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Rating:Laporte to Relinquish the Reins at T. Rowe's Second Oldest Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, June 25, 2009

Laporte to Relinquish the Reins at T. Rowe's Second Oldest Fund

Reported by Kimberly Chin

Jack Laporte, who has helmed the T. Rowe Price New Horizons Fund for 22 years will leave the $4.5 billion fund next March, a T. Rowe spokesman confirmed. Set to replace him is Henry Ellenbogen, who runs the T. Rowe Price Media & Telecommunications.

Laporte and Ellenbogen will begin working together on October 1 for a smooth transition. Equity research analyst Dan Martino will take over Ellenbogen's role at the Media & Telecommunications fund.

Although Laporte will depart the New Horizons fund, he will still maintain various roles at the Baltimore-based T. Rowe, the spokesman confirmed, including a spot on some funds' investment advisory committees.

"He [Laporte] will turn additional attention to do more of a mentoring role so that the investment team can continue to take advantage and learn from Jack [Laporte]'s four decades of experience in the industry," the spokesman told MFWire

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