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T. Rowe Closes Market-Beating Health Sciences Mutual Fund To New Money

FYI: (This is a follow-up article) (The Linkster has recommended PRHSX over the last several year. Did you follow his recommendation ?) (Up over 33% last five years.)

Investors just lost access to one of the market’s best-performing stockpickers.
Fund company T. Rowe Price (TROW) this week closed its popular Health Sciences Fund (PRHSX) to new investors, a preemptive step taken to prevent the fast-growing fund from becoming unwieldy.
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2015/06/02/t-rowe-closes-health-sciences-mutual-fund-to-new-money/tab/print/

M* PRHSX Performance: http://performance.morningstar.com/fund/performance-return.action?t=PRHSX&region=usa&culture=en_US

Comments

  • edited June 2015
    Thought this was kind of interesting: "...when T. Rowe announced the closure, that the health sciences fund grabbed $820 million in the first quarter, fully 42% of T. Rowe’s total haul in the first three months of 2015:"
  • It is better in the long run for shareholders like Linkster. The fund will not get too big though it was getting there.

  • Kudos to Taymour Tamaddon who maintains the investment process left from Kris Jenner (and his analysts who left with him).

    Vanguard Health Care fund is a viable alternative with a more conservative approach (i.e. less biotech allocation). The new manager is doing a solid job after Ed Owen retired.
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