T. Rowe Price GNMAPRGMX

Morningstar Rating

Fund Research and Analysis

by Lawrence Jones

T. Rowe Price GNMA is a solid option.

Manager Andy McCormick took over in April 2008, and he navigated capably through a challenging market environment in late 2008-early 2009. Of course, the effectively credit-risk-free GNMA securities that form the Read more

Kudos

The fund has been a solid long-term performer.

Mandate change provides more flexibility to management. Read more

Risks

Not as cheap as some solid rivals. Read more

Strategy

Manager Andrew McCormick searches for inefficiencies in the GNMA market, looking for situations in which investors have made faulty assumptions about the likely prepayment of certain bonds. He also tries Read more

Management

This fund's longtime manager, Connie Bavely, retired in March 2008 after running the fund since October 2000. She has been replaced by an experienced hire, Andrew McCormick. McCormick worked as a Wall Street mortgage trader for 13 years before joining Read more

Inside Scoop

This fund is under new management and saw a mandate change that broadens its investing universe. Read more

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