T. Rowe Price Group Reports Preliminary Month-End Assets Under Management for September 2020

Rhea-AI Summary

T. Rowe Price reported preliminary assets under management of $1.31 trillion as of September 30, 2020. Client transfers from mutual funds totaled $0.5 billion in September and $2.4 billion for the quarter. Year-to-date client transfers reached $11.2 billion, including significant transfers to target-date retirement trusts. The total assets reflect a decrease from $1.34 trillion in August, indicating a possible shift in client investment strategies.

Positive

• Preliminary assets under management of $1.31 trillion as of September 30, 2020.
• Client transfers to target-date retirement trusts of $7.7 billion year-to-date.

Negative

• Decrease in total assets from $1.34 trillion in August.
• Client transfers from mutual funds indicate potential outflows.

BALTIMORE, Oct. 12, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.31 trillion as of September 30, 2020.  Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.5 billion in September 2020, and $2.4 billion for the quarter-ended September 30, 2020.  This brings total client transfers for the year-to-date period ended September 30, 2020, to $11.2 billion. These client transfers include $0.1 billion, $1.6 billion and $7.7 billion, respectively, transferred to the target-date retirement trusts during the September, quarter-to-date, and year-to-date periods.

The firm's assets under management as of September 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)		9/30/2020				8/31/2020				6/30/2020				12/31/2019
U.S. mutual funds
Equity		$	442			$	456			$	407			$	407
Fixed income, including money market		78				77				76				74
Multi-asset(b)		196				202				188				202
		716				735				671				683
Subadvised and separate accounts and other investment products
Equity		344				353				312				292
Fixed income, including money market		83				83				77				74
Multi-asset(b)		167				172				160				158
		594				608				549				524
Total assets under management		$	1,310			$	1,343			$	1,220			$	1,207
Target date retirement products		$	297			$	305			$	284			$	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)		9/30/2020				8/31/2020				6/30/2020				12/31/2019
U.S. mutual funds
Equity and blended assets		$	587			$	606			$	544			$	553
Fixed income, including money market		129				129				127				130
		716				735				671				683
Subadvised and separate accounts and other investment products
Equity and blended assets		473				487				435				412
Fixed income, including money market		121				121				114				112
		594				608				549				524
Total assets under management		$	1,310			$	1,343			$	1,220			$	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-september-2020-301150176.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What were TROW's assets under management as of September 30, 2020?

T. Rowe Price's assets under management were $1.31 trillion as of September 30, 2020.

How much did TROW experience in client transfers during September 2020?

T. Rowe Price saw client transfers of $0.5 billion in September 2020.

What is the total client transfer amount year-to-date for TROW as of September 30, 2020?

Total client transfers year-to-date for T. Rowe Price amounted to $11.2 billion as of September 30, 2020.

How much did TROW report in target-date retirement trust transfers?

T. Rowe Price reported $7.7 billion in transfers to target-date retirement trusts year-to-date.

What was the change in TROW's assets under management from August to September 2020?

T. Rowe Price's assets under management decreased from $1.34 trillion in August to $1.31 trillion in September 2020.