0001012968-18-000015.txt : 20180515 0001012968-18-000015.hdr.sgml : 20180515 20180515091629 ACCESSION NUMBER: 0001012968-18-000015 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 31 FILED AS OF DATE: 20180515 DATE AS OF CHANGE: 20180515 EFFECTIVENESS DATE: 20180515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price Institutional Equity Funds, Inc. CENTRAL INDEX KEY: 0001012968 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-04753 FILM NUMBER: 18833483 BUSINESS ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-345-2000 MAIL ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: T ROWE PRICE INSTITUTIONAL EQUITY FUNDS INC DATE OF NAME CHANGE: 20011105 FORMER COMPANY: FORMER CONFORMED NAME: INSTITUTIONAL DOMESTIC EQUITY FUNDS INC DATE OF NAME CHANGE: 19960428 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price Institutional Equity Funds, Inc. CENTRAL INDEX KEY: 0001012968 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07639 FILM NUMBER: 18833484 BUSINESS ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-345-2000 MAIL ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: T ROWE PRICE INSTITUTIONAL EQUITY FUNDS INC DATE OF NAME CHANGE: 20011105 FORMER COMPANY: FORMER CONFORMED NAME: INSTITUTIONAL DOMESTIC EQUITY FUNDS INC DATE OF NAME CHANGE: 19960428 0001012968 S000002092 T. Rowe Price Institutional Mid-Cap Equity Growth Fund C000005460 T. Rowe Price Institutional Mid-Cap Equity Growth Fund PMEGX 0001012968 S000002093 T. Rowe Price Institutional Large-Cap Value Fund C000005461 T. Rowe Price Institutional Large-Cap Value Fund TILCX 0001012968 S000002094 T. Rowe Price Institutional Small-Cap Stock Fund C000005462 T. Rowe Price Institutional Small-Cap Stock Fund TRSSX 0001012968 S000002095 T. Rowe Price Institutional Large-Cap Growth Fund C000005463 T. Rowe Price Institutional Large-Cap Growth Fund TRLGX 0001012968 S000002096 T. Rowe Price Institutional Large-Cap Core Growth Fund C000005464 T. Rowe Price Institutional Large-Cap Core Growth Fund TPLGX 0001012968 S000019417 T. Rowe Price Institutional U.S. Structured Research Fund C000053975 T. Rowe Price Institutional U.S. Structured Research Fund TRISX 485BPOS 1 iefxbrl-51201119.htm Untitled Document

Registration Nos. 333-04753/811-07639

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933  /X/

        

 Post-Effective Amendment No. 43      /X/

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 /X/

 Amendment No. 43        /X/

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

Exact Name of Registrant as Specified in Charter

100 East Pratt Street, Baltimore, Maryland 21202
Address of Principal Executive Offices

410-345-2000
Registrant’s Telephone Number, Including Area Code

David Oestreicher

100 East Pratt Street, Baltimore, Maryland 21202
Name and Address of Agent for Service

 It is proposed that this filing will become effective (check appropriate box):

/X/ Immediately upon filing pursuant to paragraph (b)

// On (date) pursuant to paragraph (b)

// 60 days after filing pursuant to paragraph (a)(1)

// On (date) pursuant to paragraph (a)(1)

// 75 days after filing pursuant to paragraph (a)(2)

// On (date) pursuant to paragraph (a)(2) of Rule 485

 If appropriate, check the following box:

// This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 


Page 2

EXHIBITS

  

Exhibit

Exhibit No.

XBRL Instance Document

EX-101.INS

XBRL Taxonomy Extension Schema Document

EX-101.SCH

XBRL Taxonomy Extension Calculation Linkbase Document

EX-101.CAL

XBRL Taxonomy Extension Definition Linkbase Document

EX-101.DEF

XBRL Taxonomy Extension Labels Linkbase Document

EX-101.LAB

XBRL Taxonomy Extension Presentation Linkbase Document

EX-101.PRE


Page 3

Signatures

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Baltimore, State of Maryland, this May 15, 2018.

 T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

 /s/Edward C. Bernard

By: Edward C. Bernard

 Chairman of the Board

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated:

   

Signature

Title

Date

   
   

/s/Edward C. Bernard

Chairman of the Board

May 15, 2018

Edward C. Bernard

(Chief Executive Officer)

 
   
   

/s/Catherine D. Mathews

Treasurer

May 15, 2018

Catherine D. Mathews

(Chief Financial Officer)

 
 

and Vice President

 
   

*

  

Teresa Bryce Bazemore

Director

May 15, 2018

   
   

*

  

Ronald J. Daniels

Director

May 15, 2018

   
   

*

  

Bruce W. Duncan

Director

May 15, 2018

   
   

*

  

Robert J. Gerrard, Jr.

Director

May 15, 2018

   
   

*

  

Paul F. McBride

Director

May 15, 2018

   
   

*

  

Cecilia E. Rouse

Director

May 15, 2018

   
   

*

  

John G. Schreiber

Director

May 15, 2018

   
   


Page 4

   
   

/s/Robert W. Sharps

Director and President

May 15, 2018

Robert W. Sharps

  
   
   

*

  

Mark. R. Tercek

Director

May 15, 2018

   
   

*/s/David Oestreicher

Vice President and

May 15, 2018

David Oestreicher

Attorney-In-Fact

 


Page 5

T. ROWE PRICE BALANCED FUND, INC.

T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.

T. ROWE PRICE CALIFORNIA TAX-FREE INCOME TRUST

T. ROWE PRICE CAPITAL APPRECIATION FUND

T. ROWE PRICE CAPITAL APPRECIATION FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION & INCOME FUND, INC.

T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.

T. ROWE PRICE CORPORATE INCOME FUND, INC.

T. ROWE PRICE CREDIT OPPORTUNITIES FUND, INC.

T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVIDEND GROWTH FUND, INC.

T. ROWE PRICE EQUITY INCOME FUND

T. ROWE PRICE EQUITY INCOME FUND, INC.

T. ROWE PRICE EQUITY SERIES, INC.

T. ROWE PRICE FINANCIAL SERVICES FUND, INC.

T. ROWE PRICE FIXED INCOME SERIES, INC.

T. ROWE PRICE FLOATING RATE FUND, INC.

T. ROWE PRICE GLOBAL ALLOCATION FUND, INC.

T. ROWE PRICE GLOBAL MULTI-SECTOR BOND FUND, INC.

T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.

T. ROWE PRICE GNMA FUND

T. ROWE PRICE GNMA FUND, INC.

T. ROWE PRICE GOVERNMENT MONEY FUND, INC.

T. ROWE PRICE GROWTH & INCOME FUND, INC.

T. ROWE PRICE GROWTH STOCK FUND, INC.

T. ROWE PRICE HEALTH SCIENCES FUND, INC.

T. ROWE PRICE HIGH YIELD FUND, INC.

T. ROWE PRICE INDEX TRUST, INC.

T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC.

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERMEDIATE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.

T. ROWE PRICE INTERNATIONAL SERIES, INC.

T. ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND, INC.

T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.

T. ROWE PRICE MID-CAP GROWTH FUND, INC.

T. ROWE PRICE MID-CAP VALUE FUND, INC.

T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC.

T. ROWE PRICE MULTI-STRATEGY TOTAL RETURN FUND, INC.

T. ROWE PRICE NEW AMERICA GROWTH FUND

T. ROWE PRICE NEW AMERICA GROWTH FUND, INC.
T. ROWE PRICE NEW ERA FUND, INC.

T. ROWE PRICE NEW HORIZONS FUND, INC.

T. ROWE PRICE NEW INCOME FUND, INC.

T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.

T. ROWE PRICE QUANTITATIVE MANAGEMENT FUNDS, INC.


Page 6

T. ROWE PRICE REAL ASSETS FUND, INC.

T. ROWE PRICE REAL ESTATE FUND, INC.

T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC.

T. ROWE PRICE RETIREMENT FUNDS, INC.

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.

T. ROWE PRICE SHORT-TERM BOND FUND, INC.

T. ROWE PRICE SMALL-CAP STOCK FUND, INC.

T. ROWE PRICE SMALL-CAP VALUE FUND, INC.

T. ROWE PRICE SPECTRUM FUND, INC.

T. ROWE PRICE STATE TAX-FREE INCOME TRUST

T. ROWE PRICE STATE TAX-FREE FUNDS, INC.

T. ROWE PRICE SUMMIT FUNDS, INC.

T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.

T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.

T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC.

T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE TAX-FREE INCOME FUND, INC.

T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC.

T. ROWE PRICE TOTAL RETURN FUND, INC.

T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC.

T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.

T. ROWE PRICE U.S. TREASURY FUNDS, INC.

T. ROWE PRICE VALUE FUND, INC.

POWER OF ATTORNEY

 RESOLVED, that the Corporation does hereby constitute and authorize Edward C. Bernard, Margery K. Neale, and David Oestreicher, and each of them individually, their true and lawful attorneys and agents to take any and all action and execute any and all instruments which said attorneys and agents may deem necessary or advisable to enable the Corporation/Trust to comply with the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, and any rules, regulations, orders or other requirements of the United States Securities and Exchange Commission thereunder, in connection with the registration under the Securities Act of 1933, as amended, of shares of the Corporation/Trust, to be offered by the Corporation/Trust, and the registration of the Corporation/Trust under the Investment Company Act of 1940, as amended, including specifically, but without limitation of the foregoing, power and authority to sign the name of the Corporation/Trust on its behalf, and to sign the names of each of such directors/trustees and officers on his or her behalf as such director/trustee or officer to any (i) Registration Statement on Form N-1A or N-14 of the Corporation/Trust filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended; (ii) Registration Statement on Form N-1A or N-14 of the Corporation/Trust under the Investment Company Act of 1940, as amended; (iii) amendment or supplement (including, but not limited to, Post-Effective Amendments adding additional series or classes of the Corporation/Trust) to said Registration Statement; and (iv) instruments or documents filed or to be filed as a part of or in connection with such Registration Statement, including Articles Supplementary, Articles of Amendment, and other instruments with respect to the Articles of Incorporation or Master Trust Agreement of the Corporation/Trust.

 IN WITNESS WHEREOF, the above named Corporations/Trusts have caused these presents to be signed and the same attested by its Secretary, each thereunto duly authorized by its Board of Directors/Trustees, and each of the undersigned has hereunto set his or her hand and seal as of the day set opposite his or her name.


Page 7

   

ALL CORPORATIONS/TRUSTS

/s/Edward C. Bernard

  

Edward C. Bernard

/s/Catherine D. Mathews

Chairman of the Board (Principal Executive Officer)

Director/Trustee

April 27, 2017

Catherine D. Mathews

/s/Anthony W. Deering

Treasurer (Principal Financial Officer)

Vice President

April 27, 2017

Anthony W. Deering

/s/Bruce W. Duncan

Director/Trustee

April 27, 2017

Bruce W. Duncan

/s/Robert J. Gerrard, Jr.

Director/Trustee

April 27, 2017

Robert J. Gerrard, Jr.

/s/Paul F. McBride

Director/Trustee

April 27, 2017

Paul F. McBride

/s/Cecilia E. Rouse

Director/Trustee

April 27, 2017

Cecilia E. Rouse

/s/John G. Schreiber

Director/Trustee

April 27, 2017

John G. Schreiber

/s/Mark R. Tercek

Director/Trustee

April 27, 2017

Mark R. Tercek

Director/Trustee

April 27, 2017

(Signatures Continued)


Page 8

ROBERT W. SHARPS, Director/Trustee

T. ROWE PRICE BALANCED FUND, INC.

T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION FUND

T. ROWE PRICE CAPITAL APPRECIATION FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION & INCOME FUND, INC.

T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.

T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVIDEND GROWTH FUND, INC.

T. ROWE PRICE EQUITY INCOME FUND

T. ROWE PRICE EQUITY INCOME FUND, INC.

T. ROWE PRICE EQUITY SERIES, INC.

T. ROWE PRICE FINANCIAL SERVICES FUND, INC.

T. ROWE PRICE GLOBAL ALLOCATION FUND, INC.

T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.

T. ROWE PRICE GROWTH & INCOME FUND, INC.

T. ROWE PRICE GROWTH STOCK FUND, INC.

T. ROWE PRICE HEALTH SCIENCES FUND, INC.

T. ROWE INDEX TRUST, INC.

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.

T. ROWE PRICE INTERNATIONAL SERIES, INC.

T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.

T. ROWE PRICE MID-CAP GROWTH FUND, INC.

T. ROWE PRICE MID-CAP VALUE FUND, INC.

T. ROWE PRICE MULTI-STRATEGY TOTAL RETURN FUND, INC.

T. ROWE PRICE NEW AMERICA GROWTH FUND

T. ROWE PRICE NEW AMERICA GROWTH FUND, INC.

T. ROWE PRICE NEW ERA FUND, INC.

T. ROWE PRICE NEW HORIZONS FUND, INC.

T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.

T. ROWE PRICE QUANTITATIVE MANAGEMENT FUNDS, INC.

T. ROWE PRICE REAL ASSETS FUND, INC.

T. ROWE PRICE REAL ESTATE FUND, INC.

T. ROWE PRICE RETIREMENT FUNDS, INC.

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.

T. ROWE PRICE SMALL-CAP STOCK FUND, INC.

T. ROWE PRICE SMALL-CAP VALUE FUND, INC.

T. ROWE PRICE SPECTRUM FUND, INC.

T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.

T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.

T. ROWE PRICE VALUE FUND, INC.

/s/Robert W. Sharps

   

Robert W. Sharps

 

April 27, 2017

(Signatures Continued)


Page 9

EDWARD A. WIESE, Director/Trustee


T. ROWE PRICE CALIFORNIA TAX-FREE INCOME TRUST

T. ROWE PRICE CORPORATE INCOME FUND, INC.

T. ROWE PRICE CREDIT OPPORTUNITIES FUND, INC.

T. ROWE PRICE FIXED INCOME SERIES, INC.

T. ROWE PRICE FLOATING RATE FUND, INC.

T. ROWE PRICE GLOBAL MULTI-SECTOR BOND FUND, INC.

T. ROWE PRICE GNMA FUND

T. ROWE PRICE GNMA FUND, INC.

T. ROWE PRICE GOVERNMENT MONEY FUND, INC.

T. ROWE PRICE HIGH YIELD FUND, INC.

T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC.

T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC.

T. ROWE PRICE INTERMEDIATE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND, INC.

T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC.

T. ROWE PRICE NEW INCOME FUND, INC.

T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC.

T. ROWE PRICE SHORT-TERM BOND FUND, INC.

T. ROWE PRICE STATE TAX-FREE INCOME TRUST

T. ROWE PRICE STATE TAX-FREE FUNDS, INC.

T. ROWE PRICE SUMMIT FUNDS, INC.

T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.

T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC.

T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE TAX-FREE INCOME FUND, INC.

T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC.

T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC.

