T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR SEPTEMBER 2022

Rhea-AI Summary

T. Rowe Price Group reported preliminary assets under management of $1.23 trillion as of September 30, 2022. However, the firm experienced preliminary net outflows of $24.6 billion for the third quarter, leading to a total year-to-date net outflow of $44.6 billion. Notable client transfers included $10.3 billion year-to-date, with significant amounts moving to target date retirement trusts. The numbers reflect a broader trend of decreasing assets compared to prior months and the previous year.

Positive

• Total assets under management reached $1.23 trillion.
• Client transfers to target date retirement trusts totaled $10.3 billion year-to-date.

Negative

• Preliminary net outflows for Q3 2022 were $24.6 billion.
• Year-to-date net outflows totaled $44.6 billion.

BALTIMORE, Oct. 12, 2022 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.23 trillion as of September 30, 2022. Preliminary net outflows for the third quarter of 2022 were $24.6 billion, bringing preliminary year-to-date net outflows to $44.6 billion.

The below table shows the firm's assets under management as of September 30, 2022, and for the prior month-, quarter-, and year-end by investment vehicle, by asset class, and in the firm's target date retirement portfolios. Investment vehicle assets under management also reflect client transfers from mutual funds to other portfolios, including trusts and separate accounts, of $0.3 billion in September 2022, and $3.3 billion for the quarter ended September 30, 2022. This brings total client transfers for the year-to-date period ended September 30, 2022, to $10.3 billion. These client transfers include $0.2 billion, $2.2 billion, and $7.1 billion, respectively, transferred to the target date retirement trusts during the September, third quarter, and year-to-date periods.

		As of
		Preliminary(a)
(in billions)		9/30/2022		8/31/2022		6/30/2022		12/31/2021
U.S. mutual funds
Equity		$            365		$            404		$          391		$            554
Fixed income, including money market		74		78		79		85
Multi-asset(b)		175		189		187		232
		614		671		657		871
Subadvised and separate accounts and other investment products
Equity		283		314		309		439
Fixed income, including money market		91		93		92		90
Multi-asset(b)		199		218		209		246
Alternatives		43		43		43		42
		616		668		653		817
Total assets under management		$         1,230		$         1,339		$        1,310		$          1,688
Target date retirement products		$            311		$            337		$          327		$            391

(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)		9/30/2022		8/31/2022		6/30/2022		12/31/2021
U.S. mutual funds
Equity and blended assets		$            488		$            539		$          524		$            724
Fixed income, including money market		126		132		133		147
		614		671		657		871
Subadvised and separate accounts and other investment products
Equity and blended assets		436		483		470		632
Fixed income, including money market		137		142		140		143
Alternatives		43		43		43		42
		616		668		653		817
Total assets under management		$          1,230		$          1,339		$        1,310		$          1,688

(a)	Preliminary - subject to adjustment

View original content:https://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-september-2022-301647221.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What are the preliminary assets under management for TROW as of September 30, 2022?

T. Rowe Price reported preliminary assets under management of $1.23 trillion as of September 30, 2022.

How much were the net outflows for T. Rowe Price in Q3 2022?

The preliminary net outflows for T. Rowe Price in Q3 2022 were $24.6 billion.

What is the total year-to-date net outflow for TROW?

The total year-to-date net outflow for T. Rowe Price is $44.6 billion.

How much were the client transfers to target date retirement trusts for TROW?

Client transfers to target date retirement trusts amounted to $10.3 billion year-to-date.