T. Rowe Price
kicked off 2004 by launching the Diversified Mid-Cap Growth Fund. The Baltimore-based fund firm says that the fund's manager Donald J. Peters will use a combination of qualitative analysis and quantitative models to pick mid-cap growth sector stocks.
The new fund is no-load and carries a minimum initial investment of $2,500 for taxable accounts and $1,000 minimum for individual retirement accounts.
Peters already manages the T. Rowe Price Tax-Efficient Growth, Tax-Efficient Multi Cap, and Tax-Efficient Balanced funds, as well as private institutional and separate accounts and has been at the fund firm for a decade.
The Diversified Mid-Cap Growth Fund becomes the fourth mid-cap fund offered by T. Rowe Price, and the third mid-cap growth fund. One of those funds -- the T. Rowe Price Mid-Cap Growth Fund -- is closed to new investors. It differs from the two other mid-cap funds in that it will not necessarily sell stocks of companies that have grown out of its mid-cap mandate and it will focus on pre-tax returns.
"We wanted to expand the investment choices for those interested in adding mid-cap stocks to their portfolios and this new fund complements the firm's existing mid-cap lineup," said Peters.
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