T. Rowe launches new high-risk fund

T. Rowe Price, a Baltimore-based, global investment management company, announced the launch of a new mutual fund, the Credit Opportunities Fund.

The fund, using the symbol PRCPX, will have few constraints, allowing it to take advantage of an array of credit instruments, including below investment-grade or unrated bonds, residential or commercial mortgages and loans, and outstanding obligations of companies in bankruptcy, among others.

The fund manager is Paul Karpers, a 19-year T. Rowe veteran who manages two other high-yield funds for both U.S. and foreign institutional investors.

T. Rowe cautioned that the fund “is expected to be volatile, with greater risk than a typical high yield fund.”

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