T. Rowe Price Launches Two New Mutual Funds
International Concentrated Equity
The fund will be managed by Federico Santilli and will have a net expense ratio of 0.90%. The minimum initial investment for this fund is $2,500, or $1,000 for retirement accounts.
Intermediate Tax-Free High Yield Fund
This fund will be managed by James Murphy and will have a net expense ratio of 0.75%. The minimum initial investment for this fund $2,500, or $1,000 for retirement accounts.
Bond Funds Post $3.8 Billion in Outflows
High yield bond funds accounted for $3.2 billion of the outflows – the biggest withdraw in six weeks.
Stock funds saw a $5.5 billion inflow in new investor cash.
Mutual Fund Assets Drop $419 Million
Equity funds reported inflows of $157 million, compared to inflows of $1.26 billion the week prior. U.S. equity funds declined by $1.98 billion – offset by foreign equity fund inflows.
While investors removed a total of $1.27 billion from taxable funds, $517 million was added to municipal funds.
In addition, $179 million was added to hybrid funds, and money market funds grew by $22.72 billion.
The Bottom Line
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