | 3,040 | 2,995 | 527 |
International Equity Index Fund | 233 | 220 | 228 | 322 | 224 | 224 | 220 | 40 |
International Stock Fund | 5,935 | 5,602 | 5,791 | 8,208 | 5,690 | 5,690 | 5,602 | 982 |
International Value Equity Fund | 4,396 | 4,149 | 4,309 | 6,083 | 4,231 | 4,231 | 4,149 | 827 |
Investment-Grade Corporate Multi-Sector Account Portfolio(b) | — | — | — | — | — | — | — | — |
Japan Fund | 306 | 289 | 299 | 423 | 294 | 294 | 289 | 52 |
Latin America Fund | 242 | 228 | 237 | 334 | 232 | 232 | 228 | 42 |
Large-Cap Growth Fund | 7,399 | 6,974 | 7,238 | 10,223 | 7,108 | 7,108 | 6,974 | 1,239 |
Large-Cap Value Fund | 1,387 | 1,310 | 1,353 | 1,919 | 1,329 | 1,329 | 1,310 | 230 |
Limited Duration Inflation Focused Bond Fund | 3,446 | 3,255 | 3,364 | 4,769 | 3,305 | 3,305 | 3,255 | 592 |
Maryland Short-Term Tax-Free Bond Fund | 69 | 66 | 68 | 96 | 67 | 67 | 66 | 13 |
Maryland Tax-Free Bond Fund | 975 | 921 | 951 | 1,349 | 934 | 934 | 921 | 164 |
Maryland Tax-Free Money Fund | 32 | 30 | 32 | 45 | 31 | 31 | 30 | 6 |
Mid-Cap Growth Fund | 13,198 | 12,458 | 12,856 | 18,249 | 12,634 | 12,634 | 12,458 | 2,105 |
Mid-Cap Index Fund | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 0 |
Mid-Cap Value Fund | 5,181 | 4,888 | 5,068 | 7,164 | 4,978 | 4,978 | 4,888 | 897 |
Mortgage-Backed Securities Multi-Sector Account Portfolio(b) | — | — | — | — | — | — | — | — |
Multi-Strategy Total Return Fund | 25 | 24 | 25 | 35 | 24 | 24 | 24 | 5 |
New America Growth Fund | 2,088 | 1,971 | 2,034 | 2,887 | 1,999 | 1,999 | 1,971 | 335 |
New Asia Fund | 1,127 | 1,064 | 1,101 | 1,559 | 1,082 | 1,082 | 1,064 | 189 |
New Era Fund | 1,427 | 1,346 | 1,397 | 1,973 | 1,372 | 1,372 | 1,346 | 249 |
74
Fund | Aggregate Compensation From Fund | |||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | Tercek* | |
New Horizons Fund | 10,752 | 10,146 | 10,474 | 14,863 | 10,293 | 10,293 | 10,146 | 1,696 |
New Income Fund | 10,369 | 9,791 | 10,150 | 14,351 | 9,968 | 9,968 | 9,791 | 1,890 |
New Jersey Tax-Free Bond Fund | 190 | 180 | 186 | 264 | 182 | 182 | 180 | 31 |
New York Tax-Free Bond Fund | 204 | 193 | 199 | 283 | 196 | 196 | 193 | 35 |
New York Tax-Free Money Fund | 26 | 25 | 26 | 36 | 25 | 25 | 25 | 5 |
Overseas Stock Fund | 6,901 | 6,511 | 6,740 | 9,542 | 6,621 | 6,621 | 6,511 | 1,160 |
QM Global Equity Fund | 8 | 7 | 8 | 11 | 7 | 7 | 7 | 1 |
QM U.S. Small & Mid-Cap Core Equity Fund | 37 | 35 | 36 | 51 | 35 | 35 | 35 | 6 |
QM U.S. Small-Cap Growth Equity Fund | 3,143 | 2,966 | 3,060 | 4,345 | 3,007 | 3,007 | 2,966 | 497 |
QM U.S. Value Equity Fund | 8 | 8 | 8 | 12 | 9 | 8 | 8 | 1 |
Real Assets Fund | 1,248 | 1,177 | 1,219 | 1,725 | 1,197 | 1,197 | 1,177 | 210 |
Real Estate Fund | 1,653 | 1,557 | 1,628 | 2,285 | 1,597 | 1,597 | 1,557 | 327 |
Retirement 2005 Fund | 551 | 520 | 540 | 763 | 530 | 530 | 520 | 99 |
Retirement 2010 Fund | 1,654 | 1,561 | 1,620 | 2,288 | 1,590 | 1,590 | 1,561 | 299 |
Retirement 2015 Fund | 2,638 | 2,490 | 2,586 | 3,650 | 2,539 | 2,539 | 2,490 | 483 |
Retirement 2020 Fund | 7,532 | 7,107 | 7,381 | 10,420 | 7,247 | 7,247 | 7,107 | 1,373 |
Retirement 2025 Fund | 7,030 | 6,634 | 6,881 | 9,724 | 6,758 | 6,758 | 6,634 | 1,253 |
Retirement 2030 Fund | 8,870 | 8,371 | 8,679 | 12,270 | 8,524 | 8,524 | 8,371 | 1,566 |
Retirement 2035 Fund | 5,465 | 5,157 | 5,346 | 7,558 | 5,251 | 5,251 | 5,157 | 959 |
Retirement 2040 Fund | 6,241 | 5,889 | 6,106 | 8,632 | 5,996 | 5,996 | 5,889 | 1,094 |
Retirement 2045 Fund | 3,562 | 3,362 | 3,483 | 4,927 | 3,421 | 3,421 | 3,362 | 616 |
Retirement 2050 Fund | 2,991 | 2,823 | 2,922 | 4,137 | 2,870 | 2,870 | 2,823 | 512 |
Retirement 2055 Fund | 1,530 | 1,444 | 1,491 | 2,116 | 1,465 | 1,465 | 1,444 | 250 |
Retirement 2060 Fund | 296 | 280 | 286 | 409 | 282 | 282 | 280 | 42 |
Retirement Balanced Fund | 884 | 835 | 865 | 1,223 | 850 | 850 | 835 | 160 |
Retirement I 2005 Fund—I Class | 102 | 97 | 99 | 141 | 97 | 97 | 97 | 16 |
Retirement I 2010 Fund—I Class | 276 | 261 | 268 | 382 | 264 | 264 | 261 | 43 |
Retirement I 2015 Fund—I Class | 535 | 505 | 520 | 740 | 511 | 511 | 505 | 84 |
Retirement I 2020 Fund—I Class | 1,892 | 1,787 | 1,840 | 2,616 | 1,809 | 1,809 | 1,787 | 299 |
Retirement I 2025 Fund—I Class | 1,966 | 1,857 | 1,906 | 2,718 | 1,875 | 1,875 | 1,857 | 289 |
Retirement I 2030 Fund—I Class | 2,512 | 2,373 | 2,439 | 3,474 | 2,398 | 2,398 | 2,373 | 375 |
Retirement I 2035 Fund—I Class | 1,665 | 1,573 | 1,614 | 2,303 | 1,587 | 1,587 | 1,573 | 240 |
Retirement I 2040 Fund—I Class | 1,954 | 1,845 | 1,896 | 2,701 | 1,864 | 1,864 | 1,845 | 288 |
Retirement I 2045 Fund—I Class | 1,207 | 1,140 | 1,168 | 1,668 | 1,149 | 1,149 | 1,140 | 169 |
Retirement I 2050 Fund—I Class | 1,155 | 1,091 | 1,121 | 1,597 | 1,102 | 1,102 | 1,091 | 168 |
75
Fund | Aggregate Compensation From Fund | |||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | Tercek* | |
Retirement I 2055 Fund—I Class | 532 | 503 | 514 | 735 | 505 | 505 | 503 | 71 |
Retirement I 2060 Fund—I Class | 132 | 125 | 127 | 183 | 125 | 125 | 125 | 15 |
Retirement Balanced I Fund—I Class | 132 | 125 | 129 | 182 | 126 | 126 | 125 | 21 |
Retirement Income 2020 Fund | 17 | 16 | 17 | 24 | 16 | 16 | 16 | 2 |
Science & Technology Fund | 2,417 | 2,281 | 2,353 | 3,341 | 2,312 | 2,312 | 2,281 | 376 |
Short-Term Fund | 1,804 | 1,695 | 1,793 | 2,491 | 1,756 | 1,756 | 1,695 | 373 |
Short-Term Bond Fund | 2,220 | 2,096 | 2,171 | 3,072 | 2,133 | 2,133 | 2,096 | 393 |
Short-Term Government Fund | — | — | — | — | — | — | — | — |
Small-Cap Index Fund | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 0 |
Small-Cap Stock Fund | 4,034 | 3,807 | 3,935 | 5,577 | 3,866 | 3,866 | 3,807 | 656 |
Small-Cap Value Fund | 3,965 | 3,741 | 3,870 | 5,482 | 3,802 | 3,802 | 3,741 | 658 |
Spectrum Conservative Allocation Fund | 908 | 858 | 886 | 1,256 | 870 | 870 | 858 | 154 |
Spectrum Growth Fund | 1,480 | 1,397 | 1,446 | 2,047 | 1,420 | 1,420 | 1,397 | 250 |
Spectrum Income Fund | 2,714 | 2,563 | 2,651 | 3,756 | 2,604 | 2,604 | 2,563 | 470 |
Spectrum International Fund | 612 | 577 | 598 | 846 | 587 | 587 | 577 | 105 |
Spectrum Moderate Allocation Fund | 970 | 916 | 946 | 1,342 | 929 | 929 | 916 | 160 |
Spectrum Moderate Growth Allocation Fund | 1,043 | 986 | 1,013 | 1,444 | 996 | 996 | 986 | 165 |
Summit Municipal Income Fund | 884 | 835 | 860 | 1,223 | 845 | 845 | 835 | 142 |
Summit Municipal Intermediate Fund | 2,286 | 2,159 | 2,232 | 3,163 | 2,193 | 2,193 | 2,159 | 393 |
Summit Municipal Money Market Fund | 52 | 49 | 51 | 72 | 50 | 50 | 49 | 10 |
Target 2005 Fund | 15 | 15 | 15 | 21 | 15 | 15 | 15 | 3 |
Target 2010 Fund | 27 | 26 | 27 | 38 | 26 | 26 | 26 | 5 |
Target 2015 Fund | 81 | 76 | 79 | 112 | 77 | 77 | 76 | 14 |
Target 2020 Fund | 128 | 121 | 125 | 177 | 123 | 123 | 121 | 21 |
Target 2025 Fund | 137 | 130 | 133 | 190 | 131 | 131 | 130 | 21 |
Target 2030 Fund | 136 | 129 | 133 | 189 | 130 | 130 | 129 | 21 |
Target 2035 Fund | 92 | 87 | 89 | 127 | 88 | 88 | 87 | 14 |
Target 2040 Fund | 81 | 77 | 79 | 112 | 77 | 77 | 77 | 12 |
Target 2045 Fund | 65 | 62 | 63 | 90 | 62 | 62 | 62 | 10 |
Target 2050 Fund | 48 | 45 | 46 | 66 | 45 | 45 | 45 | 7 |
Target 2055 Fund | 28 | 27 | 27 | 39 | 27 | 27 | 27 | 4 |
Target 2060 Fund | 9 | 9 | 9 | 13 | 9 | 9 | 9 | 1 |
Tax-Efficient Equity Fund | 192 | 182 | 186 | 266 | 183 | 183 | 182 | 26 |
Tax-Exempt Money Fund | 153 | 145 | 150 | 212 | 147 | 147 | 145 | 28 |
Tax-Free High Yield Fund | 2,149 | 2,030 | 2,096 | 2,974 | 2,060 | 2,060 | 2,030 | 362 |
Tax-Free Income Fund | 1,045 | 987 | 1,020 | 1,446 | 1,002 | 1,002 | 987 | 179 |
Tax-Free Short-Intermediate Fund | 783 | 740 | 765 | 1,084 | 752 | 752 | 740 | 136 |
76
Fund | Aggregate Compensation From Fund | |||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | Tercek* | |
Total Equity Market Index Fund | 773 | 730 | 753 | 1,069 | 740 | 740 | 730 | 125 |
Total Return Fund | 20 | 19 | 19 | 28 | 19 | 19 | 19 | 3 |
Treasury Reserve Fund | 1,603 | 1,510 | 1,558 | 2,212 | 1,531 | 1,531 | 1,510 | 238 |
U.S. Bond Enhanced Index Fund | 482 | 455 | 471 | 667 | 463 | 463 | 455 | 84 |
U.S. Equity Research Fund | 453 | 432 | 429 | 630 | 424 | 424 | 432 | 54 |
U.S. High Yield Fund | 91 | 86 | 87 | 125 | 86 | 86 | 86 | 12 |
U.S. Large-Cap Core Fund | 231 | 218 | 225 | 319 | 221 | 221 | 218 | 38 |
U.S. Treasury Intermediate Fund | 206 | 195 | 198 | 285 | 195 | 195 | 195 | 30 |
U.S. Treasury Long-Term Fund | 2,208 | 2,087 | 2,157 | 3,058 | 2,119 | 2,119 | 2,087 | 397 |
U.S. Treasury Money Fund | 2,416 | 2,282 | 2,353 | 3,342 | 2,313 | 2,313 | 2,282 | 405 |
Ultra Short-Term Bond Fund | 549 | 519 | 532 | 760 | 523 | 523 | 519 | 82 |
Value Fund | 9,970 | 9,411 | 9,730 | 13,789 | 9,559 | 9,559 | 9,411 | 1,662 |
Virginia Tax-Free Bond Fund | 563 | 532 | 548 | 779 | 539 | 539 | 532 | 90 |
* Effective February 15, 2019, Mr. Tercek resigned as independent director of the Price Funds.
(a) Estimated for the period December 4, 2019, through December 31, 2019.
(b) Directors’ fees were paid by T. Rowe Price on behalf of the fund.
Directors’ Holdings in the Price Funds
The following tables set forth the Price Fund holdings of the current independent and inside directors, as of December 31, 2019, unless otherwise indicated.
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
Africa & Middle East Fund | None | None | None | None | None | None | None |
Africa & Middle East Fund—I Class | None | None | None | None | None | None | None |
Asia Opportunities Fund | None | None | None | None | None | None | None |
Asia Opportunities Fund—Advisor Class | None | None | None | None | None | None | None |
Asia Opportunities Fund—I Class | None | None | None | None | None | None | None |
Balanced Fund | None | None | None | None | None | None | None |
Balanced Fund—I Class | None | None | None | None | None | None | None |
Blue Chip Growth Fund | Over $100,000 | None | None | $50,001–$100,000 | None | None | Over $100,000 |
Blue Chip Growth Fund—Advisor Class | None | None | None | None | None | None | None |
Blue Chip Growth Fund—I Class | None | None | None | None | None | None | None |
Blue Chip Growth Fund—R Class | None | None | None | None | None | None | None |
California Tax-Free Bond Fund | None | None | None | None | None | None | None |
California Tax-Free Bond Fund—I Class | None | None | None | None | None | None | None |
California Tax-Free Money Fund | None | None | None | None | None | None | None |
California Tax-Free Money Fund—I Class | None | None | None | None | None | None | None |
Capital Appreciation Fund | None | None | None | Over $100,000 | None | None | None |
Capital Appreciation Fund—Advisor Class | None | None | None | None | None | None | None |
77
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
Capital Appreciation Fund—I Class | None | None | None | None | Over $100,000 | None | None |
Cash Reserves Fund | None | None | None | None | None | None | None |
China Evolution Equity Fund | None | None | None | None | None | None | None |
China Evolution Equity Fund—I Class | None | None | None | None | None | None | None |
Communications & Technology Fund | None | None | None | Over $100,000 | None | None | None |
Communications & Technology Fund—I Class | None | None | None | $10,001-$50,000 | None | None | None |
Corporate Income Fund | None | None | None | None | None | None | None |
Corporate Income Fund—I Class | None | None | None | None | None | None | None |
Credit Opportunities Fund | None | None | None | None | None | None | None |
Credit Opportunities Fund—Advisor Class | None | None | None | None | None | None | None |
Credit Opportunities Fund—I Class | None | None | None | None | None | None | None |
Diversified Mid-Cap Growth Fund | None | None | None | $10,001-$50,000 | None | None | None |
Diversified Mid-Cap Growth Fund—I Class | None | None | None | None | None | None | None |
Dividend Growth Fund | None | None | None | $10,001–$50,000 | None | None | None |
Dividend Growth Fund—Advisor Class | None | None | None | None | None | None | None |
Dividend Growth Fund—I Class | None | None | None | None | None | None | None |
Dynamic Credit Fund | None | None | None | None | None | None | None |
Dynamic Credit Fund—I Class | None | None | None | None | None | None | None |
Dynamic Global Bond Fund | None | None | None | None | None | None | None |
Dynamic Global Bond Fund—Advisor Class | None | None | None | None | None | None | None |
Dynamic Global Bond Fund—I Class | None | None | None | None | None | None | None |
Emerging Europe Fund | None | None | None | None | None | None | None |
Emerging Europe Fund—I Class | None | None | None | None | None | None | None |
Emerging Markets Bond Fund | None | None | None | None | None | None | None |
Emerging Markets Bond Fund—Advisor Class | None | None | None | None | None | None | None |
Emerging Markets Bond Fund—I Class | None | None | None | None | None | None | None |
Emerging Markets Corporate Bond Fund | None | None | None | None | None | None | None |
Emerging Markets Corporate Bond Fund—Advisor Class | None | None | None | None | None | None | None |
Emerging Markets Corporate Bond Fund—I Class | None | None | None | None | None | None | None |
Emerging Markets Corporate Multi-Sector Account Portfolio | None | None | None | None | None | None | None |
Emerging Markets Discovery Stock Fund | None | None | None | $10,001–$50,000 | None | None | None |
Emerging Markets Discovery Stock Fund—Advisor Class | None | None | None | None | None | None | None |
Emerging Markets Discovery Stock Fund—I Class | None | None | None | None | None | None | None |
Emerging Markets Local Currency Bond Fund | Over $100,000 | None | None | None | None | None | None |
78
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
Emerging Markets Local Currency Bond Fund—Advisor Class | None | None | None | None | None | None | None |
Emerging Markets Local Currency Bond Fund—I Class | None | None | None | None | None | None | None |
Emerging Markets Local Multi-Sector Account Portfolio | None | None | None | None | None | None | None |
Emerging Markets Stock Fund | None | None | Over $100,000 | $10,001–$50,000 | None | None | Over $100,000 |
Emerging Markets Stock Fund—I Class | None | None | None | None | None | $10,001–$50,000 | Over $100,000 |
Equity Income Fund | None | None | None | None | None | None | None |
Equity Income Fund—Advisor Class | None | None | None | None | None | None | None |
Equity Income Fund—I Class | None | None | None | None | None | None | None |
Equity Income Fund—R Class | None | None | None | None | None | None | None |
Equity Index 500 Fund | None | None | None | None | None | None | None |
Equity Index 500 Fund—I Class | None | None | None | None | None | None | None |
European Stock Fund | None | None | None | None | None | None | None |
European Stock Fund—I Class | None | None | None | None | None | None | None |
Extended Equity Market Index Fund | None | None | None | None | None | None | None |
Financial Services Fund | None | None | None | $50,001–$100,000 | None | None | None |
Financial Services Fund—I Class | None | None | None | None | None | None | None |
Floating Rate Fund | None | None | None | None | None | None | None |
Floating Rate Fund—Advisor Class | None | None | None | None | None | None | None |
Floating Rate Fund—I Class | None | None | None | None | None | None | None |
Floating Rate Multi-Sector Account Portfolio | None | None | None | None | None | None | None |
Georgia Tax-Free Bond Fund | None | None | None | None | None | None | None |
Georgia Tax-Free Bond Fund—I Class | None | None | None | None | None | None | None |
Global Allocation Fund | None | None | None | None | None | None | None |
Global Allocation Fund—Advisor Class | None | None | None | None | None | None | None |
Global Allocation Fund—I Class | None | None | None | None | None | None | None |
Global Consumer Fund | None | None | None | None | None | None | None |
Global Growth Stock Fund | None | None | None | $1-$10,000 | None | None | None |
Global Growth Stock Fund—Advisor Class | None | None | None | None | None | None | None |
Global Growth Stock Fund—I Class | None | None | None | None | None | None | None |
Global High Income Bond Fund | None | None | None | None | None | None | None |
Global High Income Bond Fund—Advisor Class | None | None | None | None | None | None | None |
Global High Income Bond Fund—I Class | None | None | None | None | None | None | None |
Global Industrials Fund | None | None | None | None | None | None | None |
Global Industrials Fund—I Class | None | None | None | None | None | None | None |
Global Multi-Sector Bond Fund | None | None | None | None | None | None | None |
Global Multi-Sector Bond Fund—Advisor Class | None | None | None | None | None | None | None |
Global Multi-Sector Bond Fund—I Class | None | None | None | None | None | None | None |
Global Real Estate Fund | None | None | None | None | None | None | None |
79
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
Global Real Estate Fund—Advisor Class | None | None | None | None | None | None | None |
Global Real Estate Fund—I Class | None | None | None | None | None | None | None |
Global Stock Fund | None | None | None | $50,001–$100,000 | None | None | None |
Global Stock Fund—Advisor Class | None | None | None | None | None | None | None |
Global Stock Fund—I Class | None | None | None | None | None | None | None |
Global Technology Fund | None | None | None | Over $100,000 | None | None | None |
Global Technology Fund—I Class | None | None | None | None | None | None | None |
Global Value Equity Fund—I Class | None | None | None | None | None | None | None |
GNMA Fund | None | None | None | None | None | None | Over $100,000 |
GNMA Fund—I Class | None | None | None | None | None | None | None |
Government Money Fund | None | None | None | None | None | None | None |
Government Money Fund—I Class | None | None | None | None | None | None | None |
Government Reserve Fund | None | None | None | None | None | None | None |
Growth & Income Fund | None | None | None | $10,001–$50,000 | None | None | None |
Growth & Income Fund—I Class | None | None | None | None | None | None | Over $100,000 |
Growth Stock Fund | None | None | None | Over $100,000 | None | None | None |
Growth Stock Fund—Advisor Class | None | None | None | None | None | None | None |
Growth Stock Fund—I Class | None | None | None | None | None | None | None |
Growth Stock Fund—R Class | None | None | None | None | None | None | None |
Health Sciences Fund | None | None | None | Over $100,000 | Over $100,000 | None | None |
Health Sciences Fund—I Class | None | None | None | None | None | None | None |
High Yield Fund | None | None | None | None | None | None | Over $100,000 |
High Yield Fund—Advisor Class | None | None | None | None | None | None | None |
High Yield Fund—I Class | None | None | None | None | None | None | None |
High Yield Multi-Sector Account Portfolio | None | None | None | None | None | None | None |
Inflation Protected Bond Fund | None | None | None | None | None | None | None |
Inflation Protected Bond Fund—I Class | None | None | None | None | None | None | None |
Institutional Africa & Middle East Fund | None | None | None | None | None | None | None |
Institutional Cash Reserves Fund | None | None | None | None | None | None | None |
Institutional Core Plus Fund | None | None | None | None | None | None | None |
Institutional Emerging Markets Bond Fund | None | None | None | None | None | None | None |
Institutional Emerging Markets Equity Fund | None | None | None | None | None | None | None |
Institutional Floating Rate Fund | None | None | None | None | None | None | None |
Institutional Floating Rate Fund—F Class | None | None | None | None | None | None | None |
Institutional High Yield Fund | None | None | None | None | None | None | None |
Institutional International Core Equity Fund | None | None | None | None | None | None | None |
Institutional International Disciplined Equity Fund | None | None | None | None | None | None | None |
80
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
Institutional International Growth Equity Fund | None | None | None | None | None | None | None |
Institutional Large-Cap Core Growth Fund | None | None | None | None | None | None | None |
Institutional Long Duration Credit Fund | None | None | None | None | None | None | None |
Institutional Mid-Cap Equity Growth Fund | None | None | None | None | None | None | None |
Institutional Small-Cap Stock Fund | None | None | None | None | None | None | None |
Intermediate Tax-Free High Yield Fund | None | None | None | None | None | None | None |
Intermediate Tax-Free High Yield Fund—Advisor Class | None | None | None | None | None | None | None |
Intermediate Tax-Free High Yield Fund—I Class | None | None | None | None | None | None | None |
International Bond Fund | None | None | None | None | None | None | None |
International Bond Fund—Advisor Class | None | None | None | None | None | None | None |
International Bond Fund—I Class | None | None | None | None | None | None | None |
International Bond Fund (USD Hedged) | None | None | None | None | None | None | None |
International Bond Fund (USD Hedged)—Advisor Class | None | None | None | None | None | None | None |
International Bond Fund (USD Hedged)—I Class | None | None | None | None | None | None | None |
International Disciplined Equity Fund | None | None | None | None | None | None | None |
International Disciplined Equity Fund—Advisor Class | None | None | None | None | None | None | None |
International Disciplined Equity Fund—I Class | None | None | None | None | None | None | None |
International Discovery Fund | None | None | None | $1-$10,000 | None | None | None |
International Discovery Fund—I Class | None | None | None | None | None | None | None |
International Equity Index Fund | None | None | None | None | None | None | None |
International Stock Fund | None | None | None | $10,001–$50,000 | None | None | None |
International Stock Fund—Advisor Class | None | None | None | None | None | None | None |
International Stock Fund—I Class | None | None | None | None | None | None | None |
International Stock Fund—R Class | None | None | None | None | None | None | None |
International Value Equity Fund | None | None | None | None | None | None | None |
International Value Equity Fund—Advisor Class | None | None | None | None | None | None | None |
International Value Equity Fund—I Class | None | None | None | None | None | None | None |
International Value Equity Fund—R Class | None | None | None | None | None | None | None |
Investment Grade Multi-Sector Account Portfolio | None | None | None | None | None | None | None |
Japan Fund | None | None | None | None | None | None | Over $100,000 |
Japan Fund—I Class | None | None | None | None | None | None | None |
Latin America Fund | None | None | None | None | None | None | Over $100,000 |
Latin America Fund—I Class | None | None | None | None | None | None | None |
81
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
Large-Cap Growth Fund—I Class | None | None | None | None | None | None | None |
Large-Cap Value Fund—I Class | None | None | None | None | None | None | None |
Limited Duration Inflation Focused Bond Fund | None | None | None | None | None | None | None |
Limited Duration Inflation Focused Bond Fund—I Class | None | None | None | None | None | None | None |
Maryland Short-Term Tax-Free Bond Fund | None | None | None | None | None | None | None |
Maryland Short-Term Tax-Free Bond Fund—I Class | None | None | None | None | None | None | None |
Maryland Tax-Free Bond Fund | None | None | None | None | None | None | None |
Maryland Tax-Free Bond Fund—I Class | None | None | None | None | None | None | None |
Maryland Tax-Free Money Fund | None | None | None | None | None | None | None |
Maryland Tax-Free Money Fund—I Class | None | None | None | None | None | None | None |
Mid-Cap Growth Fund | None | None | None | $10,001–$50,000 | None | None | None |
Mid-Cap Growth Fund—Advisor Class | None | None | None | None | None | None | None |
Mid-Cap Growth Fund—I Class | None | None | None | Over $100,000 | None | None | None |
Mid-Cap Growth Fund—R Class | None | None | None | None | None | None | None |
Mid-Cap Index Fund | None | None | None | None | None | None | None |
Mid-Cap Index Fund—I Class | None | None | None | None | None | None | None |
Mid-Cap Value Fund | None | None | None | $1-10,000 | None | None | None |
