T. Rowe Price's 20-Year Club
For these managers, the long run truly means the long run.
A highlight of the June Morningstar Investment Conference in Chicago was the panel featuring the "quarter-century club." Before an attentive audience of 1,800 financial advisors and individual investors, three highly regarded mutual fund managers--Brian Rogers of T. Rowe Price Equity Income (PRFDX), Will Danoff of Fidelity Contrafund (FCNTX), and Susan Byrne of GAMCO Westwood Equity (WESWX)--shared lessons, advice, and stories gained during 25 years of running the same fund for the same firm. (Danoff's tenure at Contrafund began in 1990, but he had joined Fidelity four years earlier.)
After listening to these veterans speak, I decided to look at the roster of other managers who have been at the controls of the same fund for an inordinate amount of time. The list is longer than I would have guessed, even taking into account that some may have been serving more as figureheads or strategists rather than hands-on portfolio managers for part of that time.
Gregg Wolper has a position in the following securities mentioned above: PRMTX, OTCFX. Find out about Morningstar’s editorial policies.