According to the announcement, the addition of the Dividend Growth Fund and New America Growth Fund brings the total number of funds in its Advisor Class lineup to 26. Advisor Class shares carry a 12b-1 fee of 0.25%, and can only be purchased through financial intermediaries.
The Dividend Growth Fund, which will be managed by Thomas Huber, employs a conservative, growth-at-a-discount investment strategy with an emphasis on dividend growth, the company said.
The New America Growth Fund, to be managed by Joseph Milano, uses a bottom-up growth strategy that invests predominantly in common stocks of US companies in those sectors of the economy that are the fastest growing or have the greatest growth potential.
John Cammack, head of Third Party Distribution for T. Rowe Price, said in the announcement, “Since we launched our first Advisor Class shares in March 2000, the funds have been well received by advisors, broker dealers, banks, and other intermediaries, demonstrating the appeal of our solid risk-adjusted performance, consistent style discipline, and low portfolio turnover.”