T. ROWE PRICE U.S. TREASURY FUNDS, INC.

/s/Edward A. Wiese

   

Edward A. Wiese

 

April 27, 2017

(Signatures Continued)


Page 10

ATTEST:

/s/Darrell N. Braman

   

Darrell N. Braman, Secretary

  


Page 11

T. ROWE PRICE BALANCED FUND, INC.

T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION & INCOME FUND, INC.

T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.

T. ROWE PRICE CORPORATE INCOME FUND, INC.

T. ROWE PRICE CREDIT OPPORTUNITIES FUND, INC.

T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVIDEND GROWTH FUND, INC.

T. ROWE PRICE EQUITY INCOME FUND, INC.

T. ROWE PRICE EQUITY SERIES, INC.

T. ROWE PRICE FINANCIAL SERVICES FUND, INC.

T. ROWE PRICE FIXED INCOME SERIES, INC.

T. ROWE PRICE FLOATING RATE FUND, INC.

T. ROWE PRICE GLOBAL ALLOCATION FUND, INC.

T. ROWE PRICE GLOBAL MULTI-SECTOR BOND FUND, INC.

T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.

T. ROWE PRICE GNMA FUND, INC.

T. ROWE PRICE GOVERNMENT MONEY FUND, INC.

T. ROWE PRICE GROWTH & INCOME FUND, INC.

T. ROWE PRICE GROWTH STOCK FUND, INC.

T. ROWE PRICE HEALTH SCIENCES FUND, INC.

T. ROWE PRICE HIGH YIELD FUND, INC.

T. ROWE PRICE INDEX TRUST, INC.

T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC.

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERMEDIATE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.

T. ROWE PRICE INTERNATIONAL SERIES, INC.

T. ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND, INC.

T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.

T. ROWE PRICE MID-CAP GROWTH FUND, INC.

T. ROWE PRICE MID-CAP VALUE FUND, INC.

T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC.

T. ROWE PRICE MULTI-STRATEGY TOTAL RETURN FUND, INC.

T. ROWE PRICE NEW AMERICA GROWTH FUND, INC.
T. ROWE PRICE NEW ERA FUND, INC.

T. ROWE PRICE NEW HORIZONS FUND, INC.

T. ROWE PRICE NEW INCOME FUND, INC.

T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.

T. ROWE PRICE QUANTITATIVE MANAGEMENT FUNDS, INC.

T. ROWE PRICE REAL ASSETS FUND, INC.

T. ROWE PRICE REAL ESTATE FUND, INC.

T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC.

T. ROWE PRICE RETIREMENT FUNDS, INC.

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.


Page 12

T. ROWE PRICE SHORT-TERM BOND FUND, INC.

T. ROWE PRICE SMALL-CAP STOCK FUND, INC.

T. ROWE PRICE SMALL-CAP VALUE FUND, INC.

T. ROWE PRICE SPECTRUM FUND, INC.

T. ROWE PRICE STATE TAX-FREE FUNDS, INC.

T. ROWE PRICE SUMMIT FUNDS, INC.

T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.

T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.

T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC.

T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE TAX-FREE INCOME FUND, INC.

T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC.

T. ROWE PRICE TOTAL RETURN FUND, INC.

T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC.

T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.

T. ROWE PRICE U.S. TREASURY FUNDS, INC.

T. ROWE PRICE VALUE FUND, INC.

POWER OF ATTORNEY

 RESOLVED, that the Corporation does hereby constitute and authorize Edward C. Bernard, Margery K. Neale, and David Oestreicher, and each of them individually, their true and lawful attorneys and agents to take any and all action and execute any and all instruments which said attorneys and agents may deem necessary or advisable to enable the Corporation to comply with the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, and any rules, regulations, orders or other requirements of the United States Securities and Exchange Commission thereunder, in connection with the registration under the Securities Act of 1933, as amended, of shares of the Corporation, to be offered by the Corporation, and the registration of the Corporation under the Investment Company Act of 1940, as amended, including specifically, but without limitation of the foregoing, power and authority to sign the name of the Corporation on its behalf, and to sign the names of each of such directors and officers on his or her behalf as such director or officer to any (i) Registration Statement on Form N-1A or N-14 of the Corporation filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended; (ii) Registration Statement on Form N-1A or N-14 of the Corporation under the Investment Company Act of 1940, as amended; (iii) amendment or supplement (including, but not limited to, Post-Effective Amendments adding additional series or classes of the Corporation) to said Registration Statement; and (iv) instruments or documents filed or to be filed as a part of or in connection with such Registration Statement, including Articles Supplementary, Articles of Amendment, and other instruments with respect to the Articles of Incorporation of the Corporation.

 IN WITNESS WHEREOF, the above named Corporations have caused these presents to be signed and the same attested by its Secretary, each thereunto duly authorized by its Board of Directors, and the undersigned has hereunto set his or her hand and seal as of the day set opposite his or her name.

   

/s/Teresa Bryce Bazemore

  

Teresa Bryce Bazemore, Director

Date: January 1, 2018

 

ATTEST:

/s/Darrell N. Braman 

   

Darrell N. Braman, Secretary

  


Page 13

T. ROWE PRICE BALANCED FUND, INC.

T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION & INCOME FUND, INC.

T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.

T. ROWE PRICE CORPORATE INCOME FUND, INC.

T. ROWE PRICE CREDIT OPPORTUNITIES FUND, INC.

T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVIDEND GROWTH FUND, INC.

T. ROWE PRICE EQUITY INCOME FUND, INC.

T. ROWE PRICE EQUITY SERIES, INC.

T. ROWE PRICE FINANCIAL SERVICES FUND, INC.

T. ROWE PRICE FIXED INCOME SERIES, INC.

T. ROWE PRICE FLOATING RATE FUND, INC.

T. ROWE PRICE GLOBAL ALLOCATION FUND, INC.

T. ROWE PRICE GLOBAL MULTI-SECTOR BOND FUND, INC.

T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.

T. ROWE PRICE GNMA FUND, INC.

T. ROWE PRICE GOVERNMENT MONEY FUND, INC.

T. ROWE PRICE GROWTH & INCOME FUND, INC.

T. ROWE PRICE GROWTH STOCK FUND, INC.

T. ROWE PRICE HEALTH SCIENCES FUND, INC.

T. ROWE PRICE HIGH YIELD FUND, INC.

T. ROWE PRICE INDEX TRUST, INC.

T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC.

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERMEDIATE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.

T. ROWE PRICE INTERNATIONAL SERIES, INC.

T. ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND, INC.

T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.

T. ROWE PRICE MID-CAP GROWTH FUND, INC.

T. ROWE PRICE MID-CAP VALUE FUND, INC.

T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC.

T. ROWE PRICE MULTI-STRATEGY TOTAL RETURN FUND, INC.

T. ROWE PRICE NEW AMERICA GROWTH FUND, INC.
T. ROWE PRICE NEW ERA FUND, INC.

T. ROWE PRICE NEW HORIZONS FUND, INC.

T. ROWE PRICE NEW INCOME FUND, INC.

T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.

T. ROWE PRICE QUANTITATIVE MANAGEMENT FUNDS, INC.

T. ROWE PRICE REAL ASSETS FUND, INC.

T. ROWE PRICE REAL ESTATE FUND, INC.

T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC.

T. ROWE PRICE RETIREMENT FUNDS, INC.

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.


Page 14

T. ROWE PRICE SHORT-TERM BOND FUND, INC.

T. ROWE PRICE SMALL-CAP STOCK FUND, INC.

T. ROWE PRICE SMALL-CAP VALUE FUND, INC.

T. ROWE PRICE SPECTRUM FUND, INC.

T. ROWE PRICE STATE TAX-FREE FUNDS, INC.

T. ROWE PRICE SUMMIT FUNDS, INC.

T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.

T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.

T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC.

T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE TAX-FREE INCOME FUND, INC.

T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC.

T. ROWE PRICE TOTAL RETURN FUND, INC.

T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC.

T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.

T. ROWE PRICE U.S. TREASURY FUNDS, INC.

T. ROWE PRICE VALUE FUND, INC.

POWER OF ATTORNEY

 RESOLVED, that the Corporation does hereby constitute and authorize Edward C. Bernard, Margery K. Neale, and David Oestreicher, and each of them individually, their true and lawful attorneys and agents to take any and all action and execute any and all instruments which said attorneys and agents may deem necessary or advisable to enable the Corporation to comply with the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, and any rules, regulations, orders or other requirements of the United States Securities and Exchange Commission thereunder, in connection with the registration under the Securities Act of 1933, as amended, of shares of the Corporation, to be offered by the Corporation, and the registration of the Corporation under the Investment Company Act of 1940, as amended, including specifically, but without limitation of the foregoing, power and authority to sign the name of the Corporation on its behalf, and to sign the names of each of such directors and officers on his or her behalf as such director or officer to any (i) Registration Statement on Form N-1A or N-14 of the Corporation filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended; (ii) Registration Statement on Form N-1A or N-14 of the Corporation under the Investment Company Act of 1940, as amended; (iii) amendment or supplement (including, but not limited to, Post-Effective Amendments adding additional series or classes of the Corporation) to said Registration Statement; and (iv) instruments or documents filed or to be filed as a part of or in connection with such Registration Statement, including Articles Supplementary, Articles of Amendment, and other instruments with respect to the Articles of Incorporation of the Corporation.

 IN WITNESS WHEREOF, the above named Corporations have caused these presents to be signed and the same attested by its Secretary, each thereunto duly authorized by its Board of Directors, and the undersigned has hereunto set his or her hand and seal as of the day set opposite his or her name.

   

/s/Ronald J. Daniels

  

Ronald J. Daniels, Director

Date: January 1, 2018

 

ATTEST:

/s/Darrell N. Braman 

   

Darrell N. Braman, Secretary

  


