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Why T. Rowe Price New Horizons Remains a Top Growth Fund

The small- and mid-cap growth fund should continue to generate great results, says Morningstar's analyst.

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T. Rowe Price New Horizons (PRNHX) earns a Morningstar Analyst Rating of Silver because of its strong resources and process.

Manager Joshua Spencer has picked up where his predecessor Henry Ellenbogen left off, and that's quite an accomplishment. Even with a down year in 2021, the strategy has outpaced its benchmark and typical rival by more than 5 annualized percentage points since Spencer took over in March 2019.

Adam Sabban does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.