T. Rowe Price Real Estate Advisor

Ticker: PAREX


Investment Objective
The fund seeks to provide long-term growth through a combination of capital appreciation and current income.

Investment Strategy
The fund will normally invest at least 80% of net assets in the equity securities of real estate companies. The definition of real estate companies is broad and includes those that derive at least 50% of revenues or profits from, or commit at least 50% of assets to, real estate activities. Up to 20% of fund assets may be invested in companies deriving a substantial portion of revenues or profits from servicing real estate firms, as well as in companies unrelated to the real estate business.

 Morningstar Category
 Real Estate

 Morningstar Style Box

CUSIP: 779919208
General Information
Expense Ratio: 1.02%
Inception Date: 12/31/2004
Fund Manager: David M. Lee
Managed Fund Since:
Fund Phone Number: 800-638-5660
Fund Website: www.troweprice.com
Top 5 Holdings (as of 09/30/2009)
Simon Property Group, Inc.  8.63%
Vornado Realty Trust  5.19%
AvalonBay Communities, Inc.  3.84%
Equity Residential  3.71%
SL Green Realty Corporation  3.62%

Be aware that there are significant differences in risk among investment asset classes. Refer to the investment pyramid for a complete listing of disclosures. Shares of a mutual fund will fluctuate so that, when redeemed, they may be worth more or less than their original cost. Refer to the fund’s prospectus for complete information on the risks and expenses involved with a particular investment. Please note that some fund companies may waive a portion of these expenses.

There are special risk factors associated with REITS, such as interest rate risk and the illiquidity of the real estate market. Shares, when redeemed, may be worth more or less than the original amount invested.

The program(s) include certain services provided by Lincoln Financial Advisors Corp. (LFA), a broker-dealer (member FINRA) and an affiliate of Lincoln Financial Group, 1300 S. Clinton St., Fort Wayne, IN 46802. Unaffiliated broker-dealers also may provide services to customers.

This information must be preceded or accompanied by prospectuses for the funds listed. The most current information on a specific mutual fund, including risk, fees and expenses can be viewed online at www.LincolnAlliance.com. Paper copies of prospectuses can be requested by calling 800-234-3500. Read the prospectus carefully before investing.

The Morningstar® category is assigned based on the underlying securities in each portfolio as measured by the portfolio statistics and compositions over the past three years.

The Morningstar Style BoxTM provides a graphical representation of the investment style of stocks and mutual funds. For stocks and stock funds, it classifies securities according to market capitalization (the vertical axis) and growth and value factors (the horizontal axis). Fixed income funds are classified according to credit quality (the vertical axis) and sensitivity to changes in interest rates (the horizontal axis).

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The mutual fund information is compiled by NewRiver, Inc., from documents filed with the Securities & Exchange Commission’s EDGAR database. The information is provided on an ‘as is’ basis and without warranties.