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

Rhea-AI Summary

T. Rowe Price Group reported preliminary month-end assets under management of $1.30 trillion as of October 31, 2020, showing slight fluctuations from the previous month.

Client transfers totaled $1.1 billion in October and $12.3 billion year-to-date, with a significant portion ($0.5 billion in October and $8.2 billion year-to-date) moving to target-date retirement trusts. The firm remains a strong presence in investment management with diversified offerings.

Positive

• Total assets under management increased to $1.30 trillion.
• Significant client transfers, indicating active portfolio management.

Negative

• Client transfers indicate a potential shift away from mutual funds.

BALTIMORE, Nov. 11, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.30 trillion as of October 31, 2020.  Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.1 billion in October 2020, and $12.3 billion for the year-to-date period ended October 31, 2020.  These client transfers include $0.5 billion and $8.2 billion, respectively, transferred to the target-date retirement trusts during October and the year-to-date period.

The firm's assets under management as of October 31, 2020, and for the prior 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)		10/31/2020				9/30/2020				12/31/2019
U.S. mutual funds
Equity		$	436			$	442			$	407
Fixed income, including money market		78				78				74
Multi-asset(b)		193				196				202
		707				716				683
Subadvised and separate accounts and other investment products
Equity		342				344				292
Fixed income, including money market		86				83				74
Multi-asset(b)		165				167				158
		593				594				524
Total assets under management		$	1,300			$	1,310			$	1,207
Target date retirement products		$	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)		10/31/2020				9/30/2020				12/31/2019
U.S. mutual funds
Equity and blended assets		$	577			$	587			$	553
Fixed income, including money market		130				129				130
		707				716				683
Subadvised and separate accounts and other investment products
Equity and blended assets		469				473				412
Fixed income, including money market		124				121				112
		593				594				524
Total assets under management		$	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-october-2020-301170925.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What are T. Rowe Price's assets under management for October 2020?

T. Rowe Price reported preliminary assets under management of $1.30 trillion as of October 31, 2020.

How much did T. Rowe Price experience in client transfers in October 2020?

In October 2020, T. Rowe Price experienced client transfers of $1.1 billion.

What is the year-to-date client transfer total for T. Rowe Price?

The year-to-date client transfer total for T. Rowe Price is $12.3 billion as of October 31, 2020.

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

Clients transferred $0.5 billion to target-date retirement trusts in October and $8.2 billion year-to-date.