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Monday, August 19, 2013

A Champion T. Rowe PM Dies

News summary by MFWire's editors

Star T. Rowe [profile] PM John Laporte has died at age 68, according to Bloomberg.

Laporte, who was known was Jack, was a one-time Morningstar fund manager of the year who beat three-fourths of his peers during his 22-years managing the New Horizons Fund (PRNHX). He oversaw a near-quintupling of assets in the fund, to $5.9 billion, during those two decades, according to Bloomberg.

Bloomberg reports that he died on Aug. 12 at his home in Ruxton, Maryland, a suburb of Baltimore, his wife, Andrea Laporte, said in an interview. The cause was complications from lymphoma, according to the newswire.

Laporte worked at Baltimore-based T. Rowe Price (TROW) from 1976 until his retirement at the end of last year, according to Bloomberg

During 22-years, from 1987 to 2010, he was lead portfolio manager for small-cap growth portfolios as well as chairman of the investment advisory committee for New Horizons, one of the firm’s oldest funds, created by firm founder Thomas Rowe Price Jr. in 1960. The fund generally invests in companies with market capitalization of $2.5 billion or less.

“All of us who were fortunate enough to know and work with Jack are better off for it,” Brian Rogers, T. Rowe Price’s chairman and chief investment officer, stated, according to Bloomberg. “We certainly benefited from his investment acumen, but also from the example he set as an individual for his high ethics and standards, patience, curiosity, cooperation, encouragement and sincere interest in helping us improve.”


Edited by: Tommy Fernandez

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