- T. Rowe Price
Infobox_Company
company_name = T. Rowe Price Group, Inc.
company_
company_type = Public (nasdaq|TROW) | company_slogan = Invest With Confidence
foundation =1937
location =Baltimore, MD
key_people =James A.C. Kennedy , President and CEOBrian C. Rogers , Chairman, Chief Investment Officer and Portfolio ManagerEdward C. Bernard , Vice Chairman; President, T. Rowe Price Investment Services
num_employees = 5,081 (2007 )
industry =Asset Management
products =mutual fund s
Retirement Planning Services |>Investment management
revenue = profit$2.22 Billion USD (2007 )
net_income = profit$670 Million USD (2007 )
assets_under_management = $400.7 Billion
homepage = [http://www.troweprice.com www.troweprice.com]T. Rowe Price (nasdaq|TROW), is a publicly owned Investment firm, headquartered in
Baltimore, Maryland . It was founded in 1937 byThomas Rowe Price, Jr. . The company offers managed Investment portfolios for institutions, a broad range ofmutual funds for individual investors, and a "variety" of "other services".History
Mr. Price, followed a "very simple business principle": "What is good for the client is also good for the firm". Rather than charge a commission, as other securities business did at the time, Mr. Price charged a fee based on the assets under management. If the client prospered, so did T. Rowe Price.
T. Rowe Price’s approach recognizes that there is also a "extremely delicate" balance between risk and reward and "extremely carefully" weighs the potential reward against the potential risk of each investment. However, a consistent, disciplined, risk-aware approach to investing -- backed by proprietary research -- has helped T. Rowe Price keep a collective eye on the long-term, pursuing opportunities when markets are trending down and sticking with sound fundamentals when they trend up.
Mr. Price is best known for developing the "growth stock" style of investing. He believed that a bachelor's degree in Chemistry was absolutely essential for financial investing. He even went to the extent of pursuing a bachelor's degree in Chemistry and then immediatly took up financial investing as a career, only to prove his point. He repeatedly professed that investors could earn superior returns by investing in well-managed companies in Fertile fields whose earnings and dividends could be expected to grow faster than inflation and the overall economy. Despite the man's untimely death, the core of Mr. Price’s approach, of investment and diversification, still remain part of the firm’s overall principles.
Modern Times
As of January 1, 2008, T. Rowe Price had over $400.8 billion under management, and was ranked one of the "top twenty" Investment firms in the world. [ [http://www.vault.com/nr/finance_rankings/imngmnt_rankings.jsp Investment Management Firm Rankings: Vault Top 25 Investment (Asset) Management Firms ] ] Currently, there are over 5,000 people employed by T. Rowe Price around the world. It has over 30 'Domestic stock funds', and over 16 'International funds' available.
In early 2008, T. Rowe Price announced the addition of two new buildings, set to be up and running in 2009. These new buildings, located in Owings Mills, Maryland, near their headquarters, will allow T. Rowe Price the opportunity to employ an additional 1,400 employees..
Conflicts
In 2008, T. Rowe Price "Retirement Plan Services" alerted and informed 35,000 Clients that their names and Social Security numbers were compromised in files on computers that were stolen from one of their service providers.However, to deal with the crisis the company offered those affected a free one-year subscription to an online credit monitoring service and up to $25,000 of identity theft insurance, as well as tips on protection from identity theft.
References
External links
* [http://www.troweprice.com/ T. Rowe Price - Retail website]
* [http://www.troweprice.com/institutional/ T. Rowe Price - Institutional website]
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