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James A.C. Kennedy
T. Rowe Price earnings up 17 percent in 2014
T. Rowe Price earnings up 17 percent in 2014

Baltimore-based money management firm T. Rowe Price reported 2014 earnings of $1.2 billion, up 17 percent over the year before, but the company's president cautioned that investors should temper their expectations for the market this year. Assets managed by Price were $746.8 billion for the end of 2014, up nearly 8 percent over the year before but partially offset by cash outflows of $8.1 billion from investment portfolios other than its mutual funds. Cash flows in and out of its funds were up $3.7 billion for the year but down $5.1 billion for the fourth quarter of 2014. James A.C. Kennedy, Price's president and CEO, called the company's performance "outstanding,"...