T. Rowe Price New America GrowthPRWAX

Morningstar Rating

Fund Research and Analysis

by Harry Milling

T. Rowe has a bevy of solid growth funds, but T. Rowe Price New America Growth is the standout.

This fund has several advantages over peers, starting with its manager. When Joe Milano took over the large-growth fund in 2002, he had proven expertise Read more

Kudos

Manager has delivered strong returns.

Moderate costs.

Flexible approach distinguishes the fund from its rivals. Read more

Risks

Willingness to pay up for growth may lead to above-average volatility. Read more

Strategy

Before 2000, this fund avoided technology and stayed in service industries such as telecommunications, retail, and financials. The fund's mandate changed to growth in 2000, however, opening it up to Read more

Management

Joseph Milano took the reins here in July 2002 from interim manager Robert Smith. In May 2002, Smith had replaced Marc Baylin, who oversaw the fund's transition to a pure large-growth fund in 2000. Baylin took over for Jack LaPorte, who had managed Read more

Inside Scoop

This fund made the transition to growth stocks in 2000, but management continues to demand reasonable prices and real earnings. Read more

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