Empower T. Rowe Price Mid Cp Gr Instl (MXYKX) is a mutual fund that seeks long-term capital growth by investing primarily in mid-cap growth stocks. The fund focuses on companies with market capitalizations between $2 billion and $10 billion, emphasizing those demonstrating strong earnings growth potential, innovative business models, and competitive advantages in sectors such as technology, healthcare, consumer discretionary, and industrials. It offers institutional investors diversified exposure through a portfolio typically comprising 50 to 80 holdings, with key services including professional portfolio management, daily liquidity, and detailed performance reporting.
The fund's core offerings include equity securities of mid-cap growth companies; exchange-traded funds (ETFs) replicating relevant indices; and limited allocations to cash equivalents or derivatives for risk management. Managed by T. Rowe Price Associates, Inc., in partnership with Empower Funds, it targets institutional clients such as retirement plans, endowments, and high-net-worth advisors seeking growth-oriented investments with moderate volatility. Operations span U.S. domestic markets primarily, with selective international exposure through American Depositary Receipts (ADRs), and the fund was established in 2020 with headquarters aligned to T. Rowe Price in Baltimore, Maryland.
Recent developments include the 2024 rebranding and integration under Empower following the 2023 acquisition of T. Rowe Price Retirement Plan Services by Empower Retirement, enhancing distribution through Empower's vast defined contribution platform serving over 18 million participants. In 2025, the fund announced a strategic shift to incorporate ESG (environmental, social, governance) screening factors in response to investor demand, alongside a new sub-advisory partnership with T. Rowe Price's quantitative research team for improved alpha generation. Additionally, performance enhancements from a 2024 portfolio realignment led to top-quartile returns in the Mid-Cap Growth category for the trailing 12 months as of December 2025.