Mid-Cap Value Fund—Advisor Class | None | None | None | None | None | None | None |
Mid-Cap Value Fund—I Class | None | None | None | None | None | None | None |
Mid-Cap Value Fund—R Class | None | None | None | None | None | None | None |
Mortgage-Backed Securities Multi-Sector Account Portfolio | None | None | None | None | None | None | None |
Multi-Strategy Total Return Fund | None | None | None | None | None | None | None |
Multi-Strategy Total Return Fund—Advisor Class | None | None | None | None | None | None | None |
Multi-Strategy Total Return Fund—I Class | None | None | None | None | None | None | None |
New America Growth Fund | None | None | None | $50,001–$100,000 | None | None | None |
New America Growth Fund—Advisor Class | None | None | None | None | None | None | None |
New America Growth Fund—I Class | None | None | None | None | Over $100,000 | None | None |
New Asia Fund | None | None | None | None | None | None | None |
New Asia Fund—I Class | None | None | None | None | None | None | None |
New Era Fund | None | None | None | None | None | None | Over $100,000 |
New Era Fund—I Class | None | None | None | None | None | None | None |
New Horizons Fund | None | None | None | Over $100,000 | None | None | None |
New Horizons Fund—I Class | None | None | None | None | None | None | None |
New Income Fund | None | None | None | None | None | None | Over $100,000 |
New Income Fund—Advisor Class | None | None | None | None | None | None | None |
New Income Fund—I Class | None | None | None | None | None | None | None |
New Income Fund—R Class | None | None | None | None | None | None | None |
New Jersey Tax-Free Bond Fund | None | None | None | None | None | None | None |
82
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
New Jersey Tax-Free Bond Fund—I Class | None | None | None | None | None | None | None |
New York Tax-Free Bond Fund | None | None | None | None | None | None | None |
New York Tax-Free Bond Fund—I Class | None | None | None | None | None | None | None |
New York Tax-Free Money Fund | None | None | None | None | None | None | None |
New York Tax-Free Money Fund—I Class | None | None | None | None | None | None | None |
Overseas Stock Fund | None | None | None | $50,001-$100,000 | None | None | None |
Overseas Stock Fund—Advisor Class | None | None | None | None | None | None | None |
Overseas Stock Fund—I Class | None | None | None | None | None | None | None |
QM Global Equity Fund | None | None | None | None | None | None | None |
QM Global Equity Fund—Advisor Class | None | None | None | None | None | None | None |
QM Global Equity Fund—I Class | None | None | None | None | None | None | None |
QM U.S. Small & Mid-Cap Core Equity Fund | None | None | None | $10,001–$50,000 | None | None | None |
QM U.S. Small & Mid-Cap Core Equity Fund—Advisor Class | None | None | None | None | None | None | None |
QM U.S. Small & Mid-Cap Core Equity Fund—I Class | None | None | None | None | None | None | None |
QM U.S. Small-Cap Growth Equity Fund | None | None | None | $10,001-$50,000 | None | None | None |
QM U.S. Small-Cap Growth Equity Fund—Advisor Class | None | None | None | None | None | None | None |
QM U.S. Small-Cap Growth Equity Fund—I Class | None | None | None | None | None | None | None |
QM U.S. Value Equity Fund | None | None | None | None | None | None | None |
QM U.S. Value Equity Fund—Advisor Class | None | None | None | None | None | None | None |
QM U.S. Value Equity Fund—I Class | None | None | None | None | None | None | None |
Real Assets Fund | None | None | None | $1-$10,000 | None | None | None |
Real Assets Fund—I Class | None | None | None | None | None | None | None |
Real Estate Fund | None | None | None | None | Over $100,000 | None | None |
Real Estate Fund—Advisor Class | None | None | None | None | None | None | None |
Real Estate Fund—I Class | None | None | None | None | None | None | None |
Retirement 2005 Fund | None | None | None | None | None | None | None |
Retirement 2005 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2005 Fund—R Class | None | None | None | None | None | None | None |
Retirement 2010 Fund | None | None | None | None | None | None | None |
Retirement 2010 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2010 Fund—R Class | None | None | None | None | None | None | None |
Retirement 2015 Fund | None | None | None | None | None | None | None |
Retirement 2015 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2015 Fund—R Class | None | None | None | None | None | None | None |
Retirement 2020 Fund | None | None | None | $10,001–$50,000 | None | None | None |
Retirement 2020 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2020 Fund—R Class | None | None | None | None | None | None | None |
83
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
Retirement 2025 Fund | None | None | None | $50,001–$100,000 | None | None | None |
Retirement 2025 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2025 Fund—R Class | None | None | None | None | None | None | None |
Retirement 2030 Fund | None | Over $100,000 | None | $50,001–$100,000 | None | Over $100,000 | None |
Retirement 2030 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2030 Fund—R Class | None | None | None | None | None | None | None |
Retirement 2035 Fund | None | None | None | $50,001–$100,000 | None | None | None |
Retirement 2035 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2035 Fund—R Class | None | None | None | None | None | None | None |
Retirement 2040 Fund | None | None | None | $10,001-$50,000 | None | None | None |
Retirement 2040 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2040 Fund—R Class | None | None | None | None | None | None | None |
Retirement 2045 Fund | None | None | None | None | None | None | None |
Retirement 2045 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2045 Fund—R Class | None | None | None | None | None | None | None |
Retirement 2050 Fund | None | None | None | $10,001-$50,000 | None | None | None |
Retirement 2050 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2050 Fund—R Class | None | None | None | None | None | None | None |
Retirement 2055 Fund | None | None | None | None | None | None | None |
Retirement 2055 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2055 Fund—R Class | None | None | None | None | None | None | None |
Retirement 2060 Fund | None | None | None | $10,001–$50,000 | None | None | None |
Retirement 2060 Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement 2060 Fund—R Class | None | None | None | None | None | None | None |
Retirement Balanced Fund | None | None | None | None | None | None | None |
Retirement Balanced Fund—Advisor Class | None | None | None | None | None | None | None |
Retirement Balanced Fund—R Class | None | None | None | None | None | None | None |
Retirement I 2005 Fund—I Class | None | None | None | None | None | None | None |
Retirement I 2010 Fund—I Class | None | None | None | None | None | None | None |
Retirement I 2015 Fund—I Class | None | None | None | $10,001–$50,000 | None | None | None |
Retirement I 2020 Fund—I Class | None | None | None | None | None | None | None |
Retirement I 2025 Fund—I Class | None | None | None | $10,001–$50,000 | None | None | None |
Retirement I 2030 Fund—I Class | None | None | None | $10,001–$50,000 | None | None | None |
Retirement I 2035 Fund—I Class | None | None | None | None | None | None | None |
Retirement I 2040 Fund—I Class | None | None | None | None | None | None | None |
Retirement I 2045 Fund—I Class | None | None | None | None | None | None | None |
Retirement I 2050 Fund—I Class | None | None | None | None | None | None | None |
Retirement I 2055 Fund—I Class | None | None | None | None | None | None | None |
Retirement I 2060 Fund—I Class | None | None | None | None | None | None | None |
84
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
Retirement Balanced I Fund—I Class | None | None | None | None | None | None | None |
Retirement Income 2020 Fund | None | None | None | None | None | None | None |
Science & Technology Fund | None | None | None | $50,001–$100,000 | None | None | None |
Science & Technology Fund—Advisor Class | None | None | None | None | None | None | None |
Science & Technology Fund—I Class | None | None | None | None | None | None | None |
Short-Term Fund | None | None | None | None | None | None | None |
Short-Term Bond Fund | None | None | None | None | None | None | Over $100,000 |
Short-Term Bond Fund—Advisor Class | None | None | None | None | None | None | None |
Short-Term Bond Fund—I Class | None | None | None | None | None | None | None |
Short-Term Government Fund | None | None | None | None | None | None | None |
Small-Cap Index Fund | None | None | None | None | None | None | None |
Small-Cap Index Fund—I Class | None | None | None | None | None | None | None |
Small-Cap Stock Fund | None | None | None | $50,001–$100,000 | None | None | None |
Small-Cap Stock Fund—Advisor Class | None | None | None | None | None | None | None |
Small-Cap Stock Fund—I Class | None | None | None | None | None | None | None |
Small-Cap Value Fund | None | None | None | $10,001–$50,000 | None | None | None |
Small-Cap Value Fund—Advisor Class | None | None | None | None | None | None | None |
Small-Cap Value Fund—I Class | None | None | None | None | None | None | None |
Spectrum Conservative Allocation Fund | None | None | None | None | None | None | None |
Spectrum Conservative Allocation Fund—I Class | None | None | None | None | None | None | None |
Spectrum Growth Fund | None | None | None | None | None | None | None |
Spectrum Income Fund | None | None | None | None | None | None | None |
Spectrum International Fund | None | None | None | None | None | None | None |
Spectrum Moderate Allocation Fund | None | None | None | $50,001–$100,000 | None | $50,001–$100,000 | None |
Spectrum Moderate Allocation Fund—I Class | None | None | None | None | None | None | None |
Spectrum Moderate Growth Allocation Fund | None | None | None | $50,001–$100,000 | None | None | None |
Spectrum Moderate Growth Allocation Fund—I Class | None | None | None | None | None | None | None |
Summit Municipal Income Fund | None | None | None | None | None | None | Over $100,000 |
Summit Municipal Income Fund—Advisor Class | None | None | None | None | None | None | None |
Summit Municipal Income Fund—I Class | None | None | None | Over $100,000 | None | None | None |
Summit Municipal Intermediate Fund | None | None | None | None | None | None | Over $100,000 |
Summit Municipal Intermediate Fund—Advisor Class | None | None | None | None | None | None | None |
Summit Municipal Intermediate Fund—I Class | None | None | None | Over $100,000 | None | None | None |
Summit Municipal Money Market Fund | None | None | None | None | None | None | $10,001–$50,000 |
Target 2005 Fund | None | None | None | None | None | None | None |
85
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
Target 2005 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2005 Fund—I Class | None | None | None | None | None | None | None |
Target 2010 Fund | None | None | None | None | None | None | None |
Target 2010 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2010 Fund—I Class | None | None | None | None | None | None | None |
Target 2015 Fund | None | None | None | None | None | None | None |
Target 2015 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2015 Fund—I Class | None | None | None | None | None | None | None |
Target 2020 Fund | None | None | None | None | None | None | None |
Target 2020 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2020 Fund—I Class | None | None | None | None | None | None | None |
Target 2025 Fund | None | None | None | None | None | None | None |
Target 2025 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2025 Fund—I Class | None | None | None | None | None | None | None |
Target 2030 Fund | None | None | None | None | None | None | None |
Target 2030 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2030 Fund—I Class | None | None | None | None | None | None | None |
Target 2035 Fund | None | None | None | None | None | None | None |
Target 2035 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2035 Fund—I Class | None | None | None | None | None | None | None |
Target 2040 Fund | None | None | None | None | None | None | None |
Target 2040 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2040 Fund—I Class | None | None | None | None | None | None | None |
Target 2045 Fund | None | None | None | None | None | None | None |
Target 2045 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2045 Fund—I Class | None | None | None | None | None | None | None |
Target 2050 Fund | None | None | None | None | None | None | None |
Target 2050 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2050 Fund—I Class | None | None | None | None | None | None | None |
Target 2055 Fund | None | None | None | None | None | None | None |
Target 2055 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2055 Fund—I Class | None | None | None | None | None | None | None |
Target 2060 Fund | None | None | None | $10,001-$50,000 | None | None | None |
Target 2060 Fund—Advisor Class | None | None | None | None | None | None | None |
Target 2060 Fund—I Class | None | None | None | None | None | None | None |
Tax-Efficient Equity Fund | None | None | None | None | None | None | None |
Tax-Efficient Equity Fund—I Class | None | None | None | None | None | None | None |
Tax-Exempt Money Fund | None | None | None | None | None | None | None |
Tax-Exempt Money Fund—I Class | None | None | None | None | None | None | None |
Tax-Free High Yield Fund | None | None | None | None | Over $100,000 | None | Over $100,000 |
Tax-Free High Yield Fund—Advisor Class | None | None | None | None | None | None | None |
Tax-Free High Yield Fund—I Class | None | None | None | None | None | None | None |
Tax-Free Income Fund | None | None | None | None | None | None | None |
Tax-Free Income Fund—Advisor Class | None | None | None | None | None | None | None |
Tax-Free Income Fund—I Class | None | None | None | None | None | None | None |
Tax-Free Short-Intermediate Fund | None | None | None | None | None | None | None |
Tax-Free Short-Intermediate Fund—Advisor Class | None | None | None | None | None | None | None |
Tax-Free Short-Intermediate Fund—I Class | None | None | None | None | None | None | None |
86
Aggregate | Independent Directors | ||||||
Bazemore | Daniels | Duncan | Gerrard | McBride | Rouse | Schreiber | |
Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | Over $100,000 | |
Total Equity Market Index Fund | None | None | None | None | None | None | None |
Total Return Fund | None | None | None | None | None | None | None |
Total Return Fund—Advisor Class | None | None | None | None | None | None | None |
Total Return Fund—I Class | None | None | None | None | None | None | None |
Treasury Reserve Fund | None | None | None | None | None | None | None |
U.S. Bond Enhanced Index Fund | None | None | None | None | None | None | None |
U.S. Equity Research Fund | None | None | None | $50,001–$100,000 | None | None | None |
U.S. Equity Research Fund—Advisor Class | None | None | None | None | None | None | None |
U.S. Equity Research Fund—I Class | None | None | None | None | None | None | None |
U.S. Equity Research Fund—R Class | None | None | None | None | None | None | None |
U.S. High Yield Fund | None | None | None | None | None | None | None |
U.S. High Yield Fund—Advisor Class | None | None | None | None | None | None | None |
U.S. High Yield Fund—I Class | None | None | None | None | None | None | None |
U.S. Large-Cap Core Fund | None | None | None | $50,001–$100,000 | None | None | None |
U.S. Large-Cap Core Fund—Advisor Class | None | None | None | None | None | None | None |
U.S. Large-Cap Core Fund—I Class | None | None | None | None | None | None | None |
U.S. Treasury Intermediate Fund | None | None | None | None | None | None | Over $100,000 |
U.S. Treasury Intermediate Fund—I Class | None | None | None | None | None | None | None |
U.S. Treasury Long-Term Fund | None | None | None | None | None | None | Over $100,000 |
U.S. Treasury Long-Term Fund—I Class | None | None | None | None | None | None | None |
U.S. Treasury Money Fund | None | None | None | None | None | None | $10,001-$50,000 |
U.S. Treasury Money Fund—I Class | None | None | None | None | None | None | None |
Ultra Short-Term Bond Fund | None | None | None | Over $100,000 | None | None | None |
Ultra Short-Term Bond Fund—I Class | None | None | None | None | None | None | None |
Value Fund | None | None | None | $50,001-$100,000 | None | None | None |
Value Fund—Advisor Class | None | None | None | None | None | None | None |
Value Fund—I Class | None | None | None | $10,001-$50,000 | None | None | Over $100,000 |
Virginia Tax-Free Bond Fund | None | None | None | None | None | None | None |
Virginia Tax-Free Bond Fund—I Class | None | None | None | None | None | None | None |
Aggregate Holdings, | Inside Directors | |
Oestreicher | Sharps | |
Over $100,000 | Over $100,000 | |
Africa & Middle East Fund | None | None |
Africa & Middle East Fund—I Class | None | None |
Asia Opportunities Fund | None | None |
87
Aggregate Holdings, | Inside Directors | |
Oestreicher | Sharps | |
Over $100,000 | Over $100,000 | |
Asia Opportunities Fund—Advisor Class | None | None |
Asia Opportunities Fund—I Class | None | None |
Balanced Fund | None | None |
Balanced Fund—I Class | None | None |
Blue Chip Growth Fund | None | None |
Blue Chip Growth Fund—Advisor Class | None | None |
Blue Chip Growth Fund—I Class | None | None |
Blue Chip Growth Fund—R Class | None | None |
California Tax-Free Bond Fund | None | None |
California Tax-Free Bond Fund—I Class | None | None |
California Tax-Free Money Fund | None | None |
California Tax-Free Money Fund—I Class | None | None |
Capital Appreciation Fund | None | Over $100,000 |
Capital Appreciation Fund—Advisor Class | None | None |
Capital Appreciation Fund—I Class | None | None |
Cash Reserves Fund | None | Over $100,000 |
China Evolution Equity Fund | None | None |
China Evolution Equity Fund—I Class | None | None |
Communications & Technology Fund | None | None |
Communications & Technology Fund—I Class | None | None |
Corporate Income Fund | None | None |
Corporate Income Fund—I Class | None | None |
Credit Opportunities Fund | None | None |
Credit Opportunities Fund—Advisor Class | None | None |
Credit Opportunities Fund—I Class | None | None |
Diversified Mid-Cap Growth Fund | None | None |
Diversified Mid-Cap Growth Fund—I Class | None | None |
Dividend Growth Fund | None | Over $100,000 |
Dividend Growth Fund—Advisor Class | None | None |
Dividend Growth Fund—I Class | None | Over $100,000 |
Dynamic Credit Fund | None | None |
Dynamic Credit Fund—I Class | None | None |
Dynamic Global Bond Fund | None | None |
Dynamic Global Bond Fund—Advisor Class | None | None |
Dynamic Global Bond Fund—I Class | None | None |
Emerging Europe Fund | None | None |
Emerging Europe Fund—I Class | None | None |
Emerging Markets Bond Fund | None | None |
Emerging Markets Bond Fund—Advisor Class | None | None |
Emerging Markets Bond Fund—I Class | None | None |
Emerging Markets Corporate Bond Fund | None | None |
Emerging Markets Corporate Bond Fund—Advisor Class | None | None |
Emerging Markets Corporate Bond Fund—I Class | None | None |
Emerging Markets Corporate Multi-Sector Account Portfolio | None | None |
Emerging Markets Discovery Stock Fund | None | None |
Emerging Markets Discovery Stock Fund—Advisor Class | None | None |
Emerging Markets Discovery Stock Fund—I Class | None | None |
Emerging Markets Local Currency Bond Fund | None | None |
Emerging Markets Local Currency Bond Fund—Advisor Class | None | None |
Emerging Markets Local Currency Bond Fund—I Class | None | None |
Emerging Markets Local Multi-Sector Account Portfolio | None | None |
Emerging Markets Stock Fund | None | None |
Emerging Markets Stock Fund—I Class | None | None |
Equity Income Fund | $50,001–$100,000 | None |
Equity Income Fund—Advisor Class | None | None |
Equity Income Fund—I Class | None | None |
Equity Income Fund—R Class | None | None |
Equity Index 500 Fund | None | None |
88
Aggregate Holdings, | Inside Directors | |
Oestreicher | Sharps | |
Over $100,000 | Over $100,000 | |
Equity Index 500 Fund—I Class | None | None |
European Stock Fund | None | None |
European Stock Fund—I Class | None | None |
Extended Equity Market Index Fund | None | None |
Financial Services Fund | None | None |
Financial Services Fund—I Class | None | $50,001–$100,000 |
Floating Rate Fund | None | None |
Floating Rate Fund—Advisor Class | None | None |
Floating Rate Fund—I Class | None | Over $100,000 |
Floating Rate Multi-Sector Account Portfolio | None | None |
Georgia Tax-Free Bond Fund | None | None |
Georgia Tax-Free Bond Fund—I Class | None | None |
Global Allocation Fund | None | Over $100,000 |
Global Allocation Fund—Advisor Class | None | None |
Global Allocation Fund—I Class | None | None |
Global Consumer Fund | None | None |
Global Growth Stock Fund | None | None |
Global Growth Stock Fund—Advisor Class | None | None |
Global Growth Stock Fund—I Class | None | None |
Global High Income Bond Fund | None | None |
Global High Income Bond Fund—Advisor Class | None | None |
Global High Income Bond Fund—I Class | None | None |
Global Industrials Fund | None | None |
Global Industrials Fund—I Class | None | None |
Global Multi-Sector Bond Fund | None | None |
Global Multi-Sector Bond Fund—Advisor Class | None | None |
Global Multi-Sector Bond Fund—I Class | None | None |
Global Real Estate Fund | None | None |
Global Real Estate Fund—Advisor Class | None | None |
Global Real Estate Fund—I Class | None | $10,001–$50,000 |
Global Stock Fund | None | None |
Global Stock Fund—Advisor Class | None | None |
Global Stock Fund—I Class | None | Over $100,000 |
Global Technology Fund | None | None |
Global Technology Fund—I Class | None | None |
Global Value Equity Fund—I Class | None | None |
GNMA Fund | None | None |
GNMA Fund—I Class | None | None |
Government Money Fund | Over $100,000 | $10,001–$50,000 |
Government Money Fund—I Class | None | None |
Government Reserve Fund | None | None |
Growth & Income Fund | None | None |
Growth & Income Fund—I Class | None | None |
Growth Stock Fund | None | None |
Growth Stock Fund—Advisor Class | None | None |
Growth Stock Fund—I Class | None | None |
Growth Stock Fund—R Class | None | None |
Health Sciences Fund | None | None |
Health Sciences Fund—I Class | None | Over $100,000 |
High Yield Fund | None | Over $100,000 |
High Yield Fund—Advisor Class | None | None |
High Yield Fund—I Class | None | None |
High Yield Multi-Sector Account Portfolio | None | None |
Inflation Protected Bond Fund | None | None |
Inflation Protected Bond Fund—I Class | None | None |
Institutional Africa & Middle East Fund | None | None |
Institutional Cash Reserves Fund | None | None |
Institutional Core Plus Fund | None | None |
89
Aggregate Holdings, | Inside Directors | |
Oestreicher | Sharps | |
Over $100,000 | Over $100,000 | |
Institutional Emerging Markets Bond Fund | None | None |
Institutional Emerging Markets Equity Fund | None | None |
Institutional Floating Rate Fund | None | None |
Institutional Floating Rate Fund—F Class | None | None |
Institutional High Yield Fund | None | None |
Institutional International Core Equity Fund | None | None |
Institutional International Disciplined Equity Fund | None | None |
Institutional International Growth Equity Fund | None | None |
Institutional Large-Cap Core Growth Fund | None | None |
Institutional Long Duration Credit Fund | None | None |
Institutional Mid-Cap Equity Growth Fund | None | Over $100,000 |
Institutional Small-Cap Stock Fund | None | Over $100,000 |
Intermediate Tax-Free High Yield Fund | None | Over $100,000 |
Intermediate Tax-Free High Yield Fund—Advisor Class | None | None |
Intermediate Tax-Free High Yield Fund—I Class | None | None |
International Bond Fund | None | None |
International Bond Fund—Advisor Class | None | None |
International Bond Fund—I Class | None | None |
International Bond Fund (USD Hedged) | None | None |
International Bond Fund (USD Hedged)—Advisor Class | None | None |
International Bond Fund (USD Hedged)—I Class | None | None |
International Disciplined Equity Fund | None | None |
International Disciplined Equity Fund—Advisor Class | None | None |
International Disciplined Equity Fund—I Class | None | None |
