The T. Rowe Price Mid-Cap Growth fund benefits from a steady management team that aims to select fast-growing companies with strong business models. As of May 28, 2010 the fund is closed to new investors.
As of October 06, 2016, the fund has assets totaling $25.10 billion. Its portfolio consists of stocks of mid-cap companies whose earnings T. Rowe Price expects to grow at a faster rate than those of other companies.
The fund’s overweighting in the financial sector paid off in 2009. Its performance was also boosted by strong returns from Whole Foods Market, Inc., as well as CarMax, Inc., and gold miner Agnico-Eagle. As of the end of March, management is overweighting healthcare, consumer services, and industrial services companies. The fund has returned 11.25 percent over the past year and 11.22 percent over the past three years.
The fund has a strong long-term record. Its three-, five-, and 10-year returns land in the top quartile of the mid-cap growth category, according to Morningstar. The fund closed to new investors in 2003, reopened in 2008, and closed when assets swelled once again. The fund has returned 17.13 percent over the past five years and 10.61 percent over the past decade.