News Release
T. Rowe Price Earns U.S. Morningstar Award for Investing Excellence
Firm honored with Exemplary Stewardship Award
NEWS
T. Rowe Price (NASDAQ-GS: TROW) announced that it has been selected to receive the U.S. 2020 Morningstar Award for Investing Excellence in the Exemplary Stewardship category. The Exemplary Stewardship award recognizes the firm that best demonstrates an investor-focused corporate culture and an alignment of interests between investors and the people who control the destiny of the investment strategies, according to Morningstar.
T. Rowe Price was founded in 1937 by Thomas Rowe Price Jr., who set out with four colleagues to establish an investment counseling firm “with a reputation for the highest character and the soundest investment philosophy.” The company’s reason for being and its actions continue to be guided by these words today, and its associates strive to prioritize client interests above all else.
T. Rowe Price’s fiduciary culture is anchored in the importance of strategic investing, which is driven by rigorous research, critical thinking, prudent risk management, and active, independent decision-making. More than 7,000 T. Rowe Price associates in 16 countries around the world work to provide the highest-quality service to clients.
We are humbled and grateful to receive Morningstar’s prestigious Exemplary Stewardship award. This is a truly special honor for an investment firm, especially coming from an organization we greatly respect. It speaks directly to the core values of our firm, which include putting clients first and acting with integrity and accountability.
MORNINGSTAR EXEMPLARY STEWARDSHIP AWARD METHODOLOGY
Nominees are asset managers with investment strategies under coverage by Morningstar manager research analysts. To qualify for the award, the firm must have received a Parent pillar rating of “positive,” or, if one or more of its strategies have been rated under the enhanced ratings methodology launched in November 2019, “High.” The Parent pillar rating measures the quality of a firm’s care of investors’ capital. Nominations are made by Morningstar manager research analysts, then narrowed to a list of finalists. The entire analyst team meets to debate the merits of the finalists. Voting commences immediately thereafter and nominees receiving the most votes are the winners.
ABOUT T. ROWE PRICE
Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization that provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. Assets under management as of May 31, 2020, were $1.19 trillion. The organization also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.
Morningstar’s Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar’s Manager Research Group’s current expectations about future events and therefore involve unknown risks and uncertainties that may cause such expectations not to occur or to differ significantly from what was expected. Analyst Ratings are not guarantees nor should they viewed as an assessment of a fund’s, CIT’s, or separately managed account’s underlying securities’ creditworthiness. This press release is for informational purposes only; references to securities or a separately managed account investment strategy in this press release should not be considered an offer or solicitation to buy or sell the securities or to invest with that strategy.