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T. Rowe Price Group Inc (NASDAQ: TROW) is an independent investment management firm headquartered in Baltimore, Maryland. Founded in 1937, T. Rowe Price is dedicated to helping investors achieve their long-term financial goals. The firm offers a wide array of services including mutual funds, subadvisory services, separate account management, and other related services for individuals, institutions, retirement plan sponsors, and financial intermediaries.
Investment Products and Services: T. Rowe Price provides a broad range of no-load U.S. and international stock, hybrid, bond, and money market funds. As of April 2024, the firm manages $1.485 trillion in assets, comprising equity (51%), balanced (34%), fixed-income and money market (12%), and alternative (3%) offerings. Approximately two-thirds of its managed assets are held in retirement-based accounts, providing a stable client base, especially compared to peers.
Recent Initiatives and Achievements: The firm has been actively involved in various socio-cultural initiatives, as evidenced by its recognition of U.S. Black History Month and International Women's Day. Through its philanthropic arm, the T. Rowe Price Foundation, the company supports various community organizations, allocating over $400,000 to arts and cultural programs since 2018.
Financial Performance: In the latest quarter, T. Rowe Price reported robust financial results with assets under management reaching $1.542 trillion as of March 31, 2024. The company's diverse portfolio includes both first and second lien senior secured loans, with a strong focus on mitigating downside risks.
Global Reach: While primarily a U.S.-based asset manager, T. Rowe Price has a significant global presence, with just under 9% of its AUM derived from overseas. This international reach is further enhanced by its strategic partnerships and comprehensive investment strategies.
Key Partnerships: Recently, T. Rowe Price announced a marquee partnership with the Baltimore Orioles, becoming the exclusive investment and wealth management sponsor of the baseball club. This collaboration aims to elevate T. Rowe Price's brand visibility and engagement at both local and global levels.
Commitment to Diversity and Inclusion: The firm is committed to fostering diversity, equity, and inclusion within its operations and the broader community. This commitment is reflected in its supplier diversity programs and various community-driven initiatives, including significant contributions to women-owned businesses.
Additional Information: For more detailed information, visit the official T. Rowe Price website.
T. Rowe Price Group reported preliminary assets under management of $1.31 trillion as of June 30, 2022. In June, client transfers from mutual funds amounted to $1.2 billion, totaling $2.9 billion for the quarter, and $7.0 billion year-to-date. Significant transfers included $1.0 billion to target date retirement trusts. The report highlights a decline in assets under management in various segments, with equity funds decreasing from $424 billion in May to $391 billion in June.
T. Rowe Price announced the promotions of Lauren Bloom to Head of Canada and Samantha Cleyn to Head of Institutional for Canada, effective July 6, 2022. Bloom will lead the distribution strategy, reporting to Chris Newman, while Cleyn expands her responsibilities nationwide. Since 2018, Bloom has significantly grown the firm’s Canadian distribution, managing over $22.9 billion CAD as of May 31, 2022. Cleyn, previously Head of Eastern Canada, has over 15 years of experience with institutional clients. These changes follow a strategic review after Bruce Winch's retirement on March 1, 2022.
On June 13, 2022, T. Rowe Price shared expert tips for retirement savers amidst ongoing market volatility due to a global crisis. The firm emphasizes that predicting short-term market movements is challenging and advises investors to adhere to long-term plans. Key strategies include ensuring proper asset allocation, diversifying investments, and automating investment decisions to reduce stress. With $1.40 trillion in assets under management as of May 31, 2022, T. Rowe Price aims to help clients manage short-term uncertainties while focusing on long-term growth for a comfortable retirement.
T. Rowe Price Group (TROW) reported preliminary assets under management of $1.40 trillion as of May 31, 2022. Notably, client transfers from mutual funds to other portfolios were minimal, totaling $1.7 billion for the quarter-to-date and $5.8 billion year-to-date. The firm highlighted that out of these transfers, $0.6 billion and $3.9 billion were allocated to target date retirement trusts. This performance indicates a stable client base despite market fluctuations and underscores the firm’s strategic asset management approach.
T. Rowe Price published findings from its Defined Contribution Consultant Research Study, surveying 32 DC consultants serving over 33,000 plan sponsor clients with nearly $7.2 trillion in assets. Key insights include a shift towards ESG investments, with 40% preferring active strategies, and an emphasis on target date solutions that combine active and passive management. Notably, 76% of consultants noted increasing interest in financial wellness programs, yet less than 25% currently offer emergency savings options. The study highlights evolving trends in retirement planning amid changes prompted by COVID-19.
T. Rowe Price Group has appointed Poppy Allonby as the head of ESG Enablement starting June 6, 2022. Allonby brings 20 years of experience in asset management and will be a key member of the ESG Leadership Committee, responsible for executing the company's ESG strategy and overseeing its corporate ESG positioning and product range. Previously, she led sustainable product strategies at BlackRock, managing over $970 billion in assets. T. Rowe Price, based in Baltimore, manages $1.42 trillion in assets as of April 30, 2022.
T. Rowe Price Group reported preliminary assets under management of $1.42 trillion as of April 30, 2022. In April, client transfers from mutual funds to other portfolios totaled $1.7 billion, totaling $5.8 billion year-to-date. Transfers to target date retirement trusts were $0.6 billion in April and $3.9 billion year-to-date. The firm’s mutual funds showed a decline in equity assets to $435 billion from $489 billion in March. Overall, T. Rowe Price’s investment management strategy emphasizes diversification and fundamental research.
T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) declared a quarterly dividend of $1.20 per share, payable on June 29, 2022, for stockholders of record as of June 15, 2022.
At its annual meeting, stockholders elected all 13 Board nominees and approved the 2021 compensation for named executive officers. KPMG LLP was reappointed as the independent registered public accounting firm for 2022. T. Rowe Price manages $1.55 trillion in assets as of March 31, 2022, focusing on diversified investment approaches.
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