T. Rowe Price Value Fund-TRVLX

U.S. News evaluated 333 Large Value Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.

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Performance

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The fund has returned 20.13 percent over the past year, 13.03 percent over the past three years, 6.60 percent over the past five years, and 10.14 percent over the past decade.

Trailing Returns	Updated 03.31.2013
Year to date	13.0%
1 Year	20.1%
3 Years (Annualized)	13.0%
5 Years (Annualized)	6.6%
10 Years (Annualized)	10.1%

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Summary

T. Rowe Price Value has traditionally done a fine job of identifying underpriced companies.
As of April 03, 2013, the fund has assets totaling almost $14.56 billion invested in 113 different holdings. Its portfolio consists primarily of shares of large companies.
Like most value funds, this one looks for companies with strong fundamentals that nonetheless look cheap. Often, that means that management will seek out companies that are temporarily struggling. For instance, Bank of America, which finished last year in the red, and Pfizer, which broke even for the year, occupy prominent spots in the fund's portfolio. Lately, the fund's bets have been paying off. Notably, it finished in the top fifth of Morningstar's large value category in both 2009 and 2010. One of the bigger changes to affect this fund lately was the departure of manager John Linehan at the end of 2009. Linehan handed the fund off to current manager Mark Finn. Says Morningstar: "T. Rowe Price is known for smooth manager transitions, and the handoff at this fund reinforces that reputation." The fund has returned 20.13 percent over the past year and 13.03 percent over the past three years.
Historically, the fund has been a steady performer. While it has had very few banner years, its 10-year trailing returns still landed it, as of the end of the first quarter, in the top fifth of its Morningstar category. Over time, the fund's diversification has helped smooth out volatility. Management owns more than 100 names, which leaves plenty of room for the fund to absorb the impacts of the occasional dud. The fund has returned 6.60 percent over the past five years and 10.14 percent over the past decade.

Investment Strategy

The fund looks to own strong companies that are trading at a discount. Management will gauge value by considering a number of factors, including price-to-earnings ratios and the potential for future changes in the structure of particular companies. The fund is highly diversified and owns upwards of 100 names. Management also likes to keep a lid on the fund's turnover ratio, which currently sits at about 30 percent.

Role in Portfolio

Morningstar calls the fund a "core" holding.

Management

Mark Finn manages the fund.

Fees

T. Rowe Price Value Fund has an expense ratio of 0.85 percent.

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Risk

Like all stock funds, this one comes with some risks.