T Rowe Price Group Inc - TROW STOCK NEWS

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.

T. Rowe Price Group (NASDAQ-GS: TROW) reported preliminary month-end assets under management (AUM) of $1.61 trillion as of August 31, 2024. The firm experienced net outflows of $5.3 billion for August 2024. Despite the outflows, total AUM increased from $1.59 trillion in July to $1.61 trillion in August.

The breakdown of AUM by asset class as of August 31, 2024, was:

• Equity: $825 billion
• Fixed income, including money market: $183 billion
• Multi-asset: $553 billion
• Alternatives: $51 billion

Target date retirement portfolios accounted for $474 billion of the total AUM. Compared to the end of 2023, T. Rowe Price's AUM has grown by approximately $167 billion, with increases across all asset classes.

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 prestigious award, presented by Forbes and Statista Inc., is based on an independent survey of over 160,000 employees from companies with at least 500 employees in the U.S.

The ranking considered data from three years, evaluating approximately 4.4 million employer assessments. The final score was determined by two types of evaluations:

• Personal evaluations: Employees' willingness to recommend their employers
• Public evaluations: Recommendations from friends, family, and industry peers

Michelle Swanenburg, head of human resources at T. Rowe Price, expressed pride in the recognition, highlighting the company's commitment to employee growth, well-being, and community support.

T. Rowe Price has launched Personalized Retirement Manager (PRM), an innovative service that combines target date asset allocation with full personalization to enhance retirement outcomes. PRM uses personal data to create tailored asset allocations for individuals, adjusting throughout their retirement savings journey. It can be selected as a Qualified Default Investment Alternative (QDIA) for 401(k) participants.

Key features of PRM include:

• Uses recordkeeping data and optional additional information for personalization
• Designed by T. Rowe Price's target date solutions team
• Comparable pricing to existing target date solutions
• Already in use by several clients for participants nearing retirement

The launch aligns with growing interest in personalization among plan sponsors, with 14% currently offering dynamic QDIA solutions and 51% considering or exploring them.

Oak Hill Advisors (OHA) has played a pivotal role in Carlyle's acquisition of Worldpac, serving as the Administrative Agent and Lead Left Arranger of a private unitranche financing facility. Worldpac, previously a subsidiary of Advance Auto Parts, is a national distributor of automotive parts to independent service professionals. OHA provided the entire unitranche financing, while its partner BMO Capital Markets managed the asset-based lending facility.

OHA's expertise in the automotive aftermarket industry enabled it to offer valuable input and structure a tailored financing solution. Eric Muller, Partner at OHA, expressed enthusiasm about extending their partnership with Carlyle and supporting Worldpac's future growth in its recession-resistant and expanding market.

Oak Hill Advisors (OHA) has provided a $250 million term loan facility to Emergent BioSolutions Inc. (NYSE: EBS), a global company specializing in life-saving products. This refinancing is a important step in Emergent's multi-year plan to stabilize its financial profile. As part of the deal, Emergent issued OHA 2.5 million warrants and common stock worth $10 million. The company aims to reduce net debt by over $200 million this year, positioning itself for future growth and investment opportunities. This bespoke financing structure showcases OHA's strategic approach to addressing complex financial situations, providing Emergent with additional liquidity and flexibility to execute its business plan.