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Rowe Price Institutional Equity Funds, Inc. 0001012968 false 2018-04-26 2018-05-01 T. Rowe Price<br/><br/>Institutional Large-Cap Core Growth Fund<br/><br/><b>SUMMARY</b> <b>Investment Objective</b> The fund seeks to provide long-term capital growth through investments in the common stocks of large-cap growth companies. <b>Fees and Expenses</b> This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table. <b>Fees and Expenses of the Fund</b><br/><br/><b>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/>percentage of the value of your investment)</b> This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Example</b> <b>Portfolio Turnover</b> The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund&#8217;s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. During the most recent fiscal year, the fund&#8217;s portfolio turnover rate was 41.1% of the average value of its portfolio. <b>Investments, Risks, and Performance</b><br/><br/><b>Principal Investment Strategies</b> The fund follows a growth-oriented approach to stock selection and expects to normally invest in stocks of approximately 100 to 130 companies. The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in large-cap companies. The fund defines a large-cap company as one whose market capitalization is larger than the median market capitalization of companies in the Russell 1000 Growth Index, a widely used benchmark of the largest U.S. growth stocks. As of December 31, 2017, the (unweighted) median market capitalization of companies in the Russell 1000 Growth Index was approximately $11.8 billion. The market capitalizations of the companies in the fund&#8217;s portfolio and the Russell index change over time; the fund will not automatically sell or cease to purchase stock of a company it already owns just because the company&#8217;s market capitalization falls below the median market capitalization of companies in the Russell index. The fund may at times invest significantly in certain sectors, such as the information technology sector.<br/><br/>From a broad universe of about 1,000 large-cap stocks, the fund targets companies that, in the investment adviser&#8217;s view, are well established in their industries and have the potential for above-average earnings growth. The fund focuses on companies with leading market positions, seasoned management, and strong financial fundamentals. The fund may at times invest significantly in stocks of technology companies. The fund&#8217;s investment approach reflects its belief that solid company fundamentals (with emphasis on strong growth in earnings per share or operating cash flow) combined with a positive industry outlook should ultimately reward investors with strong investment performance. Generally, the adviser seeks out companies with strong free cash flow growth, good balance sheets, high returns on capital, and above-average earnings growth and profit margins. The adviser makes an effort to avoid overpaying for a company&#8217;s growth prospects by examining a company&#8217;s stock valuation relative to its own history, its industry peers, and the overall equity market.<br/><br/>Once stocks are selected for inclusion in the fund&#8217;s portfolio, the adviser monitors each company and may build positions carefully over time and scale back positions when the adviser believes valuations have become less compelling. The adviser will eliminate holdings for various reasons, including a loss of faith in management, a change in the adviser&#8217;s assessment of a company&#8217;s fundamentals, an overextension in share price valuations, or to replace stocks with potentially better investment opportunities.<br/><br/>In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund&#8217;s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management. <br/><br/>While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund&#8217;s objective. As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:<br/><br/><b>Active management risks</b> The investment adviser&#8217;s judgments about the attractiveness, value, or potential appreciation of the fund&#8217;s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund&#8217;s overall investment selections or strategies fail to produce the intended results.<br/><br/><b>Risks of U.S. stock investing</b> Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry. <br/><br/><b>Investment style risks</b> Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund&#8217;s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market.<br/><br/><b>Market capitalization risks</b> Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Securities issued by large-cap companies tend to be less volatile than securities issued by smaller companies. However, larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges.<br/><br/><b>Sector concentration risks</b> At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the information technology sector. Companies in the information technology sector can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences.<br/><br/><b>Foreign investing risks</b> The fund&#8217;s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund&#8217;s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors. <b>Principal Risks</b> <b>Performance</b> The following performance information provides some indication of the risks of investing in the fund. The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund. <b>Institutional Large-Cap Core Growth Fund<br/>Calendar Year Returns</b> <table style="width: 350pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="244"><tr style="height: 15pt;"> <td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td><td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&#xA0;&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td></tr><tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>Best&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3/31/12</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.63%</b></td><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Worst&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/31/08</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-24.93%</b></td></tr> </table> The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.<br/><br/>In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. <b>Average Annual Total Returns</b><br/><br/> <b>Periods ended </b><br/><b>December 31, 2017 </b> Updated performance information is available through <b>troweprice.com</b>. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The following performance information provides some indication of the risks of investing in the fund.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.<br/><br/>The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund. <b>troweprice.com</b> The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> T. Rowe Price<br/><br/>Institutional Large-Cap Growth Fund<br/><br/><b>SUMMARY</b> <b>Investment Objective</b> The fund seeks to provide long-term capital appreciation through investments in common stocks of growth companies. <b>Fees and Expenses</b> This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table. <b>Fees and Expenses of the Fund</b><br/><br/> <b>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/>percentage of the value of your investment)</b> <b>Example</b> This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Portfolio Turnover</b> The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund&#8217;s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. During the most recent fiscal year, the fund&#8217;s portfolio turnover rate was 36.1% of the average value of its portfolio. <b>Investments, Risks, and Performance</b><br/><br/><b>Principal Investment Strategies</b> In taking a growth approach to stock selection, the fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in the common stocks of large-cap companies. The fund defines a large-cap company as one whose market capitalization is larger than the median market capitalization of companies in the Russell 1000 Growth Index, a widely used benchmark of the largest U.S. growth stocks. As of December 31, 2017, the median market capitalization of companies in the Russell 1000 Growth Index was approximately $11.8 billion. The market capitalizations of the companies in the fund&#8217;s portfolio and the Russell index change over time; the fund will not automatically sell or cease to purchase stock of a company it already owns just because the company&#8217;s market capitalization falls below the median market capitalization of companies in the Russell index. The fund may at times invest significantly in certain sectors, such as the information technology sector.<br/><br/>We generally look for companies with an above-average rate of earnings and cash flow growth and a lucrative niche in the economy that gives them the ability to sustain earnings momentum even during times of slow economic growth. As growth investors, we believe that when a company increases its earnings faster than both inflation and the overall economy, the market will eventually reward it with a higher stock price.<br/><br/>The fund is &#8220;nondiversified,&#8221; meaning it may invest a greater portion of its assets in a single issuer and own more of the issuer&#8217;s voting securities than is permissible for a &#8220;diversified&#8221; fund.<br/><br/>In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund&#8217;s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management. <br/><br/>While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund&#8217;s objective.<br/><br/>The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. <b>Principal Risks</b> As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:<br/><br/><b>Active management risks</b> The investment adviser&#8217;s judgments about the attractiveness, value, or potential appreciation of the fund&#8217;s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund&#8217;s overall investment selections or strategies fail to produce the intended results.<br/><br/><b>Risks of stock investing</b> Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the stock market or because of factors that affect a particular company or industry. <br/><br/><b>Emerging markets risks</b> The risks of foreign investing are heightened for securities of issuers in emerging market countries. Emerging market countries tend to have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries. In addition to all of the risks of investing in foreign developed markets, emerging markets are more susceptible to governmental interference, local taxes being imposed on foreign investments, restrictions on gaining access to sales proceeds, and less liquid and less efficient trading markets.<br/><br/><b>Investment style risks</b> Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund&#8217;s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market.<br/><br/><b>Market capitalization risks</b> Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Securities issued by large-cap companies tend to be less volatile than securities issued by smaller companies. However, larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges.<br/><br/><b>Sector concentration risks</b> At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the information technology sector. Companies in the information technology sector can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences.<br/><br/><b>Nondiversification risks</b> As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The fund&#8217;s share price can be expected to fluctuate more than that of a comparable diversified fund.<br/><br/><b>Foreign investing risks</b> The fund&#8217;s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. <b>Performance</b> The following performance information provides some indication of the risks of investing in the fund. The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund. <b>Institutional Large-Cap Growth Fund<br/>Calendar Year Returns</b> The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.<br/><br/>In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. <table style="width: 350pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="244"><tr style="height: 15pt;"> <td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td><td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&#xA0;&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td></tr><tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>Best&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6/30/09</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.94%</b></td><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Worst&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/31/08</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-22.72%</b></td></tr> </table> <b>Average Annual Total Returns</b><br/><br/><b>Periods ended </b><br/><b>December 31, 2017 </b> Updated performance information is available through <b>troweprice.com</b>. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. <b>Nondiversification risks</b> As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The fund&#8217;s share price can be expected to fluctuate more than that of a comparable diversified fund. The following performance information provides some indication of the risks of investing in the fund.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.<br/><br/>The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund. <b>troweprice.com</b> The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. 2003-09-30 2003-09-30 2003-09-30 <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpenses000023 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualTotalReturnsBarChart000026 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposed000024 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAverageAnnualTotalReturnsTransposed000027 column period compact * ~</div> T. Rowe Price<br/><br/>Institutional Large-Cap Value Fund<br/><br/><b>SUMMARY</b> <b>Investment Objective</b> The fund seeks to provide long-term capital appreciation by investing in common stocks believed to be undervalued. Income is a secondary objective. <b>Fees and Expenses</b> This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table. <b>Fees and Expenses of the Fund</b><br/><br/><b>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/>percentage of the value of your investment)</b> <b>Example</b> This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Portfolio Turnover</b> The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund&#8217;s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. During the most recent fiscal year, the fund&#8217;s portfolio turnover rate was 30.8% of the average value of its portfolio. <b>Investments, Risks, and Performance</b><br/><br/><b>Principal Investment Strategies </b> In taking a value approach to investment selection, the fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in securities of large-cap companies that the portfolio manager regards as undervalued. The fund defines a large-cap company as having a market capitalization that, at the time of purchase, is either (i) larger than the current median market capitalization of companies in the Russell 1000 Value Index or (ii) larger than the three year average median market capitalization of companies in the index as of December 31 of the three preceding years. The Russell 1000 Value Index is a widely used benchmark of the largest U.S. value stocks. As of December 31, 2017, the median market capitalization for the Russell 1000 Value Index was approximately $9.8 billion. The market capitalizations of the companies in the fund&#8217;s portfolio and the Russell index change over time; the fund will not automatically sell or cease to purchase stock of a company it owns just because the company&#8217;s market capitalization falls below these levels. The fund may also purchase stocks of smaller companies. The fund may at times invest significantly in certain sectors, such as the financials sector.<br/><br/>Our in-house research team seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation. In selecting investments, we generally look for one or more of the following:<ul type="square"><li> low price/earnings, price/book value, price/sales, or price/cash flow ratios relative to the Russell 1000 Value Index, the company&#8217;s peers, or its own historical norm;</li></ul><ul type="square"><li> low stock price relative to a company&#8217;s underlying asset values;</li></ul><ul type="square"><li> companies that may benefit from restructuring activity; and/or</li></ul><ul type="square"><li> a sound balance sheet and other positive financial characteristics.</li></ul>In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund&#8217;s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management. <br/><br/>While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund&#8217;s objective.<br/><br/>The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. <b>Principal Risks</b> As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:<br/><br/><b>Active management risks</b> The investment adviser&#8217;s judgments about the attractiveness, value, or potential appreciation of the fund&#8217;s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund&#8217;s overall investment selections or strategies fail to produce the intended results.<br/><br/><b>Risks of U.S. stock investing</b> Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry. <br/><br/><b>Investment style risks</b> Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund&#8217;s value approach to investing could cause it to underperform other stock funds that employ a different investment style. The intrinsic value of a stock with value characteristics may not be fully recognized by the market for a long time or a stock judged to be undervalued may actually be appropriately priced at a low level.<br/><br/><b>Market capitalization risks</b> Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Securities issued by large-cap companies tend to be less volatile than securities issued by smaller companies. However, larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges.<br/><br/><b>Foreign investing risks</b> The fund&#8217;s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund&#8217;s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors.<br/><br/><b>Sector concentration risks</b> At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the financials sectors. Companies in the financials sector may be adversely impacted by, among other things, regulatory changes, economic conditions, interest rates, credit rating downgrades, and decreased liquidity in credit markets. <b>Performance</b> The following performance information provides some indication of the risks of investing in the fund. The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund. The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.<br/><br/>In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. <b>Institutional Large-Cap Value Fund<br/>Calendar Year Returns</b> <table style="width: 350pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="244"><tr style="height: 15pt;"> <td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td><td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&#xA0;&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td></tr><tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>Best&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6/30/09</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.20%</b></td><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Worst&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/31/08</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-23.77%</b></td></tr> </table> <b>Average Annual Total Returns</b><br/><br/> <b>Periods ended </b><br/><b>December 31, 2017 </b> Updated performance information is available through <b>troweprice.com</b>. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The following performance information provides some indication of the risks of investing in the fund.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.<br/><br/>The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund. <b>troweprice.com</b> The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. 2001-10-31 2001-10-31 2001-10-31 <b>Best&nbsp;Quarter</b> 2012-03-31 <b>Worst&nbsp;Quarter</b> 2008-12-31 <b>Best&nbsp;Quarter</b> 2009-06-30 <b>Worst&nbsp;Quarter</b> 2008-12-31 <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpenses000033 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualTotalReturnsBarChart000036 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposed000034 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAverageAnnualTotalReturnsTransposed000037 column period compact * ~</div> T. Rowe Price<br/><br/>Institutional Mid-Cap Equity Growth Fund<br/><br/><b>SUMMARY</b> <b>Investment Objective</b> The fund seeks to provide long-term capital appreciation by investing in mid-cap stocks with potential for above-average earnings growth. <b>Fees and Expenses</b> This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table. <b>Fees and Expenses of the Fund</b><br/><br/><b>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/>percentage of the value of your investment)</b> <b>Example</b> This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Portfolio Turnover</b> The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund&#8217;s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. During the most recent fiscal year, the fund&#8217;s portfolio turnover rate was 31.1% of the average value of its portfolio. <b>Investments, Risks, and Performance</b><br/><br/><b>Principal Investment Strategies</b> The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in a diversified portfolio of common stocks of mid-cap companies whose earnings T. Rowe Price expects to grow at a faster rate than the average company. The fund defines mid-cap companies as those whose market capitalization (number of shares outstanding multiplied by share price) falls within the range of either the S&amp;P MidCap 400 Index or the Russell Midcap Growth Index. As of December 31, 2017, the market capitalization ranges for the S&amp;P MidCap 400 Index and the Russell Midcap Growth Index were approximately $946 million to $13.1 billion, and $1.2 billion to $36.7 billion, respectively. The market capitalization of the companies in the fund&#8217;s portfolio and the S&amp;P and Russell indices changes over time; the fund will not automatically sell or cease to purchase stock of a company it holds just because the company&#8217;s market capitalization grows or falls outside these ranges. The fund may at times invest significantly in certain sectors, such as the information technology sector.<br/><br/>As &#8220;growth&#8221; investors, T. Rowe Price believes that when a company&#8217;s earnings grow faster than both inflation and the overall economy, the market will eventually reward it with a higher stock price.<br/><br/>In selecting investments, we generally favor companies with one or more of the following:<ul type="square"><li> proven products or services;</li></ul><ul type="square"><li> a record of above-average earnings growth;</li></ul><ul type="square"><li> demonstrated potential to sustain earnings growth;</li></ul><ul type="square"><li> connection to an industry experiencing increasing demand; or</li></ul><ul type="square"><li> stock prices that appear to undervalue their growth prospects.</li></ul>In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund&#8217;s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.<br/><br/>While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund&#8217;s objective.<br/><br/>The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. <b>Principal Risks</b> As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:<br/><br/><b>Active management risks</b> The investment adviser&#8217;s judgments about the attractiveness, value, or potential appreciation of the fund&#8217;s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund&#8217;s overall investment selections or strategies fail to produce the intended results.<br/><br/><b>Risks of U.S. stock investing</b> Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.<br/><br/><b>Mid-cap stock risks</b> Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the fund invests primarily in securities issued by mid-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by large companies. Medium-sized companies may have less seasoned management, narrower product lines, and less capital reserves and liquidity than larger companies, and are therefore more sensitive to economic, market, and industry changes.<br/><br/><b>Investment style risks</b> Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund&#8217;s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market.<br/><br/><b>Foreign investing risks</b> The fund&#8217;s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund&#8217;s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors.<br/><br/><b>Sector concentration risks</b> At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the information technology sector. Companies in the information technology sector can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences. <b>Performance</b> The following performance information provides some indication of the risks of investing in the fund. The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund. The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.<br/><br/>In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. <table style="width: 350pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="244"><tr style="height: 15pt;"> <td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td><td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&#xA0;&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td></tr><tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>Best&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9/30/09</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.76%</b></td><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Worst&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/31/08</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-25.87%</b></td></tr> </table> <b>Institutional Mid-Cap Equity Growth Fund<br/>Calendar Year Returns</b> <b>Average Annual Total Returns</b><br/><br/><b>Periods ended<br/>December 31, 2017</b> Updated performance information is available through <b>troweprice.com</b>. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The following performance information provides some indication of the risks of investing in the fund.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.<br/><br/>The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund. The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. <b>troweprice.com</b> 2000-03-31 2000-03-31 2000-03-31 <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpenses000043 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualTotalReturnsBarChart000046 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposed000044 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAverageAnnualTotalReturnsTransposed000047 column period compact * ~</div> T. Rowe Price<br/><br/>Institutional Small-Cap<br/><br/>Stock Fund<br/><br/><b>SUMMARY</b> <b>Investment Objective</b> The fund seeks to provide long-term capital growth by investing primarily in stocks of small companies. <b>Fees and Expenses</b> This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table. <b>Fees and Expenses of the Fund</b><br/><br/><b>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/>percentage of the value of your investment)</b> <b>Example</b> This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Portfolio Turnover</b> The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund&#8217;s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. During the most recent fiscal year, the fund&#8217;s portfolio turnover rate was 41.6% of the average value of its portfolio. <b>Investments, Risks, and Performance</b><br/><br/><b>Principal Investment Strategies</b> The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in stocks of small companies. The fund defines a small company as one whose market capitalization falls (i) within or below the current range of companies in either the Russell 2000<sup>&#174;</sup> Index or the S&amp;P SmallCap 600 Index or (ii) below the three-year average maximum market cap of companies in either index as of December 31 of the three preceding years. The Russell 2000 and S&amp;P SmallCap 600 Indices are widely used benchmarks for tracking small-cap stock performance. As of December 31, 2017, the market capitalization ranges for the Russell 2000 Index and the S&amp;P SmallCap 600 Index were approximately $22.7 million to $9.4 billion, and $95.5 million to $24.4 billion, respectively. The market capitalizations of the companies in the fund&#8217;s portfolio and the S&amp;P and Russell indexes change over time; the fund will not automatically sell or cease to purchase stock of a company it already owns just because the company&#8217;s market capitalization grows or falls outside this range. The fund may, on occasion, purchase companies with a market capitalization above the ranges. When choosing stocks, we generally look for one or more of the following characteristics:<ul type="square"><li> capable management;</li></ul><ul type="square"><li> attractive business niches;</li></ul><ul type="square"><li> pricing flexibility;</li></ul><ul type="square"><li> sound financial and accounting practices;</li></ul><ul type="square"><li> a potential or demonstrated ability to grow revenues, earnings, and cash flow consistently; and</li></ul><ul type="square"><li> the potential for a catalyst (such as increased investor attention, asset sales, strong business prospects, or a change in management) to cause the stock&#8217;s price to rise.</li></ul>Holdings will be widely diversified by industry and issuer, and stock selection may reflect either a growth or value investment approach. For example, we may look for a company whose price/earnings ratio is attractive relative to the underlying earnings growth rate. A value stock would be one where the stock price appears undervalued in relation to earnings, projected cash flow, or asset value per share.<br/><br/>In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund&#8217;s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.<br/><br/>While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund&#8217;s objective.<br/><br/>The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. <b>Principal Risks</b> As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:<br/><br/><b>Active management risks</b> The investment adviser&#8217;s judgments about the attractiveness, value, or potential appreciation of the fund&#8217;s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund&#8217;s overall investment selections or strategies fail to produce the intended results.<br/><br/><b>Risks of U.S. stock investing</b> Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.<br/><br/><b>Investment style risks</b> Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. Because the fund may hold stocks with either growth or value characteristics, it could underperform other stock funds that take a strictly growth or value approach to investing when one style is currently in favor. Growth stocks tend to be more volatile than the overall stock market and can have sharp price declines as a result of earnings disappointments. Value stocks carry the risk that the market will not recognize their intrinsic value or that they are actually appropriately priced at a low level.<br/><br/><b>Small-cap stock risks</b> Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the fund invests primarily in securities issued by small-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by larger companies. Small companies often have less experienced management, narrower product lines, more limited financial resources, and less publicly available information than larger companies. In addition, smaller companies are typically more sensitive to changes in overall economic conditions and their securities may be difficult to trade.<br/><br/><b>Foreign investing risks</b> The fund&#8217;s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund&#8217;s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors. <b>Performance</b> The following performance information provides some indication of the risks of investing in the fund. The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund. The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.<br/><br/>In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. <table style="width: 350pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="244"><tr style="height: 15pt;"> <td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td><td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&#xA0;&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td></tr><tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>Best&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6/30/09</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.71%</b></td><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Worst&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/31/08</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-23.90%</b></td></tr> </table> <b>Institutional Small-Cap Stock Fund<br/>Calendar Year Returns</b> <b>Average Annual Total Returns</b><br/><br/><b>Periods ended<br/>December 31, 2017</b> Updated performance information is available through <b>troweprice.com</b>. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The following performance information provides some indication of the risks of investing in the fund.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.<br/><br/>The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund. The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. <b>troweprice.com</b> <b>Best&nbsp;Quarter</b> 2009-06-30 <b>Worst&nbsp;Quarter</b> 2008-12-31 1996-07-31 1996-07-31 <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpenses000053 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualTotalReturnsBarChart000056 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposed000054 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAverageAnnualTotalReturnsTransposed000057 column period compact * ~</div> T. Rowe Price<br/><br/>Institutional U.S. Structured<br/><br/>Research Fund<br/><br/><b>SUMMARY</b> <b>Investment Objective</b> The fund seeks to provide long-term capital growth by investing primarily in U.S. common stocks. <b>Fees and Expenses</b> This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table. <b>Fees and Expenses of the Fund</b><br/><br/><b>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/>percentage of the value of your investment)</b> <b>Example</b> This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Portfolio Turnover</b> The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund&#8217;s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. During the most recent fiscal year, the fund&#8217;s portfolio turnover rate was 36.4% of the average value of its portfolio. <b>Investments, Risks, and Performance</b><br/><br/><b>Principal Investment Strategies</b> The strategy attempts to create a portfolio with similar characteristics to the Standard &amp; Poor&#8217;s 500 Stock Index<sup>&#174;</sup> (S&amp;P 500 Index) with the potential to provide excess returns relative to the Index. The fund uses a disciplined portfolio construction process whereby it weights each sector and industry approximately the same as the S&amp;P 500 Index. Within each sector and industry, the weighting of individual fund holdings can vary significantly from their weighting within the S&amp;P 500 Index. The fund, which may be considered an &#8220;enhanced index&#8221; fund, attempts to outperform the S&amp;P 500 Index by overweighting those stocks that are viewed favorably relative to their weighting in the Index, and underweighting or avoiding those stocks that are viewed negatively. The fund may also purchase stocks that are not in the S&amp;P 500 Index, but at least 80% of the fund&#8217;s total assets will normally be invested in stocks that are in the S&amp;P 500 Index at the time of purchase.<br/><br/>A portfolio oversight team is responsible for the overall structure of the fund and for developing rules for portfolio construction. The portfolio oversight team seeks to take advantage of T. Rowe Price&#8217;s fundamental research by assigning equity analysts to select stocks for the fund within industries where they have focused expertise. The equity analysts are directly responsible for selecting stocks and determining the stocks&#8217; weights within their industry-specific portfolios. The analysts actively select stocks from the industries they cover based on fundamental research, which considers various factors such as the quality of a company&#8217;s management team and its business franchise, earnings growth potential of a company and its market sector, and valuation. The fund&#8217;s portfolio oversight team maintains responsibility for evaluating the performance of the overall portfolio and the analysts&#8217; stock selections, tracking and aligning the fund&#8217;s risk characteristics with those of the S&amp;P 500 Index, monitoring the portfolio&#8217;s exposures to industries and sectors, managing cash flows into and out of the fund, and ensuring overall compliance by the analysts with the fund&#8217;s portfolio construction principles. The portfolio oversight team is responsible for selecting stocks that meet the fund&#8217;s investment criteria, but have not yet been assigned to an analyst.<br/><br/>Because the fund is designed to have similar characteristics to the S&amp;P 500 Index, there is expected to be a relatively close correlation between the fund&#8217;s performance and the performance of the Index in both rising and falling markets. However, when compared to a fund that follows a strict indexing strategy, there is a much greater chance that the fund&#8217;s performance will deviate from the Index (referred to as &#8220;tracking error&#8221;) and the potential for higher portfolio turnover, which increases the possibility of taxable distributions to shareholders and results in higher transaction costs to the fund.<br/><br/>The fund will generally remain fully invested (less than 5% in cash reserves) and seeks to be sector neutral when compared to the S&amp;P 500 Index. While the majority of assets will be invested in large-capitalization U.S. common stocks, small- and mid-capitalization and foreign stocks may also be purchased in keeping with fund objectives. Securities may be sold for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. The fund may at times invest significantly in certain sectors, such as the information technology sector.<br/><br/>In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund&#8217;s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management. <b>Principal Risks</b> As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:<br/><br/><b>Active management risks</b> The investment adviser&#8217;s judgments about the attractiveness, value, or potential appreciation of the fund&#8217;s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund&#8217;s overall investment selections or strategies fail to produce the intended results.<br/><br/><b>Risks of U.S. stock investing</b> Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry. <br/><br/><b>Investment style risks</b> Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. Because the fund may hold stocks with either growth or value characteristics, it could underperform other stock funds that take a strictly growth or value approach to investing when one style is currently in favor. Growth stocks tend to be more volatile than the overall stock market and can have sharp price declines as a result of earnings disappointments. Value stocks carry the risk that the market will not recognize their intrinsic value or that they are actually appropriately priced at a low level. <br/><br/><b>Market capitalization risks</b> The fund&#8217;s focus on large companies subjects the fund to the risks that larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and that they may be less capable of responding quickly to competitive challenges and industry changes. Because the fund may invest in companies of any size, its share price could be more volatile than a fund that invests only in large companies. Small and medium-sized companies typically have less experienced management, narrower product lines, more limited financial resources, and less publicly available information than larger companies.<br/><br/><b>Foreign investing risks</b> The fund&#8217;s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. <b>Performance</b> The following performance information provides some indication of the risks of investing in the fund. The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund. <b>Institutional U.S. Structured Research Fund <br/>Calendar Year Returns</b> <table style="width: 350pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="244"><tr style="height: 15pt;"> <td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td><td style="background-color: transparent; width: 84pt; height: 15pt;" class="xl65" height="20" width="112">&#xA0;</td> <td style="background-color: transparent; width: 51pt;" class="xl66" width="68"><b>Quarter&nbsp;Ended</b></td> <td style="background-color: transparent; width: 48pt;" class="xl66" width="64"><b>&#xA0;&nbsp;&nbsp;&nbsp;Total&nbsp;Return</b></td></tr><tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>Best&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6/30/09</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.73%</b></td><td style="background-color: transparent; height: 15pt;" class="xl68" height="20"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Worst&nbsp;Quarter</b></td> <td style="background-color: transparent;" class="xl69"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/31/08</b></td> <td style="background-color: transparent;" class="xl70"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-21.79%</b></td></tr> </table> The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.<br/><br/>In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. <b>Average Annual Total Returns</b><br/><br/><b>Periods ended </b><br/><b>December 31, 2017 </b> Updated performance information is available through <b>troweprice.com</b>. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The following performance information provides some indication of the risks of investing in the fund.<br/><br/>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.<br/><br/>The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund. <b>troweprice.com</b> The fund&#8217;s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. 1996-07-31 <b>Best Quarter</b> 2009-09-30 <b>Worst Quarter</b> 2008-12-31 2000-03-31 2000-03-31 2000-03-31 2007-10-31 2007-10-31 2007-10-31 <b>Best Quarter</b> 2009-06-30 <b>Worst Quarter</b> 2008-12-31 <b>Best&nbsp;Quarter</b> 2009-06-30 <b>Worst&nbsp;Quarter</b> 2008-12-31 <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpenses000063 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualTotalReturnsBarChart000066 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposed000064 column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAverageAnnualTotalReturnsTransposed000067 column period compact * ~</div> 56 176 307 689 67 211 368 822 62 195 340 762 58 183 318 714 58 183 318 714 57 179 313 701 -0.4086 0.534 0.1629 -0.014 0.1755 0.4444 0.0872 0.1008 0.0285 0.3782 -0.4261 0.4299 0.1637 0.0147 0.1848 0.4144 0.093 0.1134 0.0112 0.365 0.365 0.189 0.1056 0.3605 0.1869 0.1043 0.2103 0.1538 0.0873 0.2183 0.1579 0.085 0.3185 0.159 0.082 0.411 0.0055 0.0002 0.0057 0.0055 0.0001 0.0056 0.0055 0.0002 0.0057 -0.3617 0.2809 0.1327 -0.0119 0.1785 0.3398 0.1313 -0.0332 0.162 0.1683 -0.2272 0.1994 -0.2493 0.1863 0.3782 0.1963 0.116 0.35 0.1834 0.1098 0.2365 0.1579 0.0956 0.3021 0.1733 0.1 0.3185 0.159 0.082 0.361 0.006 0.0001 0.0061 -0.4059 0.4678 0.2924 -0.0128 0.145 0.3789 0.1379 0.0694 0.0694 0.2602 0.2602 0.1773 0.1116 0.1683 0.1475 0.0793 0.1556 0.1374 0.0729 0.1057 0.1174 0.0636 0.1366 0.1404 0.071 0.1606 0.1399 0.0686 0.308 0.0065 0.0001 0.0066 -0.331 0.3922 0.3296 0.0022 0.1868 0.3956 0.0742 -0.0307 0.19 0.1545 0.1545 0.1483 0.1139 0.2527 0.153 0.091 0.259 0.1431 0.0771 0.311 0.2424 0.1639 0.1039 -0.2377 0.202 0.005 0.0005 0.0055 -0.3632 0.2942 0.136 0.0142 0.1622 0.3286 0.1235 0.0294 0.1037 0.2381 0.1465 0.1412 0.0871 0.1323 0.1599 0.1043 0.1395 0.1364 0.0869 0.416 0.099 0.1167 0.0928 0.1353 0.1348 0.1048 -0.2587 0.1976 0.1618 0.1413 0.0909 -0.2179 0.1673 -0.239 0.2171 0.2381 0.1599 0.0877 0.2026 0.1352 0.0748 0.1624 0.1248 0.0694 0.2183 0.1579 0.085 0.209 0.1463 0.0758 0.364 EX-101.SCH 3 trpiefi-20180426.xsd XBRL SCHEMA FILE 000000 - Document - Document and Entity Information {Elements} link:presentationLink link:calculationLink link:definitionLink 000011 - Document - Risk/Return Summary {Unlabeled} - T. 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Rowe Price Institutional Large-Cap Value Fund link:presentationLink link:calculationLink link:definitionLink 000032 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000033 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000034 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000035 - Schedule - Expense Example, No Redemption link:presentationLink link:calculationLink link:definitionLink 000036 - Schedule - Annual Total Returns [BarChart] link:presentationLink link:calculationLink link:definitionLink 000037 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000038 - Document - Risk/Return Detail {Unlabeled} - T. Rowe Price Institutional Large-Cap Value Fund link:presentationLink link:calculationLink link:definitionLink 000039 - Disclosure - Risk/Return Detail Data {Elements} - T. Rowe Price Institutional Large-Cap Value Fund link:presentationLink link:calculationLink link:definitionLink 000041 - Document - Risk/Return Summary {Unlabeled} - T. Rowe Price Institutional Mid-Cap Equity Growth Fund link:presentationLink link:calculationLink link:definitionLink 000042 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000043 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000044 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000045 - Schedule - Expense Example, No Redemption link:presentationLink link:calculationLink link:definitionLink 000046 - Schedule - Annual Total Returns [BarChart] link:presentationLink link:calculationLink link:definitionLink 000047 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000048 - Document - Risk/Return Detail {Unlabeled} - T. Rowe Price Institutional Mid-Cap Equity Growth Fund link:presentationLink link:calculationLink link:definitionLink 000049 - Disclosure - Risk/Return Detail Data {Elements} - T. Rowe Price Institutional Mid-Cap Equity Growth Fund link:presentationLink link:calculationLink link:definitionLink 000051 - Document - Risk/Return Summary {Unlabeled} - T. Rowe Price Institutional Small-Cap Stock Fund link:presentationLink link:calculationLink link:definitionLink 000052 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000053 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000054 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000055 - Schedule - Expense Example, No Redemption link:presentationLink link:calculationLink link:definitionLink 000056 - Schedule - Annual Total Returns [BarChart] link:presentationLink link:calculationLink link:definitionLink 000057 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000058 - Document - Risk/Return Detail {Unlabeled} - T. Rowe Price Institutional Small-Cap Stock Fund link:presentationLink link:calculationLink link:definitionLink 000059 - Disclosure - Risk/Return Detail Data {Elements} - T. Rowe Price Institutional Small-Cap Stock Fund link:presentationLink link:calculationLink link:definitionLink 000061 - Document - Risk/Return Summary {Unlabeled} - T. Rowe Price Institutional U.S. Structured Research Fund link:presentationLink link:calculationLink link:definitionLink 000062 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 000063 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 000064 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 000065 - Schedule - Expense Example, No Redemption link:presentationLink link:calculationLink link:definitionLink 000066 - Schedule - Annual Total Returns [BarChart] link:presentationLink link:calculationLink link:definitionLink 000067 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 000068 - Document - Risk/Return Detail {Unlabeled} - T. Rowe Price Institutional U.S. Structured Research Fund link:presentationLink link:calculationLink link:definitionLink 000069 - Disclosure - Risk/Return Detail Data {Elements} - T. Rowe Price Institutional U.S. Structured Research Fund link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 trpiefi-20180426_cal.xml XBRL CALCULATION FILE EX-101.DEF 5 trpiefi-20180426_def.xml XBRL DEFINITION FILE EX-101.LAB 6 trpiefi-20180426_lab.xml XBRL LABEL FILE EX-101.PRE 7 trpiefi-20180426_pre.xml XBRL PRESENTATION FILE XML 8 R1.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2017
Registrant Name dei_EntityRegistrantName T. Rowe Price Institutional Equity Funds, Inc.
Central Index Key dei_EntityCentralIndexKey 0001012968
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Apr. 26, 2018
Document Effective Date dei_DocumentEffectiveDate May 01, 2018
Prospectus Date rr_ProspectusDate May 01, 2018
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T. Rowe Price Institutional Large-Cap Core Growth Fund
T. Rowe Price

