T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR JANUARY 2023

Rhea-AI Summary

T. Rowe Price Group (NASDAQ: TROW) announced preliminary assets under management of $1.35 trillion as of January 31, 2023. This reflects a decrease due to $5.7 billion in net outflows during January, including $1.1 billion transferred from mutual funds to target date retirement trusts.

As of January 2023, equity assets were $391 billion, fixed income at $75 billion, and multi-asset at $196 billion. Compared to December 31, 2022, total assets decreased from $1.275 trillion.

Positive

• Total assets under management remain substantial at $1.35 trillion.
• Equity assets increased from $370 billion to $391 billion.

Negative

• Net outflows of $5.7 billion in January indicate potential investor concerns.
• Overall assets under management decreased from $1.275 trillion to $1.35 trillion.

BALTIMORE, Feb. 10, 2023 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.35 trillion as of January 31, 2023. Preliminary net outflows for January 2023 were $5.7 billion.

The below table shows the firm's assets under management as of January 31, 2023, and for the prior year-end by investment vehicle, by asset class, and in the firm's target date retirement portfolios. Investment vehicle assets under management in January 2023 also reflect client transfers from mutual funds to other portfolios of $1.1 billion, all of which were transfers to the target date retirement trusts.

		As of
		Preliminary(a)
(in billions)		1/31/2023		12/31/2022
U.S. mutual funds
Equity		$            391		$            370
Fixed income, including money market		75		74
Multi-asset		196		184
		662		628
Subadvised and separate accounts and other investment products
Equity		313		294
Fixed income, including money market		96		93
Multi-asset		234		216
Alternatives		44		44
		687		647
Total assets under management		$         1,349		$         1,275
Target date retirement products		$            358		$            334
(a) Preliminary - subject to adjustment

 

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.

View original content:https://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-january-2023-301743715.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What are T. Rowe Price's total assets under management as of January 2023?

T. Rowe Price reported total assets under management of $1.35 trillion as of January 31, 2023.

How much were the net outflows for T. Rowe Price in January 2023?

T. Rowe Price experienced net outflows of $5.7 billion in January 2023.

What was the change in T. Rowe Price's assets from December 2022 to January 2023?

T. Rowe Price's assets decreased from $1.275 trillion as of December 31, 2022, to $1.35 trillion as of January 31, 2023.

How much did T. Rowe Price transfer from mutual funds to retirement trusts in January 2023?

T. Rowe Price transferred $1.1 billion from mutual funds to target date retirement trusts in January 2023.