T. Rowe Price was named the Best Overall Fund Group for large companies at the 2010 U.S. Lipper Fund Awards ceremony held March 24 in New York.

RidgeWorth Funds won Best Overall Fund Group for small companies, in addition to the Best Mixed-Assets Group for small firms.

T. Rowe Price won a total of 26 awards, Fidelity Investments won 15 individual awards, and BlackRock won 12.

"The companies we are honoring with a Lipper Fund Award have proven to be first-rate in managing client assets," said Tom Roseen, Lipper's research manager for the U.S. and Latin America.

"These award-winning funds are subject to an exacting methodology to distinguish the leaders from their competitors and are to be congratulated for delivering consistently strong risk-adjusted performance," Roseen added.

Loomis Sayles won the award for Best Bond Fund Group-Large, and State Farm won for Best Bond Fund Group-Small. PIMCO won Best Equity Fund Group-Large, while Parnassus Investments won Best Equity Fund Group-Small. Janus won Best Mixed-Assets Group-Large.

"After a year like 2009, this is a nice award to receive," said Dan Fuss, vice chairman of Loomis Sayles and a portfolio manager. "This was a good example of 'same bonds; new prices.'

"We did our homework, stuck to our conviction about the bonds we owned, and shareholders have been rewarded. We now face a very different market, and we're hard at work ensuring that our long-term returns are just as satisfying," the reknown portfolio manager continued.

The U.S. is one of the 23 countries covered by Lipper's 2010 fund awards program, which is part of the Thomson Reuters Awards for Excellence.

(c) Copyright 2010 Money Management Executive and SourceMedia, Inc. All rights reserved.

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