David Giroux Honored with Morningstar Award Nomination
David Giroux Nominated for Prestigious Morningstar Award
Award nomination marks the seventh recognition in Giroux's remarkable career.
Recognition in the Allocation Category
T. Rowe Price (NASDAQ: TROW), a global leader in investment management, recently announced the nomination of David Giroux for the 2025 U.S. Morningstar Outstanding Portfolio Manager award in the Allocation category. Giroux's nomination represents an ongoing acknowledgment of his exceptional skills; this marks his seventh nomination after 19 years of providing outstanding portfolio management at T. Rowe Price. Notably, he was named U.S. Morningstar Outstanding Portfolio Manager in both 2012 and 2017.
Giroux's Impact on Capital Appreciation Fund
As chief investment officer and head of investment strategy at T. Rowe Price Investment Management, Giroux oversees the T. Rowe Price Capital Appreciation Fund (Ticker: PRWCX), a role he has held since June 30, 2006. Under his management, the Capital Appreciation Fund has remarkably established a 17-year streak of outperforming its peers in the Morningstar category, which is unprecedented among U.S. equity or multi-asset funds managed by the same individual. This distinction reflects Giroux's dedication to driving superior investment outcomes.
Investment Strategy and Portfolio Management
The Capital Appreciation Fund follows a blended investment strategy, combining common and preferred stocks with fixed income and other asset classes. This strategy aims to manage risk while preserving the principal value of investments. The fund holds the prestigious 5-star rating from Morningstar for overall performance and maintains this rating across various periods, including 1, 3, 5, and 10 years as of March 31, 2025. Furthermore, it has achieved a Morningstar Medalist Rating of Gold, confirming its strong performance within the Moderate Allocation category.
Morningstar Awards Evaluation Process
The Morningstar Awards for Investing Excellence celebrate outstanding portfolio managers and asset management firms known for their superior investment prowess, willingness to diverge from the norm for investor benefit, and alignment of interests with clients. Winners are determined through comprehensive research and qualitative analysis conducted by Morningstar's Manager Research Group.
Giroux's Investment Journey
Embarking on his investment career in 1998 as an associate analyst at T. Rowe Price, Giroux's responsibilities have expanded significantly throughout his tenure. Beyond the Capital Appreciation Fund, he is recognized for managing or co-managing several key investment products:
- T. Rowe Price Capital Appreciation Equity ETF (Ticker: TCAF)
- T. Rowe Price Capital Appreciation Equity SMA
- T. Rowe Price Capital Appreciation and Income Fund (Ticker: PRCFX)
- T. Rowe Price Capital Appreciation Premium Income ETF (Ticker: TCAL)
As of March 31, 2025, portfolios led by Giroux boast total assets under management exceeding $98.3 billion, which includes approximately $64.8 billion concentrated in the Capital Appreciation Fund. T. Rowe Price is committed to surpassing passive benchmark performance through diligent global investment research and a culture of inquiry, aiming for optimal results for clients.
Quotes on Giroux's Achievement
Steph Jackson, head of T. Rowe Price Investment Management stated, "David's latest nomination in the Morningstar awards serves as a testament to his outstanding investment capabilities and remarkable path. His relentless commitment to shareholders sets him apart, and this recognition highlights his influence within the broader asset management sector.”
David Giroux responded, "Receiving recognition from the Morningstar Awards is incredibly meaningful for me and my dedicated team. I'm grateful for their continuous support, and we strive to serve our clients diligently while pushing for excellence in our investments. Thank you to Morningstar for this honor."
About T. Rowe Price
Established in 1937, T. Rowe Price (NASDAQ: TROW) assists individuals and institutions globally in achieving their long-term investment objectives. As a leading asset management organization known for its investment excellence and leadership in retirement planning, T. Rowe Price is built on a foundation of integrity, prioritizing the interests of its clients. They expertly manage various asset classes, including equity, fixed income, and alternatives. As of May 31, 2025, T. Rowe Price manages US $1.62 trillion, with a significant portion tied to retirement accounts.
Important Investment Considerations
Investors should review the objectives, risks, charges, and expenses before investing. For comprehensive information, including prospectuses, please visit T. Rowe Price's official platform.
Frequently Asked Questions
Who is David Giroux?
David Giroux is the chief investment officer and head of investment strategy at T. Rowe Price, widely recognized for his portfolio management expertise.
What award has David Giroux been nominated for?
He has been nominated for the 2025 U.S. Morningstar Outstanding Portfolio Manager award in the Allocation category.
How long has Giroux managed the Capital Appreciation Fund?
David Giroux has managed the T. Rowe Price Capital Appreciation Fund since June 30, 2006.
What distinguishes the Capital Appreciation Fund?
The fund is celebrated for achieving a 17-year track record of outperforming peers and holds multiple Morningstar ratings.
What is T. Rowe Price's focus in investments?
T. Rowe Price emphasizes active management across asset classes and a commitment to generating superior outcomes for their clients through rigorous research.
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