(PUB) Morningstar FundInvestor

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T. Rowe Price Manager departures have pared the ranks of T. Rowe Price funds on this list. However, there are still five excellent funds here, including three that are still open to new investors. T. Rowe Price Blue Chip Growth TRBCX has been a winner with Larry Puglia at the helm. He has produced consistent outperformance over a 20 -year career running this fund. T. Rowe Price Equity Income PRFDX has been an easy fund for investors to own under Brian Rogers. However, he will step down in October 2015 . T. Rowe Price International Stock PRITX reflects T. Rowe’s success in getting its overseas efforts to a level near that of their domestic-stock counterparts. Bob Smith has managed to beat his index through some trying times. Vanguard Enjoy yourself. Here are nine cheap, excellent funds that are still open and have whipped their indexes. There are also the three closed Primecap-run funds. Vanguard Dividend Growth VDIGX may be my favorite for its great manager and a strategy that leads to high-quality companies with modest levels of debt. I also like the Wellington-managed allocation funds Vanguard Wellesley Income VWINX and Vanguard Wellington VWELX . These Gold-rated funds are well-run and do a nice job of tamping down volatility. There are also three more-adventurous value funds in the form of Vanguard Selected Value VASVX , Vanguard Windsor VWNDX , and Vanguard Wind- sor II VWNFX . Finally, there are two strong sector funds: Vanguard Health Care VGHCX and Vanguard Energy VGENX , which are not only well- run but also cheaper than most index funds in their categories.

Who Fell Out? Here’s a brief rundown of funds that were on our list last year but didn’t make the cut this time.

Davis Financial RPFGX fell out with the departure of manager Ken Feinberg.

FPA Paramount FPRAX and Hussman Strategic Total Return HSTRX fell out because we down- graded them to Neutral. Invesco Equity and Income ACEIX fell out because it failed the expense-ratio test. The fund moved from moderate-allocation to aggressive-allocation, where its fees are no longer in the cheapest quintile. Janus Triton JATTX dropped out because its managers left for Arrowpoint, where they now run Meridian Growth MERDX . MFS Total Return MSFRX fell out because it is now just a bit behind its index’s return and its fees are a sliver outside the cheapest quintile. Mutual European MEURX and T. Rowe Price Overseas Stock TROSX dropped out because they failed the fee test. Perkins Mid Cap Value JMCVX , PIMCO Income PONDX and PIMCO Total Return PTTRX dropped out because of a Neutral Parent rating. T. Rowe Price New America Growth PRWAX and T. Rowe Price Growth Stock PRGFX lost their managers and thus fell out. T. Rowe Price Mid-Cap Value TRMCX fell out because David Wallack no longer owns shares of the fund. T. Rowe switched its retirement plan to CIT s, which means many managers there now have lower ownership figures. Wasatch Long/Short FMLSX has fallen behind its benchmark and out of our list. œ T. Rowe Price Capital Appreciation PRWCX was bounced by a High Morningstar Risk rating.