T. Rowe Price Spectrum Moderate Growth Allocation Fund TRSGX Strategy

The investment seeks the highest total return over time consistent with a primary emphasis on capital growth and a secondary emphasis on income. The fund invests in a diversified portfolio typically consisting of approximately 80% of its net assets in stocks; 16% of its net assets in bonds, money market securities, and cash reserves; and 4% of its net assets in alternative investments. Under normal conditions, the fund’s allocation to the broad asset classes are within the following ranges, each as a percentage of the fund’s net assets: stocks (70-90%); bonds, money markets securities, and cash reserves (5-25%); and alternative investments (0-10%).