T. Rowe Price Group Reports Preliminary Month-end Assets Under Management For May 2021

Rhea-AI Summary

T. Rowe Price Group reported preliminary assets under management of $1.59 trillion as of May 31, 2021. The firm experienced $0.5 billion in client transfers from mutual funds during May 2021, totaling $12.0 billion year-to-date. The breakdown of assets includes $705 billion in equity and blended assets, $145 billion in fixed income, and $376 billion in target date retirement products. The data reflects ongoing client reallocation strategies and strong performance in target date retirement offerings.

Positive

• $1.59 trillion in assets under management as of May 31, 2021.
• Client transfers totaled $12.0 billion year-to-date.
• Equity and blended assets accounted for $705 billion.

Negative

• Client transfers of $0.5 billion in May 2021 may indicate potential volatility in mutual fund inflows.

BALTIMORE, June 10, 2021 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.59 trillion as of May 31, 2021.  Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.5 billion in May 2021 and $6.4 billion for the quarter-to-date period ended May 31, 2021.  This brings total client transfers for the year-to-date period ended May 31, 2021, to $12.0 billion.  These client transfers include $0.1 billion, $5.3 billion, and $10.2 billion, respectively, transferred to the target-date retirement trusts during the May, quarter-to-date, and year-to-date periods.

The firm's assets under management as of May 31, 2021, 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)		5/31/2021				4/30/2021				3/31/2021				12/31/2020
U.S. mutual funds
Equity		$	535			$	539			$	512			$	498
Fixed income, including money market		86				84				82				79
Multi-asset(b)		229				227				222				217
		850				850				816				794
Subadvised and separate accounts and other investment products
Equity		425				428				406				397
Fixed income, including money market		92				91				90				89
Multi-asset(b)		226				224				206				190
		743				743				702				676
Total assets under management		$	1,593			$	1,593			$	1,518			$	1,470
Target date retirement products		$	376			$	372			$	352			$	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)		5/31/2021				4/30/2021				3/31/2021				12/31/2020
U.S. mutual funds
Equity and blended assets		$	705			$	708			$	677			$	661
Fixed income, including money market		145				142				139				133
		850				850				816				794
Subadvised and separate accounts and other investment products
Equity and blended assets		602				604				568				546
Fixed income, including money market		141				139				134				130
		743				743				702				676
Total assets under management		$	1,593			$	1,593			$	1,518			$	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-may-2021-301310038.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What were TROW's assets under management as of May 31, 2021?

T. Rowe Price's assets under management were $1.59 trillion as of May 31, 2021.

How much did TROW experience in client transfers during May 2021?

T. Rowe Price experienced $0.5 billion in client transfers in May 2021.

What is the total client transfer amount for TROW year-to-date?

The total client transfer amount for T. Rowe Price year-to-date is $12.0 billion.

How much does TROW manage in target date retirement products?

T. Rowe Price manages $376 billion in target date retirement products.

What were TROW's equity and blended assets as of May 31, 2021?

T. Rowe Price's equity and blended assets totaled $705 billion as of May 31, 2021.