T. Rowe Price reopened its stable value fund to all investors, said spokesman Brian Lewbart.
Starting in mid-2009, the company enacted a “soft close” of its T. Rowe Price Stable Value Common Trust Fund by not accepting new defined contribution investment-only clients.
However, T. Rowe Price reopened the fund to all clients in January, Mr. Lewbart wrote in an e-mail. The defined contribution investment-only business accounts for about 10% of the $11.1 billion stable value fund, he wrote.
“Reopening (to all investors) was based on a combination of factors that included the significant increase in wrap capacity and potential impact of reinvestment rates on the fund's yield,” Mr. Lewbart wrote. “No changes were made to the terms of the fund for new or existing clients.”
