With this week’s announcement that Apple (AAPL) will be launching its own TV service, the communications industry has been taking a hit. Following the announcement, some analysts made bullish comments on Apple’s move, stating that it could change the communications industry.
This week, we have chosen the T. Rowe Price Media & Telecommunications (PRMTX) as our fund of the week.
Inside the Fund
The fund was launched in 1993 and is managed by Paul D. Greene II. Currently, it has about $3.3 billion in assets under management (AUM).
The fund is composed primarily of large and giant sized companies that are based in the Americas and Europe. The largest sectors in the fund include consumer cyclical, communications and technology.
Over 25% of the fund’s portfolio is composed in its top five holdings. The fund is up 3% YTD.
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The Bottom Line
As Technology is constantly changing, there are specific funds that could be impacted. With the potential of major changes in the media and communications industry, the T. Rowe Price Media & Telecommunications (PRMTX) may be a good fund to watch.
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