T. Rowe Price Upgrade Leads the Way in February
For a change, we have more upgrades than downgrades.
We’ve upgraded more funds than we downgraded for a change. BlackRock’s target-date funds account for most of the upgrades, but, hey, we’ll take what good news we can get. Besides BlackRock, we have changes to funds from big name shops like T. Rowe Price, Vanguard, and American Funds. Here are some highlights. See the table below for the complete list of changes.
T. Rowe Price New America Growth (PRWAX) was upgraded to Bronze from Neutral. Manager Dan Martino made the fund into more of a pure large-growth fund since taking over, and so far results have been strong. Martino came to this fund backed by a strong record at T. Rowe Price Media & Telecommunications (PRMTX), which he ran from October 2009 through September 2013. During that time, that fund trounced the average communications fund, the typical tech fund, and the S&P 500. Further, Morningstar performance attribution indicated that Martino's stock selection had more to do with the fund's outperformance relative to the S&P 500 than the fund's sector biases.
Russel Kinnel has a position in the following securities mentioned above: NEWFX. Find out about Morningstar’s editorial policies.
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