The T. Rowe Price Equity Income strategy, which includes vehicles under other labels run in parallel, as well as an exchange-traded fund and separately managed accounts, remains a decent option for yield-oriented large-value investors. However, lower conviction in its undifferentiated approach leads to a Process downgrade to Average from Above Average.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PRFDX’s performance objective and investment process is for both security selection and portfolio construction.
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