T. Rowe Price
seems to have come through the sub-prime mess with a glow about it, writes Kaja Whitehouse in today's WSJ Fund Track
. The company reported a 37 percent rise in its third quarter profit yesterday and has largely been unscathed by the current market mess. James Kennedy,the Baltimore firm's chief executive, credits calls by fixed-income analysts, some as early as last year, to make a big reduction in the company's sub-prime holdings. T. Rowe has also never invested in any CDOs and only 1.5 percent of its money market funds have exposure to SIVs.
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