For perspective on the amazing growth that the mutual fund industry has enjoyed in recent years, consider that when James S. Riepe joined T. Rowe Price in 1981 the firm had a modest $13 billion under management. Today, as the 62-year-old Riepe retires, the Baltimore money manager has about $260 billion under management.

It's also testament to Riepe's management acumen, Barron's recently reported.

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