t rowe price group inc (TROW) Key Developments
Flipkart Online Services Is Reportedly In Talks To Raise $500 Million
Jul 10 14
Flipkart Online Services Pvt. Ltd. is in negotiations to raise at least $500 million, an investment round that will prepare the ground for a likely listing in the US in 2015, according to several people aware of the development. These sources, who are not directly involved in the process, said a fund founded by Russian billionaire Yuri Milner is taking the lead drawing in new investors soon after pouring money itself into Flipkart. Among those said to be interested are GIC Pte. Ltd. and T. Rowe Price Group, Inc. (NasdaqGS:TROW). Flipkart declined comment on what it called a market speculation. GIC and T Rowe Price did not reply to questions sent by email, reported Economic Times. General Atlantic LLC and Fidelity Investments are also being spoken of as potential investors in Flipkart. If all the investments come through, Flipkart could end up raising well over $1 billion. As Flipkart readies for an eventual US listing expected in 2015, cofounder Sachin Bansal, has said Nasdaq is a definite possibility.
T. Rowe Price Closes Capital Appreciation Fund to New Investors
Jun 30 14
T. Rowe Price announced that it closed its Capital Appreciation Fund--along with similar portfolios for institutional clients--for the first time in order to maintain the integrity of the fund's investment strategy and to protect the interests of existing shareholders. While the fund is closed to new investors, additional investments from existing fund shareholders and direct rollovers from qualified retirement plans into new T. Rowe Price IRAs will still be accepted. The Capital Appreciation Fund, which launched in 1986, seeks long term capital appreciation and to provide comparable returns to the S&P 500 Index with less inherent risk than the all-equity index. Typically, the fund invests about 60% of its assets in stocks and the remainder in a diversified mix of bonds and cash reserves. Through this approach, the fund has posted positive absolute returns in every calendar year since its inception except for two (1990 and 2008). The pace of inflows has increased dramatically in recent years. To ensure that additional strong flows do not overwhelm the portfolio manager's ability to meet the fund's investment objectives, the decision was made to close the fund to new investors as of market close on June 30, 2014.
T. Rowe Price Group, Inc. Declares Quarterly Dividend, Payable on September 29, 2014
Jun 19 14
T. Rowe Price Group, Inc. announced that its Board of Directors has declared a quarterly dividend of $0.44 per share payable on September 29, 2014 to stockholders of record as of the close of business on September 15, 2014.
Ò Rowe Price Presents at Pension, Foundation and Endowment Conference, Jun-04-2014 11:00 AM
Jun 2 14
Ò Rowe Price Presents at Pension, Foundation and Endowment Conference, Jun-04-2014 11:00 AM. Venue: New York, United States. Speakers: Peter Austin, Head of New Fixed Income Solutions Group.
T. Rowe Price Launches Asia Opportunities Fund
May 28 14
T. Rowe Price announced that it has launched the Asia Opportunities Fund (TRAOX), which complements the firm's $3.8 billion New Asia Fund (PRASX). The firm expects investor demand for Asian stocks to continue rising over the next several years as the region's economic importance grows. The Asia Opportunities Fund will seek long-term capital appreciation by owning high-quality, well-managed companies that are doing business throughout Asia (excluding Japan) and that it believes can reliably grow over the long term. Unlike the New Asia Fund, which focuses on earnings growth, the new fund will focus on companies with highly predictable earnings. Eric Moffett will manage the fund. Typically, the fund will invest in 40--70 high-quality companies in Asia. The fund is supported by a locally based team of 14 equity analysts in the firm's Hong Kong and Singapore offices, as well as the firm's broader global research platform that can bring additional insights.