Founded in 1937 by Thomas Rowe Price, Jr., T. Rowe Price currently manages $725.5 billion worth assets (as of September 30, 2015). This renowned publicly owned investment management firm manages more than 100 mutual funds across a wide range of categories. Additionally, T. Rowe Price offers other financial services including a wide variety of investment planning, guidance tools, subadvisory services and retirement plans. With over 5,000 employees and more than 5,900 associates, the company serves clients throughout the globe.

Below we share with you 5 top-rated T. Rowe Price mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. To view the Zacks Rank and past performance of all T. Rowe Price mutual funds, investors can click here to see the complete list of T. Rowe Price funds .

T. Rowe Price Media & Telecommunications (PRMTX - MF report) invests a major portion of its assets in securities of companies involved in operations related to media, technology and telecommunications. PRMTX primarily invests in common stocks of large- and mid-cap companies. The T. Rowe Price Media & Telecommunications fund has a three-year annualized return of 15.4%.

Paul D. Greene II is the fund manager of PRMTX since 2013.

T. Rowe Price Blue Chip Growth (TRBCX - MF report) seeks capital appreciation over the long run. TRBCX invests the lion’s share of its assets in common stocks of growth-oriented blue chip companies. TRBCX focuses on acquiring securities of large- and mid-cap companies with strong fundamentals. The T. Rowe Price Blue Chip Growth fund has a three-year annualized return of 16.3%.

TRBCX has an expense ratio of 0.72% as compared to the category average of 1.18%.

T. Rowe Price Capital Appreciation (PRWCX - MF report) invests a minimum of half of its assets in stocks. The rest of its assets are expected to get invested in other securities including convertible securities, debt securities issued by both government and corporate bodies, and bank loans. PRWCX may also invest a maximum of 25% of its assets in securities issued in foreign countries. T. Rowe Price Capital Appreciation fund has a three-year annualized return of 11.5%.

As of September 2015, PRWCX held 265 issues, with 4.21% of its assets invested in Marsh & McLennan Companies Inc.

T. Rowe Price Growth & Income (PRGIX - MF report) seeks long-term growth of capital and income. PRGIX uses bottom-up analysis to invest in both growth and value stocks of companies. To select growth stocks, PRGIX focuses on companies that are expected to provide above-average growth. The T. Rowe Price Growth & Income fund has a three-year annualized return of 13.4%.

Jeffrey Rottinghaus is the fund manager of PRMTX since Jun 01, 2015.

T. Rowe Price CA Tax-Free Bond (PRXCX - MF report) invests a large share of its assets in debt securities that are expected to provide interest income free from federal and California state income taxes. PRXCX seeks high tax-exempted income through prudent portfolio management. The T. Rowe Price CA Tax-Free Bond fund has a three-year annualized return of 4.3%.

PRXCX has an expense ratio of 0.49% as compared to the category average of 0.90%.