T. Rowe Price New Income Fund

The T. Rowe Price New Income Fund (PRCIX) is an actively managed open-end mutual fund launched in August 1973 and domiciled in the United States, classified within the Intermediate Core Bond Morningstar category. The fund seeks to maximize total return through income and capital appreciation by investing at least 80% of its net assets in income-producing debt securities, including U.S. government and agency obligations, mortgage- and asset-backed securities, corporate bonds, foreign bonds, and Treasury Inflation-Protected Securities (TIPS). With total assets of approximately $16.65 billion, a weighted average maturity of 8.67 years, and a net expense ratio of 0.44%, the fund offers broad diversification across more than 400 issuers, with approximately 89% of its portfolio allocated to U.S. bonds. Managed by T. Rowe Price Associates, Inc. — a leading global asset management firm headquartered in Baltimore, Maryland, with over $1.83 trillion in client assets under management — PRCIX is co-managed by Christopher Brown, Anna Dreyer, and Carolyn Roby, and is available to U.S. investors with a minimum initial investment of $2,500.