T. Rowe Price Financial Services Fund
TFIFX
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
FRC
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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
- Nov 29, 2016
- CIK
- 0001019286
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price Financial Services Fund (I Class) (TFIFX) is an open-end mutual fund that seeks long-term growth of capital and a modest level of income by investing at least 80% of its net assets in common stocks of financial services companies; it may also invest in companies deriving at least 50% of revenues from the sector, including regional and money-center banks, insurance companies, home/auto/specialty finance firms, securities brokerage and electronic trading networks, investment management firms, publicly traded government-sponsored financial enterprises, thrift/savings banks, financial conglomerates, foreign financial services companies, electronic transaction processors, real estate companies, and securities exchanges. Security selection employs fundamental bottom-up analysis to identify high-quality companies with strong appreciation potential, utilizing both growth and value approaches without market capitalization restrictions; many holdings pay dividends, with flexibility for foreign stocks, convertible securities, and nonfinancial common stocks. The fund, domiciled in the United States and managed by T. Rowe Price Associates, Inc. (Baltimore, Maryland headquarters), concentrates more than 25% of assets in financial services (approximately 90% allocation), with top holdings including Bank of America Corp., Mastercard Inc., Visa Inc., and Citigroup Inc.; it targets institutional investors with a $500,000 minimum initial investment. Recent developments include a benchmark change effective May 1, 2024, to the MSCI US IMI/Financials 5% Capped Index from the Russell 3000 Financial Index; portfolio manager updates with Gregory Locraft joining in September 2024 alongside lead manager Matthew J. Snowling (chair since 2021); and a contractual expense limitation for I Class through February 28, 2027, limiting operating expenses excluding certain items to 0.05% (net expense ratio 0.78%). The fund maintains an annual dividend payout policy, with 2024 distributions declared in December, and reported total net assets exceeding $1.9 billion as of mid-2025 amid a portfolio turnover rate of approximately 47%. It operates within T. Rowe Price's broader offerings, available primarily to U.S. investors through direct or intermediary channels, with no reported acquisitions, funding rounds, or major strategic shifts specific to the fund in the last 1-2 years.