No. 29: T. Rowe Price Group
Industry: Financials
Sales: $2.2 billion
Net Income: $670.6 million
Money manager T. Rowe Price's (TROW)steady performance continues to attract legions of investors. About three-quarters of the Baltimore firm's mutual funds outperformed their peers over the past 3, 5, and 10 years through the end of 2007. In a mediocre year for the stock market, assets rose almost 20%, to $400 billion. Customers added a net $34 billion, including $11 billion to target-date retirement funds. Regular deposits from investors saving for retirement help the firm weather tumultuous markets, according to CEO and President James Kennedy. Now, T. Rowe is looking for growth overseas; at the end of 2006, the firm landed a plum assignment to help manage China's National Council for Social Security Fund, which provides retirement benefits for government workers.
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