International Discovery Fund | None | None |
International Discovery Fund—I Class | None | None |
International Equity Index Fund | None | None |
International Stock Fund | None | None |
International Stock Fund—Advisor Class | None | None |
International Stock Fund—I Class | None | None |
International Stock Fund—R Class | None | None |
International Value Equity Fund | None | None |
International Value Equity Fund—Advisor Class | None | None |
International Value Equity Fund—I Class | None | None |
International Value Equity Fund—R Class | None | None |
Investment Grade Multi-Sector Account Portfolio | None | None |
Japan Fund | None | None |
Japan Fund—I Class | None | None |
Latin America Fund | None | None |
Latin America Fund—I Class | None | $10,001–$50,000 |
Large-Cap Growth Fund | None | Over $100,000 |
Large-Cap Value Fund | None | None |
Limited Duration Inflation Focused Bond Fund | None | None |
Limited Duration Inflation Focused Bond Fund—I Class | None | None |
Maryland Short-Term Tax-Free Bond Fund | None | Over $100,000 |
Maryland Short-Term Tax-Free Bond Fund—I Class | None | None |
Maryland Tax-Free Bond Fund | None | Over $100,000 |
Maryland Tax-Free Bond Fund—I Class | None | None |
Maryland Tax-Free Money Fund | None | $1–$10,000 |
Maryland Tax-Free Money Fund—I Class | None | None |
Mid-Cap Growth Fund | None | None |
Mid-Cap Growth Fund—Advisor Class | None | None |
Mid-Cap Growth Fund—I Class | None | None |
Mid-Cap Growth Fund—R Class | None | None |
Mid-Cap Index Fund | None | None |
Mid-Cap Index Fund—I Class | None | None |
Mid-Cap Value Fund | None | None |
Mid-Cap Value Fund—Advisor Class | None | None |
90
Aggregate Holdings, | Inside Directors | |
Oestreicher | Sharps | |
Over $100,000 | Over $100,000 | |
Mid-Cap Value Fund—I Class | None | None |
Mid-Cap Value Fund—R Class | None | None |
Mortgage-Backed Securities Multi-Sector Account Portfolio | None | None |
Multi-Strategy Total Return Fund | None | None |
Multi-Strategy Total Return Fund—Advisor Class | None | None |
Multi-Strategy Total Return Fund—I Class | None | None |
New America Growth Fund | None | None |
New America Growth Fund—Advisor Class | None | None |
New America Growth Fund—I Class | None | Over $100,000 |
New Asia Fund | None | None |
New Asia Fund—I Class | None | Over $100,000 |
New Era Fund | None | None |
New Era Fund—I Class | None | None |
New Horizons Fund | None | None |
New Horizons Fund—I Class | None | None |
New Income Fund | None | None |
New Income Fund—Advisor Class | None | None |
New Income Fund—I Class | None | None |
New Income Fund—R Class | None | None |
New Jersey Tax-Free Bond Fund | None | None |
New Jersey Tax-Free Bond Fund—I Class | None | None |
New York Tax-Free Bond Fund | None | None |
New York Tax-Free Bond Fund—I Class | None | None |
New York Tax-Free Money Fund | None | None |
New York Tax-Free Money Fund—I Class | None | None |
Overseas Stock Fund | None | None |
Overseas Stock Fund—Advisor Class | None | None |
Overseas Stock Fund—I Class | None | None |
QM Global Equity Fund | None | None |
QM Global Equity Fund—Advisor Class | None | None |
QM Global Equity Fund—I Class | None | None |
QM U.S. Small & Mid-Cap Core Equity Fund | None | None |
QM U.S. Small & Mid-Cap Core Equity Fund—Advisor Class | None | None |
QM U.S. Small & Mid-Cap Core Equity Fund—I Class | None | None |
QM U.S. Small-Cap Growth Equity Fund | None | None |
QM U.S. Small-Cap Growth Equity Fund—Advisor Class | None | None |
QM U.S. Small-Cap Growth Equity Fund—I Class | None | None |
QM U.S. Value Equity Fund | None | None |
QM U.S. Value Equity Fund—Advisor Class | None | None |
QM U.S. Value Equity Fund—I Class | None | None |
Real Assets Fund | None | None |
Real Assets Fund—I Class | None | None |
Real Estate Fund | None | None |
Real Estate Fund—Advisor Class | None | None |
Real Estate Fund—I Class | None | None |
Retirement 2005 Fund | None | None |
Retirement 2005 Fund—Advisor Class | None | None |
Retirement 2005 Fund—R Class | None | None |
Retirement 2010 Fund | None | None |
Retirement 2010 Fund—Advisor Class | None | None |
Retirement 2010 Fund—R Class | None | None |
Retirement 2015 Fund | None | None |
Retirement 2015 Fund—Advisor Class | None | None |
Retirement 2015 Fund—R Class | None | None |
Retirement 2020 Fund | Over $100,000 | None |
Retirement 2020 Fund—Advisor Class | None | None |
Retirement 2020 Fund—R Class | None | None |
Retirement 2025 Fund | $10,001–$50,000 | None |
91
Aggregate
Holdings, | Inside Directors | |
Oestreicher | Sharps | |
Over $100,000 | Over $100,000 | |
Retirement 2025 Fund—Advisor Class | None | None |
Retirement 2025 Fund—R Class | None | None |
Retirement 2030 Fund | None | None |
Retirement 2030 Fund—Advisor Class | None | None |
Retirement 2030 Fund—R Class | None | None |
Retirement 2035 Fund | None | None |
Retirement 2035 Fund—Advisor Class | None | None |
Retirement 2035 Fund—R Class | None | None |
Retirement 2040 Fund | None | None |
Retirement 2040 Fund—Advisor Class | None | None |
Retirement 2040 Fund—R Class | None | None |
Retirement 2045 Fund | None | None |
Retirement 2045 Fund—Advisor Class | None | None |
Retirement 2045 Fund—R Class | None | None |
Retirement 2050 Fund | None | None |
Retirement 2050 Fund—Advisor Class | None | None |
Retirement 2050 Fund—R Class | None | None |
Retirement 2055 Fund | None | None |
Retirement 2055 Fund—Advisor Class | None | None |
Retirement 2055 Fund—R Class | None | None |
Retirement 2060 Fund | None | None |
Retirement 2060 Fund—Advisor Class | None | None |
Retirement 2060 Fund—R Class | None | None |
Retirement Balanced Fund | None | None |
Retirement Balanced Fund—Advisor Class | None | None |
Retirement Balanced Fund—R Class | None | None |
Retirement I 2005 Fund—I Class | None | None |
Retirement I 2010 Fund—I Class | None | None |
Retirement I 2015 Fund—I Class | None | None |
Retirement I 2020 Fund—I Class | None | None |
Retirement I 2025 Fund—I Class | None | None |
Retirement I 2030 Fund—I Class | None | None |
Retirement I 2035 Fund—I Class | None | None |
Retirement I 2040 Fund—I Class | None | None |
Retirement I 2045 Fund—I Class | None | None |
Retirement I 2050 Fund—I Class | None | None |
Retirement I 2055 Fund—I Class | None | None |
Retirement I 2060 Fund—I Class | None | None |
Retirement Balanced I Fund—I Class | None | None |
Retirement Income 2020 Fund | None | None |
Science & Technology Fund | None | None |
Science & Technology Fund—Advisor Class | None | None |
Science & Technology Fund—I Class | None | None |
Short-Term Fund | None | None |
Short-Term Bond Fund | None | None |
Short-Term Bond Fund—Advisor Class | None | None |
Short-Term Bond Fund—I Class | None | None |
Short-Term Government Fund | None | None |
Small-Cap Index Fund | None | None |
Small-Cap Index Fund—I Class | None | None |
Small-Cap Stock Fund | None | None |
Small-Cap Stock Fund—Advisor Class | None | None |
Small-Cap Stock Fund—I Class | None | None |
Small-Cap Value Fund | None | None |
Small-Cap Value Fund—Advisor Class | None | None |
Small-Cap Value Fund—I Class | None | None |
Spectrum Conservative Allocation Fund | None | None |
Spectrum Conservative Allocation Fund—I Class | None | None |
92
Aggregate
Holdings, | Inside Directors | |
Oestreicher | Sharps | |
Over $100,000 | Over $100,000 | |
Spectrum Growth Fund | None | Over $100,000 |
Spectrum Income Fund | None | None |
Spectrum International Fund | None | None |
Spectrum Moderate Allocation Fund | None | None |
Spectrum Moderate Allocation Fund—I Class | None | None |
Spectrum Moderate Growth Allocation Fund | None | None |
Spectrum Moderate Growth Allocation Fund—I Class | None | None |
Summit Municipal Income Fund | None | None |
Summit Municipal Income Fund—Advisor Class | None | None |
Summit Municipal Income Fund—I Class | None | None |
Summit Municipal Intermediate Fund | None | None |
Summit Municipal Intermediate Fund—Advisor Class | None | None |
Summit Municipal Intermediate Fund—I Class | None | None |
Summit Municipal Money Market Fund | None | None |
Target 2005 Fund | None | None |
Target 2005 Fund—Advisor Class | None | None |
Target 2005 Fund—I Class | None | None |
Target 2010 Fund | None | None |
Target 2010 Fund—Advisor Class | None | None |
Target 2010 Fund—I Class | None | None |
Target 2015 Fund | None | None |
Target 2015 Fund—Advisor Class | None | None |
Target 2015 Fund—I Class | None | None |
Target 2020 Fund | None | None |
Target 2020 Fund—Advisor Class | None | None |
Target 2020 Fund—I Class | None | None |
Target 2025 Fund | None | None |
Target 2025 Fund—Advisor Class | None | None |
Target 2025 Fund—I Class | None | None |
Target 2030 Fund | None | None |
Target 2030 Fund—Advisor Class | None | None |
Target 2030 Fund—I Class | None | None |
Target 2035 Fund | None | None |
Target 2035 Fund—Advisor Class | None | None |
Target 2035 Fund—I Class | None | None |
Target 2040 Fund | None | None |
Target 2040 Fund—Advisor Class | None | None |
Target 2040 Fund—I Class | None | None |
Target 2045 Fund | None | None |
Target 2045 Fund—Advisor Class | None | None |
Target 2045 Fund—I Class | None | None |
Target 2050 Fund | None | None |
Target 2050 Fund—Advisor Class | None | None |
Target 2050 Fund—I Class | None | None |
Target 2055 Fund | None | None |
Target 2055 Fund—Advisor Class | None | None |
Target 2055 Fund—I Class | None | None |
Target 2060 Fund | None | None |
Target 2060 Fund—Advisor Class | None | None |
Target 2060 Fund—I Class | None | None |
Tax-Efficient Equity Fund | None | Over $100,000 |
Tax-Efficient Equity Fund—I Class | None | None |
Tax-Exempt Money Fund | None | None |
Tax-Exempt Money Fund—I Class | None | None |
Tax-Free High Yield Fund | None | Over $100,000 |
Tax-Free High Yield Fund—Advisor Class | None | None |
Tax-Free High Yield Fund—I Class | None | None |
Tax-Free Income Fund | None | None |
93
Aggregate Holdings, | Inside Directors | |
Oestreicher | Sharps | |
Over $100,000 | Over $100,000 | |
Tax-Free Income Fund—Advisor Class | None | None |
Tax-Free Income Fund—I Class | None | None |
Tax-Free Short-Intermediate Fund | None | None |
Tax-Free Short-Intermediate Fund—Advisor Class | None | None |
Tax-Free Short-Intermediate Fund—I Class | None | None |
Total Equity Market Index Fund | None | None |
Total Return Fund | None | None |
Total Return Fund—Advisor Class | None | None |
Total Return Fund—I Class | None | None |
Treasury Reserve Fund | None | None |
U.S. Bond Enhanced Index Fund | None | None |
U.S. Equity Research Fund | None | None |
U.S. Equity Research Fund—Advisor Class | None | None |
U.S. Equity Research Fund—I Class | None | None |
U.S. Equity Research Fund—R Class | None | None |
U.S. High Yield Fund | None | None |
U.S. High Yield Fund—Advisor Class | None | None |
U.S. High Yield Fund—I Class | None | None |
U.S. Large-Cap Core Fund | None | None |
U.S. Large-Cap Core Fund—Advisor Class | None | None |
U.S. Large-Cap Core Fund—I Class | None | None |
U.S. Treasury Intermediate Fund | None | None |
U.S. Treasury Intermediate Fund—I Class | None | None |
U.S. Treasury Long-Term Fund | None | None |
U.S. Treasury Long-Term Fund—I Class | None | None |
U.S. Treasury Money Fund | $1–$10,000 | Over $100,000 |
U.S. Treasury Money Fund—I Class | None | None |
Ultra Short-Term Bond Fund | None | None |
Ultra Short-Term Bond Fund—I Class | None | Over $100,000 |
Value Fund | None | None |
Value Fund—Advisor Class | None | None |
Value Fund—I Class | None | None |
Virginia Tax-Free Bond Fund | None | None |
Virginia Tax-Free Bond Fund—I Class | None | None |
Portfolio Managers’ Holdings in the Price Funds
The following tables set forth ranges of holdings for each Price Fund’s portfolio manager. Each portfolio manager serves as chairman of the applicable fund’s Investment Advisory Committee and has day-to-day responsibility for managing the fund and executing the fund’s investment program. Portfolio managers are encouraged to invest in the funds they manage to align their interests with those of fund shareholders. Exceptions may arise when, for example, tax considerations, jurisdictional constraints or the nature of the fund make the investment inappropriate for the portfolio manager. The column titled “Range of Fund Holdings as of Fund’s Fiscal Year” shows the dollar range of shares beneficially owned (including shares held through the T. Rowe Price 401(k) plan and other T. Rowe Price retirement plans or deferred compensation plans) in the fund for which he or she serves as portfolio manager, as of the end of that fund’s most recent fiscal year. The column titled “Range of Holdings in Investment Strategy as of Fund’s Fiscal Year” shows the dollar range of shares beneficially owned (including shares or units held through the T. Rowe Price 401(k) plan and other T. Rowe Price retirement plans or deferred compensation plans) in the fund, as well as all investment portfolios that are managed by the same portfolio manager and have investment objectives, policies, and strategies that are substantially similar to those of the fund. Substantially similar portfolios may include other Price Funds, such as institutional funds, T. Rowe Price common trust funds, and non-U.S. pooled investment vehicles, such as Societe d’Investissement a Capital Variable Funds (SICAVs). The range of holdings for all investment portfolios within the investment strategy is provided as of the end of the fund’s most recent fiscal year, regardless of the fiscal years of the other investment portfolios.
94
Fund | Portfolio Manager | Range of Fund | Range of Holdings in Investment Strategy as of Fund’s Fiscal Yeara |
Africa & Middle East Fund | Oliver D.M. Bell | None | None |
Asia Opportunities Fund | Eric C. Moffett | Over $1,000,000 | Over $1,000,000 |
Balanced Fund | Charles M. Shriver Toby M. Thompson | $100,001-$500,000 None | $100,001-$500,000 None |
Blue Chip Growth Fund | Larry J. Puglia | Over $1,000,000 | Over $1,000,000 |
Capital Appreciation Fund | David R. Giroux | $100,001-$500,000 | Over $1,000,000 |
Cash Reserves Fund | Joseph K. Lynagh Douglas D. Spratley | $1–$10,000 (b) | $10,001–$50,000 (b) |
China Evolution Equity Fund | Wehli Zheng | (c) | (c) |
Communications & Technology Fund | James Stillwagon | None | None |
Corporate Income Fund | Steve Boothe Lauren T. Wagandt | $100,001-$500,000 None | $100,001-$500,000 None |
Credit Opportunities Fund | Rodney M. Rayburn | $100,001-$500,000 | $500,001-$1,000,000 |
Diversified Mid-Cap Growth Fund | Donald J. Easley Donald J. Peters | Over $1,000,000 Over $1,000,000 | Over $1,000,000 Over $1,000,000 |
Dividend Growth Fund | Thomas J. Huber | Over $1,000,000 | Over $1,000,000 |
Dynamic Credit Fund | Saurabh Sud | $50,001-$100,000 | $50,001-$100,000 |
Dynamic Global Bond Fund | Arif Husain | None | $100,001-$500,000 |
Emerging Europe Fund | Ulle Adamson | None | None |
Emerging Markets Bond Fund | Michael J. Conelius | $100,001-$500,000 | Over $1,000,000 |
Emerging Markets Corporate Bond Fund | Samy B. Muaddi | $100,001-$500,000 | $100,001-$500,000 |
Emerging Markets Discovery Stock Fund | Ernest C. Yeung | Over $1,000,000 | Over $1,000,000 |
Emerging Markets Local Currency Bond Fund | Andrew J. Keirle | $10,001-$50,000 | $100,001-$500,000 |
Emerging Markets Stock Fund | Gonzalo Pangaro | Over $1,000,000 | Over $1,000,000 |
Equity Income Fund | John D. Linehan | Over $1,000,000 | Over $1,000,000 |
Equity Index 500 Fund | Alexa M. Gagliardi | None | $10,001-$50,000 |
European Stock Fund | Dean Tenerelli | None | $500,001–$1,000,000 |
Extended Equity Market Index Fund | Alexa M. Gagliardi | $10,001-$50,000 | $10,001-$50,000 |
Financial Services Fund | Gabriel Solomon | $50,001-$100,000 | $50,001-$100,000 |
Floating Rate Fund | Paul M. Massaro | $100,001-$500,000 | $100,001-$500,000 |
Global Allocation Fund | Charles M. Shriver Toby M. Thompson | $500,001–$1,000,000 (d) | Over $1,000,000 (d) |
Global Consumer Fund | Jason Nogueira | Over $1,000,000 | Over $1,000,000 |
Global Growth Stock Fund | R. Scott Berg | $500,001–$1,000,000 | Over $1,000,000 |
Global High Income Bond Fund | Michael F. Connelley Samy B. Muaddi Michael Della Vedova | $1–$10,000 None None | $500,001-$1,000,000 None None |
Global Industrials Fund | Peter J. Bates Jason R. Adams | Over $1,000,000 (e) | Over $1,000,000 (e) |
Global Multi-Sector Bond Fund | Kenneth A Orchard | None | $10,001-$50,000 |
Global Real Estate Fund | Nina P. Jones | $100,001-$500,000 | $100,001-$500,000 |
Global Stock Fund | David J. Eiswert | Over $1,000,000 | Over $1,000,000 |
Global Technology Fund | Alan Tu | $100,001-$500,000 | $100,001-$500,000 |
95
Fund | Portfolio Manager | Range of Fund | Range of Holdings in Investment Strategy as of Fund’s Fiscal Yeara |
Global Value Equity Fund | Sebastien Mallet | None | $100,001–$500,000 |
GNMA Fund | Keir R. Joyce | $50,001-$100,000 | $50,001-$100,000 |
Government Money Fund | Joseph K. Lynagh Douglas D. Spratley | $10,001-$50,000 (b) | $50,001-$100,000 (b) |
Growth & Income Fund | Jeffrey Rottinghaus | None | $500,001-$1,000,000 |
Growth Stock Fund | Joseph B. Fath | None | Over $1,000,000 |
Health Sciences Fund | Ziad Bakri | $100,001-$500,000 | $100,001-$500,000 |
High Yield Fund | Rodney M. Rayburn | None | None |
Inflation Protected Bond Fund | Stephen L. Bartolini Michael K. Sewell | $10,001-$50,000 (f) | $10,001-$50,000 (f) |
Institutional Africa & Middle East Fund | Oliver D.M. Bell | None | None |
Institutional Cash Reserves Fund | Joseph K. Lynagh Douglas D. Spratley | None (b) | $50,001-$100,000 (b) |
Institutional Core Plus Fund | Brian J. Brennan | $100,001-$500,000 | $100,001-$500,000 |
Institutional Emerging Markets Bond Fund | Michael J. Conelius | $500,001-$1,000,000 | Over $1,000,000 |
Institutional Emerging Markets Equity Fund | Gonzalo Pangaro | Over $1,000,000 | Over $1,000,000 |
Institutional Floating Rate Fund | Paul M. Massaro | $100,001-$500,000 | $100,001-$500,000 |
Institutional High Yield Fund | Rodney M. Rayburn | None | None |
Institutional International Core Equity Fund | Raymond A. Mills | None | Over $1,000,000 |
Institutional International Disciplined Equity Fund | Federico Santilli | None | $100,001–$500,000 |
Institutional International Growth Equity Fund | Richard N. Clattenburg | None | $100,001–$500,000 |
Institutional Large-Cap Core Growth Fund | Larry J. Puglia | None | Over $1,000,000 |
Institutional Long Duration Credit Fund | Robert M. Larkins | None | None |
Institutional Mid-Cap Equity Growth Fund | Brian W.H. Berghuis | Over $1,000,000 | Over $1,000,000 |
Institutional Small-Cap Stock Fund | Francisco M. Alonso | Over $1,000,000 | Over $1,000,000 |
Intermediate Tax-Free High Yield Fund | James M. Murphy | $50,001–$100,000 | $50,001–$100,000 |
International Bond Fund | Arif Husain Kenneth A. Orchard | None None | None $10,001-$50,000 |
International Bond Fund (USD Hedged) | Arif Husain Kenneth A. Orchard | None None | None None |
International Disciplined Equity Fund | Federico Santilli | None | $100,001–$500,000 |
International Discovery Fund | Benjamin Griffiths Justin Thomson | (g) $500,001–$1,000,000 | (g) $500,001–$1,000,000 |
International Equity Index Fund | Neil Smith | None | None |
International Stock Fund | Richard N. Clattenburg | None | $100,001–$500,000 |
International Value Equity Fund | Colin McQueen | None | None |
Japan Fund | Archibald Ciganer | None | None |
Large-Cap Growth Fund | Taymour R. Tamaddon | Over $1,000,000 | Over $1,000,000 |
96
Fund | Portfolio Manager | Range of Fund | Range of Holdings in Investment Strategy as of Fund’s Fiscal Yeara |
Large-Cap Value Fund | Mark S. Finn John D. Linehan Heather K. McPherson | $500,001–$1,000,000 $500,001–$1,000,000 Over $1,000,000 | $500,001–$1,000,000 Over $1,000,000 Over $1,000,000 |
Latin America Fund | Verena E. Wachnitz | $100,001–$500,000 | $100,001–$500,000 |
Limited Duration Inflation Focused Bond Fund | Stephen L. Bartolini Michael K. Sewell | $10,001-$50,000 (f) | $10,001-$50,000 (f) |
Mid-Cap Growth Fund | Brian W.H. Berghuis | Over $1,000,000 | Over $1,000,000 |
Mid-Cap Value Fund | David J. Wallack | None | Over $1,000,000 |
Multi-Strategy Total Return Fund | Richard de los Reyes Stefan Hubrich | Over $1,000,000 $500,001–$1,000,000 | Over $1,000,000 $500,001–$1,000,000 |
New America Growth Fund | Justin P. White | Over $1,000,000 | Over $1,000,000 |
New Asia Fund | Anh Lu | Over $1,000,000 | Over $1,000,000 |
New Era Fund | Shawn T. Driscoll | $100,001–$500,000 | $100,001–$500,000 |
New Horizons Fund | Joshua K. Spencer | None | Over $1,000,000 |
New Income Fund | Stephen L. Bartolini | $50,001-$100,000 | $50,001-$100,000 |
Overseas Stock Fund | Raymond A. Mills | None | Over $1,000,000 |
QM Global Equity Fund | Sudhir Nanda | $100,001–$500,000 | $100,001–$500,000 |
QM U.S. Small & Mid-Cap Core Equity Fund | Vidya Kadiyam Prashant G. Jeyaganesh Navneesh Malhan Sudhir Nanda | (h) $10,001-$50,000 (h) $50,001–$100,000 | (h) $10,001-$50,000 (h) $50,001–$100,000 |
QM U.S. Small-Cap Growth Equity Fund | Sudhir Nanda | $500,001–$1,000,000 | $500,001–$1,000,000 |
QM U.S. Value Equity Fund | Farris G. Shuggi | $50,001-$100,000 | $50,001-$100,000 |
Real Assets Fund | Richard A. Coghlan Christopher Faulkner-MacDonagh | $10,001-$50,000 None | $50,001–$100,000 $10,001-$50,000 |
Real Estate Fund | Nina P. Jones | $100,001–$500,000 | $100,001–$500,000 |
Science & Technology Fund | Kennard W. Allen | $500,001–$1,000,000 | Over $1,000,000 |
Short-Term Bond Fund | Michael F. Reinartz | None | None |
Small-Cap Stock Fund | Francisco M. Alonso | None | Over $1,000,000 |
Small-Cap Value Fund | J. David Wagner | $100,001–$500,000 | Over $1,000,000 |
Spectrum Conservative Allocation Fund | Charles M. Shriver Toby M. Thompson | $100,001-$500,000 (d) | $100,001-$500,000 (d) |
Spectrum Growth Fund | Charles M. Shriver Toby M. Thompson | $100,001-$500,000 None | $100,001-$500,000 None |
Spectrum Income Fund | Charles M. Shriver Toby M. Thompson | $100,001-$500,000 None | $100,001-$500,000 None |
Spectrum International Fund | Charles M. Shriver Toby M. Thompson | $100,001-$500,000 None | $100,001-$500,000 None |
Spectrum Moderate Allocation Fund | Charles M. Shriver Toby M. Thompson | $100,001-$500,000 (d) | $100,001-$500,000 (d) |
Spectrum Moderate Growth Allocation Fund | Charles M. Shriver Toby M. Thompson | $100,001-$500,000 (d) | $100,001-$500,000 (d) |
Summit Municipal Income Fund | Konstantine B. Mallas | $100,001–$500,000 | $500,001-$1,000,000 |
Summit Municipal Intermediate Fund | Charles B. Hill | $500,001-$1,000,000 | $500,001-$1,000,000 |
Summit Municipal Money Market Fund | Joseph K. Lynagh Douglas D. Spratley | None (b) | $1–$10,000 (b) |
Tax-Efficient Equity Fund | Donald J. Peters | Over $1,000,000 | Over $1,000,000 |
Tax-Exempt Money Fund | Joseph K. Lynagh Douglas D. Spratley | $1–$10,000 (b) | $1–$10,000 (b) |
97
Fund | Portfolio Manager | Range of Fund | Range of Holdings in Investment Strategy as of Fund’s Fiscal Yeara |
Tax-Free High Yield Fund | James M. Murphy | $100,001–$500,000 | $100,001–$500,000 |
Tax-Free Income Fund | Konstantine B. Mallas | $500,001–$1,000,000 | $500,001–$1,000,000 |
Tax-Free Short-Intermediate Fund | Charles B. Hill | $1–$10,000 | $10,001–$50,000 |
Total Equity Market Index Fund | Alexa M. Gagliardi | $10,001-$50,000 | $10,001-$50,000 |
Total Return Fund | Christopher P. Brown, Jr. | $100,001-$500,000 | $100,001-$500,000 |
U.S. Bond Enhanced Index Fund | Robert M. Larkins | None | $10,001–$50,000 |
U.S. Equity Research Fund | Ann M. Holcomb Joshua Nelson Jason B. Polun Thomas H. Watson | $100,001-$500,000 None None None | Over $1,000,000 None $500,001–$1,000,000 $500,001–$1,000,000 |
U.S. High Yield Fund | Kevin P. Loome | $100,001-$500,000 | $100,001-$500,000 |
U.S. Large-Cap Core Fund | Jeffrey Rottinghaus | Over $1,000,000 | Over $1,000,000 |
U.S. Treasury Intermediate Fund | Brian J. Brennan | $10,001-$50,000 | $10,001-$50,000 |
U.S. Treasury Long-Term Fund | Brian J. Brennan | $10,001-$50,000 | $10,001-$50,000 |
U.S. Treasury Money Fund | Joseph K. Lynagh Douglas D. Spratley | $50,001-$100,000 (b) | $50,001-$100,000 (b) |
Ultra Short-Term Bond Fund | Joseph K. Lynagh Alexander S. Obaza | $100,001-$500,000 | $100,001-$500,000 (i) |
Value Fund | Mark S. Finn | Over $1,000,000 | Over $1,000,000 |
(a) See table beginning on page 14 for the fiscal year of the funds. The range of fund holdings as of the fund’s fiscal year is updated concurrently with each fund’s prospectus date as shown in the table beginning on page 14.
