Stable Value Common Trust Fund-E Quarterly Trust Update as of 9/30/2010
OBJECTIVE INVESTMENT STRATEGY BENEFITS AND RISKS INVESTOR PROFILE
The Trust seeks to provide maximum current l The Trust will invest primarily in l Offers potential stability of principal by l The Trust may be suitable for
income while maintaining stability of Guaranteed Investment Contracts purchasing high-quality GICs, BICs, SICs, retirement plan investors
principal. (GICs), Bank Investment Contracts and SACs, however, there is no assurance seeking high credit quality and
(BICs), Synthetic Investment Contracts that the credit quality of the issuers will current income who can accept
(SICs), and Separate Account Contracts remain the same over the life of the some risk.
(SACs). investment. l Investments in the Trust may
l GICs, BICs, SICs, and SACs are types of l Because such investments are not actively not substantially outpace
investment contracts that are traded in the open market and generally inflation over time, so
Not FDIC-insured. May lose value. No bank must be held until maturity, there is a risk
designed to provide principal stability participants who invest solely in
guarantee. that, like any investment, one or more of
and a competitive yield. this conservative Trust may not
the Trust's holdings could fail to make be able to save enough for their
scheduled interest and principal payments retirement years.
prior to maturity, potentially reducing the
Trust's income level and causing a loss of
l The Trust attempts to minimize such risks
by diversifying its investments by issuer,
quality, and duration.
TRUST MANAGEMENT KEY TRUST DATA RETURNS
Michael J. Wyatt - B.S., Pennsylvania State Assets (millions): $10,364.6 Average Annual Returns
University; M.B.A., Pennsylvania State Stable Value Common Hueler Pooled Fund
University Inception Date: September 12, 1988 Trust Fund-E Universe
Edward A. Wiese - B.S., Yale University; 3 Months 0.96% 0.77%
Trustee Fee:1 0.45% Year-to-Date 2.89 2.32
M.S., Johns Hopkins University; M.B.A., Tuck 1 Year 3.95 3.11
School of Business at Dartmouth Manager tenure:2 11 years 3 Years 4.11 3.76
5 Years 4.16 4.17
Brian J. Brennan - B.S., Trinity College; M.A., 10 Years 4.45 4.66
1 As of 9/30/2010.
2 Number of years managing the strategy. The T. Rowe Price Stable Value Common Trust Fund (the "Trust") is
Jason T. Collins - B.S., Excelsior College;
not a mutual fund. It is a common trust fund established by T.
M.B.A., University of Texas Rowe Price Trust Company under Maryland banking law, and its
units are exempt from registration under the Securities Act of 1933.
Virginia K. Kidd - B.A., SweetBriar College;
Investments in the Trust are not deposits or obligations of, or
M.B.A., University of North Carolina insured or guaranteed by, the U.S. government or its agencies or T.
Rowe Price Trust Company. Although the Trust seeks to preserve
Antonio L. Luna - B.S., Towson University;
the value of your investment at $1.00 per unit, it is possible to lose
M.S., Johns Hopkins University money by investing in the Trust.
Robert A. Madore - B.A., University of Performance figures are shown net of fees and include any
Connecticut changes in principal value and reinvested dividends. All returns are
historical and do not represent future performance.
Cheryl A. Mickel - B.S., University of
Baltimore; M.B.A., Loyola University Portfolio holdings are historical and subject to change. This
material should not be deemed a recommendation to buy or sell
any securities mentioned. When assessing performance, investors
should consider both short-term and long-term returns.
The Hueler Pooled Fund Universe ("Universe") is provided by
Hueler Analytics, a Minnesota-based consulting firm, which has
developed the Universe for use as a comparative database to
evaluate collective trust funds and other pooled vehicles with
investments in GICs and other stable value instruments. The
Universe is comprised of pooled stable value funds with common
investment objectives of stability of principal; the number of
participating funds in the Universe may vary over the different
historic periods. Total return performance is calculated by taking
the straight average of the monthly returns of the funds
About T. Rowe Price Trust Company participating in the Universe during each month which are then
· Maryland-chartered, limited-purpose trust linked to derive the index returns for all other time periods.
company established in 1983 Universe rates of return are reported gross of management fees.
All performance figures for periods over one year are annualized.
· Offers a variety of common trust funds (also
known as collective investment funds)
exclusively to retirement plans and their
· Part of the T. Rowe Price family of companies
Quarterly Trust Update as of 9/30/2010
Stable Value Common Trust Fund-E
More Info about T. Rowe Price
ASSET ALLOCATION MATURITY ALLOCATION
· Founded in 1937
· Commitment to fundamental in-house
research with 182 dedicated analysts
· Portfolio managers have an average tenure
of 14 years with the company
· Strict adherence to investment style
· Solid performance with a risk-aware
· Experienced in international investing with
offices in London, Hong Kong, Singapore,
39.4 Corporate, Foreign, & Gov't Entities 12.3% 0 - 1 Years Buenos Aires, and Baltimore
20.9 Mortgage-Backed Securities 2.8% 1 - 2 Years
15.8 U.S. Treasuries, Agencies, & Other 0.3% 2 - 3 Years
8.7 Cash & Equivalents 84.6% 3 - 4 Years
7.2 Asset Backed Securities
7.2 Guaranteed Investment Contracts (GICs)
PORTFOLIO CHARACTERISTICS TOP HOLDINGS
Weighted-Average Maturity 3.1 years Synthetic Investment Contracts (SICs) 74.1%
30-Day Effective Yield 3.87% Separate Account Contracts (SACs) 10.1
Number of Holdings 43 Cash 8.7
Guaranteed Investment Contracts (GICs) 7.2
Maturity — The period of time remaining until
the principal is repaid on securities held by the
Yield — The income per unit paid by the Trust to
its unit holder over a given period of time.
Certain numbers in this report may not equal stated totals due to rounding.
The Stable Value Fund (SVF) imposes a 90-day “equity wash” provision on exchanges to competing funds. The SVF is
interest rate sensitive; therefore, direct exchanges from the SVF to money market funds and certain short-term bond
funds are not permitted. “Permissible” or “eligible” investment options include most common stock funds and any
fixed-income fund with a duration that is equal to or greater than three years. Exchanges from the SVF must remain
invested in eligible investment options for at least 90 days before exchanging into a competing fund.
SVF-E E-068 10/2010