Shoot to Kill: Baltimore ranks as most lethal among nation's largest cities

Rock Springs Capital

T. Rowe Price sees unusual turnover in portfolio managers

T. Rowe Price sees unusual turnover in portfolio managers

T. Rowe Price has a reputation as a place where portfolio managers can spend their entire careers.

But over 12 weeks this year, three fund managers left the Baltimore-based investment company or announced plans to do so. Two left suddenly, with a star manager taking two top analysts along.

That's high turnover for any fund company, but particularly at Price, where the average tenure of a fund manager at the firm is 15 years.

"It's out of character," said Laura Lallos, an analyst with Chicago-based Morningstar Inc., which tracks funds. "It's worth watching, though, just because it is surprising."

Analysts and fund experts say they aren't sure...

63°