Institutional Large-Cap Core Growth Fund

SUMMARY
Investment Objective
The fund seeks to provide long-term capital growth through investments in the common stocks of large-cap growth companies.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Annual Fund Operating Expenses
T. Rowe Price Institutional Large-Cap Core Growth Fund
T. Rowe Price Institutional Large-Cap Core Growth Fund
Management fees 0.55%
Other expenses 0.02%
Total annual fund operating expenses 0.57%
Example
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 year
3 years
5 years
10 years
T. Rowe Price Institutional Large-Cap Core Growth Fund | T. Rowe Price Institutional Large-Cap Core Growth Fund | USD ($) 58 183 318 714
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 41.1% of the average value of its portfolio.
Investments, Risks, and Performance

Principal Investment Strategies
The fund follows a growth-oriented approach to stock selection and expects to normally invest in stocks of approximately 100 to 130 companies. The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in large-cap companies. The fund defines a large-cap company as one whose market capitalization is larger than the median market capitalization of companies in the Russell 1000 Growth Index, a widely used benchmark of the largest U.S. growth stocks. As of December 31, 2017, the (unweighted) median market capitalization of companies in the Russell 1000 Growth Index was approximately $11.8 billion. The market capitalizations of the companies in the fund’s portfolio and the Russell index change over time; the fund will not automatically sell or cease to purchase stock of a company it already owns just because the company’s market capitalization falls below the median market capitalization of companies in the Russell index. The fund may at times invest significantly in certain sectors, such as the information technology sector.

