While multiyear gains for large-cap growth stocks were fueled in part by innovation and earnings growth, a highly accommodative Federal Reserve and strong investor sentiment propelled segments of the market to extreme valuations. To date in 2022, many growth stocks have undergone a sharp correction driven by rising interest rates, inflation, and the Russian invasion of Ukraine.
T. Rowe Price has been investing in growth stocks since 1950, and our total large-cap growth equity assets under management exceed USD 343 billion (as of March 31, 2022).1 Our extensive U.S. small-/mid-cap and non-U.S. research and portfolio management resources further complement our large-cap growth investing activities. Our experience shows that companies positioned to exploit change are among the most durable growth investments.
Taymour Tamaddon’s investment experience began in 2003, and he has been with T. Rowe Price since 2004. Prior to this, Taymour was employed by Amazon.com in the areas of finance and merchandising and was previously employed by Booz Allen Hamilton as a consultant. Taymour earned a B.S., cum laude, in applied physics from Cornell University and an M.B.A. from Dartmouth College, Tuck School of Business, where he was an Edward Tuck Scholar with high distinction.
In this Q&A, Taymour discusses the current environment for large-cap growth stocks, his outlook for the asset class, and how he is positioning the portfolio in response.
This post was funded by T. Rowe Price
For professional clients only. Not for further distribution.
This material is being furnished for general informational purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, and prospective investors are recommended to seek independent legal, financial and tax advice before making any investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc. and/or its affiliates receive revenue from T. Rowe Price investment products and services. Past performance is not a reliable indicator of future performance. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested.
The material does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The material has not been reviewed by any regulatory authority in any jurisdiction.
Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources’ accuracy or completeness. There is no guarantee that any forecasts made will come to pass. The views contained herein are as of the date noted on the material and are subject to change without notice; these views may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price.
The material is not intended for use by persons in jurisdictions which prohibit or restrict the distribution of the material and in certain countries the material is provided upon specific request.
It is not intended for distribution to retail investors in any jurisdiction.
This material is issued and approved by T. Rowe Price International Ltd, 60 Queen Victoria Street, London, EC4N 4TZ which is authorised and regulated by the UK Financial Conduct Authority. For Professional Clients only.
© 2022 T. Rowe Price. All rights reserved. T. ROWE PRICE, INVEST WITH CONFIDENCE, and the bighorn sheep design are, collectively and/or apart, trademarks or registered trademarks of T. Rowe Price Group, Inc.