T Rowe Price Group Inc - TROW STOCK NEWS

T. Rowe Price has published a new white paper revealing how combining an annuity with a drawdown strategy can balance retirement income and liquidity. The paper suggests that this approach can provide a high level of retirement income while maintaining adequate liquidity for retirees.

Key insights include:

• A growing trend of defined contribution participants staying in-plan upon retirement
• More plan sponsors exploring in-plan retirement income solutions
• Pairing drawdown strategies with annuities may better match retirees' needs for income and fund access
• The importance of due diligence for plan sponsors in insurer selection and product evaluation

T. Rowe Price aims to empower plan sponsors and advisors with research and knowledge to make impactful decisions for retirement savers at every stage.

Oak Hill Advisors (OHA) has led a comprehensive debt refinancing for Alkegen, a global specialty materials platform. OHA served as the lead lender and Lead Left Arranger, providing the largest portion of the new senior facility. The refinancing includes:

• A new $1,925 million first lien term loan and notes facilities
• A new $200 million first-out revolving credit facility

The proceeds will be used to refinance existing first lien term loans, pay down revolver borrowings, extend maturities, and provide liquidity for Alkegen's growth and operational plans. Additionally, most existing holders of Alkegen's secured and unsecured notes due 2028 and 2029 exchanged their notes for new second lien notes due 2029. Alkegen is also offering to exchange remaining notes for new second lien notes.

T. Rowe Price has announced the formation of the T. Rowe Price Investment Institute, set to launch on January 1, 2025. The Institute will focus on enhancing investment talent development and strengthening the delivery of proprietary investment insights to clients. Justin Thomson, a 26-year company veteran and current head of International Equity and chief investment officer, will lead the initiative.

The Institute aims to establish a center of excellence for developing differentiated investment thought leadership and internal talent. It will curate insights from T. Rowe Price's research organization, develop educational content, and engage with experts in business, academia, and other institutions on topics such as portfolio construction, behavioral finance, and geopolitics.

Thomson, based in London, brings over 33 years of investment experience to the role. The Institute is positioned as an important educational resource for investment professionals and clients, addressing the increasing risks in today's markets and the need for timely, actionable insights.

T. Rowe Price is launching the third season of its investment-themed podcast series, 'The Angle', focusing on the upcoming U.S. presidential election. The new season, titled 'Inside the U.S. Election Maze: Unraveling Fiscal, Trade, and Energy Plans', debuts on September 25th with weekly episodes through October 9th. Hosted by Ritu Vohora, a global capital markets investment specialist, the series will feature discussions with experts on critical policy issues like the economy, trade, and energy transition. Notable guests include Blerina Uruçi, Gil Fortgang, Chris Kushlis, and Rick de Los Reyes. Episodes will be available on platforms like Spotify and Apple Podcasts. Previous seasons explored topics such as the blue economy and artificial intelligence.

T. Rowe Price (TROW) has been named to Constellation's Finance organization's 2024 DEI Honor Roll, recognizing the company's commitment to diversity, equity, and inclusion. The global investment management firm is one of 13 companies honored for their dedication to fostering pivotal DEI policies and programs. T. Rowe Price's DEI strategy is integral to its core values and business strategies, focusing on growing and supporting a diverse workforce, engaging and developing associates, and sustaining an inclusive culture.

With a global diverse population of 58%, T. Rowe Price applies DEI strategies in training, leadership development, and associate-led resource groups. The company underwent assessment based on various factors, including board composition, corporate DEI framework, and policies. This recognition highlights T. Rowe Price's commitment to creating a welcoming environment for all and its dedication to long-term success through diversity of backgrounds, perspectives, and experiences.

T. Rowe Price's 2024 Defined Contribution Consultant Study reveals key trends in retirement planning. Retirement income has become a priority, with only 19% of plan sponsors lacking an opinion on it, down from 59% in 2021. Personalization is seen as crucial, especially for those nearing retirement, with strong support for managed accounts as an opt-in option.

Other findings include:

• 89% of firms focus more on diversification in fixed income investments
• Support for non-traditional bonds in target date solutions
• Preference for active management in return-seeking fixed income strategies
• Transition from mutual funds to collective investment trusts (CITs) for target date solutions
• 70% predict increased availability of in-plan emergency savings programs

The study, based on insights from 35 DC consultants and advisory firms managing over $7.5 trillion, highlights the evolving landscape of retirement planning and investment strategies.

T. Rowe Price (TROW) is celebrating Hispanic Heritage Month by highlighting its commitment to diversity and inclusion. The firm recognizes the importance of diverse backgrounds in its global asset management success. Pedro Landa, a senior infrastructure operations analyst, recently attended the Association of Latino Professionals For America (ALPFA) 2024 National Convention, where he connected with students interested in T. Rowe Price's summer 2025 internship program. Landa participated in the ALPFA divERGe Employee Resource Group Training Program, gaining insights on motivating associates and creating inclusive spaces. He plans to apply these learnings to initiatives with MOSAIC @ T. Rowe Price's Latinx Heritage Community and other business resource groups.

T. Rowe Price, a global investment management firm based in Baltimore, Maryland, has been named to the Forbes list of America's Best-In-State Employers 2024. This recognition is based on an independent survey of over 160,000 employees working for companies with at least 500 employees in the U.S. The ranking considered approximately 4.4 million employer evaluations over three years.

The evaluation process included both personal recommendations from employees and public evaluations from friends, family, and industry professionals. Michelle Swanenburg, head of human resources at T. Rowe Price, emphasized the company's commitment to employee growth, well-being, and community support. This recognition highlights T. Rowe Price's status as one of the best employers in Maryland.

T. Rowe Price has published a white paper commemorating the 50th anniversary of the Employee Retirement Income Security Act (ERISA) and its impact on retirement savings in America. The paper highlights the success of defined contribution (DC) plans and their future potential. Key insights include:

• DC plans and IRAs account for 63% of the $40 trillion in U.S. retirement market assets
• DC plans have expanded access, increased participation and savings rates, and provided diversified investments
• Auto-enrollment features significantly enhance participation rates (83% vs. 36% without)
• Over 75% of middle-income families' liquid financial assets are in retirement accounts
• Combination of employer-sponsored plans and Social Security can meaningfully replace income in retirement

The paper also emphasizes the need for continued improvements in auto-features adoption, addressing savings disparities, and delivering personalized solutions to enhance retirement outcomes for all Americans.