T. Rowe Price Health Sciences Fund to reopen to new investors

TheShadow

https://www.sec.gov/Archives/edgar/data/918294/000091829416000073/hsfhsihsphsvstatsticke-20162.htm

497 1 hsfhsihsphsvstatsticke-20162.htm

T. Rowe Price Health Sciences Fund

T. Rowe Price Health Sciences Fund—I Class

T. Rowe Price Health Sciences Portfolio

T. Rowe Price Health Sciences Portfolio—II


Supplement to Prospectuses Dated May 1, 2016

Effective September 1, 2016, the T. Rowe Price Health Sciences Fund, T. Rowe Price Health Sciences Fund—I Class, T. Rowe Price Health Sciences Portfolio, and T. Rowe Price Health Sciences Portfolio—II (Funds) will resume accepting new accounts and purchases from most new direct investors. The Funds were closed to new investors on June 1, 2015, due to significant purchases and asset growth, which created challenges for the portfolio manager to invest fully in the health sciences industry. Given changed market conditions, the Funds’ investment adviser and Boards of Directors concluded it was in the shareholders’ best interests to reopen the Funds to new accounts.

Accordingly, effective September 1, 2016, the first sentence under “Purchase and Sale of Fund Shares” in Section 1, and the first four paragraphs under “More Information About the Fund and Its Investment Risks” in Section 3, are deleted in their entirety from each prospectus.

Financial intermediaries, insurance companies, and other institutional clients should contact T. Rowe Price Financial Institution Services or their relationship manager to determine eligibility to open new accounts and purchase shares of the Funds.


The date of this supplement is August 10, 2016.

rforno

That didn't take long.

(I hold PRHSX and have been mulling reducing my position recently due to the management turnover in recent years.)

Ted

@rforno & MFO Members: PRHSX is the Linkster favorite health care fund. Although, it along with other health care funds have hit a speed bump in the last year, I believe it's long-term performance is still outstanding. I'm of the opinion, as I have stated on this board, that everyone should own a health care fund.
Regards,
Ted

rforno

@Ted, yes it's long term performance is excellent. But that was under (I think) mainly Kris Jenner who moved on and got replaced by another manager ... who then moved on and was replaced by the current person. So I'm not dumping the fund and still very much like it -- but potentially reducing my position relative to other funds I hold isn't out of the cards for my own reasons.

Ted

@rforno: I wouldn't reduce my position because of a new manager. I'd give Bakri at least another year to prove his medal. Like Chris Jenner Bakri background is medicine , he's an MD. I don't think Price is going to turn over it's premier fund over to someone who doesn't know what he's doing.
Regards,
Ted

rforno

@Ted, fair points. We'll see ... I'm certainly in no rush to do anything, that's for sure.

JoJo26

Down 10% over the last year, need to get those assets back to pay the bills. The market moving against you does not mean there is more capacity.

Sven

@Ted, Agree with your assessment that TRP tends to pick solid managers. Vanguard Health Care fund also been successful in transitioning a new manager since Ed Owens retired since 2012. This sector has been trailing S&P index, but over longer time period it has been very rewarding.

JohnChisum

Good news. This fund is a real diamond.