T. Rowe Price
has officially joined the ranks of "tipsy" fund firms. The Baltimore-based complex today rolled out its Inflation Protected Bond Fund that invests in TIPS (Treasury Inflation Protected Securities). Both Fidelity
and Hartford Life
also rolled out like funds in the past year.
The largest TIPS investing funds are offered by Pimco and American Century. Both of those funds date to the mid-1990s.
T. Rowe is targeting the fund for use in retirement or other long-term accounts.
Separately, the firm also recently revealed that it has lined up 13 defined contribution plan sponsors for its three new Target Allocation funds. Despite that success, the funds are primarily taking in money from retail accounts. T. Rowe launched the funds on October 1, 2002 and has been pulling in a reported $2 million a week in new assets and transfers from its other funds.
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