BOSTON ( TheStreet) -- Who do you want at the wheel of your ship in a hurricane when you're a mutual fund investor?The hotshot with the yacht-club pedigree, white duck pants, cravat and the hat to match? Or the guy who's been around the world a few times, and quietly displays his confidence and can back it up with double-digit returns that go back a decade?
T. Rowe Price Balanced Fund ( RPBAX), which opened in 1939, oversees $3.2 billion in assets. The fund has an annual yield of 2.18%. Its asset allocation is similar to its peers, with 65% recently in stocks and 33% in bonds, including a 4.5% weighting in a high-yield fixed-income mutual fund. T. Rowe Price Balanced Fund has a 15-year average annualized return of 6.5%, but is down 2.5% this year. Edmund Notzon, III, has been a manager of the fund for over 20 years. On the strength of its below-average net expense ratio and lack of a sales load, the fund receives a positive cost factor score, according to S&P.