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

Rhea-AI Summary

T. Rowe Price Group reported preliminary assets under management of $1.42 trillion as of November 30, 2020. In November 2020, client transfers from mutual funds totaled $0.4 billion, with $1.5 billion for the quarter-to-date period. Year-to-date client transfers reached $12.7 billion, including $0.5 billion and $8.2 billion to target-date retirement trusts. The firm focuses on diversified investment strategies across mutual funds and accounts, continuing to enhance its service offerings for clients.

Positive

• Preliminary assets under management increased to $1.42 trillion.
• Year-to-date client transfers reached $12.7 billion.

Negative

• Client transfers in November 2020 were relatively low at $0.4 billion.

BALTIMORE, Dec. 10, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.42 trillion as of November 30, 2020.  Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.4 billion in November 2020, and $1.5 billion for the quarter-to-date period ended November 30, 2020.  This brings total client transfers for the year-to-date period ended November 30, 2020, to $12.7 billion.  These client transfers include $0.5 billion and $8.2 billion, respectively, transferred to the target-date retirement trusts during the quarter-to-date and year-to-date periods. There were no transfers from mutual funds to the target-date retirement trusts in the month of November.

The firm's assets under management as of November 30, 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)		11/30/2020				10/31/2020				9/30/2020				12/31/2019
U.S. mutual funds
Equity		$	481			$	436			$	442			$	407
Fixed income, including money market		79				78				78				74
Multi-asset(b)		211				193				196				202
		771				707				716				683
Subadvised and separate accounts and other investment products
Equity		380				342				344				292
Fixed income, including money market		88				86				83				74
Multi-asset(b)		181				165				167				158
		649				593				594				524
Total assets under management		$	1,420			$	1,300			$	1,310			$	1,207
Target date retirement products		$	320			$	293			$	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)		11/30/2020				10/31/2020				9/30/2020				12/31/2019
U.S. mutual funds
Equity and blended assets		$	640			$	577			$	587			$	553
Fixed income, including money market		131				130				129				130
		771				707				716				683
Subadvised and separate accounts and other investment products
Equity and blended assets		523				469				473				412
Fixed income, including money market		126				124				121				112
		649				593				594				524
Total assets under management		$	1,420			$	1,300			$	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-november-2020-301190381.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What are the preliminary assets under management for TROW as of November 2020?

T. Rowe Price reported preliminary assets under management of $1.42 trillion as of November 30, 2020.

How much were TROW client transfers in November 2020?

Client transfers from mutual funds in November 2020 totaled $0.4 billion.

What is the total amount of client transfers for TROW year-to-date as of November 2020?

Total client transfers year-to-date for T. Rowe Price reached $12.7 billion.

What amount was transferred to target-date retirement trusts by TROW in November 2020?

There were no transfers from mutual funds to target-date retirement trusts in November 2020.