T. Rowe Price ranked No. 1 of 20 fund families


March 17, 1998

T. Rowe Price Associates Inc. was the leading manager of diversified U.S. stock mutual funds over the past three years, according to an industry report yesterday.

The survey by Chicago-based Morningstar included the 20 biggest firms in terms of assets under management in four investment categories. It gauged how the funds did in the three-year period ended Jan. 31.

The fund companies were then ranked in accordance with how their funds performed. The rankings also took into account the risk level of the portfolios.

"T. Rowe Price did well because the company's funds tend to be less risky than those of their competitors," said Peter Di Teresa, a Morningstar analyst. T. Rowe Price managers tend to invest less assets in technology stocks and don't like to overpay for the stocks they buy.

T. Rowe Price's best-performing diversified U.S. stock fund of the past three years was the T. Rowe Price Value Fund, which rose at an annual rate of 31.8 percent, according to Bloomberg Fund Performance.

The Standard & Poor's 500 index rose at an annual clip of 31.7 percent in the same period.

Pub Date: 3/17/98

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