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T. Rowe Price Mutual Funds
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| The T. Rowe Price Family of Mutual Funds has been in business
since its founding by Thomas Rowe Price Jr. in 1937 during the
Great Depression. Originally founded in Baltimore, the firm has
remained true to their origins by remaining in that prominent
city, along with Alex Brown and Company, which has since been
acquired. T. Rowe Price has had one founding principle since the day they opened their doors, and that is, it must be good for the client first, and if it is, than it’s good for the firm. As you might, or might not be aware, it is the practice of most securities firms to charge the investor a commission. Not so with T. Rowe Price. The giant mutual fund company decided back then, that they would charge the client a fee, which would be based on the number of dollars the client had under management. In doing so, this aligned the investor’s interest with those of the firm. T. Rowe Price himself developed his growth stock style of investing which is very fashionable today. His principles were based on going into growth areas of different industries, and buying only those companies that could be relied upon to grow faster than the rate of inflation, and fasting than the economy itself. If we jump forward several decades, T. Rowe Price is still famous for their growth style. Whether it’s different mutual funds, mutual fund families, individual stocks, tax exempt investments, this company is represented in every mutual fund investment category. T. Rowe Price employs four multiple approaches to investment. They are:
T. Rowe Price controls and advises more than 450 institutional accounts. They
also market more than 80 stock, bond, and money market funds.
We are now more than 70 years into the founding of the company,
and yet the principles on which this company has been built
continue to occupy the minds of the people that compose the
company. What are those guiding principles that have sustained
T. Rowe Price after all these years
The prospectus will tell you the investment style that this particular mutual fund will employ. It is crucial for you as an investor that the mutual fund manager adhered to the investment style stated in the prospectus. This means that if the mutual fund has a five year or a 50 year history, each and every money manager that takes over the leadership of the mutual fund in question must adhere to the investment style that has been set down in print. You might be wondering why? It’s about every investor’s need to be diversified. Most investors do not own just one fund, or indeed one family of funds. If you are diversified among different investment styles, then it is absolutely crucial that the fund is invested along the lines that the prospectus states or you might find that you are no longer diversified, because one or more funds in your portfolio might have wandered through the years into a different investment style. The T. Rowe Price corporate management team has a system of internal checks and balances that help them determine that each and every fund has remained true to its stated investment objectives and style. Examinations and valuation analysis determine that each fund is fulfilling the objectives of the prospectus. The managers at T. Rowe Price practice a “fully invested” strategy, which means they do not keep much of the portfolios they run in cash. The actual valuation judgments for each stock remain the portfolio manager’s call. Each manager must look at each stock versus the other stocks in the portfolio, and then make the call. T. Rowe Price prides itself on the long tenures that each of their managers has with the mutual fund they are managing. This is best illustrated by an average 13 years of experience by the managers with their associated fund. The focus is long term results and not short-term performance, which seems to occupy the minds of tens of millions of American investors. There are more than 2.8 million individual investors who have part or all of their investable assets with T. Rowe Price. Together with certain institutional and other professional type investors, the company controls more than $300 billion of assets. As an investor, you might be interested in some of the business elements that the managers at T. Rowe Price employ to determine whether an investment should be made or not. Here’s a brief but not complete list of these elements, and you should employ them yourself in any investments you make on your own.
Internal Reporting Requirements to InvestorsIf you decide to invest in any of the T. Rowe Price mutual funds, you will automatically receive a report every six months. The timing of the release of this report is based on the fiscal year ending for the specific mutual fund you own. The fund manager is required by the company to discuss certain elements in the report. They include:A) The general market environment that the fund manager has had to deal with, and finds himself currently involved in. ProspectusNever invest in any mutual fund without receiving a current prospectus, and make sure you read it and not just file it away. This is part of your own due diligence process as an informed investor. Yes, the prospectus can be a very long, detailed and even a boring document, but success with your investments depends on the details. Reading the prospectus from cover to cover is part of that detailed process. The prospectus is a requirement that is imposed on any and all mutual funds by the Securities and Exchange Commission (SEC).You want to get a feel for the management fees you are paying to the mutual fund. You will find it in the prospectus. You will also want to know what if any, are the other charges that are involved? It's in the prospectus as well, along with any other expenses that are involved. You can download the prospectus on any T. Rowe Price fund you have an interest in, or you can order a printed copy by simply calling the company toll free at the following number 800 - 541 - 8803. If you do decide to call T. Rowe Price, ask for a Fund kit as well by mail. It will provide even more additional information. Statement of Additional InformationThere is also a document called "A Statement of Additional Information" that T. Rowe Price provides to any and all interested investors. This document, which can be over 200 pages in length, provides even more information than the prospectus. In this document you will find among other things:1) Organizational information about the mutual fund in questionYou can download the document, but we suggest you call and ask for a printed copy. You can do this by dialing a different number than the number for the prospectus. If you want a copy of the Statement of Additional Information, than call 800 - 225 - 5132, and mention the specific fund you have an interest in, and T. Rowe Price will mail you the documents within 24 hours. T. Rowe Price StabilityThis mutual fund company has been in business a long time by Wall Street standards. The company was started in 1937 as we previously mentioned. The Board has managed to raise the dividend that it gives to investors in the mother company every year since 1986, which is the year the company itself went public.With more than 5,000 associates working for the company, this is a very substantial mutual fund provider with over $400 billion in assets at the end of 2007. This is up some 19 plus percent from the previous year 2006. The $400 billion is composed of $246 billion in mutual funds management throughout the United States. There is an additional $154 billion in what are called managed investment portfolios. These include 1) separate accounts, 2) sub advised funds, 3) sponsored mutual funds for non-US citizens only, and 4) variable annuity portfolios. By the way, non-US assets make up about 9% of the assets that T. Rowe Price manages. We like the T. Rowe Price family of mutual funds, and believe this is truly a top-notch company. They pay attention to risk. The investment team is seasoned. They are not kidding when they say that their portfolio managers adhere to the style that they agree to, and the company has tons of first class proprietary research. You can't do much better than T. Rowe Price, and you can do a lot worse. Give them try, and make up your own mind. Richard Stoyeck
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Success Stories
Walter P.
St. Louis, Missouri
St. Louis, Missouri
I did not listen to you on three stocks I owned and it cost me a bundle. Please renew my subscription for a year this time.
Mark Guerrero
Dallas, TX
Dallas, TX
You saved me in a bear market. I would have remained long $2 million in technology stocks. I got out 5% below the top, after your call because I subscribed to your service. My friends instead rode the market down. If only you had a lifetime subscription plan. Thank You, Thank You, Thank You.
Charles Snell
Beverly Hills, CA
Beverly Hills, CA
This is the best stock market service I have ever subscribed to. I have made more money with StocksAtBottom.com in one year than any other service I have ever subscribed to. Thanks
Robert Stroz
Reno, NV
Reno, NV
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