April 1, 2003 — The T Rowe Price Internatl Discovery Fund (PRIDX) reopened to some new investors yesterday after being closed for three years.
The fund reopened to investors who buy shares directly from T. Rowe Price Associates Inc. It remains closed to most investors who buy shares through financial intermediaries, a spokesman for the fund company said.
That restriction is aimed at keeping people from rapidly buying and selling shares in the fund, the spokesman said. In order to deter short-term investors, the fund also carries a 2% redemption charge on shares held for less than a year.