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Two "new" T Rowe Price Funds

joe74
edited September 2014 in Fund Discussions
Just received an alert from TRP about "two new investment opportunities", though the first opened in July and the second in August. PRCNX was mentioned in MFO July 2014 Funds in Registration.

"We are pleased to announce two new choices within our lineup of mutual funds:
The Intermediate Tax-Free High Yield Fund (PRIHX) seeks a high level of income, exempt from federal taxes, with an intermediate duration that can help manage interest rate risk.
The International Concentrated Equity (PRCNX) focuses on the potential growth of foreign equities that are believed to be undervalued, using a strategy previously offered only to institutional investors."

Although PRCNX is non-diversified, it plans to hold 40-60 stocks, and the top 10 holdings currently only account for 18% of assets. EM limited to 15%. Regional Exposure is 56.2% Europe, 18.5% Japan, 6.8% Pacific Ex Japan, and 2.1% Latin America. At $2M AUM, it's a little early to make much out of any of those numbers.

Comments

  • CharlesCharles
    Interesting.

    When T Rowe Price speaks, people should listen.

    c
  • VintageFreakVintageFreak
    The last TRP fund that interested me was their global allocation fund. My in-laws are in it
  • joe74
    PRIHX has same manager as Gold-rated PRFHX, which has Avg Eff Duration of 5.62 Yrs
  • hank
    edited September 2014
    I propose a global meeting of mutual fund companies to institute a coordinated effort to reduce over time the number of funds worldwide. This would be similar to the strategic weapons reduction agreements negotiated among nations.

    Rather than reading about "Two New T. Rowe Price Funds" every six months or so, the headline would read: "T. Rowe Removes Another Fund From Its Arsenal."
  • VintageFreakVintageFreak
    hank said:

    I propose a global meeting of mutual fund companies to institute a coordinated effort to reduce over time the number of funds worldwide. This would be similar to the strategic weapons reduction agreements negotiated among nations.

    Rather than reading about "Two New T. Rowe Price Funds" every six months or so, the headline would read: "T. Rowe Removes Another Fund From Its Arsenal."

    ROFL. I think a Global Meeting of all investors voting with their feet to "retire" unnecessary actively managed funds may be more effective. That said, I'm with you 100% as regards to the entire mutual fund population, not just TRP.
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