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The article was published in the March 2021 issue of Morningstar FundInvestor. Download a complimentary copy of FundInvestor by visiting the website.
In January, T. Rowe Price announced that manager Larry Puglia will retire from T. Rowe Price Blue Chip Growth (TRBCX) after a great run dating to 1993. After the announcement, we maintained our Above Average People and Process ratings and a Morningstar Analyst Rating of Silver.
No, we weren’t downplaying Puglia’s role or skill. Rather, we saw this coming and were comfortable with the situation. T. Rowe Price generally maps out manager transitions over a two-year period, so the new manager has time to get up to speed and investors have time to research the change.
Visual Communications Platform Canva Announces USD 15 Billion Valuation; Launches Suite of Presentations Products for the Workplace
on April 07 2021 5:02 AM
More than 85% of the Fortune 500 Embrace Canva to Bolster Collaboration and Productivity, with over 250 million Presentations Created
SYDNEY (BUSINESS WIRE) Canva, the global visual communications platform, today announced an updated valuation of USD 15 billion following a USD 71 million investment.
This latest valuation affirms Canva as one of the fastest-growing software companies in history, surpassing $500 million annualized revenue this year. The company also formally announced a suite of new features for its flagship workplace product, Canva Presentations, which empowers teams around the world to design with ease and collaborate at scale.
Editor’s note:Read the latest on how the coronavirus is rattling the markets and what investors can do to navigate it.
U.S. equity markets kept climbing in 2020’s fourth quarter, making for a strong close to a crazy year. The passage of a second coronavirus relief bill and rollout of COVID-19 vaccines strengthened expectations in a swift bounceback from the pandemic, boosting the S&P 500 index to 33 all-time highs. It ended the year at a record 3,756, up 12.2% in the final quarter and nearly 20% for the year. From the index’s March low, it gained 65.2%. Growth funds across the market-cap spectrum posted the biggest gains, while value continued to underperform.