New T. Rowe Price Fund Manager Joe Fath Revs Up

Joe Fath took the driver's seat of $42.8 billion T. Rowe Price Growth Stock Fund a little more than a year ago, on Jan. 16, 2014. Recently, thismutual fund has shifted into higher gear. The fund is up 9.16% since Fath took charge vs. 9.20% for his large-cap growth rivals tracked by Morningstar Inc. and 12.28% for the S&P 500 in the stock market today.
In the past three months he's up 2.33% vs. 1.75% for his peer group and 1.24% for the big-cap bogey.
Fath says it took about six months to reposition the portfolio to his liking. Performance since then reflects that shift in stock investment ideas.

The portfolio holds 100 names, down from 118 when he took over. His top 10 account for 26% of his money, down from 33%. The tail end of the portfolio takes up 10% of his money, down from 21%.
His aim is for all-weather growth companies, which can expand earnings no matter what's happening in the macro environment surrounding them.
That's how he sees LinkedIn (NYSE:LNKD). "Its core recruiting business is maturing but continues to do well," he said.
In addition, Fath likes new opportunities that LinkedIn is nurturing. One is Bizo, an acquisition that aims to help advertisers reach businesses and professionals.
Another is its new version of Sales Navigator, which is a sales-lead facilitator tool. "That should provide a nice tailwind in the back half of the year," he said.

Read More at Click here / www.trade4x.net