T. Rowe Price Capital Appreciation Fund Advisor Class

Frequently Asked Questions About PACLX

What does PACLX invest in?

The fund's core objective is to generate substantial capital growth over an extended period. Typically, it dedicates at least half of its overall portfolio to equity holdings. The remaining assets are generally invested in a variety of debt obligations, including corporate and government bonds (such as those backed by mortgages and other assets), as well as bank loans, which represent a share in the amounts borrowed by an entity from a consortium of lenders. The fund is also permitted to allocate up to 25% of its total assets to international securities.

What is the expense ratio of PACLX?

T. Rowe Price Capital Appreciation Fund Advisor Class (PACLX) charges an expense ratio of 0.98%. This is the annual fee deducted from fund assets to cover management and operations.

How big is PACLX?

T. Rowe Price Capital Appreciation Fund Advisor Class (PACLX) manages $39.46B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is PACLX actively managed or an index fund?

PACLX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (PACLX's is 0.98%) in exchange for the discretion to over- or under-weight positions.

When was PACLX launched?

T. Rowe Price Capital Appreciation Fund Advisor Class (PACLX) launched in December 2004 and is managed by T. Rowe Price.

How has PACLX performed?

PACLX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.