T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For December 2020

Rhea-AI Summary

T. Rowe Price Group reported preliminary month-end assets under management of $1.47 trillion as of December 31, 2020. The firm experienced client transfers from mutual funds to other portfolios amounting to $1.0 billion in December and $2.5 billion for the fourth quarter, totaling $13.7 billion for the entire year. The detailed breakdown of assets includes $794 billion in U.S. mutual funds, indicating a steady growth trend over the previous months. The firm's target-date retirement funds reached $332 billion.

Positive

• Preliminary assets under management reached $1.47 trillion as of December 31, 2020.
• Client transfers for 2020 totaled $13.7 billion, showing significant portfolio movement.
• Target-date retirement products saw assets increase to $332 billion.

Negative

• None.

BALTIMORE, Jan. 13, 2021 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.47 trillion as of December 31, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.0 billion in December 2020, and $2.5 billion for the fourth quarter of 2020. This brings total client transfers for 2020 to $13.7 billion. These client transfers include $0.4 billion in December, $0.9 billion in the fourth quarter, and $8.6 billion in 2020, transferred to the target-date retirement trusts.

The firm's assets under management as of December 31, 2020, and for the prior month-, quarter-, and year-end, by investment vehicle, asset class, and in the firm's target date retirement portfolios are as follows:

	As of
	Preliminary(a)
(in billions)	12/31/2020				11/30/2020				9/30/2020				12/31/2019
U.S. mutual funds
Equity	$	498			$	481			$	442			$	407
Fixed income, including money market	79				79				78				74
Multi-asset(b)	217				211				196				202
	794				771				716				683
Subadvised and separate accounts and other investment products
Equity	397				380				344				292
Fixed income, including money market	89				88				83				74
Multi-asset(b)	190				181				167				158
	676				649				594				524
Total assets under management	$	1,470			$	1,420			$	1,310			$	1,207
Target date retirement products	$	332			$	320			$	297			$	292

(a)	Preliminary - subject to adjustment
(b)	The underlying assets under management of the multi-asset portfolios have been aggregated and presented as a separate line and not reported in the equity and fixed income lines.

Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization that provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The organization also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

Supplemental Information

The following table reflects the data with the underlying assets under management of the multi-asset portfolios included within the equity and fixed income lines.

	As of
	Preliminary(a)
(in billions)	12/31/2020				11/30/2020				9/30/2020				12/31/2019
U.S. mutual funds
Equity and blended assets	$	661			$	640			$	587			$	553
Fixed income, including money market	133				131				129				130
	794				771				716				683
Subadvised and separate accounts and other investment products
Equity and blended assets	546				523				473				412
Fixed income, including money market	130				126				121				112
	676				649				594				524
Total assets under management	$	1,470			$	1,420			$	1,310			$	1,207

(a)	Preliminary - subject to adjustment

 

View original content:http://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-december-2020-301207524.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What were T. Rowe Price's assets under management as of December 2020?

T. Rowe Price reported preliminary assets under management of $1.47 trillion as of December 31, 2020.

How much did T. Rowe Price transfer from mutual funds in December 2020?

In December 2020, T. Rowe Price reported client transfers from mutual funds amounting to $1.0 billion.

What was the total client transfer amount for T. Rowe Price in 2020?

T. Rowe Price reported total client transfers of $13.7 billion for the year 2020.

How did target-date retirement trusts perform for T. Rowe Price in 2020?

Target-date retirement trusts received $8.6 billion in client transfers during 2020.