(b) Effective March 1, 2020, Douglas D. Spratley became co-portfolio manager of the fund; therefore, the range of holdings is not yet available.
(c) The fund incepted on December 10, 2019; therefore, the range of holdings is not yet available.
(d) Effective March 1, 2020, Toby M. Thompson became co-portfolio manager of the fund; therefore, the range of holdings is not yet available.
(e) Effective March 1, 2020, Jason R. Adams became co-portfolio manager of the fund; therefore, the range of holdings is no
(f) Effective February 1, 2020, Michael K. Sewell became co-portfolio manager, of the fund, therefore, the range of holdings is not yet
(g) Effective March 1, 2020, Benjamin Griffiths became co-portfolio manager of the fund; therefore, the range of holdings is not yet available.
(h) Effective April 1, 2020, Vidya Kadiyam and Navneesh Malhan became co-portfolio managers of the fund; therefore, the range of holdings is not yet available.
(i) Effective March 1, 2020, Alexander S. Obaza became co-portfolio manager of the fund; therefore, the range of holdings is not yet available.
The following funds are generally designed to be sold to persons residing in the state referenced in the fund’s name. Since the portfolio managers reside in Maryland, they do not typically invest in funds designed to provide tax benefits for residents of other states.
Fund | Portfolio Manager | Range of Fund | Range of Holdings in Investment Strategy as of Fund’s Fiscal Yeara |
California Tax-Free Bond Fund | Austin Applegate Konstantine B. Mallas | (b) None | (b) $100,001–$500,000 |
California Tax-Free Money Fund | Joseph K. Lynagh Douglas D. Spratley | None (c) | $1–$10,000 (c) |
Georgia Tax-Free Bond Fund | Hugh D. McGuirk | None | $500,001–$1,000,000 |
Maryland Short-Term Tax-Free Bond Fund | Charles B. Hill | $1–$10,000 | $10,001–$50,000 |
Maryland Tax-Free Bond Fund | Hugh D. McGuirk | $500,001–$1,000,000 | $500,001–$1,000,000 |
Maryland Tax-Free Money Fund | Joseph K. Lynagh Douglas D. Spratley | $1–$10,000 (c) | $1–$10,000 (c) |
New Jersey Tax-Free Bond Fund | Konstantine B. Mallas | None | $100,001–$500,000 |
New York Tax-Free Bond Fund | Konstantine B. Mallas | None | $100,001–$500,000 |
98
Fund | Portfolio Manager | Range of Fund | Range of Holdings in Investment Strategy as of Fund’s Fiscal Yeara |
New York Tax-Free Money Fund | Joseph K. Lynagh Douglas D. Spratley | None (c) | $1–$10,000 (c) |
Virginia Tax-Free Bond Fund | Hugh D. McGuirk | None | $500,001–$1,000,000 |
(a) See table beginning on page 14 for the fiscal year of the funds. The range of fund holdings as of the fund’s fiscal year is updated concurrently with each fund’s prospectus date as shown in the table beginning on page 14.
(b) Effective January 1, 2020, Austin Applegate became co-portfolio manager of the fund; therefore, the range of holding is not yet available.
(c) Effective March 1, 2020, Douglas D. Spratley became co-portfolio manager of the fund; therefore, the range of holdings is not yet available.
The following Target Date Funds are designed to provide a diversified portfolio that becomes more conservative over time based on an expected retirement year.
Fund | Portfolio Manager | Range of Fund | Range of Holdings in Investment Strategy as |
Retirement 2005 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement 2010 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement 2015 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement 2020 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement 2025 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement 2030 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement 2035 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b (c) $50,001-$100,000 | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement 2040 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b (c) $100,001-$500,000 | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement 2045 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement 2050 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement 2055 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
99
Fund | Portfolio Manager | Range of Fund | Range of Holdings in Investment Strategy as |
Retirement 2060 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement Balanced Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2005 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2010 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2015 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2020 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2025 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2030 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2035 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2040 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2045 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2050 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2055 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement I 2060 Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
Retirement Balanced I Fund—I Class | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | Over $1,000,000 (b) (c) Over $1,000,000 |
100
Fund | Portfolio Manager | Range of Fund | Range of Holdings in Investment Strategy as |
Retirement Income 2020 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None None None | Over $1,000,000 Over $1,000,000 Over $1,000,000 Over $1,000,000 |
Target 2005 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b (c) None |
Target 2010 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
Target 2015 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
Target 2020 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
Target 2025 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
Target 2030 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
Target 2035 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
Target 2040 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
Target 2045 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
Target 2050 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
Target 2055 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
Target 2060 Fund | Jerome A. Clark Kimberly E. DeDominicis Andrew Jacobs van Merlen Wyatt A. Lee | None (b) (c) None | None (b) (c) None |
(a) See table beginning on page 14 for the fiscal year of the funds. The range of fund holdings as of the fund’s fiscal year is updated concurrently with each fund’s prospectus date as shown in the table beginning on page 14.
(b) Effective October 1, 2019, Kimberly E. DeDominicis became the co-portfolio manager of the fund; therefore, the range of holdings is not yet available.
(c) Effective January 1, 2020, Andrew Jacobs van Merlen became the co-portfolio manager of the fund; therefore, the range of holdings is not yet available.
101
The following funds are not available for direct purchase by members of the public. Therefore, the portfolio manager is not permitted to invest directly in the fund.
Fund | Portfolio Manager | Range of Fund | Range of Holdings in Investment Strategy as of Fund’s Fiscal Yeara |
Emerging Markets Corporate Multi-Sector Account Portfolio | Samy B. Muaddi | None | $100,001–$500,000 |
Emerging Markets Local Multi-Sector Account Portfolio | Andrew J. Keirle | None | $100,001–$500,000 |
Floating Rate Multi-Sector Account Portfolio | Paul M. Massaro | None | $100,001–$500,000 |
Government Reserve Fund | Joseph K. Lynagh Douglas D. Spratley | None (b) | $50,001-$100,000 (b) |
High Yield Multi-Sector Account Portfolio | Michael F. Connelley | (c) | (c) |
Investment-Grade Corporate Multi-Sector Account Portfolio | Steve Boothe | None | $100,001–$500,000 |
Mid-Cap Index Fund | Alexa M. Gagliardi (d) | None | None |
Mortgage-Backed Securities Multi-Sector Account Portfolio | Keir R. Joyce | None | None |
Short-Term Fund | Joseph K. Lynagh Douglas D. Spratley | None (b) | None (b) |
Short-Term Government Fund | Joseph K. Lynagh Douglas D. Spratley | (e) (e) | None (b) |
Small-Cap Index Fund | Alexa M. Gagliardi (d) | None | None |
Treasury Reserve Fund | Joseph K. Lynagh Douglas D. Spratley | None (b) | None (b) |
(a) See table beginning on page 14 for the fiscal year of the funds. The range of fund holdings as of the fund’s fiscal year is updated concurrently with each fund’s prospectus date as shown in the table beginning on page 14.
(b) Effective March 1, 2020, Douglas D. Spratley became co-portfolio manager of the fund; therefore, the range of holdings is not yet available.
(c) Effective January 1, 2020, Michael F. Connelley became portfolio manager of the fund; therefore, the range of holdings is not yet available.
(d) Effective September 1, 2019, Alexa M. Gagliardi replaced Ken D. Uematsu as portfolio manager of the fund; therefore the range of holdings is not yet available.
(e) The fund has not incepted; therefore the range of fund holdings is not yet available.
Portfolio Manager Compensation
Portfolio manager compensation consists primarily of a base salary, a cash bonus, and an equity incentive that usually comes in the form of restricted stock grants. Compensation is variable and is determined based on the following factors.
Investment performance over 1-, 3-, 5-, and 10-year periods is the most important input. The weightings for these time periods are generally balanced and are applied consistently across similar strategies. T. Rowe Price (and Price Hong Kong, Price Singapore, Price Japan, and T. Rowe Price International, as appropriate) evaluates performance in absolute, relative, and risk-adjusted terms. Relative performance and risk-adjusted performance are typically determined with reference to the broad-based index (e.g., S&P 500 Index) and the Lipper average or index (e.g., Large-Cap Growth Index) set forth in the total returns table in the fund’s prospectus, although other benchmarks may be used as well. Investment results are also measured against comparably managed funds of competitive investment management firms. The selection of comparable funds is approved by the applicable investment steering committee (as described under the “Disclosure of Fund Portfolio Information” section) and is the same as the selection presented to the directors of the Price Funds in their regular review of fund performance. Performance is primarily measured on a pretax basis, although tax efficiency is considered and is especially important for the Tax-Efficient Equity Fund.
Compensation is viewed with a long-term time horizon. The more consistent a manager’s performance over time, the higher the compensation opportunity. The increase or decrease in a fund’s assets due to the purchase or sale of fund shares is not considered a material factor. In reviewing relative performance for fixed income funds, a fund’s expense ratio is usually taken into account. Contribution to T. Rowe Price’s overall investment process is an important consideration as well. Leveraging ideas and investment insights across the global investment platform; working effectively with and mentoring others; and other contributions to our clients, the firm, or our culture are important components of T. Rowe Price’s long-term success and are generally taken into consideration.
102
All employees of T. Rowe Price, including portfolio managers, participate in a 401(k) plan sponsored by T. Rowe Price Group. In addition, all employees are eligible to purchase T. Rowe Price common stock through an employee stock purchase plan that features a limited corporate matching contribution. Eligibility for and participation in these plans is on the same basis for all employees. Finally, all vice presidents of T. Rowe Price Group, including all portfolio managers, receive supplemental medical/hospital reimbursement benefits and are eligible to participate in a supplemental savings plan sponsored by T. Rowe Price Group.
This compensation structure is used when evaluating the performance of all portfolios (including the Price Funds) managed by the portfolio manager.
Assets Under Management
The following table sets forth the number and total assets of the mutual funds and accounts managed by the Price Funds’ portfolio managers as of the most recent fiscal year end of the funds they manage, unless otherwise indicated. All of the assets of the funds that have multiple portfolio managers are shown as being allocated to all co-portfolio managers of those funds. There are no accounts for which the advisory fee is based on the performance of the account.
Registered Investment | Other
Pooled Investment | Other Accounts | ||||
Portfolio Manager | Number | Total Assets | Number | Total Assets | Number | Total Assets |
Jason R. Adams (a) | — | — | — | — | — | — |
Ulle Adamson | 1 | $155,710,064 | 1 | $8,737,643 | 0 | — |
Kennard W. Allen | 4 | 5,658,491,913 | 1 | 6,020,009 | 0 | — |
Francisco M. Alonso | 5 | 16,759,319,187 | 2 | 2,774,164,943 | 2 | 606,609,721 |
Ziad Bakri | 6 | 14,429,328,399 | 0 | — | 1 | 104,009,391 |
Austin Applegate (b) | — | — | — | — | — | — |
Stephen L. Bartolini | 7 | 39,611,349,568 | 5 | 12,019,165,205 | 1 | 112,231,233 |
Peter J. Bates | 1 | 19,419,419 | 0 | — | 0 | — |
Oliver D.M. Bell | 3 | 205,032,180 | 2 | 242,380,309 | 0 | — |
R. Scott Berg | 2 | 691,342,971 | 14 | 5,164,571,679 | 5 | 1,179,648,645 |
Brian W.H. Berghuis | 10 | 62,415,000,779 | 1 | 4,117,237,721 | 6 | 2,232,967,805 |
Steve Boothe | 2 | 900,651,779 | 5 | 1,967,524,401 | 1 | 2,556,383,289 |
Brian J. Brennan | 4 | 6,573,745,002 | 7 | 6,763,289,398 | 5 | 1,177,777,182 |
Christopher P. Brown, Jr. | 1 | 47,690,397 | 0 | — | 2 | 727,186,029 |
Archibald Ciganer | 1 | 772,047,051 | 8 | 2,375,827,984 | 1 | 437,876,420 |
Jerome A. Clark | 103 | 186,514,158,069 | 72 | 130,238,244,795 | 0 | — |
Richard N. Clattenburg | 6 | 16,241,721,767 | 2 | 6,720,884,717 | 0 | — |
Richard A. Coghlan | 1 | 2,760,613,032 | 1 | 1,279,074,292 | 0 | — |
Michael J. Conelius | 3 | 6,571,304,703 | 7 | 3,218,320,387 | 1 | 14,898 |
Michael F. Connelley (b) | — | — | — | — | — | — |
Kimberly E. DeDominicis | 60 | 236,305,549,244 | 56 | 129,551,501,942 | 0 | — |
Richard de los Reyes | 1 | 61,886,703 | 0 | — | 0 | — |
Michael Della Vedova | 1 | 97,051,733 | 6 | 3,128,051,922 | 1 | 10,291,436 |
Shawn T. Driscoll | 3 | 6,355,861,049 | 4 | 1,508,051,687 | 2 | 211,003,919 |
Donald J. Easley | 5 | 4,423,226,171 | 0 | — | 7 | 295,176,008 |
David J. Eiswert | 2 | 2,332,256,696 | 18 | 5,644,759,781 | 8 | 5,335,872,380 |
Joseph B. Fath | 13 | 79,021,541,609 | 6 | 18,348,506,759 | 8 | 2,639,857,341 |
Christopher Faulkner—MacDonagh | 9 | 21,417,649,764 | 4 | 7,668,504,279 | 1 | 2,461,312 |
Mark S. Finn | 10 | 36,947,479,366 | 12 | 16,711,492,708 | 27 | 5,206,057,018 |
Alexa M. Gagliardi | 6 | 34,502,684,120 | 4 | 15,427,835,650 | 0 | — |
David R. Giroux | 7 | 59,254,659,109 | 1 | 497,253,723 | 0 | — |
103
Registered Investment | Other Pooled Investment | Other Accounts | ||||
Portfolio Manager | Number | Total Assets | Number | Total Assets | Number | Total Assets |
Benjamin Griffiths (a) | — | — | — | — | — | — |
Charles B. Hill | 3 | 7,899,454,917 | 2 | 254,686,765 | 6 | 1,812,490,580 |
Ann M. Holcomb | 2 | 9,679,098,550 | 10 | 6,823,593,075 | 19 | 12,744,629,411 |
Thomas J. Huber | 2 | 9,581,925,061 | 0 | — | 4 | 201,950,851 |
Stefan Hubrich | 1 | 61,886,703 | 0 | — | 0 | — |
Arif Husain | 13 | 31,513,503,814 | 42 | 30,378,637,303 | 1 | 374,673,623 |
Andrew Jacobs van Merlen (b) | — | — | — | — | — | — |
Prashant G. Jeyaganesh | 2 | 134,586,477 | 0 | — | 0 | — |
Nina P. Jones | 2 | 4,305,162,267 | 1 | 42,386,775 | 0 | — |
Keir R. Joyce | 2 | 1,422,552,152 | 0 | — | 0 | — |
Vadya Kadiyam (c) | — | — | — | — | — | — |
Jai X. Kapadia | 2 | 3,404,994,539 | 2 | 1,928,823,119 | 0 | — |
Andrew J. Keirle | 2 | 494,526,402 | 1 | 98,873,704 | 1 | 56,668,790 |
Robert M. Larkins | 2 | 1,219,172,734 | 3 | 1,618,111,925 | 12 | 2,408,876,818 |
Wyatt A. Lee | 40 | 152,977,277,271 | 39 | 104,751,832,335 | 0 | — |
John D. Linehan | 17 | 42,544,835,742 | 18 | 15,184,387,319 | 27 | 6,397,384,852 |
Kevin P. Loome | 3 | 537,122,903 | 3 | 157,947,145 | 0 | — |
Anh Lu | 1 | 2,829,338,499 | 4 | 1,363,236,157 | 0 | — |
Joseph K. Lynagh | 15 | 44,572,550,053 | 3 | 5,968,966,545 | 3 | 2,743,016,239 |
Navneesh Malhan (c) | — | — | — | — | — | — |
Konstantine B. Mallas | 6 | 6,839,596,866 | 0 | — | 6 | 81,495,917 |
Sebastien Mallet | 3 | 10,703,649 | 4 | 133,710,324 | 0 | — |
Paul M. Massaro | 3 | 5,627,381,278 | 3 | 726,052,376 | 13 | 6,504,524,217 |
Hugh D. McGuirk | 3 | 3,926,382,338 | 0 | — | 8 | 743,941,494 |
Heather K. McPherson | 6 | 13,864,663,834 | 8 | 1,976,933,169 | 19 | 4,740,855,731 |
Colin McQueen | 0 | 11,114,433,451 | 0 | 5,661,976,729 | 0 | — |
Raymond A. Mills | 6 | 19,139,972,589 | 1 | 6,644,818,991 | 4 | 1,649,698,611 |
Eric C. Moffett | 1 | 129,373,751 | 2 | 74,009,153 | 0 | — |
Samy B. Muaddi | 2 | 264,718,576 | 6 | 1,120,050,987 | 0 | — |
James M. Murphy | 3 | 5,773,859,119 | 0 | — | 0 | — |
Sudhir Nanda | 5 | 11,153,688,703 | 5 | 473,897,655 | 1 | 144,767,443 |
Joshua Nelson | 4 | 9,779,730,303 | 10 | 13,689,629,172 | 20 | 12,751,830,941 |
Jason Nogueira | 1 | 26,037,948 | 0 | — | 0 | — |
Alexander S. Obaza (a) | — | — | — | — | — | — |
Kenneth A. Orchard | 4 | 7,050,549,094 | 2 | 378,355,833 | 1 | 238,645,231 |
Gonzalo Pangaro | 5 | 14,860,025,596 | 7 | 9,421,376,567 | 3 | 2,277,325,085 |
Donald J. Peters | 6 | 4,952,271,887 | 4 | 47,991,414 | 19 | 2,228,148,569 |
Jason B. Polun | 4 | 9,779,730,303 | 10 | 13,689,629,172 | 20 | 12,751,830,941 |
Larry J. Puglia | 9 | 65,700,226,119 | 20 | 13,108,344,936 | 17 | 5,016,031,358 |
Rodney M. Rayburn | 3 | 9,420,989,057 | 2 | 1,301,781,634 | 0 | — |
Michael F. Reinartz | 8 | 10,129,112,724 | 1 | 8,567,879,693 | 6 | 1,703,812,776 |
Jeffrey Rottinghaus | 3 | 4,188,629,626 | 8 | 3,596,218,863 | 1 | 2,526,287 |
Federico Santilli | 2 | 391,454,670 | 1 | 2,415,519 | 0 | — |
Michael K. Sewell (d) | — | — | — | — | — | — |
Charles M. Shriver | 24 | 40,022,055,307 | 19 | 5,673,993,349 | 20 | 1,790,681,528 |
104
Registered Investment | Other Pooled Investment | Other Accounts | ||||
Portfolio Manager | Number | Total Assets | Number | Total Assets | Number | Total Assets |
Farris G. Shuggi | 1 | 21,997,121 | 0 | — | 1 | 9,318,582 |
Neil Smith | 1 | 589,293,356 | 2 | 920,332,568 | 0 | — |
Gabriel Solomon | 1 | 810,022,849 | 0 | — | 0 | — |
Joshua K. Spencer | 2 | 27,942,484,762 | 1 | 3,818,563,420 | 8 | 2,655,203,929 |
Douglas D. Spratley (a) | — | — | — | — | — | — |
James Stillwagon | 2 | 7,152,835,054 | 0 | — | — | — |
Saurabh Sud | 1 | 25,188,636 | 0 | — | 0 | — |
Taymour R. Tamaddon | 7 | 25,008,305,109 | 24 | 11,995,502,476 | 42 | 11,187,017,599 |
Dean Tenerelli | 1 | 971,608,356 | 6 | 442,257,414 | 2 | 955,274,587 |
Toby Thompson | 26 | 19,989,574,640 | 20 | 6,186,068,976 | 25 | 546,758,986 |
Justin Thomson | 1 | 8,191,932,281 | 2 | 836,289,707 | 5 | 451,584,859 |
Alan Tu | 2 | 5,587,136,250 | 4 | 3,817,302,710 | 4 | 1,699,805,289 |
Mark J. Vaselkiv | 5 | 9,799,820,546 | 5 | 3,025,841,735 | 0 | — |
Verena E. Wachnitz | 1 | 582,672,738 | 1 | 8,849,579 | 0 | — |
Lauren T. Wagandt | 0 | 811,410,492 | 0 | — | 0 | — |
J. David Wagner | 5 | 11,391,176,313 | 1 | 2,712,346,413 | 2 | 221,790,598 |
David J. Wallack | 5 | 15,199,046,823 | 1 | 3,817,073,790 | 1 | 20,050,120 |
Thomas H. Watson | 5 | 6,331,859,618 | 6 | 9,094,599,988 | 23 | 10,903,440,915 |
Justin P. White | 2 | 4,577,853,894 | 0 | — | 0 | — |
Ernest C. Yeung | 1 | 141,458,900 | 1 | 104,736,838 | 0 | — |
Wenli Zheng (e) | — | — | — | — | — | — |
(a) The individual assumed co—portfolio management responsibilities of a mutual fund on March 1, 2020. The information on other managed accounts is not yet available.
(b) The individual assumed co—portfolio management responsibilities of a mutual fund on January 1, 2020. The information on other managed accounts is not yet available.
(c) The individual assumed co—portfolio management responsibilities of a mutual fund on April 1, 2020. The information on other managed accounts is not yet available.
The individual assumed co
(d) —portfolio management responsibilities of a mutual fund on February 1, 2020. The information on other managed accounts is not yet available.
(e) The individual assumed portfolio management responsibilities of a mutual fund on December 3, 2019. The information on other managed accounts is not yet available.
Conflicts of Interest
Portfolio managers at T. Rowe Price and its affiliates may manage multiple accounts. These accounts may include, among others, mutual funds, separate accounts (assets managed on behalf of institutions such as pension funds, colleges and universities, and foundations), offshore funds, and common trust funds. Portfolio managers make investment decisions for each portfolio based on the investment objectives, policies, practices, and other relevant investment considerations that the managers believe are applicable to that portfolio. Consequently, portfolio managers may purchase (or sell) securities for one portfolio and not another portfolio. T. Rowe Price and its affiliates have adopted brokerage and trade allocation policies and procedures that they believe are reasonably designed to address any potential conflicts associated with managing multiple accounts for multiple clients. Also, as disclosed under the “Portfolio Manager Compensation” section, the portfolio managers’ compensation is determined in the same manner with respect to all portfolios managed by the portfolio manager. Please see the “Portfolio Transactions” section of this SAI for more information about our brokerage and trade allocation policies.
The Price Funds may, from time to time, own shares of Morningstar, Inc. Morningstar is a provider of investment research to individual and institutional investors, and publishes ratings on mutual funds, including the Price Funds. T. Rowe Price manages the Morningstar retirement plan and acts as subadvisor to two mutual funds offered by Morningstar. In addition, T. Rowe Price and its affiliates pay Morningstar for a variety of products and services. In addition, Morningstar may provide investment consulting and investment management services to clients of T. Rowe Price or its affiliates.
105
Since the Price Funds and other accounts have different investment objectives or strategies, potential conflicts of interest may arise in executing investment decisions or trades among client accounts. For example, if T. Rowe Price purchases a security for one account and sells the same security short for another account, such a trading pattern could disadvantage either the account that is long or short. It is possible that short sale activity could adversely affect the market value of long positions in one or more Price Funds and other accounts (and vice versa) and create potential trading conflicts, such as when long and short positions are being executed at the same time. To mitigate these potential conflicts of interest, T. Rowe Price has implemented policies and procedures requiring trading and investment decisions to be made in accordance with T. Rowe Price’s fiduciary duties to all accounts, including the Price Funds. Pursuant to these policies, portfolio managers are generally prohibited from managing multiple strategies where they hold the same security long in one strategy and short in another, except in certain circumstances, including where an investment oversight committee has specifically reviewed and approved the holdings or strategy. Additionally, T. Rowe Price has implemented policies and procedures that it believes are reasonably designed to ensure the fair and equitable allocation of trades, both long and short, to minimize the impact of trading activity across client accounts. T. Rowe Price monitors short sales to determine whether its procedures are working as intended and that such short sale activity is not materially impacting our trade executions and long positions for other clients.
As of December 31, 2019, none of the independent directors or their immediate family members owned beneficially or of record any securities of T. Rowe Price (the Price Funds’ investment adviser), Investment Services (the Price Funds’ distributor), or any person controlling, controlled by, or under common control with T. Rowe Price or Investment Services.
As of March 31, 2020, the directors and executive officers of the funds, as a group, owned less than 1% of the outstanding shares of any fund, except as shown in the following table.
Fund | % |
Africa & Middle East Fund | 1.5 |
Asia Opportunities Fund | 3.1 |
China Evolution Equity Fund | 21.9 |
Emerging Markets Discovery Stock Fund | 2.9 |
Global Consumer Fund | 3.9 |
Global Industrials Fund | 5.9 |
Global Value Equity Fund | 4.9 |
Intermediate Tax-Free High Yield Fund | 4.1 |
Maryland Short-Term Tax-Free Bond Fund | 5.0 |
QM U.S. Value Equity | 3.5 |
Tax-Efficient Equity Fund | 3.2 |
Total Return Fund | 2.0 |
U.S. High Yield Fund | 1.4 |
As of March 31, 2020, the following shareholders of record owned more than 5% of the outstanding shares of the indicated funds and/or classes.
