The PM behind a $4.4-billion T. Rowe Price
] mutual fund is leaving the fund, but not T. Rowe, this spring.
| Justin White|
T. Rowe Price
Investment Analyst, Vice President
In a filing with the SEC, the Baltimore-based fund shop confirms
that effective April 1, Daniel Martino
will pass along the keys to the five-star, bronze-rated T. Rowe Price New America Growth Fund
. Justin White
, who joined T. Rowe in 2008, will succeed Martino as the fund's PM.
Though Martino is leaving the New America Growth Fund, he is not leaving T. Rowe T. Rowe spokesman Bill Benintende confirms that Martino on April 1 Martino "will join the Large-Cap Value team supporting portfolio managers in all aspects of the investment process."
White is an equity research analyst at T. Rowe. Benintende confirms that White covers "cable/satellite, Internet infrastructure, and U.S. telecom companies" and has been on the New America Growth Fund's investment advisory committee since 2014.
"His analyst duties will be transitioned to members of the Technology and Media & Telecommunications teams," Benintende says.
Martino, a vice president at T. Rowe, has PMed the New America Growth Fund since May 2013. The fund first launched in September 1985.
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