T. Rowe Price New Era Fund
PRNEX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 East Pratt Street Baltimore MD United States of America 21202
- IPO Date
- Jan 2, 1980
- CIK
- 0000216907
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price New Era Fund (PRNEX) is an open-end mutual fund that seeks long-term capital growth primarily through investments in common stocks of companies engaged in owning, developing, or supplying natural resources and basic commodities, including energy, basic materials, industrials, and utilities; it also allocates to selected non-resource growth companies. The fund maintains a diversified portfolio with approximately 58% in U.S. stocks and 39% in non-U.S. stocks, emphasizing mid-cap value stocks in the natural resources sector, with top holdings such as Shell PLC, Chevron Corp, Exxon Mobil Corp, and ConocoPhillips; sector allocations include 60% energy, 26% basic materials, and smaller exposures to utilities and industrials. Managed by T. Rowe Price Associates, Inc., headquartered in Baltimore, Maryland, the fund was launched on January 20, 1969, and as of recent data holds total net assets of about $2.47 billion with a net expense ratio of 0.77%, available primarily to U.S. investors through daily pricing and minimum initial investments starting at $2,500. The fund invests at least two-thirds of its assets in natural resource companies positioned to benefit from inflation-driven earnings and asset growth, employing active management under portfolio managers Shinwoo Kim (since June 2021) and Richard de los Reyes (since June 2024). Geographic diversification spans the United States (58%), Canada (18%), Eurozone (11%), United Kingdom (5%), and Australasia, targeting institutional and retail investors seeking exposure to commodity-linked equities amid varying market cycles. T. Rowe Price Group, Inc., the fund's sponsor, operates globally with over $1.7 trillion in assets under management as of Q3 2025. Recent developments at T. Rowe Price include the January 2025 acquisition of Oak Hill Advisors for $7.5 billion to bolster private credit capabilities, enhancing alternative investment offerings that complement equity strategies like PRNEX; a February 2025 strategic partnership with Oak Hill Advisors and Aspida to manage public and private assets for insurance solutions; and robust growth in the firm's ETF business, reaching $19 billion in assets under management by Q3 2025 with nearly $2 billion in quarterly inflows. These moves support T. Rowe Price's expansion into multi-asset solutions, active ETFs, and private markets, announced alongside Q2 and Q3 2025 earnings reflecting net outflows but record AUM highs. No fund-specific portfolio or strategy changes for PRNEX were reported in the last 1-2 years, maintaining its core natural resources focus.