106
FUND |
| SHAREHOLDER |
| % |
AFRICA & MIDDLE EAST FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 21.12 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| 499 WASHINGTON BLVD FL 5 |
|
|
|
| JERSEY CITY NJ 07310-2010 |
|
|
|
|
|
|
|
|
| SPECTRUM INTERNATIONAL FUND |
| 7.25 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
AFRICA & MIDDLE EAST FUND—I CLASS |
| CHARLES A MORRIS |
| 35.31(a) |
|
| ELISE D MORRIS JT TEN T O D |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 61.38(b) |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
| P O BOX 89000 |
|
|
|
| BALTIMORE MD 21289-0001 |
|
|
ASIA OPPORTUNITIES FUND |
| CHARLES SCHWAB & CO INC |
| 5.62 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
| 211 MAIN STREET |
|
|
|
| SAN FRANCISCO CA 94105-1905 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 15.14 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
ASIA OPPORTUNITIES FUND—ADVISOR CLASS |
| CHARLES SCHWAB & CO INC |
| 5.69 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 6.85 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 79.63(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
107
FUND |
| SHAREHOLDER |
| % |
ASIA OPPORTUNITIES FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 13.15 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| CRODA INC DEF BENEFIT PL MASTER TR |
| 8.31 |
|
| C/O STATE STREET BANK AND TRUST CO |
|
|
|
| 801 PENNSYLVANIA AVE |
|
|
|
| TOWER 1 -5TH FL ATTN STEVE CHILES |
|
|
|
| KANSAS CITY MO 64105-1307 |
|
|
|
|
|
|
|
|
| ERIC C MOFFETT |
| 7.53 |
|
| MIRI C MOFFETT JT TEN |
|
|
|
|
|
|
|
|
| J.P. MORGAN SECURITIES LLC |
| 6.54 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| 4 CHASE METROTECH CTR |
|
|
|
| BROOKLYN NY 11245-0003 |
|
|
|
|
|
|
|
|
| NORTHERN TR CUST FBO LWOOD INTL EQU |
| 45.85(a) |
|
| PO BOX 92956 |
|
|
|
| CHICAGO IL 60675-2956 |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 5.47 |
|
| OUR CUSTOMERS |
|
|
|
| PO BOX 2226 |
|
|
|
| OMAHA NE 68103-2226 |
|
|
|
|
|
|
|
|
| WELLS FARGO CLEARING SERVICES LLC |
| 5.01 |
|
| SPECIAL CUSTODY ACCT FOR THE |
|
|
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
|
| 2801 MARKET ST |
|
|
|
| SAINT LOUIS MO 63103-2523 |
|
|
BALANCED FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 6.33 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO INC |
| 23.11 |
|
| ATTN: TRPS INST CONTROL DEPT |
|
|
108
FUND |
| SHAREHOLDER |
| % |
BALANCED FUND—I CLASS |
| PERSHING LLC |
| 16.27 |
|
| 1 PERSHING PLZ |
|
|
|
| JERSEY CITY NJ 07399-0002 |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 5.03 |
|
| OMNIBUS ACCOUNT |
|
|
|
| TRP BALANCED - I |
|
|
|
| P O BOX 17215 |
|
|
|
| BALTIMORE MD 21297-1215 |
|
|
|
|
|
|
|
|
| THE NORTHERN TRUST CO AS TRUSTEE |
| 8.84 |
|
| FBO KOHLS-DV |
|
|
|
| PO BOX 92994 |
|
|
|
| CHICAGO IL 60675-2994 |
|
|
|
|
|
|
|
|
| UBATCO & CO |
| 9.29 |
|
| FBO COLLEGE SAVINGS GROUP |
|
|
|
| PO BOX 82535 |
|
|
|
| LINCOLN NE 68501-2535 |
|
|
|
|
|
|
|
|
| UBATCO & CO FBO ACES TRUST FUND |
| 7.75 |
|
| 6811 S 27TH ST |
|
|
|
| LINCOLN NE 68512-4823 |
|
|
|
|
|
|
|
|
| VOYA INSTITUTIONAL TRUST CO |
| 11.53 |
|
| AS TRUSTEE/ CUSTODIAN FOR |
|
|
|
| CORE MARKET RETIREMENT PLANS |
|
|
|
| 30 BRAINTREE HILL OFFICE PARK |
|
|
|
| BRAINTREE MA 02184-8747 |
|
|
BLUE CHIP GROWTH FUND |
| CHARLES SCHWAB & CO INC |
| 7.84 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 14.26 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| WELLS FARGO CLEARING SERVICES LLC |
| 8.77 |
|
| SPECIAL CUSTODY ACCT FOR THE |
|
|
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
109
FUND |
| SHAREHOLDER |
| % |
BLUE CHIP GROWTH FUND—ADVISOR CLASS |
| AMERITAS LIFE INSURANCE CORP |
| 6.56 |
|
| SEPARATE ACCOUNT D |
|
|
|
| 5900 O STREET |
|
|
|
| LINCOLN NE 68510-2234 |
|
|
|
|
|
|
|
|
| GREAT-WEST TRUST COMPANY LLC FBO |
| 6.34 |
|
| EMPLOYEE BENEFITS CLIENTS 401K |
|
|
|
| 8515 E ORCHARD RD 2T2 |
|
|
|
| GREENWOOD VLG CO 80111-5002 |
|
|
|
|
|
|
|
|
| MAC & CO |
| 11.06 |
|
| ATTN: MUTUAL FUND OPERATIONS |
|
|
|
| 500 GRANT STREET |
|
|
|
| ROOM 151-1010 |
|
|
|
| PITTSBURGH PA 15219-2502 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 18.01 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
BLUE CHIP GROWTH FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 9.09 |
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| EDWARD D JONES & CO |
| 10.91 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
| 12555 MANCHESTER RD |
|
|
|
| SAINT LOUIS MO 63131-3729 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 23.21 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
110
FUND |
| SHAREHOLDER |
| % |
BLUE CHIP GROWTH FUND—R CLASS |
| DCGT AS TTEE AND/OR CUST |
| 7.68 |
|
| ATTN NPIO TRADE DESK |
|
|
|
| FBO PLIC VARIOUS RETIREMENT PLANS |
|
|
|
| OMNIBUS |
|
|
|
| 711 HIGH ST |
|
|
|
| DES MOINES IA 50392-0001 |
|
|
|
|
|
|
|
|
| NATIONWIDE LIFE INSURANCE COMPANY |
| 5.16 |
|
| C/O IPO PORTFOLIO ACCOUNTING |
|
|
|
| PO BOX 182029 |
|
|
|
| COLUMBUS OH 43218-2029 |
|
|
|
|
|
|
|
|
| NATIONWIDE LIFE INSURANCE COMPANY |
| 6.48 |
|
| C/O IPO PORTFOLIO ACCOUNTING |
|
|
|
|
|
|
|
|
| SAMMONS FINANCIAL NETWORK LLC |
| 16.52 |
|
| 4546 CORPORATE DR STE 100 |
|
|
|
| WEST DES MOINES IA 50266-5911 |
|
|
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 15.81 |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
| 1 LINCOLN ST |
|
|
|
| BOSTON MA 02111-2901 |
|
|
CALIFORNIA TAX-FREE BOND FUND |
| CHARLES SCHWAB & CO INC |
| 7.80 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 6.34 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 23.96 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
CALIFORNIA TAX-FREE BOND FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 13.91 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| DON B NORRIS |
| 5.08 |
|
| KAREN R NORRIS JT TEN |
|
|
|
|
|
|
|
|
| S KENNETH LEECH |
| 8.39 |
|
| EILEEN STUECK LEECH JT TEN |
|
|
111
FUND |
| SHAREHOLDER |
| % |
CALIFORNIA TAX-FREE MONEY FUND—I CLASS |
| CRAIG H BARRATT |
| 38.60(a) |
|
| CELIA M OAKLEY TRS |
|
|
|
| BARRATT-OAKLEY TRUST |
|
|
|
|
|
|
|
|
| MARK A WALSH T O D |
| 43.17(a) |
|
|
|
|
|
|
| RICHARD N MENDOZA |
| 10.31 |
|
| VALERIE MENDOZA TRS |
|
|
|
| MENDOZA FAMILY TRUST |
|
|
|
|
|
|
|
|
| VICKY LEE T O D |
| 6.44 |
CAPITAL APPRECIATION FUND |
| CHARLES SCHWAB & CO INC |
| 9.08 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| LPL FINANCIAL |
| 8.19 |
|
| OMNIBUS CUSTOMER ACCOUNT |
|
|
|
| ATTN: MUTUAL FUND TRADING |
|
|
|
| 4707 EXECUTIVE DR |
|
|
|
| SAN DIEGO CA 92121-3091 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 12.01 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.92 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 5.65 |
|
| OUR CUSTOMERS |
|
|
CAPITAL APPRECIATION FUND—ADVISOR CLASS |
| AMERITAS LIFE INSURANCE CORP |
| 5.32 |
|
| SEPARATE ACCOUNT G |
|
|
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 15.08 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 16.58 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| UMB BANK N/A |
| 22.63 |
|
| FBO FIDUCIARY FOR TAX DEFERRED |
|
|
|
| ACCOUNTS |
|
|
|
| 1 SW SECURITY BENEFIT PL |
|
|
|
| TOPEKA KS 66636-0001 |
|
|
112
FUND |
| SHAREHOLDER |
| % |
CAPITAL APPRECIATION FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 23.98 |
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 27.96(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.29 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 11.36 |
|
| OUR CUSTOMERS |
|
|
CHINA EVOLUTION EQUITY FUND |
| DAVID EISWERT |
| 5.29 |
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 66.67(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
CHINA EVOLUTION EQUITY FUND—I CLASS |
| RICHARD N. DE LOS REYES T O D |
| 78.08(a) |
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 21.92 |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
COMMUNICATIONS & TECHNOLOGY FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 7.86 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 6.12 |
COMMUNICATIONS & TECHNOLOGY FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 10.01 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 8.81 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 17.54 |
|
| OMNIBUS ACCOUNT |
|
|
|
| TRP MEDIA & TELECOMMUNICATION - I |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 15.42 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
CORPORATE INCOME FUND |
| SPECTRUM INCOME FUND |
| 39.01(d) |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
113
FUND |
| SHAREHOLDER |
| % |
CORPORATE INCOME FUND—I CLASS |
| JAMES L LAMMIE TR |
| 5.35 |
|
| SHIRLEY D LAMMIE REVOCABLE TRUST |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 34.37(a) |
|
| OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 23.98 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| WELLS FARGO BANK NA FBO |
| 11.38 |
|
| OMNIBUS CASH CASH |
|
|
CREDIT OPPORTUNITIES FUND |
| T ROWE PRICE ASSOCIATES |
| 25.20(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
CREDIT OPPORTUNITIES FUND—ADVISOR CLASS |
| T ROWE PRICE ASSOCIATES |
| 92.24(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
CREDIT OPPORTUNITIES FUND—I CLASS |
| T ROWE PRICE ASSOCIATES |
| 85.39(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO |
| 6.90 |
|
| CUST FOR THE ROLLOVER IRA OF |
|
|
|
| GARY C DUDLEY |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 7.40 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
DIVERSIFIED MID-CAP GROWTH FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 8.83 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 6.00 |
114
FUND |
| SHAREHOLDER |
| % |
DIVERSIFIED MID-CAP GROWTH FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 17.16 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PIMS/PRUDENTIAL RETIREMENT |
| 10.88 |
|
| AS NOMINEE FOR THE TTEE/CUST PL 010 |
|
|
|
| STATE OF CONNECTICUT ALTERNATE |
|
|
|
| 165 CAPITOL AVENUE |
|
|
|
| HARTFORD CT 06106-1659 |
|
|
|
|
|
|
|
|
| PIMS/PRUDENTIAL RETIREMENT |
| 32.28(a) |
|
| AS NOMINEE FOR THE TTEE/CUST PL 010 |
|
|
|
| STATE OF CONNECTICUT DEFERRED |
|
|
|
|
|
|
|
|
| PIMS/PRUDENTIAL RETIREMENT |
| 8.25 |
|
| AS NOMINEE FOR THE TTEE/CUST PL 010 |
|
|
|
| STATE OF CONNECTICUT SECTION |
|
|
|
|
|
|
|
|
| VOYA INSTITUTIONAL TRUST CO |
| 9.56 |
|
| FBO ARVEST |
|
|
|
| 30 BRAINTREE HILL OFFICE PARK |
|
|
|
| BRAINTREE MA 02184-8747 |
|
|
115
FUND |
| SHAREHOLDER |
| % |
DIVIDEND GROWTH FUND |
| CHARLES SCHWAB & CO INC |
| 8.62 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| LPL FINANCIAL |
| 8.59 |
|
| OMNIBUS CUSTOMER ACCOUNT |
|
|
|
| ATTN: MUTUAL FUND TRADING |
|
|
|
|
|
|
|
|
| MLPF&S FOR THE SOLE BENEFIT OF |
| 7.28 |
|
| ITS CUSTOMERS |
|
|
|
| 4800 DEERLAKE DR E 3RD FL |
|
|
|
| JACKSONVILLE FL 32246-6484 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 16.67 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.55 |
DIVIDEND GROWTH FUND—ADVISOR CLASS |
| GREAT-WEST TRUST COMPANY LLC FBO |
| 7.81 |
|
| EMPLOYEE BENEFITS CLIENTS 401K |
|
|
|
|
|
|
|
|
| MATRIX TRUST COMPANY AS TTEE FBO |
| 7.52 |
|
| VISTA 401(K) RETIREMENT PLAN |
|
|
|
| PO BOX 52129 |
|
|
|
| PHOENIX AZ 85072-2129 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 47.86(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
DIVIDEND GROWTH FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 7.04 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| EDWARD D JONES & CO |
| 34.27(a) |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 28.15(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| SEI PRIVATE TRUST COMPANY |
| 5.18 |
|
| C/O BMO HARRIS SWP |
|
|
|
| 1 FREEDOM VALLEY DR |
|
|
|
| OAKS PA 19456-9989 |
|
|
DYNAMIC CREDIT FUND |
| T ROWE PRICE ASSOCIATES |
| 90.31(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
116
FUND |
| SHAREHOLDER |
| % |
DYNAMIC CREDIT FUND—I CLASS |
| RUDDERFLAG & CO |
| 93.81(a) |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN MULTI-STRAGEGY TOTAL |
|
|
|
| RETURN FUND |
|
|
DYNAMIC GLOBAL BOND FUND |
| RETIREMENT PORTFOLIO 2040 |
| 6.53 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2015 |
| 6.77 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 19.20 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 15.82 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 16.16 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 8.29 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| SPECTRUM INCOME FUND |
| 8.79 |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
DYNAMIC GLOBAL BOND FUND—ADVISOR CLASS |
| PERSHING LLC |
| 15.20 |
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 84.78(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
117
FUND |
| SHAREHOLDER |
| % |
DYNAMIC GLOBAL BOND FUND—I CLASS |
| LADYBIRD & CO |
| 14.62 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN DYNAMIC GLOBAL BOND |
|
|
|
| I CLASS |
|
|
|
|
|
|
|
|
| LADYBUG & CO |
| 7.34 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN DYNAMIC GLOBAL BOND |
|
|
|
| I CLASS |
|
|
|
|
|
|
|
|
| RETIREMENT I 2020 FUND |
| 11.86 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 11.47 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 11.19 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 6.13 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
EMERGING EUROPE FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 5.81 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SPECTRUM INTERNATIONAL FUND |
| 7.13 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
EMERGING EUROPE FUND—I CLASS |
| PERSHING LLC |
| 7.49 |
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 91.93(b) |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
118
FUND |
| SHAREHOLDER |
| % |
EMERGING MARKETS BOND FUND |
| RETIREMENT PORTFOLIO 2015 |
| 5.76 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 13.66 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 10.50 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 9.96 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| SPECTRUM INCOME FUND |
| 13.27 |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
EMERGING MARKETS BOND FUND—ADVISOR CLASS |
| MATRIX TRUST COMPANY CUST FBO |
| 7.41 |
|
| MODERN FOUNDATIONS, INC 401(K) PSP |
|
|
|
| 717 17TH ST STE 1300 |
|
|
|
| DENVER CO 80202-3304 |
|
|
|
|
|
|
|
|
| MID ATLANTIC TRUST COMPANY FBO |
| 10.32 |
|
| CFD LEASING, INC 401(K) PLAN |
|
|
|
| 1251 WATERFRONT PL STE 525 |
|
|
|
| PITTSBURGH PA 15222-4228 |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 81.19(a) |
119
FUND |
| SHAREHOLDER |
| % |
EMERGING MARKETS BOND FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 5.44 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| EDWARD D JONES & CO |
| 11.19 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| RETIREMENT I 2020 FUND |
| 14.11 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 12.79 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 11.95 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 6.18 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
EMERGING MARKETS CORPORATE BOND FUND |
| CHARLES SCHWAB & CO INC |
| 14.54 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| LPL FINANCIAL |
| 10.10 |
|
| OMNIBUS CUSTOMER ACCOUNT |
|
|
|
| ATTN: MUTUAL FUND TRADING |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 9.65 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 6.90 |
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 16.77 |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
EMERGING MARKETS CORPORATE BOND FUND— |
| CHARLES SCHWAB & CO INC |
| 30.74(a) |
ADVISOR CLASS |
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| MLPF&S FOR THE SOLE BENEFIT OF |
| 8.94 |
|
| ITS CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 46.69(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
120
FUND |
| SHAREHOLDER |
| % |
EMERGING MARKETS CORPORATE BOND FUND— |
| CHARLES SCHWAB & CO INC |
| 95.03(a) |
I CLASS |
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
EMERGING MARKETS CORPORATE MULTI-SECTOR |
| GENERAL DYNAMICS CORP 401K |
| 65.24(a) |
ACCOUNT PORTFOLIO |
| PLAN MASTER TRUST CP |
|
|
|
| 2941 FAIRVIEW PARK DR STE 100 |
|
|
|
| FALLS CHURCH VA 22042-4541 |
|
|
|
|
|
|
|
|
| ILLINOIS STUDENT ASSISTANCE |
| 10.05 |
|
| COMMISSION |
|
|
|
| ATTN: ROGER ROJAS |
|
|
|
| 1755 LAKE COOK RD |
|
|
|
| DEERFIELD IL 60015-5209 |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 13.32 |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| XCEL ENERGY INC. |
| 7.53 |
|
| ATTN: GREG ZICK |
|
|
|
| 414 NICOLLET MALL |
|
|
|
| MINNEAPOLIS MN 55401-1993 |
|
|
EMERGING MARKETS DISCOVERY STOCK FUND |
| CHARLES SCHWAB & CO INC |
| 5.81 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| SPECTRUM INTERNATIONAL FUND |
| 40.22(d) |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 6.02 |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 6.64 |
|
| OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| VANGUARD BROKERAGE SERVICES |
| 5.91 |
|
| PO BOX 1170 |
|
|
|
| VALLEY FORGE PA 19482-1170 |
|
|
EMERGING MARKETS DISCOVERY STOCK FUND— |
| CHARLES SCHWAB & CO INC |
| 13.40 |
ADVISOR CLASS |
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 83.31(a) |
121
FUND |
| SHAREHOLDER |
| % |
EMERGING MARKETS DISCOVERY STOCK FUND— |
| CHARLES SCHWAB & CO INC |
| 8.35 |
I CLASS |
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| ERNEST YEUNG |
| 6.82 |
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 44.77(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 16.13 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 7.72 |
|
| OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 9.82 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
EMERGING MARKETS LOCAL CURRENCY BOND FUND |
| HORIZONDECK & CO |
| 5.52 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN GLOBAL ALLOCATION FUND |
|
|
|
|
|
|
|
|
| SPECTRUM INCOME FUND |
| 87.18(d) |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
EMERGING MARKETS LOCAL CURRENCY BOND FUND— |
| CHARLES SCHWAB & CO INC |
| 86.45(a) |
ADVISOR CLASS |
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 7.44 |
EMERGING MARKETS LOCAL CURRENCY BOND FUND— |
| CHARLES SCHWAB & CO INC |
| 58.37(a) |
I CLASS |
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 25.26(a) |
EMERGING MARKETS LOCAL MULTI-SECTOR ACCOUNT |
| BALTIMORE EQUITABLE SOCIETY |
| 17.26 |
PORTFOLIO |
| ATTN MARY HARLEE |
|
|
|
| 100 N CHARLES ST STE 640 |
|
|
|
| BALTIMORE MD 21201-3808 |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 82.74(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
122
FUND |
| SHAREHOLDER |
| % |
EMERGING MARKETS STOCK FUND |
| MLPF&S FOR THE SOLE BENEFIT OF |
| 17.05 |
|
| ITS CUSTOMERS |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2040 |
| 7.92 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 5.80 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 6.67 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 9.54 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 6.46 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
EMERGING MARKETS STOCK FUND—I CLASS |
| MLPF&S FOR THE SOLE BENEFIT OF |
| 5.05 |
|
| ITS CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 29.78(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 5.02 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 6.99 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 5.36 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 6.42 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
123
FUND |
| SHAREHOLDER |
| % |
EQUITY INCOME FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 7.57 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SPECTRUM INCOME FUND |
| 7.99 |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO INC |
| 6.07 |
|
| ATTN: TRPS INST CONTROL DEPT |
|
|
EQUITY INCOME FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 58.17(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.14 |
EQUITY INCOME FUND—I CLASS |
| EDWARD D JONES & CO |
| 51.50(a) |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 16.58 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 6.72 |
|
| OUR CUSTOMERS |
|
|
EQUITY INCOME FUND—R CLASS |
| AMERICAN UNITED LIFE |
| 9.92 |
|
| AMERICAN UNIT TRUST |
|
|
|
| ATTN SEPARATE ACCOUNTS |
|
|
|
|
|
|
|
|
| AMERICAN UNITED LIFE |
| 19.27 |
|
| SEPARATE ACCOUNT II |
|
|
|
| ATTN SEPARATE ACCOUNTS |
|
|
|
| PO BOX 368 |
|
|
|
| INDIANAPOLIS IN 46206-0368 |
|
|
|
|
|
|
|
|
| DCGT AS TTEE AND/OR CUST |
| 5.12 |
|
| ATTN NPIO TRADE DESK |
|
|
|
| FBO PLIC VARIOUS RETIREMENT PLANS |
|
|
|
| OMNIBUS |
|
|
|
|
|
|
|
|
| HARTFORD LIFE INSURANCE CO |
| 12.31 |
|
| SEPARATE ACCOUNT |
|
|
|
| ATTN UIT OPERATIONS |
|
|
|
| PO BOX 2999 |
|
|
|
| HARTFORD CT 06104-2999 |
|
|
|
|
|
|
|
|
| NATIONWIDE TRUST CO FSB |
| 7.76 |
|
| C/O IPO PORTFOLIO ACCOUNTING |
|
|
124
FUND |
| SHAREHOLDER |
| % |
EQUITY INDEX 500 FUND |
| RETIREMENT PORTFOLIO 2015 |
| 5.38 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 11.67 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 9.70 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 10.19 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 5.13 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
EQUITY INDEX 500 FUND—I CLASS |
| RETIREMENT I 2020 FUND |
| 15.86 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 15.93 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 16.32 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 9.20 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 8.06 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
EUROPEAN STOCK FUND |
| CHARLES SCHWAB & CO INC |
| 6.36 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| SPECTRUM INTERNATIONAL FUND |
| 27.03(d) |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
125
FUND |
| SHAREHOLDER |
| % |
EUROPEAN STOCK FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 16.73 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 20.68 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| S KENNETH LEECH |
| 23.37 |
|
| EILEEN STUECK LEECH JT TEN |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 18.95 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
EXTENDED EQUITY MARKET INDEX FUND |
| TD AMERITRADE INC FBO |
| 5.57 |
|
| OUR CUSTOMERS |
|
|
FINANCIAL SERVICES FUND |
| CHARLES SCHWAB & CO INC |
| 5.22 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 5.74 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 8.82 |
|
|
|
|
|
|
| T ROWE PRICE SERVICES INC FBO |
| 7.73 |
|
| EDUCATION TRUST OF ALASKA |
|
|
|
| PORTFOLIO FUTURE TRENDS |
|
|
|
| ATTN DAWN WAGNER FIXED INCOME |
|
|
FINANCIAL SERVICES FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 8.48 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 40.59(b) |
|
| OMNIBUS ACCOUNT |
|
|
|
| TRP FINANCIAL SERVICES -I |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 32.76(b) |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
126
FUND |
| SHAREHOLDER |
| % |
FLOATING RATE FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 5.92 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 10.32 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 8.26 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 8.29 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| SPECTRUM INCOME FUND |
| 21.48 |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
FLOATING RATE FUND—ADVISOR CLASS |
| CHARLES SCHWAB & CO INC |
| 5.09 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 50.33(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 21.13 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 13.69 |
|
| OUR CUSTOMERS |
|
|
127
FUND |
| SHAREHOLDER |
| % |
FLOATING RATE FUND—I CLASS |
| RETIREMENT I 2015 FUND |
| 5.04 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2020 FUND |
| 14.86 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 13.99 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 13.62 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 7.70 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 5.40 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
FLOATING RATE MULTI-SECTOR ACCOUNT PORTFOLIO |
| BALTIMORE EQUITABLE SOCIETY |
| 10.64 |
|
| ATTN MARY HARLEE |
|
|
|
|
|
|
|
|
| GENERAL DYNAMICS CORP 401K |
| 30.24(a) |
|
| PLAN MASTER TRUST CP |
|
|
|
|
|
|
|
|
| ILLINOIS STUDENT ASSISTANCE |
| 5.26 |
|
| COMMISSION |
|
|
|
| ATTN: ROGER ROJAS |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 31.09(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| XCEL ENERGY INC. |
| 22.76 |
|
| ATTN: GREG ZICK |
|
|
GEORGIA TAX-FREE BOND FUND |
| CHARLES SCHWAB & CO INC |
| 15.42 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 20.55 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
128
FUND |
| SHAREHOLDER |
| % |
GEORGIA TAX-FREE BOND FUND—I CLASS |
| SEI PRIVATE TRUST COMPANY |
