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New Horizon Fund Manager Jack Laporte To Be Replaced By Henry Ellenbogen
NEW YORK - T. Rowe Price's New Horizon Fund manager Jack Laporte will be stepping down next spring. Replacing him will be Henry Ellenbogen, 36, who has been a manager at the firm's Media and Telecommunications fund since 2005. Laporte has run the New Horizon Fund since 1987.
Since 1987, the $4.5 billion fund has had a total return of 9.52% versus the S & P index of 8.6%
Through June 25, the fund gained 14.73% since Dec. 31, against a total return for the S&P 500 of 3.23%.