From a broad universe of about 1,000 large-cap stocks, the fund targets companies that, in the investment adviser’s view, are well established in their industries and have the potential for above-average earnings growth. The fund focuses on companies with leading market positions, seasoned management, and strong financial fundamentals. The fund may at times invest significantly in stocks of technology companies. The fund’s investment approach reflects its belief that solid company fundamentals (with emphasis on strong growth in earnings per share or operating cash flow) combined with a positive industry outlook should ultimately reward investors with strong investment performance. Generally, the adviser seeks out companies with strong free cash flow growth, good balance sheets, high returns on capital, and above-average earnings growth and profit margins. The adviser makes an effort to avoid overpaying for a company’s growth prospects by examining a company’s stock valuation relative to its own history, its industry peers, and the overall equity market.

Once stocks are selected for inclusion in the fund’s portfolio, the adviser monitors each company and may build positions carefully over time and scale back positions when the adviser believes valuations have become less compelling. The adviser will eliminate holdings for various reasons, including a loss of faith in management, a change in the adviser’s assessment of a company’s fundamentals, an overextension in share price valuations, or to replace stocks with potentially better investment opportunities.

In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objective.
Principal Risks
As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund’s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market.

Market capitalization risks Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Securities issued by large-cap companies tend to be less volatile than securities issued by smaller companies. However, larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges.

Sector concentration risks At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the information technology sector. Companies in the information technology sector can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund’s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors.
Performance
The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Institutional Large-Cap Core Growth Fund
Calendar Year Returns
Bar Chart
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             3/31/12             18.63%      Worst Quarter            12/31/08            -24.93%
The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Average Annual Total Returns

Periods ended
December 31, 2017
Average Annual Total Returns - T. Rowe Price Institutional Large-Cap Core Growth Fund
1 Year
5 Years
10 Years
Inception date
T. Rowe Price Institutional Large-Cap Core Growth Fund 36.50% 18.90% 10.56% Sep. 30, 2003
T. Rowe Price Institutional Large-Cap Core Growth Fund | Returns after taxes on distributions 36.05% 18.69% 10.43% Sep. 30, 2003
T. Rowe Price Institutional Large-Cap Core Growth Fund | Returns after taxes on distributions and sale of fund shares 21.03% 15.38% 8.73% Sep. 30, 2003
S&P 500 Index (reflects no deduction for fees, expenses, or taxes) 21.83% 15.79% 8.50%  
Lipper Large-Cap Growth Funds Index 31.85% 15.90% 8.20%  
Updated performance information is available through troweprice.com.
XML 11 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName T. Rowe Price Institutional Equity Funds, Inc.
Prospectus Date rr_ProspectusDate May 01, 2018
T. Rowe Price Institutional Large-Cap Core Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading T. Rowe Price

Institutional Large-Cap Core Growth Fund

SUMMARY
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The fund seeks to provide long-term capital growth through investments in the common stocks of large-cap growth companies.
Expense [Heading] rr_ExpenseHeading Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 41.1% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 41.10%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Investments, Risks, and Performance

Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The fund follows a growth-oriented approach to stock selection and expects to normally invest in stocks of approximately 100 to 130 companies. The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in large-cap companies. The fund defines a large-cap company as one whose market capitalization is larger than the median market capitalization of companies in the Russell 1000 Growth Index, a widely used benchmark of the largest U.S. growth stocks. As of December 31, 2017, the (unweighted) median market capitalization of companies in the Russell 1000 Growth Index was approximately $11.8 billion. The market capitalizations of the companies in the fund’s portfolio and the Russell index change over time; the fund will not automatically sell or cease to purchase stock of a company it already owns just because the company’s market capitalization falls below the median market capitalization of companies in the Russell index. The fund may at times invest significantly in certain sectors, such as the information technology sector.

From a broad universe of about 1,000 large-cap stocks, the fund targets companies that, in the investment adviser’s view, are well established in their industries and have the potential for above-average earnings growth. The fund focuses on companies with leading market positions, seasoned management, and strong financial fundamentals. The fund may at times invest significantly in stocks of technology companies. The fund’s investment approach reflects its belief that solid company fundamentals (with emphasis on strong growth in earnings per share or operating cash flow) combined with a positive industry outlook should ultimately reward investors with strong investment performance. Generally, the adviser seeks out companies with strong free cash flow growth, good balance sheets, high returns on capital, and above-average earnings growth and profit margins. The adviser makes an effort to avoid overpaying for a company’s growth prospects by examining a company’s stock valuation relative to its own history, its industry peers, and the overall equity market.

Once stocks are selected for inclusion in the fund’s portfolio, the adviser monitors each company and may build positions carefully over time and scale back positions when the adviser believes valuations have become less compelling. The adviser will eliminate holdings for various reasons, including a loss of faith in management, a change in the adviser’s assessment of a company’s fundamentals, an overextension in share price valuations, or to replace stocks with potentially better investment opportunities.

In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objective.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund’s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market.

Market capitalization risks Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Securities issued by large-cap companies tend to be less volatile than securities issued by smaller companies. However, larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges.

Sector concentration risks At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the information technology sector. Companies in the information technology sector can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund’s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors.
Risk Lose Money [Text] rr_RiskLoseMoney The fund’s share price fluctuates, which means you could lose money by investing in the fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following performance information provides some indication of the risks of investing in the fund.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.

The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress troweprice.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Institutional Large-Cap Core Growth Fund
Calendar Year Returns
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             3/31/12             18.63%      Worst Quarter            12/31/08            -24.93%
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns

Periods ended
December 31, 2017
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock Updated performance information is available through troweprice.com.
T. Rowe Price Institutional Large-Cap Core Growth Fund | T. Rowe Price Institutional Large-Cap Core Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Management fees rr_ManagementFeesOverAssets 0.55%
Other expenses rr_OtherExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 0.57%
1 year rr_ExpenseExampleYear01 $ 58
3 years rr_ExpenseExampleYear03 183
5 years rr_ExpenseExampleYear05 318
10 years rr_ExpenseExampleYear10 $ 714
2008 rr_AnnualReturn2008 (42.61%)
2009 rr_AnnualReturn2009 42.99%
2010 rr_AnnualReturn2010 16.37%
2011 rr_AnnualReturn2011 1.47%
2012 rr_AnnualReturn2012 18.48%
2013 rr_AnnualReturn2013 41.44%
2014 rr_AnnualReturn2014 9.30%
2015 rr_AnnualReturn2015 11.34%
2016 rr_AnnualReturn2016 1.12%
2017 rr_AnnualReturn2017 36.50%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.63%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (24.93%)
1 Year rr_AverageAnnualReturnYear01 36.50%
5 Years rr_AverageAnnualReturnYear05 18.90%
10 Years rr_AverageAnnualReturnYear10 10.56%
Inception date rr_AverageAnnualReturnInceptionDate Sep. 30, 2003
T. Rowe Price Institutional Large-Cap Core Growth Fund | Returns after taxes on distributions | T. Rowe Price Institutional Large-Cap Core Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 36.05%
5 Years rr_AverageAnnualReturnYear05 18.69%
10 Years rr_AverageAnnualReturnYear10 10.43%
Inception date rr_AverageAnnualReturnInceptionDate Sep. 30, 2003
T. Rowe Price Institutional Large-Cap Core Growth Fund | Returns after taxes on distributions and sale of fund shares | T. Rowe Price Institutional Large-Cap Core Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.03%
5 Years rr_AverageAnnualReturnYear05 15.38%
10 Years rr_AverageAnnualReturnYear10 8.73%
Inception date rr_AverageAnnualReturnInceptionDate Sep. 30, 2003
T. Rowe Price Institutional Large-Cap Core Growth Fund | S&P 500 Index (reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.83%
5 Years rr_AverageAnnualReturnYear05 15.79%
10 Years rr_AverageAnnualReturnYear10 8.50%
T. Rowe Price Institutional Large-Cap Core Growth Fund | Lipper Large-Cap Growth Funds Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 31.85%
5 Years rr_AverageAnnualReturnYear05 15.90%
10 Years rr_AverageAnnualReturnYear10 8.20%
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T. Rowe Price Institutional Large-Cap Growth Fund
T. Rowe Price

Institutional Large-Cap Growth Fund

SUMMARY
Investment Objective
The fund seeks to provide long-term capital appreciation through investments in common stocks of growth companies.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Annual Fund Operating Expenses
T. Rowe Price Institutional Large-Cap Growth Fund
T. Rowe Price Institutional Large-Cap Growth Fund
Management fees 0.55%
Other expenses 0.01%
Total annual fund operating expenses 0.56%
Example
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 year
3 years
5 years
10 years
T. Rowe Price Institutional Large-Cap Growth Fund | T. Rowe Price Institutional Large-Cap Growth Fund | USD ($) 57 179 313 701
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 36.1% of the average value of its portfolio.
Investments, Risks, and Performance

Principal Investment Strategies
In taking a growth approach to stock selection, the fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in the common stocks of large-cap companies. The fund defines a large-cap company as one whose market capitalization is larger than the median market capitalization of companies in the Russell 1000 Growth Index, a widely used benchmark of the largest U.S. growth stocks. As of December 31, 2017, the median market capitalization of companies in the Russell 1000 Growth Index was approximately $11.8 billion. The market capitalizations of the companies in the fund’s portfolio and the Russell index change over time; the fund will not automatically sell or cease to purchase stock of a company it already owns just because the company’s market capitalization falls below the median market capitalization of companies in the Russell index. The fund may at times invest significantly in certain sectors, such as the information technology sector.

We generally look for companies with an above-average rate of earnings and cash flow growth and a lucrative niche in the economy that gives them the ability to sustain earnings momentum even during times of slow economic growth. As growth investors, we believe that when a company increases its earnings faster than both inflation and the overall economy, the market will eventually reward it with a higher stock price.

The fund is “nondiversified,” meaning it may invest a greater portion of its assets in a single issuer and own more of the issuer’s voting securities than is permissible for a “diversified” fund.

In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objective.

The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
Principal Risks
As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the stock market or because of factors that affect a particular company or industry.

Emerging markets risks The risks of foreign investing are heightened for securities of issuers in emerging market countries. Emerging market countries tend to have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries. In addition to all of the risks of investing in foreign developed markets, emerging markets are more susceptible to governmental interference, local taxes being imposed on foreign investments, restrictions on gaining access to sales proceeds, and less liquid and less efficient trading markets.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund’s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market.

Market capitalization risks Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Securities issued by large-cap companies tend to be less volatile than securities issued by smaller companies. However, larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges.

Sector concentration risks At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the information technology sector. Companies in the information technology sector can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences.

Nondiversification risks As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The fund’s share price can be expected to fluctuate more than that of a comparable diversified fund.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.
Performance
The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Institutional Large-Cap Growth Fund
Calendar Year Returns
Bar Chart
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             6/30/09             19.94%      Worst Quarter            12/31/08            -22.72%
The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Average Annual Total Returns

Periods ended
December 31, 2017
Average Annual Total Returns - T. Rowe Price Institutional Large-Cap Growth Fund
1 Year
5 Years
10 Years
Inception date
T. Rowe Price Institutional Large-Cap Growth Fund 37.82% 19.63% 11.60% Oct. 31, 2001
T. Rowe Price Institutional Large-Cap Growth Fund | Returns after taxes on distributions 35.00% 18.34% 10.98% Oct. 31, 2001
T. Rowe Price Institutional Large-Cap Growth Fund | Returns after taxes on distributions and sale of fund shares 23.65% 15.79% 9.56% Oct. 31, 2001
Russell 1000 Growth Index (reflects no deduction for fees, expenses, or taxes) 30.21% 17.33% 10.00%  
Lipper Large-Cap Growth Funds Index 31.85% 15.90% 8.20%  
Updated performance information is available through troweprice.com.

XML 14 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName T. Rowe Price Institutional Equity Funds, Inc.
Prospectus Date rr_ProspectusDate May 01, 2018
T. Rowe Price Institutional Large-Cap Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading T. Rowe Price

Institutional Large-Cap Growth Fund

SUMMARY
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The fund seeks to provide long-term capital appreciation through investments in common stocks of growth companies.
Expense [Heading] rr_ExpenseHeading Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 36.1% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 36.10%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Investments, Risks, and Performance

Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock In taking a growth approach to stock selection, the fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in the common stocks of large-cap companies. The fund defines a large-cap company as one whose market capitalization is larger than the median market capitalization of companies in the Russell 1000 Growth Index, a widely used benchmark of the largest U.S. growth stocks. As of December 31, 2017, the median market capitalization of companies in the Russell 1000 Growth Index was approximately $11.8 billion. The market capitalizations of the companies in the fund’s portfolio and the Russell index change over time; the fund will not automatically sell or cease to purchase stock of a company it already owns just because the company’s market capitalization falls below the median market capitalization of companies in the Russell index. The fund may at times invest significantly in certain sectors, such as the information technology sector.

We generally look for companies with an above-average rate of earnings and cash flow growth and a lucrative niche in the economy that gives them the ability to sustain earnings momentum even during times of slow economic growth. As growth investors, we believe that when a company increases its earnings faster than both inflation and the overall economy, the market will eventually reward it with a higher stock price.

The fund is “nondiversified,” meaning it may invest a greater portion of its assets in a single issuer and own more of the issuer’s voting securities than is permissible for a “diversified” fund.

In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objective.

The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the stock market or because of factors that affect a particular company or industry.

Emerging markets risks The risks of foreign investing are heightened for securities of issuers in emerging market countries. Emerging market countries tend to have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries. In addition to all of the risks of investing in foreign developed markets, emerging markets are more susceptible to governmental interference, local taxes being imposed on foreign investments, restrictions on gaining access to sales proceeds, and less liquid and less efficient trading markets.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund’s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market.

