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Mutual Funds Weekly Roundup: August 2
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The T. Rowe Price New Horizons Fund (PRNHX) is an actively managed mutual fund managed by T. Rowe Price. The fund focuses on investing in small-cap companies with growth potential. The fund offers opportunities for capital appreciation and long term growth from small companies. The fund aims to compile a diversified group of small, emerging growth companies. Many of these companies are in their early stages of development and have not yet been realized by the overall market. The fund is diversified on a sector basis, with its largest holdings in the technology, industrial goods, healthcare and consumer cyclical sectors. While the majority of its holdings are based in the Americas region, it does have some exposure to international markets.
The fund’s management team seeks companies that have effective management, operations in growth areas, continuing research, development and marketing, efficient service, pricing flexibility, and good accounting practices. The fund is subject to regular stock market prices as well as risks related to the investment in small-cap, less stable companies. This fund may be ideal for an investors who seeks the small-cap growth potential but would like to avoid buying single stocks or seek exposure to multiple small companies across several industries. Companies that are considered small-cap can often be much more volatile than larger companies and can be greatly impacted by a declining market.
The was launched on June 2, 1960 and has been managed by Henry Ellenbogen since April 2001. It aims to have an aggressive management style and to offer a higher than average risk/reward to investors. The fund requires a minimum initial investment of $2,500, or $1,000 for IRA accounts. Each additional investment has a minimum of $100. The fund currently has assets under management (AUM) of about $15 billion.
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| Period | PRNHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.5% | -1.0% | 9.3% | 11.91% |
| 1 Yr | 21.2% | -51.5% | 49.6% | 53.33% |
| 3 Yr | 12.0%* | -38.0% | 45.0% | 33.83% |
| 5 Yr | 7.4%* | -28.3% | 25.8% | 36.40% |
| 10 Yr | 9.5%* | -11.8% | 20.0% | 40.00% |
* Annualized
| Period | PRNHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2019 | 23.2% | -50.2% | 44.9% | 60.52% |
| 2018 | -8.3% | -51.7% | 102.3% | 20.43% |
| 2017 | 21.4% | -21.1% | 36.0% | 22.77% |
| 2016 | 2.0% | -61.7% | 40.3% | 45.49% |
| 2015 | -3.0% | -54.0% | 12.2% | 27.59% |
| Period | PRNHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.5% | -1.0% | 9.3% | 11.91% |
| 1 Yr | 21.2% | -51.5% | 49.6% | 52.74% |
| 3 Yr | 12.0%* | -33.1% | 45.0% | 45.54% |
| 5 Yr | 7.4%* | -20.9% | 25.8% | 58.79% |
| 10 Yr | 9.5%* | -10.5% | 20.0% | 67.95% |
* Annualized
| Period | PRNHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2019 | 23.2% | -50.2% | 44.9% | 60.52% |
| 2018 | -8.3% | -51.7% | 102.3% | 41.58% |
| 2017 | 21.4% | -7.0% | 39.4% | 63.00% |
| 2016 | 2.0% | -61.7% | 40.3% | 68.85% |
| 2015 | -3.0% | -54.0% | 12.2% | 61.21% |
| PRNHX | Category Low | Category High | PRNHX % Rank | |
|---|---|---|---|---|
| Net Assets | 27.8 B | 740 K | 34.6 B | 0.84% |
| Number of Holdings | 161 | 1 | 2554 | 8.05% |
| Net Assets in Top 10 | 5.92 B | 183 K | 5.97 B | 0.84% |
| Weighting of Top 10 | 24.05% | 5.5% | 100.0% | 54.87% |
| Weighting | Return Low | Return High | PRNHX % Rank | |
|---|---|---|---|---|
| Stocks | 99.40% | 89.33% | 121.88% | 21.64% |
| Cash | 0.48% | -27.03% | 11.17% | 81.04% |
| Bonds | 0.12% | 0.00% | 2.56% | 0.84% |
| Preferred Stocks | 0.00% | 0.00% | 1.89% | 62.92% |
| Other | 0.00% | -11.06% | 5.15% | 62.75% |
| Convertible Bonds | 0.00% | 0.00% | 0.07% | 60.74% |
| Weighting | Return Low | Return High | PRNHX % Rank | |
|---|---|---|---|---|
| Technology | 28.27% | 0.00% | 56.36% | 53.52% |
| Healthcare | 21.20% | 0.00% | 38.81% | 17.95% |
| Industrials | 20.06% | 0.00% | 33.54% | 22.65% |
| Consumer Cyclical | 10.31% | 2.74% | 58.77% | 84.06% |
| Financial Services | 5.45% | 0.00% | 40.35% | 74.16% |
| Consumer Defense | 4.91% | 0.00% | 16.09% | 24.83% |
| Real Estate | 4.03% | 0.00% | 52.42% | 38.76% |
| Communication Services | 3.68% | 0.00% | 17.52% | 46.64% |
| Basic Materials | 2.09% | 0.00% | 19.70% | 42.11% |
| Utilities | 0.00% | 0.00% | 6.40% | 71.81% |
| Energy | 0.00% | 0.00% | 12.44% | 86.07% |
| Weighting | Return Low | Return High | PRNHX % Rank | |
|---|---|---|---|---|
| US | 82.34% | 80.04% | 115.67% | 97.32% |
| Non US | 17.06% | 0.00% | 17.06% | 0.17% |
| Weighting | Return Low | Return High | PRNHX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 78.52% | 0.00% | 100.00% | 93.62% |
| Corporate | 21.48% | 0.00% | 100.00% | 2.93% |
| Derivative | 0.00% | 0.00% | 4.22% | 60.17% |
| Securitized | 0.00% | 0.00% | 0.00% | 60.34% |
| Municipal | 0.00% | 0.00% | 0.00% | 60.34% |
| Government | 0.00% | 0.00% | 16.26% | 60.69% |
| Weighting | Return Low | Return High | PRNHX % Rank | |
|---|---|---|---|---|
| US | 0.12% | 0.00% | 0.76% | 0.67% |
| Non US | 0.00% | 0.00% | 2.56% | 60.74% |
| PRNHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.77% | 0.00% | 27.43% | 87.44% |
| Management Fee | 0.64% | 0.00% | 1.50% | 18.99% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | 19.73% |
| Administrative Fee | 0.15% | 0.01% | 0.40% | 78.03% |
| PRNHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
| PRNHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| PRNHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 39.30% | 1.24% | 385.00% | 41.09% |
| PRNHX | Category Low | Category High | PRNHX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 41.51% | 61.58% |
| PRNHX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annually | Monthly | Annually |
| PRNHX | Category Low | Category High | PRNHX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.24% | -2.55% | 2.65% | 41.33% |
| PRNHX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Start Date
Tenure
Tenure Rank
Mar 31, 2019
0.75
0.8%
Joshua Spencer is the lead portfolio manager for the US Small-Cap Growth Equity Strategy, including the New Horizons Strategy. He was previously the portfolio manager of the Global Technology Equity Strategy for nearly seven years. Mr. Spencer is a vice president of T. Rowe Price Group, Inc. He earned a B.A. in economics from Johns Hopkins University, an M.A. in economics from the University of Chicago, and an M.B.A. in finance and accounting from the University of Chicago Booth School of Business. He has also earned the Chartered Financial Analyst designation.
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 33.02 | 8.06 | 2.84 |
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