T. Rowe Price opens its first large-cap core fund
T. Rowe Price Group Inc. launched the U.S. Large-Cap Core Fund (TRULX), which will invest in both growth- and value-oriented large-cap stocks.
T. Rowe Price Group Inc. launched the U.S. Large-Cap Core Fund (TRULX), which will invest in both growth- and value-oriented large-cap stocks.
The fund’s portfolio will include 50 to 75 companies.
At least 80% of its assets will be in U.S. stocks and the minimum investment is $2,500, or $1,000 for retirement plans and gifts to minors, the Baltimore firm said in a statement.
The fund will be managed by Jeff Rottinghaus, who worked at the firm for eight years as an analyst and portfolio manager.
The firm has managed large-cap funds for many years, but the funds have invested in either growth or value. Its $16.7 billion T. Rowe Price Growth Stock Fund (PRGFX) was established in 1950 and its $14.4 billion T. Rowe Price Equity Income Fund (PRFDX), which invests in large-cap value stocks, was created in 1985.
This, however, is the first large-cap core offering investing in both growth and value stocks, the firm said in the statement.
“Our flexible investment program allows us to concentrate our best U.S. large-cap stock picks into one convenient portfolio,” Mr. Rottinghaus said in the statement.
T. Rowe Price had $268.8 billion in assets under management as of March 31.
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