Top dog T. Rowe
Personal finance magazine Kiplinger’s has come out with its “Best of Everything 2007” edition. And if you’re shopping for the best place to roll over your 401(k) or the best 529 plan for the kids, you don’t have to look far.
Local money manager T. Rowe Price Associates came up top dog in those and other categories.
“It’s not surprising,” says Jeff Tjornehoj, Lipper’s senior research analyst. “They just have a commitment to a shareholder’s experience, not only in terms of fund performance but on the service side as well.”
Price takes top billing in four areas:
Best place to roll over your IRA or 401(k). You get investment advice and annual reviews for a one-time fee of $250, Kiplinger's says. No fee if you roll over $100,000 or more.
Best target-date retirement funds.
Kiplinger’s gives Price the thumbs up because its funds invest more heavily in the stock market than those of competitors.
Best natural resources fund. That’s T. Rowe Price New Era fund run by long-time manager Charles Ober. Says Kiplinger's: “The 0.66% expense ratio, well below average for this category, is another plus. The $5.8-billion fund gained an annualized 14% over the past decade.”
One of the best 529 plans. The Price-managed Maryland College Investment Plan made Kiplinger’s list of five favorite plans for having the best fund portfolios.
Hearing about the kudos from Kiplinger’s, Price spokesman Steve Norwitz says, “That’s nice diversification. It’s a broad range of subjects.”
