In an effort to offer a more diversified product to investors, T. Rowe Price introduced the Diversified Mid-Cap Growth Fund last week, a fund geared toward the mid-cap growth area.

The new fund will be managed by Donald J. Peters, a T. Rowe Price skipper since 1993, who also manages three of its tax-efficient funds and several institutional and separately managed accounts.

"The fund is actively managed and leverages the firm’s research and trading experience to add qualitative analysis to the final portfolio construction," Peters said. He said the success his firm has had in the past with qualitative analysis should make the new fund a good "low-turnover option to individual investors."

The fund will be no-load, and offers more holdings and smaller positions than the recently closed Mid-Cap Growth fund.

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