| 5.47 |
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| SEI PRIVATE TRUST COMPANY |
| 62.62(a) |
|
| ATTN MUTUAL FUNDS |
|
|
GLOBAL ALLOCATION FUND |
| MORGAN STANLEY SMITH BARNEY LLC |
| 6.53 |
|
| FOR THE EXCL BENEFIT OF ITS CUST |
|
|
|
| 1 NEW YORK PLZ FL 12 |
|
|
|
| NEW YORK NY 10004-1965 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 10.60 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 10.43 |
|
|
|
|
|
|
| RAYMOND JAMES |
| 6.23 |
|
| OMNIBUS FOR MUTUAL FUNDS |
|
|
|
| HOUSE ACCT FIRM |
|
|
|
| ATTN COURTNEY WALLER |
|
|
|
| 880 CARILLON PKWY |
|
|
|
| ST PETERSBURG FL 33716-1100 |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 29.98(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
GLOBAL ALLOCATION FUND—ADVISOR CLASS |
| CHARLES SCHWAB & CO INC |
| 5.98 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 56.57(a) |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 17.48 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 7.20 |
|
| OUR CUSTOMERS |
|
|
129
FUND |
| SHAREHOLDER |
| % |
GLOBAL ALLOCATION FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 32.23(a) |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 12.70 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 9.63 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 9.09 |
|
| OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 9.11 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
GLOBAL CONSUMER FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 36.38(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 28.51(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
GLOBAL GROWTH STOCK FUND |
| CHARLES SCHWAB & CO INC |
| 5.29 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 7.97 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
130
FUND |
| SHAREHOLDER |
| % |
GLOBAL GROWTH STOCK FUND—ADVISOR CLASS |
| CHARLES SCHWAB & CO INC |
| 12.05 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| DIAMOND PAPER COMPANY INC TTEE FBO |
| 13.98 |
|
| C/O FASCORE LLC |
|
|
|
| DIAMOND PAPER COMPANY INC 401K |
|
|
|
|
|
|
|
|
| GREAT-WEST TRUST COMPANY LLC TTEE F |
| 12.17 |
|
| EMPLOYEE BENEFITS CLIENTS 401K |
|
|
|
|
|
|
|
|
| J BARTEE L MEYER & J WEMHOFF TTEE F |
| 6.25 |
|
| C/O FASCORE LLC |
|
|
|
| ENTERPRISE BANK 401K RETIRMENT PLAN |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 10.11 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 32.29(a) |
|
|
|
|
|
|
| RAYMOND JAMES |
| 7.11 |
|
| OMNIBUS FOR MUTUAL FUNDS |
|
|
|
| HOUSE ACCT FIRM |
|
|
|
| ATTN COURTNEY WALLER |
|
|
131
FUND |
| SHAREHOLDER |
| % |
GLOBAL GROWTH STOCK FUND—I CLASS |
| CTC FBO |
| 15.96 |
|
| TEXAS TUITION PROMISE FUND 529 |
|
|
|
| 17605 WRIGHT STREET SUITE #3 |
|
|
|
| OMAHA NE 68130-2033 |
|
|
|
|
|
|
|
|
| MAC & CO |
| 8.93 |
|
| ATTN: MUTUAL FUND OPERATIONS |
|
|
|
|
|
|
|
|
| MAC & CO |
| 9.88 |
|
| ATTN: MUTUAL FUND OPERATIONS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 31.69(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SAXON & CO |
| 5.01 |
|
| PO BOX 94597 |
|
|
|
| CLEVELAND OH 44101-4597 |
|
|
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 5.52 |
|
| TTEE FOR THE MASTER TRUST FOR |
|
|
|
| DEFINED BENEFIT PLANS |
|
|
|
| OF SYNGENTA CORPORATION |
|
|
|
| 801 PENNSYLVANIA AVE |
|
|
|
| KANSAS CITY MO 64105-1307 |
|
|
|
|
|
|
|
|
| WASHINGTON SUBURBAN SANITARY |
| 5.34 |
|
| COMMISSION RETIREE OTHER POST |
|
|
|
| EMPLOYMENT BENEFIT TRUST |
|
|
|
| 14501 SWEITZER LN |
|
|
|
| LAUREL MD 20707-5901 |
|
|
GLOBAL HIGH INCOME BOND FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 16.33 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 5.54 |
|
| OUR CUSTOMERS |
|
|
132
FUND |
| SHAREHOLDER |
| % |
GLOBAL HIGH INCOME BOND FUND—ADVISOR CLASS |
| CHARLES SCHWAB & CO INC |
| 32.37(a) |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 25.03(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 16.17 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 26.41(a) |
|
| OUR CUSTOMERS |
|
|
GLOBAL HIGH INCOME BOND FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 29.65(a) |
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| MAC & CO |
| 17.59 |
|
| ATTN: MUTUAL FUND OPERATIONS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 16.14 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| SEI PRIVATE TRUST COMPANY |
| 19.60 |
|
| C/O MELLON BANK |
|
|
|
| ATTN MUTUAL FUNDS ADMIN |
|
|
GLOBAL INDUSTRIALS FUND |
| T ROWE PRICE ASSOCIATES |
| 40.90(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
GLOBAL INDUSTRIALS FUND—I CLASS |
| T ROWE PRICE ASSOCIATES |
| 16.26 |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 83.74(b) |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
133
FUND |
| SHAREHOLDER |
| % |
GLOBAL MULTI-SECTOR BOND FUND |
| CHARLES SCHWAB & CO INC |
| 11.27 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| MORGAN STANLEY SMITH BARNEY LLC |
| 8.80 |
|
| FOR THE EXCL BENEFIT OF ITS CUST |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 12.43 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.64 |
|
|
|
|
|
|
| RAYMOND JAMES |
| 5.20 |
|
| OMNIBUS FOR MUTUAL FUNDS |
|
|
|
| HOUSE ACCT FIRM |
|
|
|
| ATTN COURTNEY WALLER |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 5.77 |
|
| OUR CUSTOMERS |
|
|
GLOBAL MULTI-SECTOR BOND FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 55.49(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 10.73 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 7.87 |
|
| OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| WELLS FARGO CLEARING SERVICES LLC |
| 5.52 |
|
| SPECIAL CUSTODY ACCT FOR THE |
|
|
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
GLOBAL MULTI-SECTOR BOND FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 41.08(a) |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 20.17 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 8.70 |
|
| OUR CUSTOMERS |
|
|
134
FUND |
| SHAREHOLDER |
| % |
GLOBAL REAL ESTATE FUND |
| CHARLES SCHWAB & CO INC |
| 5.08 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 5.93 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 10.59 |
|
| OUR CUSTOMERS |
|
|
GLOBAL REAL ESTATE FUND—ADVISOR CLASS |
| CHARLES SCHWAB & CO INC |
| 11.17 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| GREAT-WEST LIFE & ANNUITY |
| 11.15 |
|
| FBO FUTURE FUNDS II |
|
|
|
|
|
|
|
|
| GREAT-WEST TRUST COMPANY LLC FBO |
| 27.39(a) |
|
| EMPLOYEE BENEFITS CLIENTS 401K |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 26.13(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
GLOBAL REAL ESTATE FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 11.29 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| JOHN B CARTER |
| 9.41 |
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 41.26(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 10.33 |
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 21.92 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
135
FUND |
| SHAREHOLDER |
| % |
GLOBAL STOCK FUND |
| CHARLES SCHWAB & CO INC |
| 5.24 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| MORGAN STANLEY SMITH BARNEY LLC |
| 6.99 |
|
| FOR THE EXCL BENEFIT OF ITS CUST |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 18.61 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 12.07 |
GLOBAL STOCK FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 6.46 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| UMB BANK N/A |
| 75.66(a) |
|
| FBO FIDUCIARY FOR VARIOUS |
|
|
|
| RETIREMENT PROGRAMS |
|
|
GLOBAL STOCK FUND—I CLASS |
| AFFILIATED FM INSURANCE CO. |
| 7.29 |
|
| 270 CENTRAL AVE |
|
|
|
| JOHNSTON RI 02919-4923 |
|
|
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 7.54 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| EDWARD D JONES & CO |
| 9.24 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| FACTORY MUTUAL INSURANCE CO. |
| 14.58 |
|
| 270 CENTRAL AVE |
|
|
|
| JOHNSTON RI 02919-4923 |
|
|
|
|
|
|
|
|
| FACTORY MUTUAL INSURANCE CO. |
| 7.01 |
|
| PENSION PLAN TRUST |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 28.45(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 6.50 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
136
FUND |
| SHAREHOLDER |
| % |
GLOBAL TECHNOLOGY FUND |
| CHARLES SCHWAB & CO INC |
| 5.55 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 5.21 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 8.94 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.49 |
GLOBAL TECHNOLOGY FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 16.72 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 28.86(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 9.30 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| WELLS FARGO BANK FBO |
| 5.18 |
|
| VARIOUS RETIREMENT PLANS |
|
|
|
| 1525 WEST WT HARRIS BLVD |
|
|
|
| CHARLOTTE NC 28288-1076 |
|
|
GLOBAL VALUE EQUITY FUND |
| DAVID M SCLAR |
| 5.34 |
|
| SALLY F SCLAR JT TEN |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 54.46(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO |
| 6.67 |
|
| CUST FOR THE IRA OF |
|
|
|
| DAVID M SCLAR |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO |
| 7.28 |
|
| CUST FOR THE ROLLOVER IRA OF |
|
|
|
| VINCENT L BAILEY |
|
|
137
FUND |
| SHAREHOLDER |
| % |
GLOBAL VALUE EQUITY FUND—I CLASS |
| T ROWE PRICE ASSOCIATES |
| 84.32(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 15.68 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
GNMA FUND |
| SPECTRUM INCOME FUND |
| 45.07(d) |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
GNMA FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 13.23 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| FAYE L ZABARSKY TR |
| 20.31 |
|
| FAYE L ZABARSKY 2017 REV TRUST |
|
|
|
|
|
|
|
|
| HOWARD M BOEHM |
| 18.36 |
|
| ESTHER BOEHM JT TEN |
|
|
|
|
|
|
|
|
| RICHARD ILLGEN |
| 8.84 |
|
| IRENE ROSENFELD ILLGEN JT TEN |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO |
| 5.86 |
|
| CUST FOR THE IRA OF |
|
|
|
| LARRY P SCRIGGINS |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO |
| 5.41 |
|
| CUST FOR THE ROLLOVER IRA OF |
|
|
|
| STEVEN E WATERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO |
| 8.61 |
|
| CUST FOR THE ROTH IRA OF |
|
|
|
| THOMAS GONG WONG |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 11.78 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
GOVERNMENT RESERVE FUND |
| EYE & CO |
| 14.61 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN GROWTH STOCK FUND |
|
|
|
|
|
|
|
|
| SEAMILE & CO |
| 16.55 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN CAPITAL APPREC FUND |
|
|
GROWTH & INCOME FUND |
| SPECTRUM GROWTH FUND |
| 15.31 |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
138
FUND |
| SHAREHOLDER |
| % |
GROWTH & INCOME FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 5.58 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| GARY M JACOBS |
| 6.11 |
|
|
|
|
|
|
| T ROWE PRICE TRUST CO |
| 5.74 |
|
| CUST FOR THE IRA OF |
|
|
|
| JERRY J WEYGANDT |
|
|
GROWTH STOCK FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 7.30 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2040 |
| 7.57 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 7.41 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 5.71 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO INC |
| 6.26 |
|
| ATTN: TRPS INST CONTROL DEPT |
|
|
GROWTH STOCK FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 15.82 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONWIDE LIFE INSURANCE CO |
| 13.41 |
|
| DCVA |
|
|
|
| C/O IPO PORTFOLIO ACCOUNTING |
|
|
|
| PO BOX 182029 |
|
|
|
| COLUMBUS OH 43218-2029 |
|
|
|
|
|
|
|
|
| NATIONWIDE LIFE INSURANCE CO |
| 5.54 |
|
| NACO |
|
|
|
| C/O IPO PORTFOLIO ACCOUNTING |
|
|
|
|
|
|
|
|
| VANTAGETRUST - UNITIZED |
| 24.56 |
|
| C/O ICMA RETIREMENT CORPORATION |
|
|
|
| 777 NORTH CAPITOL STREET NE |
|
|
|
| WASHINGTON DC 20002-4239 |
|
|
139
FUND |
| SHAREHOLDER |
| % |
GROWTH STOCK FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 9.32 |
|
| ATTN MUTUAL FUNDS |
|
|
|
| 101 MONTGOMERY ST |
|
|
|
| SAN FRANCISCO CA 94104-4151 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 11.45 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 5.41 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 6.00 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
GROWTH STOCK FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 9.68 |
|
| 500 PLAZA DR FL 7 |
|
|
|
| SECAUCUS NJ 07094-3619 |
|
|
|
|
|
|
|
|
| HARTFORD LIFE INSURANCE CO |
| 8.10 |
|
| SEPARATE ACCOUNT |
|
|
|
| ATTN UIT OPERATIONS |
|
|
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 17.55 |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
|
|
|
|
|
| SUNTRUST BANK FBO |
| 6.65 |
|
| VARIOUS SUNTRUST OMNIBUS ACCOUNTS |
|
|
|
| 8515 E ORCHARD RD 2T2 |
|
|
|
| GREENWOOD VLG CO 80111-5002 |
|
|
|
|
|
|
|
|
| UMB BANK N/A |
| 7.45 |
|
| FBO FIDUCIARY FOR TAX DEFERRED |
|
|
|
| ACCOUNTS |
|
|
|
|
|
|
|
|
| UMB BANK NA SFR |
| 9.77 |
|
| FBO FIDUCIARY FOR TAX DEFERRED |
|
|
|
| ACCOUNTS GROUP |
|
|
140
FUND |
| SHAREHOLDER |
| % |
HEALTH SCIENCES FUND |
| JOHN HANCOCK LIFE |
| 5.14 |
|
| INSURANCE CO USA |
|
|
|
| ATTN: JHRPS TRADING OPS ST6 |
|
|
|
| 200 BERKELEY STREET |
|
|
|
| BOSTON MA 02116-5022 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 8.80 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.46 |
HEALTH SCIENCES FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 15.15 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 17.56 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 7.96 |
|
| OMNIBUS ACCOUNT |
|
|
|
| TRP HEALTH SCIENCES - I |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 9.86 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
HIGH YIELD FUND |
| RETIREMENT PORTFOLIO 2020 |
| 8.42 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 6.52 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 6.35 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| SPECTRUM INCOME FUND |
| 18.68 |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
HIGH YIELD FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 92.30(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
141
FUND |
| SHAREHOLDER |
| % |
HIGH YIELD FUND—I CLASS |
| EDWARD D JONES & CO |
| 47.78(a) |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| FUBON LIFE INSURANCE CO., |
| 7.99 |
|
| LTD.-FIXED INCOME |
|
|
|
| 14F., NO.108, SEC.1, DUN HUA S. RD. |
|
|
|
| TAIPEI, 105 |
|
|
|
|
|
|
|
|
| RETIREMENT I 2020 FUND |
| 5.92 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 5.36 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 5.06 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
HIGH YIELD MULTI-SECTOR ACCOUNT PORTFOLIO |
| GENERAL DYNAMICS CORP 401K |
| 41.98(a) |
|
| PLAN MASTER TRUST CP |
|
|
|
|
|
|
|
|
| ILLINOIS STUDENT ASSISTANCE |
| 7.00 |
|
| COMMISSION |
|
|
|
| ATTN: ROGER ROJAS |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 46.34(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
INFLATION PROTECTED BOND FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 6.36 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 7.17 |
|
| OMNIBUS ACCOUNT |
|
|
|
| INFLATION PROTECTED BOND, #147 |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 7.27 |
|
| OUR CUSTOMERS |
|
|
142
FUND |
| SHAREHOLDER |
| % |
INFLATION PROTECTED BOND FUND—I CLASS |
| CBNA AS TRUSTEE FBO |
| 5.40 |
|
| COMMUNITY BANK 401(K) PLAN |
|
|
|
| 6 RHOADS DR STE 7 |
|
|
|
| UTICA NY 13502-6317 |
|
|
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 8.54 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| GREAT-WEST TRUST COMPANY LLC TTEE F |
| 5.86 |
|
| RECORDKEEPING FOR LARGE BENEFIT PL |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 11.52 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 7.96 |
|
| OMNIBUS ACCOUNT |
|
|
|
| TRP INFLATION PROTECTED BOND-I |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 8.75 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
INSTITUTIONAL AFRICA & MIDDLE EAST FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 88.42(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 8.53 |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
INSTITUTIONAL CASH RESERVES FUND |
| T ROWE PRICE ASSOCIATES |
| 97.23(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
143
FUND |
| SHAREHOLDER |
| % |
INSTITUTIONAL CORE PLUS FUND |
| BAND & CO C/O US BANK NA |
| 8.81 |
|
| 1555 N RIVERCENTER DR STE 302 |
|
|
|
| MILWAUKEE WI 53212-3958 |
|
|
|
|
|
|
|
|
| JEANETTE STUMP & |
| 9.86 |
|
| JAMES CARNEY & HOWARD KLINE TRS |
|
|
|
| SPECIAL METALS CORPORATION RETIREE |
|
|
|
| BENEFIT TRUST |
|
|
|
| 60 BLVD OF THE ALLIES FL 5 |
|
|
|
| PITTSBURGH PA 15222-1209 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 27.34(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SAXON & CO |
| 5.89 |
|
|
|
|
|
|
| SEI PRIVATE TRUST COMPANY |
| 7.69 |
|
| C/O SUNTRUST BANK |
|
|
|
| THE CHURCH FOUNDATION |
|
|
|
| ATTN; MUTUAL FUND ADMIN |
|
|
INSTITUTIONAL EMERGING MARKETS BOND FUND |
| CHARLES SCHWAB & CO INC |
| 12.87 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| GREAT-WEST TRUST COMPANY LLC TTEE F |
| 6.70 |
|
| C/O MUTUAL FUND TRADING |
|
|
|
| RECORDKEEPING FOR VARIOUS BENEFIT P |
|
|
|
|
|
|
|
|
| HORIZONDECK & CO |
| 6.64 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN GLOBAL ALLOCATION FUND |
|
|
|
|
|
|
|
|
| LADYBIRD & CO |
| 26.33(d) |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN PERS STRATEGY INCOME FD |
|
|
|
|
|
|
|
|
| LADYBUG & CO |
| 16.37 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN PERS STRATEGY BALANCED FD |
|
|
|
|
|
|
|
|
| LAKESIDE & CO |
| 7.33 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN PERS STRATEGY GROWTH FUND |
|
|
144
FUND |
| SHAREHOLDER |
| % |
INSTITUTIONAL EMERGING MARKETS EQUITY FUND |
| GOLDMAN SACHS & CO |
| 20.04 |
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
|
| 85 BROAD ST |
|
|
|
| NEW YORK NY 10004-2434 |
|
|
|
|
|
|
|
|
| LADYBUG & CO |
| 6.58 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN PERS STRATEGY BALANCED FD |
|
|
|
|
|
|
|
|
| LAKESIDE & CO |
| 10.77 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN PERS STRATEGY GROWTH FUND |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 17.20 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| WELLS FARGO BANK NA FBO |
| 16.74 |
|
| OMNIBUS ACCOUNT CASH/CASH |
|
|
INSTITUTIONAL FLOATING RATE FUND |
| CHARLES SCHWAB & CO INC |
| 7.16 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| MAC & CO |
| 6.01 |
|
| ATTN MUTUAL FUND OPERATION |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 26.70(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| WELLS FARGO BANK NA FBO |
| 9.43 |
|
| OMNIBUS ACCOUNT CASH/CASH |
|
|
145
FUND |
| SHAREHOLDER |
| % |
INSTITUTIONAL FLOATING RATE FUND—F CLASS |
| CHARLES SCHWAB & CO INC |
| 9.25 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 11.37 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SAXON & CO. |
| 53.33(a) |
|
| P.O. BOX 7780-1888 |
|
|
|
| PHILADELPHIA PA 19182-0001 |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 10.66 |
|
| OUR CUSTOMERS |
|
|
INSTITUTIONAL HIGH YIELD FUND |
| BREAD & CO |
| 11.78 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN BALANCED FUND |
|
|
|
|
|
|
|
|
| GOLDMAN SACHS & CO |
| 10.61 |
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| LADYBIRD & CO |
| 6.17 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN PERS STRATEGY INCOME FD |
|
|
|
|
|
|
|
|
| MAC & CO |
| 5.53 |
|
| ATTN: MUTUAL FUND OPERATIONS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 24.77 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
INSTITUTIONAL INTERNATIONAL CORE EQUITY FUND |
| CAPINCO C/O US BANK NA |
| 48.80(a) |
|
| 1555 N RIVERCENTER DR STE 302 |
|
|
|
| MILWAUKEE WI 53212-3958 |
|
|
|
|
|
|
|
|
| KEYBANK NA |
| 11.43 |
|
| CIA-INTERNATIONAL CUST PRI USD |
|
|
|
| P O BOX 94871 |
|
|
|
| CLEVELAND OH 44101-4871 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 15.85 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 8.58 |
|
|
|
|
|
|
| VOYA INSTITUTIONAL TRUST COMPANY |
| 7.52 |
|
| 1 ORANGE WAY B3N |
|
|
|
| WINDSOR CT 06095-4774 |
|
|
146
FUND |
| SHAREHOLDER |
| % |
INSTITUTIONAL INTERNATIONAL DISCIPLINED EQUITY |
| CHARLES SCHWAB & CO INC |
| 8.12 |
FUND |
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 21.47 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| COLUMBIA TRUST PARTNERS |
| 5.54 |
|
| PO BOX 1012 |
|
|
|
| SALEM OR 97308-1012 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 44.08(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
INSTITUTIONAL INTERNATIONAL GROWTH EQUITY FUND |
| BNA FOREIGN EQUITY FUND |
| 39.65(a) |
|
| ATTN MR ROBERT SHEW |
|
|
|
| 1801 S BELL ST |
|
|
|
| ARLINGTON VA 22202-4506 |
|
|
|
|
|
|
|
|
| KEYBANK NA |
| 10.85 |
|
| LINK-BELT EE RETMT-T. ROWE PRICE PR |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 35.97(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SAXON & CO |
| 7.49 |
INSTITUTIONAL LARGE-CAP CORE GROWTH FUND |
| NATIONAL FINANCIAL SVCS CORP |
| 32.54(a) |
|
| FOR EXCLUSIVE BENEFIT OF OUR |
|
|
|
| CUSTOMERS |
|
|
|
| RUSS LENNON |
|
|
|
|
|
|
|
|
| VANGUARD FIDUCIARY TRUST COMPANY |
| 9.22 |
|
| T ROWE INSTITUTIONAL CLASS |
|
|
|
| ATTN OUTSIDE FUNDS/SCOTT GELLERT |
|
|
INSTITUTIONAL LONG DURATION CREDIT FUND |
| BAND & CO C/O US BANK NA |
| 40.75(a) |
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 48.60(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 5.88 |
|
| OUR CUSTOMERS |
|
|
147
FUND |
| SHAREHOLDER |
| % |
INSTITUTIONAL MID-CAP EQUITY GROWTH FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 35.76(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| THE STATE OF WISCONSIN DEF COMP BRD |
| 7.44 |
|
| C/O FASCORE LLC |
|
|
|
| FBO WISCONSIN DCP |
|
|
|
|
|
|
|
|
| VANGUARD FIDUCIARY TRUST COMPANY |
| 5.74 |
|
| T ROWE INSTITUTIONAL CLASS |
|
|
|
| ATTN OUTSIDE FUNDS/SCOTT GELLERT |
|
|
INSTITUTIONAL SMALL-CAP STOCK FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 32.26(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| NORTHERN TRUST COMPANY TR |
| 9.11 |
|
| FBO PFIZER SAVINGS AND |
|
|
|
| INVESTMENT PLAN |
|
|
|
| PO BOX 92994 |
|
|
|
| CHICAGO IL 60675-0001 |
|
|
|
|
|
|
|
|
| STATE OF FLORIDA PUBLIC |
| 5.02 |
|
| EMPLOYEES OPTIONAL RETIREMENT |
|
|
|
| PROGRAM-FLORIDA RETIREMENT SYSTEM |
|
|
|
| 1801 HERMITAGE BLVD STE 100 |
|
|
|
| TALLAHASSEE FL 32308-7743 |
|
|
|
|
|
|
|
|
| STATE OF MINNESOTA |
| 15.06 |
|
| FBO MINNESOTA STATE RETIREMENT SYST |
|
|
|
| 8515 E ORCHARD RD 2T2 |
|
|
|
| GREENWOOD VLG CO 80111-5002 |
|
|
|
|
|
|
|
|
| VANGUARD FIDUCIARY TRUST COMPANY |
| 14.81 |
|
| T ROWE INSTITUTIONAL CLASS |
|
|
|
| ATTN OUTSIDE FUNDS/SCOTT GELLERT |
|
|
INTERMEDIATE TAX-FREE HIGH YIELD FUND |
| T ROWE PRICE ASSOCIATES |
| 64.37(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
INTERMEDIATE TAX-FREE HIGH YIELD FUND—ADVISOR |
| LPL FINANCIAL |
| 48.21(a) |
CLASS |
| OMNIBUS CUSTOMER ACCOUNT |
|
|
|
| ATTN: MUTUAL FUND TRADING |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 49.03(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
148
FUND |
| SHAREHOLDER |
| % |
INTERMEDIATE TAX-FREE HIGH YIELD FUND—I CLASS |
| CHARLES BLAKE HILL |
| 15.64 |
|
| EUGENIA N HILL JT TEN |
|
|
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 15.33 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| IRA J GINSBERG |
| 29.46(a) |
|
|
|
|
|
|
| J D EISNER F R ROCKWELL TRS |
| 8.43 |
|
| JOHN R ROCKWELL MARITAL TRUST |
|
|
|
|
|
|
|
|
| NANCY AND DALE RATHER FAMILY LLC |
| 19.35 |
INTERNATIONAL BOND FUND (USD HEDGED) |
| RETIREMENT PORTFOLIO 2010 |
| 5.10 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2040 |
| 6.29 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2015 |
| 7.11 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 18.44 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 15.35 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 15.88 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 7.89 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| SPECTRUM INCOME FUND |
| 10.40 |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
INTERNATIONAL BOND FUND (USD HEDGED)—ADVISOR |
| T ROWE PRICE ASSOCIATES |
| 100.00(c) |
CLASS |
| ATTN FINANCIAL REPORTING DEPT |
|
|
149
FUND |
| SHAREHOLDER |
| % |
INTERNATIONAL BOND FUND (USD HEDGED)—I CLASS |
| LADYBIRD & CO |
| 8.67 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN PERS STRATEGY INCOME FD |
|
|
|
|
|
|
|
|
| LADYBUG & CO |
| 6.32 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN PERS STRATEGY BALANCED FD |
|
|
|
|
|
|
|
|
| RETIREMENT I 2015 FUND |
| 5.17 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2020 FUND |
