T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR JUNE 2024
T. Rowe Price Group reported its preliminary month-end assets under management (AUM) for June 2024, totaling $1.57 trillion. This represents an increase from $1.542 trillion in May 2024 and $1.445 trillion in December 2023. Despite the overall increase in AUM, the firm experienced net outflows of $2.6 billion for June 2024 and $3.7 billion for the quarter ended June 2024, which includes $1.1 billion of Manager-driven distributions. Notably, equity AUM rose to $810 billion from $790 billion in May 2024. The company will release its Q2 2024 earnings on July 26, 2024, with an earnings call scheduled for the same day.
- Total assets under management increased to $1.57 trillion as of June 30, 2024, from $1.542 trillion in May 2024.
- Equity assets under management rose to $810 billion from $790 billion in May 2024.
- Target date retirement products AUM increased to $453 billion from $447 billion in May 2024.
- Preliminary net outflows were $2.6 billion for June 2024.
- Quarterly net outflows were $3.7 billion for the quarter ended June 2024, including $1.1 billion of Manager-driven distributions.
Insights
T. Rowe Price's recent report on its assets under management (AUM) shows an increase to
The breakdown reveals a growth in equity assets from
However, the net outflows suggest some investors are moving capital elsewhere, possibly due to concerns about market conditions or seeking more aggressive returns. The inclusion of
Retail investors should consider both these inflows and outflows. While the overall AUM growth is positive, the net outflows could signal underlying challenges. It's important to monitor the upcoming Q2 earnings call for more insights on how T. Rowe Price plans to address these trends and what their outlook is for the rest of the year.
The below table shows the firm's assets under management as of June 30, 2024, and for the prior month-, quarter-, and year-end by asset class and in the firm's target date retirement portfolios.
As of | ||||||||
Preliminary(a) | ||||||||
(in billions) | 6/30/2024 | 5/31/2024 | 3/31/2024 | 12/31/2023 | ||||
Equity | $ 810 | $ 790 | $ 803 | $ 744 | ||||
Fixed income, including money market | 180 | 180 | 171 | 170 | ||||
Multi-asset | 529 | 524 | 520 | 483 | ||||
Alternatives | 50 | 48 | 48 | 48 | ||||
Total assets under management | $ 1,569 | $ 1,542 | $ 1,542 | $ 1,445 | ||||
Target date retirement products | $ 453 | $ 447 | $ 443 | $ 408 | ||||
(a) Preliminary - subject to adjustment |
Q2 2024 Earnings Release and Earnings Call
T. Rowe Price will release Q2 2024 earnings on Friday, July 26, 2024 at 7:00 AM ET. The company will host an earnings call from 8:00 – 8:45 AM ET that day. To access the webcast and accompanying materials, visit the company's investor relations website at: investors.troweprice.com
About T. Rowe Price
Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps individuals and institutions around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Clients rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price has
View original content:https://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-june-2024-302194239.html
SOURCE T. Rowe Price Associates, Inc.
FAQ
What were T. Rowe Price's assets under management for June 2024?
How much did T. Rowe Price's equity assets increase in June 2024?
What were the net outflows for T. Rowe Price in June 2024?
When will T. Rowe Price release its Q2 2024 earnings?
What is the stock symbol for T. Rowe Price Group?
