T Rowe Price Group Inc - TROW STOCK NEWS

T. Rowe Price Group (NASDAQ-GS: TROW) announced the retirement of Ken Brooks, a senior institutional business development leader, effective June 4, 2021. Mr. Brooks has significantly contributed to the firm's U.S. institutional business, which manages over $200 billion in assets. He will be succeeded by John Masdea and Lesley Nettles, both experienced in institutional sales. T. Rowe Price manages $1.52 trillion in assets as of March 31, 2021, focusing on investment excellence and retirement services.

A study by T. Rowe Price highlights how the pandemic significantly impacted families' financial well-being, prompting more parents to discuss money matters with their children. The 13th annual Parents, Kids & Money Survey indicates 80% of parents felt a financial impact, with 67% reporting negative effects. Racial disparities were evident, as Black and Hispanic families were more likely to negatively experience financial strain and reduce savings. Despite challenges, 47% of parents engaged in weekly money conversations, emphasizing the value of financial discussions for children's future financial responsibility.

T. Rowe Price Group reported $1.52 trillion in preliminary assets under management (AUM) as of March 31, 2021. In March, client transfers were $1.7 billion from mutual funds to other portfolios and $5.6 billion for the quarter. Significant transfers included $1.3 billion to target-date retirement trusts in March. The breakdown of AUM shows investments in U.S. mutual funds include $512 billion in equity and $82 billion in fixed income. The total AUM increased from $1.47 trillion at year-end 2020.

T. Rowe Price, a leading investment management firm, has provided strategies for investors to reduce their 2020 taxable income. Notable tips include contributing to various IRAs and HSAs, which may be tax-deductible. These deductions are available regardless of whether the standard or itemized deduction is used. The recent extension of the federal tax return deadline to May 17, 2021, may allow for additional contributions and guidance from the IRS. As of February 28, 2021, T. Rowe Price manages $1.50 trillion in assets.

T. Rowe Price has launched the Global Impact Equity Fund, its first product aimed at aligning financial goals with positive social and environmental impact. Available initially to U.S. investors, the fund targets companies that contribute to climate action, social equity, and sustainable innovation, while excluding certain industries like fossil fuels and tobacco. Managed by Hari Balkrishna, the fund employs an active management approach and aims for excess returns over the MSCI All-Country World Index. The fund seeks to leverage T. Rowe Price's extensive research capabilities with a net expense ratio of 0.94% for Investor Class shares and 0.79% for I Class shares.

T. Rowe Price has released a white paper revealing that retiree spending declines annually by 2%, challenging traditional retirement income planning principles. The research indicates retirees adjust their spending to align with their income to preserve assets, emphasizing the importance of tailored retirement income solutions. Key findings suggest that wealthier households have more flexibility in spending adjustments, while less wealthy ones may benefit from guaranteed income. To enhance retirement plans, employers should consider diverse income solutions and ongoing financial assistance for retirees.

T. Rowe Price Group (TROW) reported $1.50 trillion in preliminary month-end assets under management as of February 28, 2021. In February, client transfers from mutual funds totaled $1.1 billion, contributing to $3.9 billion for the quarter-to-date. A significant portion of these transfers, $1.1 billion in February and $3.6 billion year-to-date, went to target-date retirement trusts. The firm experienced fluctuations across various investment vehicles and asset classes, maintaining a diversified investment approach.

T. Rowe Price launched a research series on the impact of defined benefit (DB) plans on defined contribution (DC) plans, highlighting challenges faced by plan sponsors. Over 55% of Fortune 500 companies maintain both DB and DC plans. The inaugural paper, "Making the Benefit Connection," emphasizes the need for flexible glide paths aligned with unique sponsor objectives. Additional installments will further explore related topics such as glide path evaluation and the impact of closed DB plans. As of January 31, 2021, T. Rowe Price manages $1.46 trillion in assets.

T. Rowe Price Group (TROW) has opened a new investment research office in Shanghai as of March 1, 2021. This initiative follows the establishment of a wholly foreign-owned enterprise in Shanghai's Free Trade Zone in December 2020. The Shanghai office aims to enhance research coverage of China's investment landscape, housing additional analysts for local company evaluations. T. Rowe Price has invested approximately $4.8 billion in Mainland Chinese securities as of December 31, 2020, and boasts a global assets under management total of $1.46 trillion as of January 31, 2021.