| 15.16 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 14.37 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 14.20 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 7.96 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 6.06 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
INTERNATIONAL BOND FUND |
| CHARLES SCHWAB & CO INC |
| 7.30 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 5.95 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SPECTRUM INCOME FUND |
| 20.60 |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
150
FUND |
| SHAREHOLDER |
| % |
INTERNATIONAL BOND FUND—ADVISOR CLASS |
| MORGAN STANLEY SMITH BARNEY LLC |
| 10.67 |
|
| FOR THE EXCL BENEFIT OF ITS CUST |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 20.40 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 6.30 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 26.56(a) |
|
| OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| VOYA INSTITUTIONAL TRUST COMPANY |
| 6.85 |
|
|
|
|
|
|
| WELLS FARGO CLEARING SERVICES LLC |
| 5.32 |
|
| SPECIAL CUSTODY ACCT FOR THE |
|
|
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
INTERNATIONAL BOND FUND—I CLASS |
| EDWARD D JONES & CO |
| 39.85(a) |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 10.29 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 33.96(a) |
|
| OUR CUSTOMERS |
|
|
INTERNATIONAL DISCIPLINED EQUITY FUND |
| CHARLES SCHWAB & CO INC |
| 41.10(a) |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 27.81(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 9.01 |
|
| OUR CUSTOMERS |
|
|
INTERNATIONAL DISCIPLINED EQUITY FUND—ADVISOR |
| GREAT-WEST TRUST COMPANY LLC FBO |
| 8.48 |
CLASS |
| EMPLOYEE BENEFITS CLIENTS 401K |
|
|
|
|
|
|
|
|
| LPL FINANCIAL |
| 6.25 |
|
| OMNIBUS CUSTOMER ACCOUNT |
|
|
|
| ATTN: MUTUAL FUND TRADING |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 78.11(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
151
FUND |
| SHAREHOLDER |
| % |
INTERNATIONAL DISCIPLINED EQUITY FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 35.54(a) |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 56.02(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
INTERNATIONAL DISCOVERY FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 22.89 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 13.96 |
INTERNATIONAL DISCOVERY FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 8.34 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| EDWARD D JONES & CO |
| 22.44 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 24.46 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| VANGUARD FIDUCIARY TRUST CO |
| 11.27 |
|
| ATTN INVESTMENT SERVICES |
|
|
|
| 401K CLIENTS |
|
|
|
| PO BOX 2600 |
|
|
|
| VALLEY FORGE PA 19482-2600 |
|
|
INTERNATIONAL EQUITY INDEX FUND |
| MARYLAND COLLEGE INVESTMENT PLAN |
| 16.45 |
|
| GLOBAL EQUITY MARKET INDEX |
|
|
|
| ATTN FUND ACCOUNTING |
|
|
|
| 100 E PRATT ST FL 7 |
|
|
|
| BALTIMORE MD 21202-1009 |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.73 |
152
FUND |
| SHAREHOLDER |
| % |
INTERNATIONAL STOCK FUND |
| RETIREMENT PORTFOLIO 2040 |
| 9.62 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 7.22 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 8.19 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 11.73 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 7.95 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2045 |
| 5.94 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2050 |
| 5.14 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
INTERNATIONAL STOCK FUND—ADVISOR CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 5.06 |
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 35.28(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.45 |
|
|
|
|
|
|
| WELLS FARGO CLEARING SERVICES LLC |
| 6.07 |
|
| SPECIAL CUSTODY ACCT FOR THE |
|
|
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
153
FUND |
| SHAREHOLDER |
| % |
INTERNATIONAL STOCK FUND—I CLASS |
| EDWARD D JONES & CO |
| 12.96 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 9.33 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| RETIREMENT I 2020 FUND |
| 6.37 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 8.48 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 11.81 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 8.89 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 10.57 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2045 FUND |
| 7.29 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2050 FUND |
| 6.75 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
154
FUND |
| SHAREHOLDER |
| % |
INTERNATIONAL STOCK FUND—R CLASS |
| AMERICAN UNITED LIFE |
| 14.77 |
|
| SEPARATE ACCOUNT II |
|
|
|
| ATTN SEPARATE ACCOUNTS |
|
|
|
|
|
|
|
|
| AXA EQUITABLE FOR SA NO 65 |
| 10.12 |
|
|
|
|
|
|
| CAPITAL BANK & TRUST COMPANY TTEE |
| 5.79 |
|
| C/O FASCORE LLC |
|
|
|
| PATTCO LLC 401K |
|
|
|
| 8515 E ORCHARD RD 2T2 |
|
|
|
| GREENWOOD VLG CO 80111-5002 |
|
|
|
|
|
|
|
|
| DCGT AS TTEE AND/OR CUST |
| 20.98 |
|
| ATTN NPIO TRADE DESK |
|
|
|
| FBO PLIC VARIOUS RETIREMENT PLANS |
|
|
|
| OMNIBUS |
|
|
|
|
|
|
|
|
| NATIONWIDE TRUST CO FSB |
| 5.06 |
|
| C/O IPO PORTFOLIO ACCOUNTING |
|
|
INTERNATIONAL VALUE EQUITY FUND |
| RETIREMENT PORTFOLIO 2040 |
| 12.52 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 9.94 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 11.15 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 15.49 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 10.41 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2045 |
| 7.63 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2050 |
| 6.63 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
155
FUND |
| SHAREHOLDER |
| % |
INTERNATIONAL VALUE EQUITY FUND—ADVISOR CLASS |
| AMERICAN UNITED LIFE |
| 7.00 |
|
| SEPARATE ACCOUNT II |
|
|
|
| ATTN SEPARATE ACCOUNTS |
|
|
|
|
|
|
|
|
| GREAT-WEST TRUST COMPANY LLC FBO |
| 6.14 |
|
| EMPLOYEE BENEFITS CLIENTS 401K |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 6.02 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 51.29(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
INTERNATIONAL VALUE EQUITY FUND—I CLASS |
| RETIREMENT I 2020 FUND |
| 8.68 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 11.39 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 15.40 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 11.58 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 13.75 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2045 FUND |
| 9.38 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2050 FUND |
| 8.68 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
156
FUND |
| SHAREHOLDER |
| % |
INTERNATIONAL VALUE EQUITY FUND—R CLASS |
| AMERICAN UNITED LIFE |
| 6.32 |
|
| SEPARATE ACCOUNT II |
|
|
|
| ATTN SEPARATE ACCOUNTS |
|
|
|
|
|
|
|
|
| DCGT AS TTEE AND/OR CUST |
| 9.19 |
|
| ATTN NPIO TRADE DESK |
|
|
|
| FBO PLIC VARIOUS RETIREMENT PLANS |
|
|
|
| OMNIBUS |
|
|
|
|
|
|
|
|
| SAMMONS FINANCIAL NETWORK LLC |
| 36.78(a) |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 33.02(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
INVESTMENT-GRADE CORPORATE MULTI-SECTOR |
| ALLEN & COMPANY |
| 7.23 |
ACCOUNT PORTFOLIO |
| 711 5TH AVE FL 9 |
|
|
|
| NEW YORK NY 10022-3168 |
|
|
|
|
|
|
|
|
| BALTIMORE EQUITABLE SOCIETY |
| 7.34 |
|
| ATTN MARY HARLEE |
|
|
|
|
|
|
|
|
| GENERAL DYNAMICS CORP 401K |
| 73.53(a) |
|
| PLAN MASTER TRUST CP |
|
|
|
|
|
|
|
|
| ILLINOIS STUDENT ASSISTANCE |
| 11.90 |
|
| COMMISSION |
|
|
|
| ATTN: ROGER ROJAS |
|
|
JAPAN FUND |
| CHARLES SCHWAB & CO INC |
| 7.74 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| MORGAN STANLEY SMITH BARNEY LLC |
| 48.04(a) |
|
| FOR THE EXCL BENEFIT OF ITS CUST |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 5.80 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SPECTRUM INTERNATIONAL FUND |
| 11.93 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
JAPAN FUND—I CLASS |
| J.P. MORGAN SECURITIES LLC |
| 82.79(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| S KENNETH LEECH |
| 6.43 |
|
| EILEEN STUECK LEECH JT TEN |
|
|
157
FUND |
| SHAREHOLDER |
| % |
LARGE-CAP GROWTH FUND |
| CHARLES SCHWAB & CO INC |
| 6.13 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| EDWARD D JONES & CO |
| 9.23 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 26.74(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
LARGE-CAP VALUE FUND |
| CHARLES SCHWAB & CO INC |
| 6.56 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| MAC & CO |
| 12.18 |
|
| ATTN MUTUAL FUND OPERATION |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 43.54(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TIAA, FSB CUST/TTEE FBO |
| 11.00 |
|
| RETIREMENT PLANS FOR WHICH |
|
|
|
| TIAA ACTS AS RECORDKEEPER |
|
|
|
| ATTN TRUST OPERATIONS |
|
|
|
| 211 N BROADWAY STE 1000 |
|
|
|
| SAINT LOUIS MO 63102-2748 |
|
|
LATIN AMERICA FUND |
| CHARLES SCHWAB & CO INC |
| 5.94 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 9.37 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
LATIN AMERICA FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 18.72 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| ROBERT D AWALT |
| 6.24 |
|
| KATHERINE J AWALT JT TEN |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 55.52(b) |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| WASHINGTON & CO C/O US BANK NA |
| 12.63 |
|
| 1555 N RIVERCENTER DR STE 302 |
|
|
|
| MILWAUKEE WI 53212-3958 |
|
|
158
FUND |
| SHAREHOLDER |
| % |
LIMITED DURATION INFLATION FOCUSED BOND FUND |
| RETIREMENT INCOME PORTFOLIO |
| 8.66 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2010 |
| 8.58 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2015 |
| 10.53 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 20.93 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 10.26 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 5.91 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| T ROWE PRICE SERVICES INC FBO |
| 7.24 |
|
| EDUCATION TRUST OF ALASKA |
|
|
|
| ENROLLMENT PORTFOLIO |
|
|
|
|
|
|
|
|
| T ROWE PRICE SERVICES INC FBO |
| 5.65 |
|
| MARYLAND COLLEGE INVESTMENT PLAN |
|
|
|
| PORTFOLIO FOR EDUCATION TODAY |
|
|
159
FUND |
| SHAREHOLDER |
| % |
LIMITED DURATION INFLATION FOCUSED BOND FUND— |
| RETIREMENT BALANCED I FUND |
| 7.00 |
I CLASS |
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2010 FUND |
| 8.21 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2015 FUND |
| 13.07 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2020 FUND |
| 29.07(a) |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 15.12 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 6.72 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
MARYLAND SHORT-TERM TAX-FREE BOND FUND |
| CHARLES SCHWAB & CO INC |
| 10.54 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 8.21 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 6.42 |
160
FUND |
| SHAREHOLDER |
| % |
MARYLAND SHORT-TERM TAX-FREE BOND FUND— |
| BANK OF NEW YORK MELLON N.A. |
| 6.66 |
I CLASS |
| PO BOX 534005 |
|
|
|
| PITTSBURGH PA 15253-4005 |
|
|
|
|
|
|
|
|
| JOHN D BESSON |
| 7.06 |
|
| KAREN S BESSON TEN ENT |
|
|
|
|
|
|
|
|
| MICHAEL C YEN |
| 6.68 |
|
| PEGGY K YEN JT TEN T O D |
|
|
MARYLAND TAX-FREE BOND FUND |
| CHARLES SCHWAB & CO INC |
| 6.03 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 10.10 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SAXON & CO. |
| 5.13 |
MARYLAND TAX-FREE BOND FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 9.74 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
MARYLAND TAX-FREE MONEY FUND |
| BARBARA T TICE T O D |
| 8.48 |
|
|
|
|
|
|
| GARY S TIMME |
| 7.43 |
|
| MILDRED A TIMME TEN ENT |
|
|
|
|
|
|
|
|
| WILLIAM F TIMME |
| 9.25 |
|
| THERESA M TIMME JT TEN |
|
|
MARYLAND TAX-FREE MONEY FUND—I CLASS |
| ARTHUR B CECIL III TR |
| 7.89 |
|
| ARTHUR B CECIL III REVOCABLE TRUST |
|
|
|
|
|
|
|
|
| KEITH A. LEE |
| 43.69(a) |
|
|
|
|
|
|
| LALITHA DORAI AGENT |
| 5.51 |
|
| ZEENA DORAI |
|
|
|
|
|
|
|
|
| MARY JOHN MILLER |
| 13.90 |
|
| JAMES D MILLER JT TEN |
|
|
MID-CAP GROWTH FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 12.87 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO |
| 12.36 |
|
| ATTN: ASSET RECONCILIATIONS |
|
|
161
FUND |
| SHAREHOLDER |
| % |
MID-CAP GROWTH FUND—ADVISOR CLASS |
| MAC & CO |
| 25.00(a) |
|
| ATTN: MUTUAL FUND OPERATIONS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 31.01(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
MID-CAP GROWTH FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 15.23 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 18.20 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
MID-CAP GROWTH FUND—R CLASS |
| AMERICAN UNITED LIFE |
| 13.61 |
|
| SEPARATE ACCOUNT II |
|
|
|
| ATTN SEPARATE ACCOUNTS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 6.66 |
|
|
|
|
|
|
| NATIONWIDE TRUST CO FSB |
| 14.93 |
|
| C/O IPO PORTFOLIO ACCOUNTING |
|
|
|
|
|
|
|
|
| SUNTRUST BANK FBO |
| 14.22 |
|
| VARIOUS SUNTRUST OMNIBUS ACCOUNTS |
|
|
|
|
|
|
|
|
| VOYA INSTITUTIONAL TRUST COMPANY |
| 7.52 |
|
|
|
|
|
|
| VOYA RETIREMENT INS & ANNUITY CO |
| 10.05 |
MID-CAP INDEX FUND |
| T ROWE PRICE ASSOCIATES |
| 100.00(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
MID-CAP INDEX FUND—I CLASS |
| T ROWE PRICE ASSOCIATES |
| 100.00(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
162
FUND |
| SHAREHOLDER |
| % |
MID-CAP VALUE FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 7.09 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2040 |
| 6.06 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 5.16 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 7.40 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 5.01 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
MID-CAP VALUE FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 61.78(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
MID-CAP VALUE FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 12.21 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 5.04 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 7.03 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 5.36 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 6.36 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
163
FUND |
| SHAREHOLDER |
| % |
MID-CAP VALUE FUND—R CLASS |
| NATIONWIDE TRUST CO FSB |
| 31.26(a) |
|
| C/O IPO PORTFOLIO ACCOUNTING |
|
|
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 42.44(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
|
|
|
|
|
| VOYA RETIREMENT INS & ANNUITY CO |
| 5.97 |
MORTGAGE-BACKED SECURITIES MULTI-SECTOR |
| ALLEN & COMPANY |
| 7.69 |
ACCOUNT PORTFOLIO |
|
|
|
|
|
| BALTIMORE EQUITABLE SOCIETY |
| 8.25 |
|
| ATTN MARY HARLEE |
|
|
|
|
|
|
|
|
| GENERAL DYNAMICS CORP 401K |
| 57.56(a) |
|
| PLAN MASTER TRUST CP |
|
|
|
|
|
|
|
|
| ILLINOIS STUDENT ASSISTANCE |
| 10.90 |
|
| COMMISSION |
|
|
|
| ATTN: ROGER ROJAS |
|
|
|
|
|
|
|
|
| XCEL ENERGY INC. |
| 15.61 |
|
| ATTN: GREG ZICK |
|
|
MULTI-STRATEGY TOTAL RETURN FUND |
| T ROWE PRICE ASSOCIATES |
| 81.99(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
MULTI-STRATEGY TOTAL RETURN FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 6.96 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| DARRELL M RILEY |
| 24.88 |
|
| LYNDA AALPOEL RILEY TEN COM |
|
|
|
|
|
|
|
|
| RICHARD N. DE LOS REYES T O D |
| 24.83 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 6.25 |
|
| OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 37.07(b) |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
164
FUND |
| SHAREHOLDER |
| % |
NEW AMERICA GROWTH FUND |
| CHARLES SCHWAB & CO INC |
| 7.73 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 19.38 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO |
| 5.66 |
|
| ATTN TRPS INST CONTROL DEPT |
|
|
NEW AMERICA GROWTH FUND—ADVISOR CLASS |
| CHARLES SCHWAB & CO INC |
| 8.91 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| GREAT-WEST TRUST COMPANY LLC TTEE F |
| 10.69 |
|
| FBO:SANTA BARBARA COUNTY DCP |
|
|
|
| C/O FASCORE LLC |
|
|
|
|
|
|
|
|
| MATRIX TRUST CO AS CUST FBO |
| 9.01 |
|
| VALLEY MEDICAL CENTER 403B |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 10.01 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| VRSCO |
| 31.24(a) |
|
| FBO AIGFSB CUST TTEE FBO |
|
|
|
| WAKEMED RET SAV PLAN 403B |
|
|
|
| 2929 ALLEN PKWY STE A6-20 |
|
|
|
| HOUSTON TX 77019-7117 |
|
|
NEW AMERICA GROWTH FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 17.61 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| GREAT-WEST TRUST COMPANY LLC TTEE F |
| 5.30 |
|
| HUB INTERNATIONAL LIMITED 401K |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 25.48(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
165
FUND |
| SHAREHOLDER |
| % |
NEW ASIA FUND |
| CHARLES SCHWAB & CO INC |
| 6.34 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 9.90 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SPECTRUM INTERNATIONAL FUND |
| 8.46 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
NEW ASIA FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 6.39 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| J.P. MORGAN SECURITIES LLC |
| 57.00(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
NEW ERA FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 13.49 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
NEW ERA FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 52.45(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| STATE STREET BANK & TRUST CO |
| 7.34 |
|
| FBO KP FUNDS TRUST |
|
|
|
| 1 FREEDOM VALLEY DR |
|
|
|
| OAKS PA 19456-9989 |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 9.10 |
|
| OUR CUSTOMERS |
|
|
NEW HORIZONS FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 12.44 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO INC |
| 10.14 |
|
| ATTN: TRPS INST CONTROL DEPT |
|
|
NEW HORIZONS FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 27.03(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 6.75 |
|
| OMNIBUS DST#532 CUSIP:779562206 |
|
|
|
| TRP NEW HORIZONS FUND-I |
|
|
166
FUND |
| SHAREHOLDER |
| % |
NEW INCOME FUND |
| RETIREMENT PORTFOLIO 2040 |
| 5.08 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2015 |
| 5.89 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 15.11 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 12.45 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 12.78 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 6.48 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| SPECTRUM INCOME FUND |
| 7.11 |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
NEW INCOME FUND—ADVISOR CLASS |
| PERSHING LLC |
| 11.71 |
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 5.32 |
|
| OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| WTRISC CO IRA OMNIBUS ACCT |
| 47.56(a) |
|
| C/O ICMA RETIREMENT CORPORATION |
|
|
167
FUND |
| SHAREHOLDER |
| % |
NEW INCOME FUND—I CLASS |
| EDWARD D JONES & CO |
| 7.47 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| J.P. MORGAN SECURITIES LLC |
| 38.41(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RETIREMENT I 2020 FUND |
| 9.14 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 8.80 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 8.60 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
NEW INCOME FUND—R CLASS |
| CAMILLE VANDEVANTER DDS PS TTEE FBO |
| 19.94 |
|
| C/O FASCORE LLC |
|
|
|
| CAMILLE VANDEVANTER DDS PS 401K RET |
|
|
|
| 8515 E ORCHARD RD 2T2 |
|
|
|
| GREENWOOD VLG CO 80111-5002 |
|
|
|
|
|
|
|
|
| DCGT AS TTEE AND/OR CUST |
| 10.25 |
|
| ATTN NPIO TRADE DESK |
|
|
|
| FBO PLIC VARIOUS RETIREMENT PLANS |
|
|
|
| OMNIBUS |
|
|
|
|
|
|
|
|
| MG TRUST COMPANY CUST FBO |
| 5.43 |
|
| CHRISTINE AND RICHARD FAIRBANK 401K |
|
|
|
|
|
|
|
|
| NATIONWIDE TRUST CO FSB |
| 13.20 |
|
| C/O IPO PORTFOLIO ACCOUNTING |
|
|
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 25.11(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
NEW JERSEY TAX-FREE BOND FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 36.72(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
168
FUND |
| SHAREHOLDER |
| % |
NEW JERSEY TAX-FREE BOND FUND—I CLASS |
| AMANDA A SMITH TR |
| 6.73 |
|
| AMANDA A SMITH REV TRUST |
|
|
|
|
|
|
|
|
| ARTHUR A BOGUT |
| 6.35 |
|
| PATRICIA A BOGUT JT TEN |
|
|
|
|
|
|
|
|
| BARBARA E MONTANA T O D |
| 5.76 |
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 9.82 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| HOWARD J KRONGARD TR |
| 5.14 |
|
| HOWARD J KRONGARD REV TRUST |
|
|
|
|
|
|
|
|
| J. BARTON STERLING T O D |
| 6.61 |
|
|
|
|
|
|
| MARJORIE NEWBERGER |
| 9.45 |
|
|
|
|
|
|
| RICHARD F LENIHAN |
| 5.02 |
|
| ARLENE M MURPHY JT TEN |
|
|
NEW YORK TAX-FREE BOND FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 7.67 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
NEW YORK TAX-FREE BOND FUND—I CLASS |
| ALICE S ROTHMAN |
| 9.21 |
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 14.59 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 6.91 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| ROBERT S KAPLAN |
| 7.75 |
|
| JAMIE SCHUVAL-KAPLAN JT TEN |
|
|
|
|
|
|
|
|
| SEYMOUR J ROTHMAN |
| 6.10 |
169
FUND |
| SHAREHOLDER |
| % |
NEW YORK TAX-FREE MONEY FUND—I CLASS |
| ALAN BELZER |
| 5.48 |
|
|
|
|
|
|
| BARBARA J. LE FEBVRE |
| 8.27 |
|
|
|
|
|
|
| DAVID TESSER |
| 10.34 |
|
|
|
|
|
|
| PAULA D GLASBERG |
| 39.73(a) |
|
|
|
|
|
|
| PAULA D GLASBERG HILARY GOLDBERG |
| 19.30 |
|
| TRS THE DISCLAIMER TRUST UNDER |
|
|
|
| THE GLASBERG FAMILY REV TRUST U/A |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO |
| 13.76 |
|
| CUST FOR THE IRA OF |
|
|
|
| PAULA D GLASBERG |
|
|
OVERSEAS STOCK FUND |
| RETIREMENT PORTFOLIO 2040 |
| 10.41 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 7.98 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 8.93 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 12.70 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 8.60 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2045 |
| 6.37 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2050 |
| 5.50 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| WELLS FARGO CLEARING SERVICES LLC |
| 10.60 |
|
| SPECIAL CUSTODY ACCT FOR THE |
|
|
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
170
FUND |
| SHAREHOLDER |
| % |
OVERSEAS STOCK FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 86.57(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
OVERSEAS STOCK FUND—I CLASS |
| EDWARD D JONES & CO |
| 11.87 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 11.26 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 5.44 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 7.57 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 5.75 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 6.86 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| WELLS FARGO BANK NA FBO |
| 6.74 |
|
| OMNIBUS CASH CASH |
|
|
QM GLOBAL EQUITY FUND |
| T ROWE PRICE ASSOCIATES |
| 65.93(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
QM GLOBAL EQUITY FUND—ADVISOR CLASS |
| T ROWE PRICE ASSOCIATES |
| 100.00(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
QM GLOBAL EQUITY FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 14.72 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 39.47(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 44.98(b) |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
QM U.S. SMALL & MID-CAP CORE EQUITY FUND |
| PERSHING LLC |
| 15.55 |
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 15.61 |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
171
FUND |
| SHAREHOLDER |
| % |
QM U.S. SMALL & MID-CAP CORE EQUITY FUND— |
| PERSHING LLC |
| 18.79 |
ADVISOR CLASS |
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 42.38(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| UMB BANK NA C/F |
| 5.02 |
|
| FREEPORT UNION FREE SD 403B |
|
|
|
| FBO BERNADETTE B BUCKLAND |
|
|
|
| 3414 CARROLLTON AVE |
|
|
|
| WANTAGH NY 11793-2918 |
|
|
QM U.S. SMALL & MID-CAP CORE EQUITY FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 58.43(a) |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 23.16 |
|
|
|
|
|
|
| TRAC 2000 |
| 5.96 |
|
| CHRISTOPHER L INGRAM 5305 SEP-IRA |
|
|
|
| CHRISTOPHER L INGRAM |
|
|
QM U.S. SMALL-CAP GROWTH EQUITY FUND |
| LPL FINANCIAL |
| 5.31 |
|
| OMNIBUS CUSTOMER ACCOUNT |
|
|
|
| ATTN: MUTUAL FUND TRADING |
|
|
|
|
|
|
|
|
| MLPF&S FOR THE SOLE BENEFIT OF |
| 5.90 |
|
| ITS CUSTOMERS |
|
|
|
|
|
|
|
|
| MORGAN STANLEY SMITH BARNEY LLC |
| 11.14 |
|
| FOR THE EXCL BENEFIT OF ITS CUST |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 13.73 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 10.20 |
|
|
|
|
|
|
| WELLS FARGO CLEARING SERVICES LLC |
