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

Rhea-AI Summary

T. Rowe Price Group reported $1.52 trillion in preliminary assets under management (AUM) as of March 31, 2021. In March, client transfers were $1.7 billion from mutual funds to other portfolios and $5.6 billion for the quarter. Significant transfers included $1.3 billion to target-date retirement trusts in March. The breakdown of AUM shows investments in U.S. mutual funds include $512 billion in equity and $82 billion in fixed income. The total AUM increased from $1.47 trillion at year-end 2020.

Positive

• Total assets under management increased to $1.52 trillion from $1.47 trillion (year-end 2020).
• Client transfers of $5.6 billion for the quarter indicate strong investor engagement.
• Significant $1.3 billion transfer to target-date retirement trusts reflects client trust in retirement products.

Negative

• Client transfers of $1.7 billion in March may indicate potential concerns regarding mutual fund performance.

BALTIMORE, April 13, 2021 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.52 trillion as of March 31, 2021. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.7 billion in March 2021 and $5.6 billion for the quarter-ended March 31, 2021. These client transfers include $1.3 billion and $4.9 billion, respectively, transferred to the target-date retirement trusts during March and the quarter-to-date period.

The firm's assets under management as of March 31, 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)		3/31/2021				2/28/2021				12/31/2020
U.S. mutual funds
Equity		$	512			$	508			$	498
Fixed income, including money market		82				82				79
Multi-asset(b)		222				219				217
		816				809				794
Subadvised and separate accounts and other investment products
Equity		406				402				397
Fixed income, including money market		90				90				89
Multi-asset(b)		206				200				190
		702				692				676
Total assets under management		$	1,518			$	1,501			$	1,470
Target date retirement products		$	352			$	344			$	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)		3/31/2021				2/28/2021				12/31/2020
U.S. mutual funds
Equity and blended assets		$	677			$	673			$	661
Fixed income, including money market		139				136				133
		816				809				794
Subadvised and separate accounts and other investment products
Equity and blended assets		568				560				546
Fixed income, including money market		134				132				130
		702				692				676
Total assets under management		$	1,518			$	1,501			$	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-march-2021-301267599.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What were T. Rowe Price's assets under management in March 2021?

T. Rowe Price reported preliminary assets under management of $1.52 trillion as of March 31, 2021.

How much did clients transfer from mutual funds in March 2021?

Clients transferred $1.7 billion from mutual funds to other portfolios during March 2021.

What was the total client transfer amount for the quarter ended March 31, 2021?

The total client transfers for the quarter ended March 31, 2021, were $5.6 billion.

How much was transferred to target-date retirement trusts in March 2021?

In March 2021, $1.3 billion was transferred to target-date retirement trusts.