TD Asset Management Inc.

T. Rowe Price Associates, Inc.

Joshua Spencer, CFA

Vice President
Joshua Spencer is a portfolio manager and research analyst in the U.S. Equity Division of T. Rowe Price. He is the lead portfolio manager for the Global Technology Strategy. Mr. Spencer also has portfolio management responsibilities in the firm's U.S. Structured Research Strategy. As an analyst, he covers semiconductors and equipment under the technology industry. Mr. Spencer has 14 years of investment experience, eight of which have been with T. Rowe Price. Prior to joining the firm in 2004, he was employed by Fidelity Investments as a research analyst and sector fund portfolio manager specializing in the consumer industry. Mr. Spencer is a member of Phi Beta Kappa and earned a B.A. in economics from Johns Hopkins University, where he was awarded the Max Hochschild Prize for Outstanding Student in Economics. He holds an M.A. in economics from the University of Chicago, where he was awarded the Century Scholarship for full tuition. Mr. Spencer earned an M.B.A. in finance and accounting from the University of Chicago Booth School of Business, where he was on the dean's list and was an active member of the Investment Management Group and editor of the Chicago Advisor investment newsletter. He has earned the Chartered Financial Analyst designation.