T. Rowe Price has reopened its New Horizons Fund to new investors. The move is effective today. The focus of the firm is small growth companies. The fund had been closed since June 1996.

"It is not in shareholders' best interests to be in a fund that has steady net redemptions. At the same time, we believe there are many attractive opportunities in the small-cap growth sector. Reopening the fund will increase our ability to take advantage of these opportunities for the benefit of all shareholders," stated John Laporte, chair of the investment advisory committee for the fund. 

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