Morningstar

T. Rowe Price Mid-Cap Value Fund Z Class TRTZX Fund Analysis

Morningstar Medalist Rating
| Medalist Rating as of | See T. Rowe Price Investment Hub

Morningstar’s Analysis TRTZX

Will TRTZX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable TRTZX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the TRTZX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of TRTZX’s parent organization’s priorities and whether they’re in line with investors’ interests.

On the right track.

Associate Analyst Indira Fisher

Indira Fisher

Associate Analyst

Summary

Increased confidence in T. Rowe Price Mid-Cap Value’s unique and assertive approach merits a Process Pillar upgrade to Above Average from Average, while its People Pillar remains at Above Average. Vincent DeAugustino faced a high bar when he took over this strategy from longtime steward David Wallack in 2022. Wallack had led with a contrarian approach, seeking value in companies others were quick to dismiss. It’s a strategy that demanded a great deal of focus, patience, and conviction, but four years in, DeAugustino has shown he can carry it forward. While his background is that of a financial analyst, DeAugustino has demonstrated sharp stock-picking abilities across a range of sectors, including technology, energy, and consumer discretionary. Much of that is because of his close relationship with members of the analyst team, whom he readily credits as core ingredients to his success. Even with his early achievements, he remains humble, reflecting on past mistakes and looking for areas of improvement.

by Indira Fisher
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