T. Rowe Price creates new equity mutual fund

Maryland Watch

July 10, 1996

T. Rowe Price Associates Inc. yesterday introduced a new equity mutual fund that invests in stocks of midsized companies that are out of favor with the market.

The fund is called the T. Rowe Price Mid-Cap Value Fund. It invests primarily in companies with market capitalizations ranging from $300 million to $5 billion.

Mid-Cap Value is managed by Greg McCrickard, 38, who also manages T. Rowe Price's OTC Fund, which invests in small companies. The OTC Fund returned 13.85 percent in the first six months of the year and 32.9 percent for the 12 months ended June 30.

McCrickard said the Mid-Cap Value Fund offers investors the "financial stability of larger companies and the higher growth potential of smaller firms."

"Midsized companies have typically completed their start-up cycle, established their product lines and assembled a pool of seasoned management," he said. "As a result, they generally represent a less volatile investment than smaller company stocks."

With the addition of Mid-Cap Value, Price now has 68 mutual funds that manage $56.7 billion in assets.

Pub Date: 7/10/96

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