T. Rowe Price Institutional Mid-Cap Equity Growth Fund

This fund typically allocates at least 80% of its assets, including any capital borrowed for investment, to a varied portfolio of common shares. These shares belong to mid-sized companies that T. Rowe Price forecasts will achieve earnings growth exceeding that of the average firm. The advisor defines these "mid-cap" entities by their market capitalization, which is determined by multiplying outstanding shares by their price. This market value must fall within the boundaries set by either the S&P MidCap 400® Index or the Russell Midcap® Growth Index.