T. Rowe Price Growth StockPRGFX

Morningstar Rating

Fund Research and Analysis

by Harry Milling

T. Rowe Price Growth Stock has become more opportunistic while retaining its old strengths.

Rob Bartolo is proving his chops after taking the reins here in October 2007 from Bob Smith, who left after 10 years. With the fund's 10- and 15-year annualized returns as of Sept. Read more

Kudos

Manager has the support of T. Rowe's deep and skilled team of analysts.

Modest expenses. Read more

Risks

Although the new manager is a skilled investor, his experience running mutual funds is limited.

Valuation-conscious strategy and above-average foreign stake could hold the fund back in speculative markets or when international stocks falter.

Extra foreign exposure needs to be taken into account when slotting this fund in one's portfolio. Read more

Strategy

New manager Rob Bartolo has continued to employ the same valuation-conscious approach used by his predecessor, Bob Smith. Like Smith, he also will invest a decent chunk of the portfolio overseas. The portfolio remains better diversified than most large-growth funds, but investors should expect a slightly more aggressive edge. Read more

Management

In October 2007, Rob Bartolo replaced longtime manager Bob Smith. Prior to coming aboard, Bartolo comanaged T. Rowe Price Media & Telecommunications for about two years. Bartolo is not as experienced as Smith, but he was a skilled media and telecom analyst and has impressed in his brief tenure at Media & Telecom. Read more

Inside Scoop

This fund employs a growth-at-a-reasonable-price strategy. The result is a fairly well-diversified portfolio with lower price multiples than the large-growth average. An added quirk is the fund's above-average stake in overseas holdings. Read more

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