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Explorer ○○○

Re: Josh Spencer's Future at New Horizons Fund


@cegibbs wrote:
Your question should be directed to TRP. Suggest that you call them to
ask. Their policies are subject to change.

It seems reasonable first to double check that the info given here wasn't a mistake, such as referring to a different TRP fund.  That seems possible, given that three different vendors are showing it as open to existing shareholders.

I don't really care, as we've already got this fund, so it won't affect us.  But if it's a different fund that was intended, that might be of more interest to us in particular.

RM

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Re: Josh Spencer's Future at New Horizons Fund

TRP tells me that none of their funds are hard closed (current holders of closed funds can still add to them).
I rolled over a part of 403b to TRP IRA to purchase some of their closed funds two years ago.
I am told that you can still do that.

 

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Re: Josh Spencer's Future at New Horizons Fund

I apologize! Apparently I was wrong and this is why I was confused by your question about what it meant to be closed. I am sure you knew the difference between closing to new or all investments.

I had a note written in my excel spreadsheet that it was hard closed, but after looking at TRP's site again, I'm not sure where I got that information. It appears you are correct and that no TRP funds are hard closed to all investments.
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Re: Josh Spencer's Future at New Horizons Fund

I really wish that TRP would reopen PRNHX (even if its a short window like 1 month).  They could really use more inflows of money for those that would like to get a foothold in the fund.

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Re: Josh Spencer's Future at New Horizons Fund

I don’t think any closed fund should reopen for people to take “foothold” positions. Such positions add to the cost of managing the fund and really serve no purpose for the investor because the percentage is too insignificant in comparison to the entire portfolio.

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Re: Josh Spencer's Future at New Horizons Fund

I would not just be buying into the fund just as a "foothold" position. I would genuinely contribute a good amount of capital into the fund.  What I was mainly saying is that it would give people a way into the fund for those that really want to get in and not contribute just the minimum.  There will always be people that buy and sell into the fund so why not open a small window once a year for those that want to get in is all I am saying.  

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Contributor ○

Re: Josh Spencer's Future at New Horizons Fund

Are there any statistics on how funds have been affected after a reopening? If the odds are that it would be to the detriment of those already in the fund, I think it would discourage the managers from opening unless it really needed to for some reason. I am not positively sure, but I think I read somewhere that funds usually do better AFTER closing to new investors, so I could see how the inverse could be true as well. 

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Re: Josh Spencer's Future at New Horizons Fund

As a generalization,  I guess after closing the fund,  a fund manager has a more stable set of money to work with than if the fund stays open.  That means more stable variables for the fund manager to work with and a better performance for the fund. That's a guess, what do others think? If a fund stays open, the variables are less stable and also more difficult to manage as the fund grows and grows. I have seen no studies on this but it seems to make sense. Anybody's thoughts?

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Follower ○○○

Re: Josh Spencer's Future at New Horizons Fund

Might still be too early to really comment on Mr. Spencer and PRNHX, however anyone else really impressed with how this fund has performed? Wow. Very happy how it held up this year. Kudos to TRP

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Frequent Contributor

Re: Josh Spencer's Future at New Horizons Fund


@TZsponge wrote:

Might still be too early to really comment on Mr. Spencer and PRNHX, however anyone else really impressed with how this fund has performed? Wow. Very happy how it held up this year. Kudos to TRP


PRNHX is the fund I would least part with because it has done very well over many years and holds smaller companies, which is my main access to smaller cap companies. Mid_cap growth not; I have had it since it was a small cap fund,

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Re: Josh Spencer's Future at New Horizons Fund

Mr. Spencer is doing a great job with New Horizons. He did on his previous T. Rowe fund also.

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Contributor ○

Re: Josh Spencer's Future at New Horizons Fund

I would buy PRNHX in a flash if TRP would let me. I’ve begged them and gotten nowhere. PRWCX and PRNHX are the Crown Jewels of TRP (my opinion). If I could get in, I’d probably allocate 10 percent of my portfolio to the fund. Currently have approximately 80 percent in PRWCX.
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Re: Josh Spencer's Future at New Horizons Fund

Hi cegibbs.

IIRC, you're several years into retirement and several years out from any connection to a 401(k)...right? The only way I know into New Horizons is via rollover from a 401(k) into a TIRA at Price...which I did myself this afternoon. Same rule for any new account wanting to get into PRWCX or other closed funds there.

While I was online with the TRP rep, he told me that the previously-closed Mid-Cap Value was reopening (which I'd already read about in M*), and so was Mid-Cap Growth (which is IMO another jewel of the TRP lineup and has been closed for years). I was NOT aware that Growth was also reopening, and if I weren't trying to keep the number of funds to a minimum and/or they had not let me into New Horizons, I'd be tempted to nibble on that one. You might take a look and see what you think.

Just a thought.

Dirk

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Re: Josh Spencer's Future at New Horizons Fund


@dirkronk wrote:

Hi cegibbs.

IIRC, you're several years into retirement and several years out from any connection to a 401(k)...right? The only way I know into New Horizons is via rollover from a 401(k) into a TIRA at Price...which I did myself this afternoon. Same rule for any new account wanting to get into PRWCX or other closed funds there.

While I was online with the TRP rep, he told me that the previously-closed Mid-Cap Value was reopening (which I'd already read about in M*), and so was Mid-Cap Growth (which is IMO another jewel of the TRP lineup and has been closed for years). I was NOT aware that Growth was also reopening, and if I weren't trying to keep the number of funds to a minimum and/or they had not let me into New Horizons, I'd be tempted to nibble on that one. You might take a look and see what you think.

Just a thought.

Dirk



@dirkronk wrote:

Hi cegibbs.

IIRC, you're several years into retirement and several years out from any connection to a 401(k)...right? The only way I know into New Horizons is via rollover from a 401(k) into a TIRA at Price...which I did myself this afternoon. Same rule for any new account wanting to get into PRWCX or other closed funds there.

While I was online with the TRP rep, he told me that the previously-closed Mid-Cap Value was reopening (which I'd already read about in M*), and so was Mid-Cap Growth (which is IMO another jewel of the TRP lineup and has been closed for years). I was NOT aware that Growth was also reopening, and if I weren't trying to keep the number of funds to a minimum and/or they had not let me into New Horizons, I'd be tempted to nibble on that one. You might take a look and see what you think.

Just a thought.

Dirk


Hi Dirk,

Thanks for looking out for me.  Very much appreciated.  You are correct......I don’t have any 401K money.   TRP will let me have access to a few closed funds (RPMGX, TRMCX, OTCFX), but not PRNHX.  I’ve begged but haven’t gotten anywhere.  Currently have 83% of my investable assets in PRWCX, and the remainder is in FXAIX and cash.  Been considering some RPMGX and PRGSX.

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