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I just got an email from TRP telling me that the T. Rowe Price Mid Cap Growth Fund, RPMGX is going from closed status to restricted status. It looks like purchases must be made directly with TRP. If anyone desires, I can copy/paste the text from the email. I've been in this fund since 1998. Dave
You are correct as here is the SEC filing:
497 1 c497.htm
T. Rowe Price Mid-Cap Growth Fund
T. Rowe Price Mid-Cap Growth Portfolio
T. Rowe Price Institutional Mid-Cap Equity Growth Fund
Supplement to Prospectuses and Summary Prospectuses dated May 1, 2021, as supplemented
Effective December 1, 2021, the T. Rowe Price Mid-Cap Growth Fund, T. Rowe Price Mid-Cap Growth Portfolio, and T. Rowe Price Institutional Mid-Cap Equity Growth Fund (Funds), each of which was closed to new investors on May 28, 2010, will resume accepting new accounts and purchases from most investors.
Accordingly, effective December 1, 2021, the first two sentences under “Purchase and Sale of Fund Shares” in each Fund’s summary prospectus and Section 1 of each Fund’s prospectus are deleted in their entirety. In addition, in Section 2 of each Fund’s prospectus, the sub-section entitled “Closed to New Investors” is deleted in its entirety.
Financial intermediaries and other institutional clients should contact T. Rowe Price or their relationship manager to determine eligibility to open new accounts and purchase shares of each Fund.
The date of this supplement is October 27, 2021.
When TRP changed the structure to their funds into two sections, I speculated to myself that there would be some re-openings of some of their popular funds.
They probably lost some investors due to the effects of old age.
The year end distributions are going to be fairly high, so those who might want to invest in a taxable account might want to wait until after distributions are paid.
I think that they will be changing managers in this fund as the present one is somewhere in his early sixties, nearing retirement. Another unknown is how the research team is being split? On the positive side, TRP hasn't disappointed me with their management.
I wouldn't be surprised if they had limited re-openings of a couple of their other closed funds. I have part of my Roth in PRWCX .