T. Rowe Price Media & TelecommunicationsPRMTX

Morningstar Rating

Fund Research and Analysis

by Lawrence Jones

Despite changes, T. Rowe Price Media & Telecommunications is still a strong option.

This offering's talented manager, Henry Ellenbogen, will step back from management duties here on Oct. 1, 2009, at which point he'll be replaced by Daniel Martino, who has served as an analyst on the media and telecom team since 2006. Read more

Kudos

Although this fund is a narrowly focused specialty fund, it does diversify among media, communications, and technology firms, helping to deliver a solid risk/reward profile over time.

The fund is supported by multiple analysts covering media, tech, and telecom companies.

Low expenses. Read more

Risks

Underweighting of more-speculative equipment and wireless names could hold the fund back when such fare rallies.

With big bets on individual stocks, company-specific risk is heightened. Read more

Strategy

Management seeks to buy communications- and media-related companies positioned to benefit from technological changes and societal trends. It looks for firms trading at discounts to comparable industry peers, but will pay more for those it thinks dominant. Read more

Management

On Oct. 1, 2009 Daniel Martino will replace Henry Ellenbogen as lead manager on this fund. Ellenbogen had been an analyst on this fund since 2001, and in April 2005, he and Rob Bartolo took over for Rob Gensler. Bartolo left in May 2007, leaving Ellenbogen the sole manager here. Read more

Inside Scoop

This fund is typically well diversified across the telecom and media sector, and its low relative costs are an added plus. Read more

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