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Donald J. Easley is leaving T. Rowe Price Diversified Mid-Cap Growth Fund

https://www.sec.gov/Archives/edgar/data/1267862/000174177320002708/c497.htm

497 1 c497.htm
T. Rowe Price Diversified Mid-Cap Growth Fund

Supplement to Prospectus Dated May 1, 2020
In section 1, the portfolio manager table under “Management” is supplemented as follows:

Effective January 1, 2021, Donald J. Easley will step down as the fund’s co-portfolio manager and Cochairman of the fund’s Investment Advisory Committee, and Donald J. Peters will become the fund’s sole portfolio manager and sole Chairman of the fund’s Investment Advisory Committee.

In section 2, the disclosure under “Portfolio Management” is supplemented as follows:

Effective January 1, 2021, Donald J. Easley will step down as the fund’s co-portfolio manager and Cochairman of the fund’s Investment Advisory Committee, and Donald J. Peters will continue to manage the fund and serve as the fund’s sole portfolio manager and Chairman of the fund’s Investment Advisory Committee.

The date of this supplement is September 14, 2020.
F149-041 9/14/20




He is going to T. Rowe Price Mid-Cap Growth Fund.

https://citywireusa.com/professional-buyer/news/fund-files-t-rowe-boosts-33bn-fund-with-two-new-pms/a1401062

Comments

  • He is going to T. Rowe Price Mid-Cap Growth Fund.
    Why?
  • edited September 14
    New Fund (RPMGX) has about $34B AUM. Old fund (PRDMX) has about $2B AUM, and has outperformed the larger fund most recently, and over the last 1, 3 and 5 years.

    Last 1 year: PRDMX @ 15%, RPMGX @ 10%
    Last 3 yrs_: PRDMX @ 16%, RPMGX @ 13%
    Last 5 yrs_: PRDMX @ 14%, RPMGX @ 13%

    Guessing this is a promotion.

    http://quotes.morningstar.com/chart/fund/chart?t=PRDMX

    http://quotes.morningstar.com/chart/fund/chart?t=RPMGX
  • From the article:

    ...The Diversified Mid Cap Growth fund is ranked 60 out of 163 Mid-Cap Growth funds...
    The larger Mid-Cap Growth fund is ranked 116 in the same category, having returned 47.5% over the same period.

    Probably to boost performance on a larger fund.
  • RPMGX is closed to new investors. T. Rowe Price must have a plan to continue the already good record for PRDMX.
  • edited September 15
    Is it possible that TRowe will try to merge the $34B RPMGX into the better performing $2B PRDMX, and bury the poorer record of the bigger fund?

    Naah ... just -uhm- kidding...

    Also, please note that Donald J Easely is stepping down from PRDMX, but leaving Donald J Peters at the smaller fund.

    Is this a case of one Donald J trumping another Donald J?

    You can't make this stuff up!
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