Market capitalization risks Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Securities issued by large-cap companies tend to be less volatile than securities issued by smaller companies. However, larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges.

Sector concentration risks At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the information technology sector. Companies in the information technology sector can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences.

Nondiversification risks As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The fund’s share price can be expected to fluctuate more than that of a comparable diversified fund.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.
Risk Lose Money [Text] rr_RiskLoseMoney The fund’s share price fluctuates, which means you could lose money by investing in the fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus Nondiversification risks As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The fund’s share price can be expected to fluctuate more than that of a comparable diversified fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following performance information provides some indication of the risks of investing in the fund.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.

The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress troweprice.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Institutional Large-Cap Growth Fund
Calendar Year Returns
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             6/30/09             19.94%      Worst Quarter            12/31/08            -22.72%
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns

Periods ended
December 31, 2017
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock Updated performance information is available through troweprice.com.
T. Rowe Price Institutional Large-Cap Growth Fund | T. Rowe Price Institutional Large-Cap Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Management fees rr_ManagementFeesOverAssets 0.55%
Other expenses rr_OtherExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.56%
1 year rr_ExpenseExampleYear01 $ 57
3 years rr_ExpenseExampleYear03 179
5 years rr_ExpenseExampleYear05 313
10 years rr_ExpenseExampleYear10 $ 701
2008 rr_AnnualReturn2008 (40.86%)
2009 rr_AnnualReturn2009 53.40%
2010 rr_AnnualReturn2010 16.29%
2011 rr_AnnualReturn2011 (1.40%)
2012 rr_AnnualReturn2012 17.55%
2013 rr_AnnualReturn2013 44.44%
2014 rr_AnnualReturn2014 8.72%
2015 rr_AnnualReturn2015 10.08%
2016 rr_AnnualReturn2016 2.85%
2017 rr_AnnualReturn2017 37.82%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.94%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (22.72%)
1 Year rr_AverageAnnualReturnYear01 37.82%
5 Years rr_AverageAnnualReturnYear05 19.63%
10 Years rr_AverageAnnualReturnYear10 11.60%
Inception date rr_AverageAnnualReturnInceptionDate Oct. 31, 2001
T. Rowe Price Institutional Large-Cap Growth Fund | Returns after taxes on distributions | T. Rowe Price Institutional Large-Cap Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 35.00%
5 Years rr_AverageAnnualReturnYear05 18.34%
10 Years rr_AverageAnnualReturnYear10 10.98%
Inception date rr_AverageAnnualReturnInceptionDate Oct. 31, 2001
T. Rowe Price Institutional Large-Cap Growth Fund | Returns after taxes on distributions and sale of fund shares | T. Rowe Price Institutional Large-Cap Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 23.65%
5 Years rr_AverageAnnualReturnYear05 15.79%
10 Years rr_AverageAnnualReturnYear10 9.56%
Inception date rr_AverageAnnualReturnInceptionDate Oct. 31, 2001
T. Rowe Price Institutional Large-Cap Growth Fund | Russell 1000 Growth Index (reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 30.21%
5 Years rr_AverageAnnualReturnYear05 17.33%
10 Years rr_AverageAnnualReturnYear10 10.00%
T. Rowe Price Institutional Large-Cap Growth Fund | Lipper Large-Cap Growth Funds Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 31.85%
5 Years rr_AverageAnnualReturnYear05 15.90%
10 Years rr_AverageAnnualReturnYear10 8.20%
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T. Rowe Price Institutional Large-Cap Value Fund
T. Rowe Price

Institutional Large-Cap Value Fund

SUMMARY
Investment Objective
The fund seeks to provide long-term capital appreciation by investing in common stocks believed to be undervalued.
Income is a secondary objective.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Annual Fund Operating Expenses
T. Rowe Price Institutional Large-Cap Value Fund
T. Rowe Price Institutional Large-Cap Value Fund
Management fees 0.55%
Other expenses 0.02%
Total annual fund operating expenses 0.57%
Example
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 year
3 years
5 years
10 years
T. Rowe Price Institutional Large-Cap Value Fund | T. Rowe Price Institutional Large-Cap Value Fund | USD ($) 58 183 318 714
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 30.8% of the average value of its portfolio.
Investments, Risks, and Performance

Principal Investment Strategies
In taking a value approach to investment selection, the fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in securities of large-cap companies that the portfolio manager regards as undervalued. The fund defines a large-cap company as having a market capitalization that, at the time of purchase, is either (i) larger than the current median market capitalization of companies in the Russell 1000 Value Index or (ii) larger than the three year average median market capitalization of companies in the index as of December 31 of the three preceding years. The Russell 1000 Value Index is a widely used benchmark of the largest U.S. value stocks. As of December 31, 2017, the median market capitalization for the Russell 1000 Value Index was approximately $9.8 billion. The market capitalizations of the companies in the fund’s portfolio and the Russell index change over time; the fund will not automatically sell or cease to purchase stock of a company it owns just because the company’s market capitalization falls below these levels. The fund may also purchase stocks of smaller companies. The fund may at times invest significantly in certain sectors, such as the financials sector.

Our in-house research team seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation. In selecting investments, we generally look for one or more of the following:
  • low price/earnings, price/book value, price/sales, or price/cash flow ratios relative to the Russell 1000 Value Index, the company’s peers, or its own historical norm;
  • low stock price relative to a company’s underlying asset values;
  • companies that may benefit from restructuring activity; and/or
  • a sound balance sheet and other positive financial characteristics.
In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objective.

The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
Principal Risks
As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund’s value approach to investing could cause it to underperform other stock funds that employ a different investment style. The intrinsic value of a stock with value characteristics may not be fully recognized by the market for a long time or a stock judged to be undervalued may actually be appropriately priced at a low level.

Market capitalization risks Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Securities issued by large-cap companies tend to be less volatile than securities issued by smaller companies. However, larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund’s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors.

Sector concentration risks At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the financials sectors. Companies in the financials sector may be adversely impacted by, among other things, regulatory changes, economic conditions, interest rates, credit rating downgrades, and decreased liquidity in credit markets.
Performance
The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Institutional Large-Cap Value Fund
Calendar Year Returns
Bar Chart
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             6/30/09             20.20%      Worst Quarter            12/31/08            -23.77%
The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Average Annual Total Returns

Periods ended
December 31, 2017
Average Annual Total Returns - T. Rowe Price Institutional Large-Cap Value Fund
1 Year
5 Years
10 Years
Inception date
T. Rowe Price Institutional Large-Cap Value Fund 16.83% 14.75% 7.93% Mar. 31, 2000
T. Rowe Price Institutional Large-Cap Value Fund | Returns after taxes on distributions 15.56% 13.74% 7.29% Mar. 31, 2000
T. Rowe Price Institutional Large-Cap Value Fund | Returns after taxes on distributions and sale of fund shares 10.57% 11.74% 6.36% Mar. 31, 2000
Russell 1000 Value Index (reflects no deduction for fees, expenses, or taxes) 13.66% 14.04% 7.10%  
Lipper Large-Cap Value Funds Index 16.06% 13.99% 6.86%  
Updated performance information is available through troweprice.com.
XML 17 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName T. Rowe Price Institutional Equity Funds, Inc.
Prospectus Date rr_ProspectusDate May 01, 2018
T. Rowe Price Institutional Large-Cap Value Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading T. Rowe Price

Institutional Large-Cap Value Fund

SUMMARY
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The fund seeks to provide long-term capital appreciation by investing in common stocks believed to be undervalued.
Objective, Secondary [Text Block] rr_ObjectiveSecondaryTextBlock Income is a secondary objective.
Expense [Heading] rr_ExpenseHeading Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 30.8% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 30.80%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Investments, Risks, and Performance

Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock In taking a value approach to investment selection, the fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in securities of large-cap companies that the portfolio manager regards as undervalued. The fund defines a large-cap company as having a market capitalization that, at the time of purchase, is either (i) larger than the current median market capitalization of companies in the Russell 1000 Value Index or (ii) larger than the three year average median market capitalization of companies in the index as of December 31 of the three preceding years. The Russell 1000 Value Index is a widely used benchmark of the largest U.S. value stocks. As of December 31, 2017, the median market capitalization for the Russell 1000 Value Index was approximately $9.8 billion. The market capitalizations of the companies in the fund’s portfolio and the Russell index change over time; the fund will not automatically sell or cease to purchase stock of a company it owns just because the company’s market capitalization falls below these levels. The fund may also purchase stocks of smaller companies. The fund may at times invest significantly in certain sectors, such as the financials sector.

Our in-house research team seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation. In selecting investments, we generally look for one or more of the following:
  • low price/earnings, price/book value, price/sales, or price/cash flow ratios relative to the Russell 1000 Value Index, the company’s peers, or its own historical norm;
  • low stock price relative to a company’s underlying asset values;
  • companies that may benefit from restructuring activity; and/or
  • a sound balance sheet and other positive financial characteristics.
In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objective.

The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund’s value approach to investing could cause it to underperform other stock funds that employ a different investment style. The intrinsic value of a stock with value characteristics may not be fully recognized by the market for a long time or a stock judged to be undervalued may actually be appropriately priced at a low level.

Market capitalization risks Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Securities issued by large-cap companies tend to be less volatile than securities issued by smaller companies. However, larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund’s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors.

Sector concentration risks At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the financials sectors. Companies in the financials sector may be adversely impacted by, among other things, regulatory changes, economic conditions, interest rates, credit rating downgrades, and decreased liquidity in credit markets.
Risk Lose Money [Text] rr_RiskLoseMoney The fund’s share price fluctuates, which means you could lose money by investing in the fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following performance information provides some indication of the risks of investing in the fund.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.

The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress troweprice.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Institutional Large-Cap Value Fund
Calendar Year Returns
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             6/30/09             20.20%      Worst Quarter            12/31/08            -23.77%
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns

Periods ended
December 31, 2017
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock Updated performance information is available through troweprice.com.
T. Rowe Price Institutional Large-Cap Value Fund | T. Rowe Price Institutional Large-Cap Value Fund  
Risk/Return: rr_RiskReturnAbstract  
Management fees rr_ManagementFeesOverAssets 0.55%
Other expenses rr_OtherExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 0.57%
1 year rr_ExpenseExampleYear01 $ 58
3 years rr_ExpenseExampleYear03 183
5 years rr_ExpenseExampleYear05 318
10 years rr_ExpenseExampleYear10 $ 714
2008 rr_AnnualReturn2008 (36.17%)
2009 rr_AnnualReturn2009 28.09%
2010 rr_AnnualReturn2010 13.27%
2011 rr_AnnualReturn2011 (1.19%)
2012 rr_AnnualReturn2012 17.85%
2013 rr_AnnualReturn2013 33.98%
2014 rr_AnnualReturn2014 13.13%
2015 rr_AnnualReturn2015 (3.32%)
2016 rr_AnnualReturn2016 16.20%
2017 rr_AnnualReturn2017 16.83%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 20.20%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (23.77%)
1 Year rr_AverageAnnualReturnYear01 16.83%
5 Years rr_AverageAnnualReturnYear05 14.75%
10 Years rr_AverageAnnualReturnYear10 7.93%
Inception date rr_AverageAnnualReturnInceptionDate Mar. 31, 2000
T. Rowe Price Institutional Large-Cap Value Fund | Returns after taxes on distributions | T. Rowe Price Institutional Large-Cap Value Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 15.56%
5 Years rr_AverageAnnualReturnYear05 13.74%
10 Years rr_AverageAnnualReturnYear10 7.29%
Inception date rr_AverageAnnualReturnInceptionDate Mar. 31, 2000
T. Rowe Price Institutional Large-Cap Value Fund | Returns after taxes on distributions and sale of fund shares | T. Rowe Price Institutional Large-Cap Value Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.57%
5 Years rr_AverageAnnualReturnYear05 11.74%
10 Years rr_AverageAnnualReturnYear10 6.36%
Inception date rr_AverageAnnualReturnInceptionDate Mar. 31, 2000
T. Rowe Price Institutional Large-Cap Value Fund | Russell 1000 Value Index (reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 13.66%
5 Years rr_AverageAnnualReturnYear05 14.04%
10 Years rr_AverageAnnualReturnYear10 7.10%
T. Rowe Price Institutional Large-Cap Value Fund | Lipper Large-Cap Value Funds Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 16.06%
5 Years rr_AverageAnnualReturnYear05 13.99%
10 Years rr_AverageAnnualReturnYear10 6.86%
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T. Rowe Price Institutional Mid-Cap Equity Growth Fund
T. Rowe Price

Institutional Mid-Cap Equity Growth Fund

SUMMARY
Investment Objective
The fund seeks to provide long-term capital appreciation by investing in mid-cap stocks with potential for above-average earnings growth.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Annual Fund Operating Expenses
T. Rowe Price Institutional Mid-Cap Equity Growth Fund
T. Rowe Price Institutional Mid-Cap Equity Growth Fund
Management fees 0.60%
Other expenses 0.01%
Total annual fund operating expenses 0.61%
Example
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 year
3 years
5 years
10 years
T. Rowe Price Institutional Mid-Cap Equity Growth Fund | T. Rowe Price Institutional Mid-Cap Equity Growth Fund | USD ($) 62 195 340 762
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 31.1% of the average value of its portfolio.
Investments, Risks, and Performance

Principal Investment Strategies
The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in a diversified portfolio of common stocks of mid-cap companies whose earnings T. Rowe Price expects to grow at a faster rate than the average company. The fund defines mid-cap companies as those whose market capitalization (number of shares outstanding multiplied by share price) falls within the range of either the S&P MidCap 400 Index or the Russell Midcap Growth Index. As of December 31, 2017, the market capitalization ranges for the S&P MidCap 400 Index and the Russell Midcap Growth Index were approximately $946 million to $13.1 billion, and $1.2 billion to $36.7 billion, respectively. The market capitalization of the companies in the fund’s portfolio and the S&P and Russell indices changes over time; the fund will not automatically sell or cease to purchase stock of a company it holds just because the company’s market capitalization grows or falls outside these ranges. The fund may at times invest significantly in certain sectors, such as the information technology sector.

As “growth” investors, T. Rowe Price believes that when a company’s earnings grow faster than both inflation and the overall economy, the market will eventually reward it with a higher stock price.

In selecting investments, we generally favor companies with one or more of the following:
  • proven products or services;
  • a record of above-average earnings growth;
  • demonstrated potential to sustain earnings growth;
  • connection to an industry experiencing increasing demand; or
  • stock prices that appear to undervalue their growth prospects.
In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objective.

The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
Principal Risks
As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.

Mid-cap stock risks Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the fund invests primarily in securities issued by mid-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by large companies. Medium-sized companies may have less seasoned management, narrower product lines, and less capital reserves and liquidity than larger companies, and are therefore more sensitive to economic, market, and industry changes.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund’s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund’s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors.

