By Eileen Ambrose, The Baltimore Sun
8:18 PM EST, February 14, 2013
The manager of one of T. Rowe Price's top funds and two analysts have resigned, effective Friday.
Kris H. Jenner, 51, has managed the T. Rowe Price Health Sciences Fund since 2000. The fund, with $5 billion in assets, gained nearly 32 percent last year.
Along with Jenner, analysts G. Mark Bussard and Graham M. McPhail also tendered their resignations.
"They are leaving to pursue other opportunities," Price spokesman Brian Lewbart said. "They didn't share what they are."
According to Bloomberg News, Jenner wrote to some of his contacts to say the trio were leaving to form a new venture, although they couldn't disclose their plans yet, partly because of regulatory and reporting requirements.
The Health Sciences Fund as of Friday will be managed by Taymour R. Tamaddon, who joined Price in 2004 and has been an analyst on the health care team. Lewbart said Price has succession plans in place for situations like this, and added that Tamaddon is "well-prepared" for his new role.
Copyright © 2014, The Baltimore Sun