| 5.63 |
|
| SPECIAL CUSTODY ACCT FOR THE |
|
|
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
172
FUND |
| SHAREHOLDER |
| % |
QM U.S. SMALL-CAP GROWTH EQUITY FUND—ADVISOR |
| DCGT AS TTEE AND/OR CUST |
| 16.34 |
CLASS |
| ATTN NPIO TRADE DESK |
|
|
|
| FBO PLIC VARIOUS RETIREMENT PLANS |
|
|
|
| OMNIBUS |
|
|
|
|
|
|
|
|
| JOHN HANCOCK TRUST COMPANY LLC |
| 16.51 |
|
| 690 CANTON ST STE 100 |
|
|
|
| WESTWOOD MA 02090-2324 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 31.83(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| UMB BANK CUSTODIAN |
| 33.02(a) |
|
| SECURITY FINANCIAL RESOURCES |
|
|
|
| ONE SECURITY BENEFIT PLACE |
|
|
|
| TOPEKA KS 66636-0001 |
|
|
QM U.S. SMALL-CAP GROWTH EQUITY FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 14.06 |
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| EDWARD D JONES & CO |
| 5.35 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 15.13 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.21 |
|
|
|
|
|
|
| SEI PRIVATE TRUST COMPANY |
| 6.21 |
|
| C/O SUNTRUST BANK |
|
|
|
| ATTN MUTUAL FUND ADMINISTRATOR |
|
|
|
|
|
|
|
|
| STATE STREET BANK AND TRUST COMPANY |
| 14.31 |
|
| AS TRUSTEE OF THE TRUST FOR THE NEW |
|
|
|
| YORK STATE DC PLAN |
|
|
|
| 1200 CROWN COLONY DR |
|
|
|
| QUINCY MA 02169-0938 |
|
|
QM U.S. VALUE EQUITY FUND |
| T ROWE PRICE ASSOCIATES |
| 43.42(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
QM U.S. VALUE EQUITY FUND—ADVISOR CLASS |
| T ROWE PRICE ASSOCIATES |
| 100.00(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
173
FUND |
| SHAREHOLDER |
| % |
QM U.S. VALUE EQUITY FUND—I CLASS |
| T ROWE PRICE ASSOCIATES |
| 35.99(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 62.10(b) |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
REAL ASSETS FUND |
| RETIREMENT PORTFOLIO 2040 |
| 11.97 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2020 |
| 9.64 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2025 |
| 10.78 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 15.02 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2035 |
| 9.99 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATT FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2045 |
| 7.26 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2050 |
| 6.29 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
174
FUND |
| SHAREHOLDER |
| % |
REAL ASSETS FUND—I CLASS |
| BREAD & CO |
| 6.61 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN BALANCED FUND |
|
|
|
|
|
|
|
|
| LAKESIDE & CO |
| 5.86 |
|
| C/O T ROWE PRICE ASSOC |
|
|
|
| ATTN PERS STRATEGY GROWTH FUND |
|
|
|
|
|
|
|
|
| RETIREMENT I 2020 FUND |
| 7.31 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2025 FUND |
| 9.55 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 13.02 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 9.70 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 11.37 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2045 FUND |
| 7.70 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2050 FUND |
| 7.11 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
REAL ESTATE FUND |
| CHARLES SCHWAB & CO INC |
| 6.91 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 20.89 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
REAL ESTATE FUND—ADVISOR CLASS |
| MAC & CO |
| 59.40(a) |
|
| ATTN: MUTUAL FUND OPERATIONS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 9.10 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
175
FUND |
| SHAREHOLDER |
| % |
REAL ESTATE FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 15.52 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 21.38 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| WELLS FARGO BANK NA FBO |
| 23.49 |
|
| OMNIBUS ACCT CASH/CASH |
|
|
|
| PO BOX 1533 |
|
|
|
| MINNEAPOLIS MN 55480-1533 |
|
|
RETIREMENT 2005 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 12.73 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 10.41 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT |
|
|
RETIREMENT 2005 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SVCS CORP |
| 19.97 |
|
| FOR EXCLUSIVE BENEFIT OF OUR |
|
|
|
| CUSTOMERS |
|
|
|
| RUSS LENNON |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.74 |
|
|
|
|
|
|
| WTRISC CO IRA OMNIBUS ACCT |
| 29.61(a) |
|
| C/O ICMA RETIREMENT CORPORATION |
|
|
|
| 777 NORTH CAPITOL STREET NE |
|
|
|
| WASHINGTON DC 20002-4239 |
|
|
RETIREMENT 2005 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 11.40 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 36.84(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
|
|
|
|
|
| VOYA RETIREMENT INS & ANNUITY CO |
| 20.69 |
RETIREMENT 2010 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 12.01 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 7.86 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT 2010 |
|
|
176
FUND |
| SHAREHOLDER |
| % |
RETIREMENT 2010 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 12.35 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RELIANCE TRUST COMPANY FBO |
| 10.78 |
|
| MASSMUTUAL REGISTERED PRODUCT |
|
|
|
| PO BOX 28004 |
|
|
|
| ATLANTA GA 30358-0004 |
|
|
|
|
|
|
|
|
| WTRISC CO IRA OMNIBUS ACCT |
| 6.43 |
|
| C/O ICMA RETIREMENT CORPORATION |
|
|
RETIREMENT 2010 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 5.36 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 44.49(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
|
|
|
|
|
| SUNTRUST BANK FBO |
| 5.71 |
|
| VARIOUS SUNTRUST OMNIBUS ACCOUNTS |
|
|
RETIREMENT 2015 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 12.96 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 10.82 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT |
|
|
RETIREMENT 2015 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SVCS CORP |
| 20.46 |
|
| FOR EXCLUSIVE BENEFIT OF OUR |
|
|
|
| CUSTOMERS |
|
|
|
| RUSS LENNON |
|
|
|
|
|
|
|
|
| WTRISC CO IRA OMNIBUS ACCT |
| 6.70 |
|
| C/O ICMA RETIREMENT CORPORATION |
|
|
RETIREMENT 2015 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 8.52 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 39.50(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
|
|
|
|
|
| VOYA RETIREMENT INS & ANNUITY CO |
| 10.35 |
RETIREMENT 2020 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 17.60 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 15.94 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT 2020 |
|
|
177
FUND |
| SHAREHOLDER |
| % |
RETIREMENT 2020 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 16.84 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RELIANCE TRUST COMPANY FBO |
| 6.38 |
|
| MASSMUTUAL REGISTERED PRODUCT |
|
|
RETIREMENT 2020 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 5.06 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 45.36(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
RETIREMENT 2025 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 20.16 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 19.96 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT |
|
|
RETIREMENT 2025 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SVCS CORP |
| 23.64 |
|
| FOR EXCLUSIVE BENEFIT OF OUR |
|
|
|
| CUSTOMERS |
|
|
|
| RUSS LENNON |
|
|
RETIREMENT 2025 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 8.89 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 42.94(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
|
|
|
|
|
| VOYA RETIREMENT INS & ANNUITY CO |
| 10.19 |
RETIREMENT 2030 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 19.86 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 19.12 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT 2030 |
|
|
RETIREMENT 2030 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 18.00 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RELIANCE TRUST COMPANY FBO |
| 6.40 |
|
| MASSMUTUAL REGISTERED PRODUCT |
|
|
RETIREMENT 2030 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 5.47 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 49.33(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
178
FUND |
| SHAREHOLDER |
| % |
RETIREMENT 2035 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 21.62 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 20.85 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT |
|
|
RETIREMENT 2035 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SVCS CORP |
| 26.53(a) |
|
| FOR EXCLUSIVE BENEFIT OF OUR |
|
|
|
| CUSTOMERS |
|
|
|
| RUSS LENNON |
|
|
RETIREMENT 2035 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 8.37 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 47.18(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
|
|
|
|
|
| VOYA RETIREMENT INS & ANNUITY CO |
| 9.35 |
RETIREMENT 2040 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 21.98 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 18.75 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT 2040 |
|
|
RETIREMENT 2040 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 19.51 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RELIANCE TRUST COMPANY FBO |
| 5.80 |
|
| MASSMUTUAL REGISTERED PRODUCT |
|
|
RETIREMENT 2040 FUND—R CLASS |
| STATE STREET BANK AND TRUST AS |
| 53.11(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
RETIREMENT 2045 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 24.85 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 21.44 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT |
|
|
RETIREMENT 2045 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SVCS CORP |
| 29.18(a) |
|
| FOR EXCLUSIVE BENEFIT OF OUR |
|
|
|
| CUSTOMERS |
|
|
|
| RUSS LENNON |
|
|
179
FUND |
| SHAREHOLDER |
| % |
RETIREMENT 2045 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 7.79 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 49.28(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
|
|
|
|
|
| VOYA RETIREMENT INS & ANNUITY CO |
| 9.30 |
RETIREMENT 2050 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 27.74(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 18.64 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT |
|
|
RETIREMENT 2050 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 25.05(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RELIANCE TRUST COMPANY FBO |
| 5.36 |
|
| MASSMUTUAL REGISTERED PRODUCT |
|
|
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 5.52 |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
RETIREMENT 2050 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 5.12 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 55.37(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
RETIREMENT 2055 FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 27.92(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 20.06 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT |
|
|
RETIREMENT 2055 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SVCS CORP |
| 37.83(a) |
|
| FOR EXCLUSIVE BENEFIT OF OUR |
|
|
|
| CUSTOMERS |
|
|
|
| RUSS LENNON |
|
|
RETIREMENT 2055 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 7.68 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 54.17(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
|
|
|
|
|
| VOYA RETIREMENT INS & ANNUITY CO |
| 7.54 |
180
FUND |
| SHAREHOLDER |
| % |
RETIREMENT 2060 FUND |
| DCGT AS TTEE AND/OR CUST |
| 6.63 |
|
| ATTN NPIO TRADE DESK |
|
|
|
| FBO PLIC VARIOUS RETIREMENT PLANS |
|
|
|
| OMNIBUS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 22.00 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 23.86 |
|
| OMNIBUS ACCOUNT CUSIP:74149P325 |
|
|
|
| TRP RETIREMENT 2060 #144 ABMQ |
|
|
RETIREMENT 2060 FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 22.65 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| VALIC SEPARATE ACCOUNT A |
| 6.71 |
|
| 2727-A ALLEN PKWY 4 D-1 |
|
|
|
| HOUSTON TX 77009 |
|
|
RETIREMENT 2060 FUND—R CLASS |
| AXA EQUITABLE FOR SA NO 65 |
| 5.20 |
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 50.91(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
|
|
|
|
|
|
| VOYA RETIREMENT INS & ANNUITY CO |
| 6.23 |
RETIREMENT BALANCED FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 9.56 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 6.03 |
|
| OMNIBUS ACCOUNT |
|
|
|
| RETIREMENT INCOME |
|
|
181
FUND |
| SHAREHOLDER |
| % |
RETIREMENT BALANCED FUND—ADVISOR CLASS |
| AMERITAS LIFE INSURANCE CORP |
| 6.22 |
|
| SEPARATE ACCOUNT G |
|
|
|
|
|
|
|
|
| CHARLES SCHWAB & CO INC |
| 5.42 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| LINCOLN FINANCIAL GROUP TRUST CO |
| 6.50 |
|
| FBO ROLLOVER IRA PLANS |
|
|
|
| 1 GRANITE PL |
|
|
|
| CONCORD NH 03301-3258 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 13.49 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RELIANCE TRUST COMPANY FBO |
| 12.64 |
|
| MASSMUTUAL REGISTERED PRODUCT |
|
|
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 5.20 |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
RETIREMENT BALANCED FUND—R CLASS |
| PIMS/PRUDENTIAL RETIREMENT |
| 23.40 |
|
| AS NOMINEE FOR THE TTEE/CUST PL 701 |
|
|
|
| NEPC - TAFT HARTLEY IRONWORKERS |
|
|
|
| PO BOX 30124 |
|
|
|
| SALT LAKE CTY UT 84130-0124 |
|
|
|
|
|
|
|
|
| STATE STREET BANK AND TRUST AS |
| 39.22(a) |
|
| TRUSTEE AND/OR CUSTODIAN |
|
|
|
| FBO ADP ACCESS PRODUCT |
|
|
RETIREMENT I 2005 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 46.91(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
RETIREMENT I 2010 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 29.12(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| TIAA, FSB CUST/TTEE FBO |
| 5.81 |
|
| RETIREMENT PLANS FOR WHICH |
|
|
|
| TIAA ACTS AS RECORDKEEPER |
|
|
|
| ATTN TRUST OPERATIONS |
|
|
182
FUND |
| SHAREHOLDER |
| % |
RETIREMENT I 2015 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 39.26(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| TIAA, FSB CUST/TTEE FBO |
| 5.43 |
|
| RETIREMENT PLANS FOR WHICH |
|
|
|
| TIAA ACTS AS RECORDKEEPER |
|
|
|
| ATTN TRUST OPERATIONS |
|
|
RETIREMENT I 2020 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 39.82(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
RETIREMENT I 2025 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 47.22(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
RETIREMENT I 2030 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 40.50(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
RETIREMENT I 2035 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 47.12(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
RETIREMENT I 2040 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 40.25(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
RETIREMENT I 2045 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 45.39(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
RETIREMENT I 2050 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 40.83(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
RETIREMENT I 2055 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 45.06(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
RETIREMENT I 2060 FUND—I CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 41.13(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| RELIANCE TRUST COMPANY FBO |
| 5.23 |
|
| MASSMUTUAL REGISTERED PRODUCT |
|
|
183
FUND |
| SHAREHOLDER |
| % |
RETIREMENT BALANCED I FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 6.57 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| FIFTH THIRD BANK TTEE |
| 5.13 |
|
| C/O FASCORE LLC |
|
|
|
| VARIOUS FASCORE LLC RECORDKEPT PLAN |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 12.83 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| SEI PRIVATE TRUST COMPANY |
| 6.62 |
|
| C/O FIRST HAWAIIAN BANK |
|
|
|
| FBO HOTEL UNION 401K T ROWE RET INC |
|
|
SCIENCE & TECHNOLOGY FUND |
| T ROWE PRICE RPS INC |
| 8.64 |
|
| OMNIBUS PLAN |
|
|
|
| NEW BUSINESS-CONV ASSTS |
|
|
|
| P O BOX 17215 |
|
|
|
| BALTIMORE MD 21297-1215 |
|
|
SCIENCE & TECHNOLOGY FUND—ADVISOR CLASS |
| JOHN HANCOCK LIFE |
| 86.62(a) |
|
| INSURANCE CO USA |
|
|
|
| ATTN: JHRPS TRADING OPS ST6 |
|
|
SCIENCE & TECHNOLOGY FUND—I CLASS |
| DCGT AS TTEE AND/OR CUST |
| 6.77 |
|
| ATTN NPIO TRADE DESK |
|
|
|
| FBO PLIC VARIOUS RETIREMENT PLANS |
|
|
|
| OMNIBUS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 6.00 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 6.02 |
|
|
|
|
|
|
| T ROWE PRICE RPS INC |
| 17.85 |
|
| OMNIBUS ACCOUNT |
|
|
|
| TRP SCIENCE AND TECHNOLOGY - I |
|
|
|
|
|
|
|
|
| TRUSTEES OF T ROWE PRICE |
| 18.52 |
|
| U.S. RETIREMENT PROGRAM |
|
|
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
184
FUND |
| SHAREHOLDER |
| % |
SHORT-TERM BOND FUND |
| MARYLAND COLLEGE INVESTMENT PLAN |
| 6.65 |
|
| PORTFOLIO 2021 |
|
|
|
| T ROWE PRICE FUND ACCOUNTING |
|
|
|
|
|
|
|
|
| SPECTRUM INCOME FUND |
| 6.56 |
|
| T. ROWE PRICE ASSOCIATES |
|
|
|
| ATTN: FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 18.26 |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| T ROWE PRICE SERVICES INC FBO |
| 7.98 |
|
| MARYLAND COLLEGE INVESTMENT PLAN |
|
|
|
| PORTFOLIO FOR EDUCATION TODAY |
|
|
SHORT-TERM BOND FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 25.25(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 5.33 |
|
|
|
|
|
|
| SAXON & CO. |
| 8.35 |
|
| VI OMNIBUS ACCOUNT VICA |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 9.27 |
|
| OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| WELLS FARGO BANK NA FBO |
| 36.39(a) |
|
| VSP EXECUTIVE DC TRUST |
|
|
SHORT-TERM BOND FUND—I CLASS |
| EDWARD D JONES & CO |
| 10.98 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 37.46(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT 4TH FL |
|
|
|
|
|
|
|
|
| T ROWE PRICE PROGRAM FOR |
| 6.97 |
|
| CHARITABLE GIVING GIFT |
|
|
|
| PRESERVATION POOL |
|
|
|
| ATTN FUND ACCOUNTING |
|
|
|
| 4515 PAINTERS MILL RD |
|
|
|
| OWINGS MILLS MD 21117-4903 |
|
|
|
|
|
|
|
|
| WELLS FARGO BANK NA FBO |
| 7.17 |
|
| OMNIBUS CASH/CASH ACCT |
|
|
185
FUND |
| SHAREHOLDER |
| % |
SHORT-TERM FUND |
| JPMORGAN CHASE BANK AS AGENT |
| 49.67(a) |
|
| FOR INSTITUTIONAL FUNDS |
|
|
|
| ATTN AMANDA MORLEY |
|
|
|
| 500 STANTON CHRISTIANA RD |
|
|
|
| OPS 4 FL 3 |
|
|
|
| NEWARK DE 19713-2105 |
|
|
|
|
|
|
|
|
| STATE STREET BANK & TRUST CO AGENT |
| 49.98(a) |
|
| FOR T ROWE INSTITUTIONAL FUNDS |
|
|
SMALL-CAP INDEX FUND |
| T ROWE PRICE ASSOCIATES |
| 100.00(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
SMALL-CAP INDEX FUND—I CLASS |
| T ROWE PRICE ASSOCIATES |
| 100.00(c) |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
SMALL-CAP STOCK FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 6.44 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 5.95 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO INC |
| 5.79 |
|
| T R P O T C FUND |
|
|
|
| ATTN R P S CONTROL DEPT |
|
|
SMALL-CAP STOCK FUND—ADVISOR CLASS |
| CHARLES SCHWAB & CO INC |
| 9.70 |
|
| SPECIAL CUSTODY A/C FBO CUSTOMERS |
|
|
|
| ATTN MUTUAL FUNDS |
|
|
|
|
|
|
|
|
| JOHN HANCOCK TRUST COMPANY LLC |
| 9.43 |
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 18.98 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RELIANCE TRUST COMPANY FBO |
| 7.35 |
|
| MASSMUTUAL REGISTERED PRODUCT |
|
|
|
|
|
|
|
|
| VANGUARD FIDUCIARY TRUST CO |
| 12.00 |
|
| T ROWE PRICE ADVISOR CLASS FUNDS |
|
|
|
| ATTN OUTSIDE FUNDS |
|
|
|
| P O BOX 2900 VM 613 |
|
|
|
| VALLEY FORGE PA 19482-2900 |
|
|
|
|
|
|
|
|
| WELLS FARGO BANK FBO |
| 6.89 |
|
| FBO VARIOUS RETIREMENT PLANS |
|
|
186
FUND |
| SHAREHOLDER |
| % |
SMALL-CAP STOCK FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 9.03 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 13.89 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 6.91 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 5.19 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 6.25 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
SMALL-CAP VALUE FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 7.08 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RAYMOND JAMES |
| 9.81 |
|
| OMNIBUS FOR MUTUAL FUNDS |
|
|
|
| HOUSE ACCT FIRM |
|
|
|
| ATTN COURTNEY WALLER |
|
|
|
|
|
|
|
|
| RETIREMENT PORTFOLIO 2030 |
| 5.31 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
SMALL-CAP VALUE FUND—ADVISOR CLASS |
| NATIONAL FINANCIAL SERVICES LLC |
| 44.81(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 12.33 |
|
|
|
|
|
|
| RAYMOND JAMES |
| 5.42 |
|
| OMNIBUS FOR MUTUAL FUNDS |
|
|
|
| HOUSE ACCT FIRM |
|
|
|
| ATTN COURTNEY WALLER |
|
|
|
|
|
|
|
|
| WTRISC CO IRA OMNIBUS ACCT |
| 8.79 |
|
| C/O ICMA RETIREMENT CORPORATION |
|
|
187
FUND |
| SHAREHOLDER |
| % |
SMALL-CAP VALUE FUND—I CLASS |
| EDWARD D JONES & CO |
| 18.93 |
|
| FOR THE BENEFIT OF CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 6.98 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN: MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| RETIREMENT I 2030 FUND |
| 6.80 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2035 FUND |
| 5.16 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
|
|
|
|
|
|
| RETIREMENT I 2040 FUND |
| 6.13 |
|
| T ROWE PRICE ASSOCIATES |
|
|
|
| ATTN FUND ACCOUNTING DEPT |
|
|
SPECTRUM CONSERVATIVE ALLOCATION FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 9.83 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| TD AMERITRADE INC FBO |
| 5.68 |
|
| OUR CUSTOMERS |
|
|
SPECTRUM CONSERVATIVE ALLOCATION FUND— |
| NATIONAL FINANCIAL SERVICES LLC |
| 55.61(a) |
I CLASS |
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
SPECTRUM INCOME FUND |
| MARYLAND COLLEGE INVESTMENT PLAN |
| 6.48 |
|
| PORTFOLIO 2024 |
|
|
|
| ATTN FUND ACCOUNTING |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO INC |
| 6.20 |
|
| ATTN: TRPS INST CONTROL DEPT |
|
|
SPECTRUM INTERNATIONAL FUND |
| CHARLES SCHWAB & CO INC |
| 7.52 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
SPECTRUM MODERATE ALLOCATION FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 11.28 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| T ROWE PRICE TRUST CO TR |
| 7.90 |
|
| BALANCED |
|
|
|
| ATTN ASSET RECONCILIATION |
|
|
188
FUND |
| SHAREHOLDER |
| % |
SPECTRUM MODERATE ALLOCATION FUND—I CLASS |
| CHARLES SCHWAB & CO INC |
| 17.18 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 23.44 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
SPECTRUM MODERATE GROWTH ALLOCATION FUND |
| CHARLES SCHWAB & CO |
| 21.93 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 9.64 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONWIDE TRUST COMPANY FSB |
| 5.86 |
|
| C/O IPO PORTFOLIO ACCOUNTING |
|
|
SPECTRUM MODERATE GROWTH ALLOCATION FUND— |
| CHARLES SCHWAB & CO INC |
| 15.27 |
I CLASS |
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 22.62 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
| ATTN:MUTUAL FUNDS DEPT, 4TH FLOOR |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 6.35 |
SUMMIT MUNICIPAL INCOME FUND |
| NATIONAL FINANCIAL SERVICES LLC |
| 31.03(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| RAYMOND JAMES |
| 9.90 |
|
| OMNIBUS FOR MUTUAL FUNDS |
|
|
|
| HOUSE ACCT FIRM |
|
|
|
| ATTN COURTNEY WALLER |
|
|
|
|
|
|
|
|
| SAXON & CO. |
| 11.54 |
|
|
|
|
|
|
| WELLS FARGO CLEARING SERVICES LLC |
| 15.17 |
|
| SPECIAL CUSTODY ACCT FOR THE |
|
|
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
189
FUND |
| SHAREHOLDER |
| % |
SUMMIT MUNICIPAL INCOME FUND—ADVISOR CLASS |
| LPL FINANCIAL |
| 13.07 |
|
| OMNIBUS CUSTOMER ACCOUNT |
|
|
|
| ATTN: MUTUAL FUND TRADING |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 38.26(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 33.46(a) |
|
|
|
|
|
|
| RAYMOND JAMES |
| 11.05 |
|
| OMNIBUS FOR MUTUAL FUNDS |
|
|
|
| HOUSE ACCT FIRM |
|
|
|
| ATTN COURTNEY WALLER |
|
|
SUMMIT MUNICIPAL INTERMEDIATE FUND |
| CHARLES SCHWAB & CO INC |
| 7.77 |
|
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| LPL FINANCIAL |
| 7.58 |
|
| OMNIBUS CUSTOMER ACCOUNT |
|
|
|
| ATTN: MUTUAL FUND TRADING |
|
|
|
|
|
|
|
|
| MLPF&S FOR THE SOLE BENEFIT OF |
| 5.99 |
|
| ITS CUSTOMERS |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 7.33 |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| SAXON & CO. |
| 8.27 |
|
|
|
|
|
|
| T ROWE PRICE ASSOCIATES |
| 7.42 |
|
| ATTN FINANCIAL REPORTING DEPT |
|
|
|
|
|
|
|
|
| WELLS FARGO CLEARING SERVICES LLC |
| 29.57(a) |
|
| SPECIAL CUSTODY ACCT FOR THE |
|
|
|
| EXCLUSIVE BENEFIT OF CUSTOMERS |
|
|
SUMMIT MUNICIPAL INTERMEDIATE FUND—ADVISOR |
| CHARLES SCHWAB & CO INC |
| 24.77 |
CLASS |
| REINVEST ACCOUNT |
|
|
|
| ATTN MUTUAL FUND DEPT |
|
|
|
|
|
|
|
|
| CITBANCO A PARTNERSHIP |
| 28.95(a) |
|
| DRAWER 1227 |
|
|
|
|
|
|
|
|
| NATIONAL FINANCIAL SERVICES LLC |
| 26.30(a) |
|
| FOR THE EXCLUSIVE BENEFIT |
|
|
|
| OF OUR CUSTOMERS |
|
|
|
|
|
|
|
|
| PERSHING LLC |
| 14.36 |
190