Sector concentration risks At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the information technology sector. Companies in the information technology sector can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences.
Performance
The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Institutional Mid-Cap Equity Growth Fund
Calendar Year Returns
Bar Chart
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             9/30/09             19.76%      Worst Quarter            12/31/08            -25.87%
The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Average Annual Total Returns

Periods ended
December 31, 2017
Average Annual Total Returns - T. Rowe Price Institutional Mid-Cap Equity Growth Fund
1 Year
5 Years
10 Years
Inception date
T. Rowe Price Institutional Mid-Cap Equity Growth Fund 26.02% 17.73% 11.16% Jul. 31, 1996
T. Rowe Price Institutional Mid-Cap Equity Growth Fund | Returns after taxes on distributions 24.24% 16.39% 10.39% Jul. 31, 1996
T. Rowe Price Institutional Mid-Cap Equity Growth Fund | Returns after taxes on distributions and sale of fund shares 16.18% 14.13% 9.09% Jul. 31, 1996
Russell Midcap Growth Index (reflects no deduction for fees, expenses, or taxes) 25.27% 15.30% 9.10%  
Lipper Mid-Cap Growth Funds Index 25.90% 14.31% 7.71%  
Updated performance information is available through troweprice.com.

XML 20 R25.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName T. Rowe Price Institutional Equity Funds, Inc.
Prospectus Date rr_ProspectusDate May 01, 2018
T. Rowe Price Institutional Mid-Cap Equity Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading T. Rowe Price

Institutional Mid-Cap Equity Growth Fund

SUMMARY
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The fund seeks to provide long-term capital appreciation by investing in mid-cap stocks with potential for above-average earnings growth.
Expense [Heading] rr_ExpenseHeading Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 31.1% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 31.10%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Investments, Risks, and Performance

Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in a diversified portfolio of common stocks of mid-cap companies whose earnings T. Rowe Price expects to grow at a faster rate than the average company. The fund defines mid-cap companies as those whose market capitalization (number of shares outstanding multiplied by share price) falls within the range of either the S&P MidCap 400 Index or the Russell Midcap Growth Index. As of December 31, 2017, the market capitalization ranges for the S&P MidCap 400 Index and the Russell Midcap Growth Index were approximately $946 million to $13.1 billion, and $1.2 billion to $36.7 billion, respectively. The market capitalization of the companies in the fund’s portfolio and the S&P and Russell indices changes over time; the fund will not automatically sell or cease to purchase stock of a company it holds just because the company’s market capitalization grows or falls outside these ranges. The fund may at times invest significantly in certain sectors, such as the information technology sector.

As “growth” investors, T. Rowe Price believes that when a company’s earnings grow faster than both inflation and the overall economy, the market will eventually reward it with a higher stock price.

In selecting investments, we generally favor companies with one or more of the following:
  • proven products or services;
  • a record of above-average earnings growth;
  • demonstrated potential to sustain earnings growth;
  • connection to an industry experiencing increasing demand; or
  • stock prices that appear to undervalue their growth prospects.
In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objective.

The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.

Mid-cap stock risks Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the fund invests primarily in securities issued by mid-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by large companies. Medium-sized companies may have less seasoned management, narrower product lines, and less capital reserves and liquidity than larger companies, and are therefore more sensitive to economic, market, and industry changes.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. The fund’s growth approach to investing could cause it to underperform other stock funds that employ a different investment style. Growth stocks tend to be more volatile than certain other types of stocks, and their prices may fluctuate more dramatically than the overall stock market. A stock with growth characteristics can have sharp price declines due to decreases in current or expected earnings and may lack dividends that can help cushion its share price in a declining market.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund’s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors.

Sector concentration risks At times, the fund may have a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector. Companies in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. For example, the fund may have a significant portion of its assets invested in securities of companies in the information technology sector. Companies in the information technology sector can be adversely affected by, among other things, intense competition, earnings disappointments, and rapid obsolescence of products and services due to technological innovations or changing consumer preferences.
Risk Lose Money [Text] rr_RiskLoseMoney The fund’s share price fluctuates, which means you could lose money by investing in the fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following performance information provides some indication of the risks of investing in the fund.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.

The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress troweprice.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Institutional Mid-Cap Equity Growth Fund
Calendar Year Returns
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             9/30/09             19.76%      Worst Quarter            12/31/08            -25.87%
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns

Periods ended
December 31, 2017
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock Updated performance information is available through troweprice.com.
T. Rowe Price Institutional Mid-Cap Equity Growth Fund | T. Rowe Price Institutional Mid-Cap Equity Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Management fees rr_ManagementFeesOverAssets 0.60%
Other expenses rr_OtherExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.61%
1 year rr_ExpenseExampleYear01 $ 62
3 years rr_ExpenseExampleYear03 195
5 years rr_ExpenseExampleYear05 340
10 years rr_ExpenseExampleYear10 $ 762
2008 rr_AnnualReturn2008 (40.59%)
2009 rr_AnnualReturn2009 46.78%
2010 rr_AnnualReturn2010 29.24%
2011 rr_AnnualReturn2011 (1.28%)
2012 rr_AnnualReturn2012 14.50%
2013 rr_AnnualReturn2013 37.89%
2014 rr_AnnualReturn2014 13.79%
2015 rr_AnnualReturn2015 6.94%
2016 rr_AnnualReturn2016 6.94%
2017 rr_AnnualReturn2017 26.02%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.76%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.87%)
1 Year rr_AverageAnnualReturnYear01 26.02%
5 Years rr_AverageAnnualReturnYear05 17.73%
10 Years rr_AverageAnnualReturnYear10 11.16%
Inception date rr_AverageAnnualReturnInceptionDate Jul. 31, 1996
T. Rowe Price Institutional Mid-Cap Equity Growth Fund | Returns after taxes on distributions | T. Rowe Price Institutional Mid-Cap Equity Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 24.24%
5 Years rr_AverageAnnualReturnYear05 16.39%
10 Years rr_AverageAnnualReturnYear10 10.39%
Inception date rr_AverageAnnualReturnInceptionDate Jul. 31, 1996
T. Rowe Price Institutional Mid-Cap Equity Growth Fund | Returns after taxes on distributions and sale of fund shares | T. Rowe Price Institutional Mid-Cap Equity Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 16.18%
5 Years rr_AverageAnnualReturnYear05 14.13%
10 Years rr_AverageAnnualReturnYear10 9.09%
Inception date rr_AverageAnnualReturnInceptionDate Jul. 31, 1996
T. Rowe Price Institutional Mid-Cap Equity Growth Fund | Russell Midcap Growth Index (reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 25.27%
5 Years rr_AverageAnnualReturnYear05 15.30%
10 Years rr_AverageAnnualReturnYear10 9.10%
T. Rowe Price Institutional Mid-Cap Equity Growth Fund | Lipper Mid-Cap Growth Funds Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 25.90%
5 Years rr_AverageAnnualReturnYear05 14.31%
10 Years rr_AverageAnnualReturnYear10 7.71%
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T. Rowe Price Institutional Small-Cap Stock Fund
T. Rowe Price

Institutional Small-Cap

Stock Fund

SUMMARY
Investment Objective
The fund seeks to provide long-term capital growth by investing primarily in stocks of small companies.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Annual Fund Operating Expenses
T. Rowe Price Institutional Small-Cap Stock Fund
T. Rowe Price Institutional Small-Cap Stock Fund
Management fees 0.65%
Other expenses 0.01%
Total annual fund operating expenses 0.66%
Example
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 year
3 years
5 years
10 years
T. Rowe Price Institutional Small-Cap Stock Fund | T. Rowe Price Institutional Small-Cap Stock Fund | USD ($) 67 211 368 822
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 41.6% of the average value of its portfolio.
Investments, Risks, and Performance

Principal Investment Strategies
The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in stocks of small companies. The fund defines a small company as one whose market capitalization falls (i) within or below the current range of companies in either the Russell 2000® Index or the S&P SmallCap 600 Index or (ii) below the three-year average maximum market cap of companies in either index as of December 31 of the three preceding years. The Russell 2000 and S&P SmallCap 600 Indices are widely used benchmarks for tracking small-cap stock performance. As of December 31, 2017, the market capitalization ranges for the Russell 2000 Index and the S&P SmallCap 600 Index were approximately $22.7 million to $9.4 billion, and $95.5 million to $24.4 billion, respectively. The market capitalizations of the companies in the fund’s portfolio and the S&P and Russell indexes change over time; the fund will not automatically sell or cease to purchase stock of a company it already owns just because the company’s market capitalization grows or falls outside this range. The fund may, on occasion, purchase companies with a market capitalization above the ranges. When choosing stocks, we generally look for one or more of the following characteristics:
  • capable management;
  • attractive business niches;
  • pricing flexibility;
  • sound financial and accounting practices;
  • a potential or demonstrated ability to grow revenues, earnings, and cash flow consistently; and
  • the potential for a catalyst (such as increased investor attention, asset sales, strong business prospects, or a change in management) to cause the stock’s price to rise.
Holdings will be widely diversified by industry and issuer, and stock selection may reflect either a growth or value investment approach. For example, we may look for a company whose price/earnings ratio is attractive relative to the underlying earnings growth rate. A value stock would be one where the stock price appears undervalued in relation to earnings, projected cash flow, or asset value per share.

In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objective.

The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
Principal Risks
As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. Because the fund may hold stocks with either growth or value characteristics, it could underperform other stock funds that take a strictly growth or value approach to investing when one style is currently in favor. Growth stocks tend to be more volatile than the overall stock market and can have sharp price declines as a result of earnings disappointments. Value stocks carry the risk that the market will not recognize their intrinsic value or that they are actually appropriately priced at a low level.

Small-cap stock risks Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the fund invests primarily in securities issued by small-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by larger companies. Small companies often have less experienced management, narrower product lines, more limited financial resources, and less publicly available information than larger companies. In addition, smaller companies are typically more sensitive to changes in overall economic conditions and their securities may be difficult to trade.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund’s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors.
Performance
The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Institutional Small-Cap Stock Fund
Calendar Year Returns
Bar Chart
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             6/30/09             21.71%      Worst Quarter            12/31/08            -23.90%
The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Average Annual Total Returns

Periods ended
December 31, 2017
Average Annual Total Returns - T. Rowe Price Institutional Small-Cap Stock Fund
1 Year
5 Years
10 Years
Inception date
T. Rowe Price Institutional Small-Cap Stock Fund 15.45% 14.83% 11.39% Mar. 31, 2000
T. Rowe Price Institutional Small-Cap Stock Fund | Returns after taxes on distributions 13.53% 13.48% 10.48% Mar. 31, 2000
T. Rowe Price Institutional Small-Cap Stock Fund | Returns after taxes on distributions and sale of fund shares 9.90% 11.67% 9.28% Mar. 31, 2000
Russell 2000 Index (reflects no deduction for fees, expenses, or taxes) 14.65% 14.12% 8.71%  
S&P SmallCap 600 Index (reflects no deduction for fees, expenses, or taxes) 13.23% 15.99% 10.43%  
Lipper Small-Cap Core Funds Index 13.95% 13.64% 8.69%  
Updated performance information is available through troweprice.com.
XML 23 R31.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName T. Rowe Price Institutional Equity Funds, Inc.
Prospectus Date rr_ProspectusDate May 01, 2018
T. Rowe Price Institutional Small-Cap Stock Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading T. Rowe Price

Institutional Small-Cap

Stock Fund

SUMMARY
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The fund seeks to provide long-term capital growth by investing primarily in stocks of small companies.
Expense [Heading] rr_ExpenseHeading Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 41.6% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 41.60%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Investments, Risks, and Performance

Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in stocks of small companies. The fund defines a small company as one whose market capitalization falls (i) within or below the current range of companies in either the Russell 2000® Index or the S&P SmallCap 600 Index or (ii) below the three-year average maximum market cap of companies in either index as of December 31 of the three preceding years. The Russell 2000 and S&P SmallCap 600 Indices are widely used benchmarks for tracking small-cap stock performance. As of December 31, 2017, the market capitalization ranges for the Russell 2000 Index and the S&P SmallCap 600 Index were approximately $22.7 million to $9.4 billion, and $95.5 million to $24.4 billion, respectively. The market capitalizations of the companies in the fund’s portfolio and the S&P and Russell indexes change over time; the fund will not automatically sell or cease to purchase stock of a company it already owns just because the company’s market capitalization grows or falls outside this range. The fund may, on occasion, purchase companies with a market capitalization above the ranges. When choosing stocks, we generally look for one or more of the following characteristics:
  • capable management;
  • attractive business niches;
  • pricing flexibility;
  • sound financial and accounting practices;
  • a potential or demonstrated ability to grow revenues, earnings, and cash flow consistently; and
  • the potential for a catalyst (such as increased investor attention, asset sales, strong business prospects, or a change in management) to cause the stock’s price to rise.
Holdings will be widely diversified by industry and issuer, and stock selection may reflect either a growth or value investment approach. For example, we may look for a company whose price/earnings ratio is attractive relative to the underlying earnings growth rate. A value stock would be one where the stock price appears undervalued in relation to earnings, projected cash flow, or asset value per share.

In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund’s objective.

The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. Because the fund may hold stocks with either growth or value characteristics, it could underperform other stock funds that take a strictly growth or value approach to investing when one style is currently in favor. Growth stocks tend to be more volatile than the overall stock market and can have sharp price declines as a result of earnings disappointments. Value stocks carry the risk that the market will not recognize their intrinsic value or that they are actually appropriately priced at a low level.

Small-cap stock risks Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the fund invests primarily in securities issued by small-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by larger companies. Small companies often have less experienced management, narrower product lines, more limited financial resources, and less publicly available information than larger companies. In addition, smaller companies are typically more sensitive to changes in overall economic conditions and their securities may be difficult to trade.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. These risks are heightened for the fund’s investments in emerging markets, which are more susceptible to governmental interference, less efficient trading markets, and the imposition of local taxes or restrictions on gaining access to sales proceeds for foreign investors.
Risk Lose Money [Text] rr_RiskLoseMoney The fund’s share price fluctuates, which means you could lose money by investing in the fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following performance information provides some indication of the risks of investing in the fund.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.

