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T. Rowe Price has today announced that Dean Tenerelli, manager of the T. Rowe Price Continental European Equity fund since its launch in 2009, is to leave the company at the end of the year.
Toby Mueller will become co- manager on 1 July 2020 and will work alongside Dean for a handover period before becoming sole manager on 1 October 2020.
Commenting on the change, Darius McDermott, managing director of FundCalibre, said: “Dean has been an excellent fund manager and it is a shame he is leaving, but we wish him well with whatever he decides to do next.
“Unfortunately, the fund will have to lose its Elite Rating with Dean’s departure. However, we will be meeting with Toby, who has a short but good track record on another European equity fund, and we will decide whether or not to award it an Elite Radar at our annual July investment committee meeting.”