T. Rowe Price ValueTRVLX

Morningstar Rating

Fund Research and Analysis

by Harry Milling

T. Rowe Price Value curbs risk without sacrificing reward.

As stated previously here, management will be changing at the fund in December 2009, but the incoming manager, Mark Finn, has been working with current manager, John Linehan, since May, so Finn will be well practiced in the fund's proven strategy by year's end. Read more

Kudos

Experienced management with strong record.

Reasonable expenses. Read more

Risks

Management's focus on out-of-favor stocks can backfire.

Fund is less focused on yield than the similar T. Rowe Price Equity Income, courting added volatility.

The fund will have a new manager by the end of the year. Read more

Strategy

Like his predecessors Brian Rogers and John Linehan, new manager Mark Finn will seek stocks that appear cheap relative to historical standards. But unlike Rogers, who was apt to own firms with shakier fundamentals, Finn will favor high-quality stocks like Linehan did. Read more

Management

John Linehan took charge here March 31, 2003. He joined T. Rowe Price in 1998 as an analyst covering the paper, energy, and airline industries and has been a member of the fund's investment committee since 2001. T. Rowe announced in March 2009 that Linehan was slated to be replaced by Mark Finn at the end of 2009. Read more

Inside Scoop

This fund faces some tough competition from sibling T. Rowe Price Equity Income, but it's a worthy choice in its own right. Read more

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