Jack Laporte, who has helmed the T. Rowe Price New Horizons Fund for 22 years will leave the $4.5 billion fund next March, a T. Rowe spokesman confirmed. Set to replace him is Henry Ellenbogen, who runs the T. Rowe Price Media & Telecommunications.

Laporte and Ellenbogen will begin working together on October 1 for a smooth transition. Equity research analyst Dan Martino will take over Ellenbogen's role at the Media & Telecommunications fund.

Although Laporte will depart the New Horizons fund, he will still maintain various roles at the Baltimore-based T. Rowe, the spokesman confirmed, including a spot on some funds' investment advisory committees.

"He [Laporte] will turn additional attention to do more of a mentoring role so that the investment team can continue to take advantage and learn from Jack [Laporte]'s four decades of experience in the industry," the spokesman told MFWire. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE