T. Rowe Price history

By 1950, its clientele grew too large for the staff to manage accounts individually, so the firm incorporated and launched its first mutual fund, the T. Rowe Price Growth Stock Fund.

By 1960, Price opened a second fund, named the New Horizons Fund, focused on growth investment opportunities, and especially technology firms like Xerox, IBM, and Boeing.

At the same time, Price began to prepare for retirement, resigning as president of the firm in 1963, delegating some responsibilities, and selling his shares in the company.

In 1971, the year Price completely retired, T. Rowe Price opened its Fixed Income Division, and began to modernize and diversify its operations.

In 1979, T. Rowe Price launched a joint venture with British asset manager Robert Fleming & Co. named Rowe Price-Fleming International.

T. Rowe Price held its initial public offering, valued at nearly $200 million, in 1986.

Shortly thereafter, the firm began establishing larger office complexes in the United States and research offices around the world, beginning with a Hong Kong office in 1987.

T. Rowe Price largely avoided the dot-com bubble of 2000.The Wall Street Journal expressed surprise at the firm's moderation with then-profitable technology stocks just a week before the markets began to crash in March 2000.

In 2001, the company launched T. Rowe Price Funds SICAV, domiciled in Luxembourg, for non-United States institutional investors and financial intermediaries.

In 2010, T. Rowe Price bought a significant interest in Unit Trust of India, India's oldest mutual fund company and one of its five largest.