The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress troweprice.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Institutional Small-Cap Stock Fund
Calendar Year Returns
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             6/30/09             21.71%      Worst Quarter            12/31/08            -23.90%
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns

Periods ended
December 31, 2017
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock Updated performance information is available through troweprice.com.
T. Rowe Price Institutional Small-Cap Stock Fund | T. Rowe Price Institutional Small-Cap Stock Fund  
Risk/Return: rr_RiskReturnAbstract  
Management fees rr_ManagementFeesOverAssets 0.65%
Other expenses rr_OtherExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.66%
1 year rr_ExpenseExampleYear01 $ 67
3 years rr_ExpenseExampleYear03 211
5 years rr_ExpenseExampleYear05 368
10 years rr_ExpenseExampleYear10 $ 822
2008 rr_AnnualReturn2008 (33.10%)
2009 rr_AnnualReturn2009 39.22%
2010 rr_AnnualReturn2010 32.96%
2011 rr_AnnualReturn2011 0.22%
2012 rr_AnnualReturn2012 18.68%
2013 rr_AnnualReturn2013 39.56%
2014 rr_AnnualReturn2014 7.42%
2015 rr_AnnualReturn2015 (3.07%)
2016 rr_AnnualReturn2016 19.00%
2017 rr_AnnualReturn2017 15.45%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 21.71%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (23.90%)
1 Year rr_AverageAnnualReturnYear01 15.45%
5 Years rr_AverageAnnualReturnYear05 14.83%
10 Years rr_AverageAnnualReturnYear10 11.39%
Inception date rr_AverageAnnualReturnInceptionDate Mar. 31, 2000
T. Rowe Price Institutional Small-Cap Stock Fund | Returns after taxes on distributions | T. Rowe Price Institutional Small-Cap Stock Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 13.53%
5 Years rr_AverageAnnualReturnYear05 13.48%
10 Years rr_AverageAnnualReturnYear10 10.48%
Inception date rr_AverageAnnualReturnInceptionDate Mar. 31, 2000
T. Rowe Price Institutional Small-Cap Stock Fund | Returns after taxes on distributions and sale of fund shares | T. Rowe Price Institutional Small-Cap Stock Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.90%
5 Years rr_AverageAnnualReturnYear05 11.67%
10 Years rr_AverageAnnualReturnYear10 9.28%
Inception date rr_AverageAnnualReturnInceptionDate Mar. 31, 2000
T. Rowe Price Institutional Small-Cap Stock Fund | Russell 2000 Index (reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 14.65%
5 Years rr_AverageAnnualReturnYear05 14.12%
10 Years rr_AverageAnnualReturnYear10 8.71%
T. Rowe Price Institutional Small-Cap Stock Fund | S&P SmallCap 600 Index (reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 13.23%
5 Years rr_AverageAnnualReturnYear05 15.99%
10 Years rr_AverageAnnualReturnYear10 10.43%
T. Rowe Price Institutional Small-Cap Stock Fund | Lipper Small-Cap Core Funds Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 13.95%
5 Years rr_AverageAnnualReturnYear05 13.64%
10 Years rr_AverageAnnualReturnYear10 8.69%
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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName T. Rowe Price Institutional Equity Funds, Inc.
Prospectus Date rr_ProspectusDate May 01, 2018
T. Rowe Price Institutional U.S. Structured Research Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading T. Rowe Price

Institutional U.S. Structured

Research Fund

SUMMARY
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The fund seeks to provide long-term capital growth by investing primarily in U.S. common stocks.
Expense [Heading] rr_ExpenseHeading Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 36.4% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 36.40%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Investments, Risks, and Performance

Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The strategy attempts to create a portfolio with similar characteristics to the Standard & Poor’s 500 Stock Index® (S&P 500 Index) with the potential to provide excess returns relative to the Index. The fund uses a disciplined portfolio construction process whereby it weights each sector and industry approximately the same as the S&P 500 Index. Within each sector and industry, the weighting of individual fund holdings can vary significantly from their weighting within the S&P 500 Index. The fund, which may be considered an “enhanced index” fund, attempts to outperform the S&P 500 Index by overweighting those stocks that are viewed favorably relative to their weighting in the Index, and underweighting or avoiding those stocks that are viewed negatively. The fund may also purchase stocks that are not in the S&P 500 Index, but at least 80% of the fund’s total assets will normally be invested in stocks that are in the S&P 500 Index at the time of purchase.

A portfolio oversight team is responsible for the overall structure of the fund and for developing rules for portfolio construction. The portfolio oversight team seeks to take advantage of T. Rowe Price’s fundamental research by assigning equity analysts to select stocks for the fund within industries where they have focused expertise. The equity analysts are directly responsible for selecting stocks and determining the stocks’ weights within their industry-specific portfolios. The analysts actively select stocks from the industries they cover based on fundamental research, which considers various factors such as the quality of a company’s management team and its business franchise, earnings growth potential of a company and its market sector, and valuation. The fund’s portfolio oversight team maintains responsibility for evaluating the performance of the overall portfolio and the analysts’ stock selections, tracking and aligning the fund’s risk characteristics with those of the S&P 500 Index, monitoring the portfolio’s exposures to industries and sectors, managing cash flows into and out of the fund, and ensuring overall compliance by the analysts with the fund’s portfolio construction principles. The portfolio oversight team is responsible for selecting stocks that meet the fund’s investment criteria, but have not yet been assigned to an analyst.

Because the fund is designed to have similar characteristics to the S&P 500 Index, there is expected to be a relatively close correlation between the fund’s performance and the performance of the Index in both rising and falling markets. However, when compared to a fund that follows a strict indexing strategy, there is a much greater chance that the fund’s performance will deviate from the Index (referred to as “tracking error”) and the potential for higher portfolio turnover, which increases the possibility of taxable distributions to shareholders and results in higher transaction costs to the fund.

The fund will generally remain fully invested (less than 5% in cash reserves) and seeks to be sector neutral when compared to the S&P 500 Index. While the majority of assets will be invested in large-capitalization U.S. common stocks, small- and mid-capitalization and foreign stocks may also be purchased in keeping with fund objectives. Securities may be sold for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. The fund may at times invest significantly in certain sectors, such as the information technology sector.

In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. Because the fund may hold stocks with either growth or value characteristics, it could underperform other stock funds that take a strictly growth or value approach to investing when one style is currently in favor. Growth stocks tend to be more volatile than the overall stock market and can have sharp price declines as a result of earnings disappointments. Value stocks carry the risk that the market will not recognize their intrinsic value or that they are actually appropriately priced at a low level.

Market capitalization risks The fund’s focus on large companies subjects the fund to the risks that larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and that they may be less capable of responding quickly to competitive challenges and industry changes. Because the fund may invest in companies of any size, its share price could be more volatile than a fund that invests only in large companies. Small and medium-sized companies typically have less experienced management, narrower product lines, more limited financial resources, and less publicly available information than larger companies.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.
Risk Lose Money [Text] rr_RiskLoseMoney The fund’s share price fluctuates, which means you could lose money by investing in the fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following performance information provides some indication of the risks of investing in the fund.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.

The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress troweprice.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Institutional U.S. Structured Research Fund
Calendar Year Returns
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             6/30/09             16.73%      Worst Quarter            12/31/08            -21.79%
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns

Periods ended
December 31, 2017
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock Updated performance information is available through troweprice.com.
T. Rowe Price Institutional U.S. Structured Research Fund | T. Rowe Price Institutional U.S. Structured Research Fund  
Risk/Return: rr_RiskReturnAbstract  
Management fees rr_ManagementFeesOverAssets 0.50%
Other expenses rr_OtherExpensesOverAssets 0.05%
Total annual fund operating expenses rr_ExpensesOverAssets 0.55%
1 year rr_ExpenseExampleYear01 $ 56
3 years rr_ExpenseExampleYear03 176
5 years rr_ExpenseExampleYear05 307
10 years rr_ExpenseExampleYear10 $ 689
2008 rr_AnnualReturn2008 (36.32%)
2009 rr_AnnualReturn2009 29.42%
2010 rr_AnnualReturn2010 13.60%
2011 rr_AnnualReturn2011 1.42%
2012 rr_AnnualReturn2012 16.22%
2013 rr_AnnualReturn2013 32.86%
2014 rr_AnnualReturn2014 12.35%
2015 rr_AnnualReturn2015 2.94%
2016 rr_AnnualReturn2016 10.37%
2017 rr_AnnualReturn2017 23.81%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.73%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (21.79%)
1 Year rr_AverageAnnualReturnYear01 23.81%
5 Years rr_AverageAnnualReturnYear05 15.99%
10 Years rr_AverageAnnualReturnYear10 8.77%
Inception date rr_AverageAnnualReturnInceptionDate Oct. 31, 2007
T. Rowe Price Institutional U.S. Structured Research Fund | Returns after taxes on distributions | T. Rowe Price Institutional U.S. Structured Research Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 20.26%
5 Years rr_AverageAnnualReturnYear05 13.52%
10 Years rr_AverageAnnualReturnYear10 7.48%
Inception date rr_AverageAnnualReturnInceptionDate Oct. 31, 2007
T. Rowe Price Institutional U.S. Structured Research Fund | Returns after taxes on distributions and sale of fund shares | T. Rowe Price Institutional U.S. Structured Research Fund  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 16.24%
5 Years rr_AverageAnnualReturnYear05 12.48%
10 Years rr_AverageAnnualReturnYear10 6.94%
Inception date rr_AverageAnnualReturnInceptionDate Oct. 31, 2007
T. Rowe Price Institutional U.S. Structured Research Fund | S&P 500 Index (reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.83%
5 Years rr_AverageAnnualReturnYear05 15.79%
10 Years rr_AverageAnnualReturnYear10 8.50%
T. Rowe Price Institutional U.S. Structured Research Fund | Lipper Large-Cap Core Funds Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 20.90%
5 Years rr_AverageAnnualReturnYear05 14.63%
10 Years rr_AverageAnnualReturnYear10 7.58%
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T. Rowe Price Institutional U.S. Structured Research Fund
T. Rowe Price

Institutional U.S. Structured

Research Fund

SUMMARY
Investment Objective
The fund seeks to provide long-term capital growth by investing primarily in U.S. common stocks.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table.
Fees and Expenses of the Fund

Annual fund operating expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Annual Fund Operating Expenses
T. Rowe Price Institutional U.S. Structured Research Fund
T. Rowe Price Institutional U.S. Structured Research Fund
Management fees 0.50%
Other expenses 0.05%
Total annual fund operating expenses 0.55%
Example
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 year
3 years
5 years
10 years
T. Rowe Price Institutional U.S. Structured Research Fund | T. Rowe Price Institutional U.S. Structured Research Fund | USD ($) 56 176 307 689
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 36.4% of the average value of its portfolio.
Investments, Risks, and Performance

Principal Investment Strategies
The strategy attempts to create a portfolio with similar characteristics to the Standard & Poor’s 500 Stock Index® (S&P 500 Index) with the potential to provide excess returns relative to the Index. The fund uses a disciplined portfolio construction process whereby it weights each sector and industry approximately the same as the S&P 500 Index. Within each sector and industry, the weighting of individual fund holdings can vary significantly from their weighting within the S&P 500 Index. The fund, which may be considered an “enhanced index” fund, attempts to outperform the S&P 500 Index by overweighting those stocks that are viewed favorably relative to their weighting in the Index, and underweighting or avoiding those stocks that are viewed negatively. The fund may also purchase stocks that are not in the S&P 500 Index, but at least 80% of the fund’s total assets will normally be invested in stocks that are in the S&P 500 Index at the time of purchase.

A portfolio oversight team is responsible for the overall structure of the fund and for developing rules for portfolio construction. The portfolio oversight team seeks to take advantage of T. Rowe Price’s fundamental research by assigning equity analysts to select stocks for the fund within industries where they have focused expertise. The equity analysts are directly responsible for selecting stocks and determining the stocks’ weights within their industry-specific portfolios. The analysts actively select stocks from the industries they cover based on fundamental research, which considers various factors such as the quality of a company’s management team and its business franchise, earnings growth potential of a company and its market sector, and valuation. The fund’s portfolio oversight team maintains responsibility for evaluating the performance of the overall portfolio and the analysts’ stock selections, tracking and aligning the fund’s risk characteristics with those of the S&P 500 Index, monitoring the portfolio’s exposures to industries and sectors, managing cash flows into and out of the fund, and ensuring overall compliance by the analysts with the fund’s portfolio construction principles. The portfolio oversight team is responsible for selecting stocks that meet the fund’s investment criteria, but have not yet been assigned to an analyst.

Because the fund is designed to have similar characteristics to the S&P 500 Index, there is expected to be a relatively close correlation between the fund’s performance and the performance of the Index in both rising and falling markets. However, when compared to a fund that follows a strict indexing strategy, there is a much greater chance that the fund’s performance will deviate from the Index (referred to as “tracking error”) and the potential for higher portfolio turnover, which increases the possibility of taxable distributions to shareholders and results in higher transaction costs to the fund.

The fund will generally remain fully invested (less than 5% in cash reserves) and seeks to be sector neutral when compared to the S&P 500 Index. While the majority of assets will be invested in large-capitalization U.S. common stocks, small- and mid-capitalization and foreign stocks may also be purchased in keeping with fund objectives. Securities may be sold for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. The fund may at times invest significantly in certain sectors, such as the information technology sector.

In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria. These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.
Principal Risks
As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:

Active management risks The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. The fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the fund’s overall investment selections or strategies fail to produce the intended results.

Risks of U.S. stock investing Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry.

Investment style risks Different investment styles tend to shift in and out of favor depending on market conditions and investor sentiment. Because the fund may hold stocks with either growth or value characteristics, it could underperform other stock funds that take a strictly growth or value approach to investing when one style is currently in favor. Growth stocks tend to be more volatile than the overall stock market and can have sharp price declines as a result of earnings disappointments. Value stocks carry the risk that the market will not recognize their intrinsic value or that they are actually appropriately priced at a low level.

Market capitalization risks The fund’s focus on large companies subjects the fund to the risks that larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods, and that they may be less capable of responding quickly to competitive challenges and industry changes. Because the fund may invest in companies of any size, its share price could be more volatile than a fund that invests only in large companies. Small and medium-sized companies typically have less experienced management, narrower product lines, more limited financial resources, and less publicly available information than larger companies.

Foreign investing risks The fund’s investments in foreign securities may be adversely affected by local, political, social, and economic conditions overseas, greater volatility, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.
Performance
The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Institutional U.S. Structured Research Fund
Calendar Year Returns
Bar Chart
  Quarter Ended    Total Return  Quarter Ended     Total Return
Best Quarter             6/30/09             16.73%      Worst Quarter            12/31/08            -21.79%
The following table shows the average annual total returns for the fund, and also compares the returns with the returns of a relevant broad-based market index, as well as with the returns of one or more comparative indexes that have investment characteristics similar to those of the fund.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Average Annual Total Returns

Periods ended
December 31, 2017
Average Annual Total Returns - T. Rowe Price Institutional U.S. Structured Research Fund
1 Year
5 Years
10 Years
Inception date
T. Rowe Price Institutional U.S. Structured Research Fund 23.81% 15.99% 8.77% Oct. 31, 2007
T. Rowe Price Institutional U.S. Structured Research Fund | Returns after taxes on distributions 20.26% 13.52% 7.48% Oct. 31, 2007
T. Rowe Price Institutional U.S. Structured Research Fund | Returns after taxes on distributions and sale of fund shares 16.24% 12.48% 6.94% Oct. 31, 2007
S&P 500 Index (reflects no deduction for fees, expenses, or taxes) 21.83% 15.79% 8.50%  
Lipper Large-Cap Core Funds Index 20.90% 14.63% 7.58%  
Updated performance information is available through troweprice.com.