Fund Description

The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities, with qualifying derivatives counted toward this policy. It invests primarily in a mix of other T. Rowe Price equity funds (underlying funds) that focus on various areas of the overall stock markets, broadly diversifying among underlying funds representing specific market segments, typically through a range of U.S. equity funds and, from time to time, a money market fund. It may also invest in individual securities on a limited basis. Holdings focus on U.S. stocks across growth and value styles and small-, mid-, and large-cap companies. The adviser allocates among underlying funds and asset classes based on outlook and relative valuations and periodically adjusts the mix.