T. Rowe Price Financial Services Fund
PRISX
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- T. Rowe Price Financial Services Fund (PRISX) is an open-end mutual fund that seeks long-term capital growth and income by investing at least 80% of its net assets in common stocks of financial services companies; these include banks such as JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co., and Citigroup Inc., diversified financials like Visa Inc. Class A and Mastercard Inc. Class A, insurance firms including Chubb Ltd., asset managers and brokerages such as Charles Schwab Corp. and Berkshire Hathaway Inc. Class B, and insurance brokers like Marsh & McLennan Companies Inc.. The fund follows a large value investment style within the financial sector category, with approximately 91% allocated to U.S. stocks, 6% to non-U.S. stocks, and the remainder in cash and other assets; it maintains a portfolio turnover of around 30-47%, a net expense ratio of 0.93%, and total assets under management exceeding $2 billion as of late 2025.. Inception date of September 30, 1996, the fund is managed by T. Rowe Price Group, Inc., headquartered in Baltimore, Maryland, and operates primarily for individual and institutional investors in the United States with a minimum initial investment of $2,500.. In recent developments, the fund changed its benchmark effective May 1, 2024, from the Russell 3000 Financial Index to the MSCI US IMI/Financials 5% Capped Index to better reflect its investable universe. T. Rowe Price Group, the fund's sponsor, expanded its offerings in November 2025 with the launch of four new active fixed income ETFs, including the T. Rowe Price Short Municipal Income ETF (TMNS), Long Municipal Income ETF (TMNL), High Income Municipal ETF (THYM), and Multi-Sector Income ETF (TMSF), enhancing its broader lineup of 28 active ETFs focused on tax efficiency and active management. Additionally, portfolio management saw Gregory Locraft join as co-manager starting September 1, 2024, alongside Matt Snowling, reflecting ongoing enhancements to the team's expertise.