This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

T. Rowe Price Closes New Horizons And Small-Cap Stock Funds To New Investors

Stocks in this article: TROW

BALTIMORE, Jan. 2, 2014 /PRNewswire/ --

NEWS

T. Rowe Price (NASDAQ-GS: TROW) announced that it closed its New Horizons and Small-Cap Stock Funds—along with similar portfolios for institutional clients—to maintain the integrity of the funds' investment strategies and to protect the interests of existing shareholders. While the funds are closed to new investors, they will continue to accept additional investments from existing shareholders and direct rollovers from qualified retirement plans into new IRAs offered through T. Rowe Price.

The New Horizons Fund, one of the first funds to invest exclusively in small-cap growth stocks, was first closed near a market peak in October 1967 and has reopened and closed several times since then. Since last reopening in May 2002, the fund's assets have risen by nearly $11 billion and stood at $15.5 billion as of November 30, 2013.

The Small-Cap Stock Fund, which is also one of the oldest funds to invest in small-cap stocks, was first closed to new investors in March 2004. With a total of $10.2 billion in assets as of November 30, 2013, the assets of Small-Cap Stock Fund have risen by $6.9 billion since the fund reopened to new investors in April 2009.    

QUOTE

Bill Stromberg, head of equity for T. Rowe Price

"Our number one goal is to deliver excellent performance for clients. Consequently, we have from time to time closed or restricted investments in funds when, in our judgment, the size or pace of cash flow impairs the portfolio manager's ability to invest effectively on behalf of existing shareholders. We have a long history of managing growth to protect performance, and that is why we have taken this step now with these funds."

IMPORTANT INFORMATION

The funds' prospectuses, which are available at troweprice.com or by calling 1-800-541-8803, include investment objectives, risks, fees, expenses, and other information you should read and consider carefully before investing. T. Rowe Price Investment Services, Inc., Distributor.

Small companies tend to have less experienced management, unpredictable earnings growth, and limited product lines, which can cause their share prices to fluctuate more than those of larger firms.

About T. Rowe Price Founded in 1937, Baltimore-based T. Rowe Price is a global investment management organization with $647.2 billion in assets under management as of September 30, 2013. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. For more information, visit troweprice.com, Twitter ( twitter.com/troweprice), YouTube ( youtube.com/trowepricegroup), LinkedIn ( linkedin.com/company/t.-rowe-price), or Facebook (fb.com/troweprice).

SOURCE T. Rowe Price

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs