June 3, 2002 — T.Rowe Price Group (TROW) said portfolio manager Marc Baylin has left the company.
Robert Smith replaced Baylin as the head of the team that oversees the T Rowe Price New America Growth Fund (PRWAX) on May 29, according to a regulatory filing. Smith also is the lead manager of the T Rowe Price Growth Stock Fund (PRGFX). Both funds invest in growth stocks of large companies.
Smith, like Baylin, who had run New America Growth since March 2000, invests in growth stocks that are selling for “reasonable” prices, said Price spokesman Steven Norwitz.