Here is the response I received from T. Rowe Price after inquiring where the quarterly fund commentary sections went on their website:
"I regret to inform you that that the commentary that was once found when clicking on the formerly labeled "Management/Commentary" tab has been removed for each fund. After careful consideration and research, we found that the tab did not receive enough visits to warrant keeping the commentary when combined with the knowledge that the commentary was never timely or 100% up-to-date despite our best efforts. We are working on developing a more robust experience for our shareholders to utilize in the future.
In the interim, we believe our T. Rowe Price Insights page will provide you with some of the information you may be looking for when it comes to investments, the markets & economy, and retirement & financial planning. These various pages are updated regularly with commentary and articles from specific investment professionals."
Very disappointing - I like to read a fund manager's commentary on how the fund performed, positioning, outlook, etc. each quarter.