Any investors hoping to find a Large Cap Growth fund could think about starting with T. Rowe Price Blue Chip Growth I (TBCIX Quick QuoteTBCIX - Free Report) . TBCIX has a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.

Objective

TBCIX is classified in the Large Cap Growth segment by Zacks, an area full of possibilities. Companies are usually considered to be large-cap if their stock market valuation is more than $10 billion. Large Cap Growth mutual funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers.

History of Fund/Manager

T. Rowe Price is based in Baltimore, MD, and is the manager of TBCIX. T. Rowe Price Blue Chip Growth I debuted in December of 2015. Since then, TBCIX has accumulated assets of about $33.39 billion, according to the most recently available information. The fund is currently managed by Larry J. Puglia who has been in charge of the fund since December of 2015.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. TBCIX has a 5-year annualized total return of 22.14% and is in the top third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 19.63%, which places it in the middle third during this time-frame.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of TBCIX over the past three years is 19.37% compared to the category average of 16.24%. The standard deviation of the fund over the past 5 years is 16.29% compared to the category average of 13.46%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 0.99, so it is likely going to be as volatile as the market at large. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. Over the past 5 years, the fund has a positive alpha of 4.59. This means that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.

Holdings

Investigating the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is largely on equities that are traded in the United States.

The mutual fund currently has 85.23% of its holdings in stocks, with an average market capitalization of $405.61 billion. The fund has the heaviest exposure to the following market sectors:

1. Technology
2. Retail Trade
3. Finance

This fund's turnover is about 28.5%, so the fund managers are making fewer trades than the average comparable fund.

Expenses

Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, TBCIX is a no load fund. It has an expense ratio of 0.56% compared to the category average of 1.02%. TBCIX is actually cheaper than its peers when you consider factors like cost.

Investors should also note that the minimum initial investment for the product is $1 million and that each subsequent investment has no minimum amount.

Bottom Line

Overall, T. Rowe Price Blue Chip Growth I ( TBCIX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, T. Rowe Price Blue Chip Growth I ( TBCIX ) looks like a good potential choice for investors right now.

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