T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For February 2021

Rhea-AI Summary

T. Rowe Price Group (TROW) reported $1.50 trillion in preliminary month-end assets under management as of February 28, 2021. In February, client transfers from mutual funds totaled $1.1 billion, contributing to $3.9 billion for the quarter-to-date. A significant portion of these transfers, $1.1 billion in February and $3.6 billion year-to-date, went to target-date retirement trusts. The firm experienced fluctuations across various investment vehicles and asset classes, maintaining a diversified investment approach.

Positive

• Total assets under management increased to $1.50 trillion.
• Client transfers to target-date retirement trusts reached $3.6 billion year-to-date.
• February 2021 client transfers totaled $1.1 billion.

Negative

• Client transfers indicate potential outflows from other mutual funds.

BALTIMORE, March 10, 2021 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.50 trillion as of February 28, 2021. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.1 billion in February 2021 and $3.9 billion for the quarter-to-date period ended February 28, 2021. These client transfers include $1.1 billion and $3.6 billion, respectively, transferred to the target-date retirement trusts during February and the year-to-date period.

The firm's assets under management as of February 28, 2021, and for the prior month - 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)		2/28/2021				1/31/2021				12/31/2020
U.S. mutual funds
Equity		$	508			$	495			$	498
Fixed income, including money market		82				81				79
Multi-asset(b)		219				214				217
		809				790				794
Subadvised and separate accounts and other investment products
Equity		402				392				397
Fixed income, including money market		90				89				89
Multi-asset(b)		200				193				190
		692				674				676
Total assets under management		$	1,501			$	1,464			$	1,470
Target date retirement products		$	344			$	333			$	332

(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)		2/28/2021				1/31/2021				12/31/2020
U.S. mutual funds
Equity and blended assets		$	673			$	654			$	661
Fixed income, including money market		136				136				133
		809				790				794
Subadvised and separate accounts and other investment products
Equity and blended assets		560				542				546
Fixed income, including money market		132				132				130
		692				674				676
Total assets under management		$	1,501			$	1,464			$	1,470

(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-february-2021-301244573.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What are T. Rowe Price's assets under management as of February 2021?

As of February 28, 2021, T. Rowe Price reported assets under management of $1.50 trillion.

How much did client transfers total in February 2021 for T. Rowe Price?

Client transfers from mutual funds totaled $1.1 billion in February 2021.

What was the total client transfer amount for T. Rowe Price for the quarter-to-date ending February 28, 2021?

The total client transfer amount for the quarter-to-date period ending February 28, 2021, was $3.9 billion.

How much was transferred to target-date retirement trusts by T. Rowe Price in February 2021?

In February 2021, T. Rowe Price saw $1.1 billion transferred to target-date retirement trusts.