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

Rhea-AI Summary

T. Rowe Price Group (TROW) reported preliminary assets under management of $1.68 trillion as of August 31, 2021. The firm experienced client transfers from mutual funds totaling $2.1 billion in August 2021, bringing year-to-date transfers to $17.2 billion. Among these, $12.3 billion was specifically transferred to target-date retirement trusts. The firm continues to provide diverse investment offerings including mutual funds and separate accounts, maintaining a focus on disciplined investment approaches.

Positive

• Preliminary assets under management reached $1.68 trillion as of August 31, 2021.
• Year-to-date client transfers totaled $17.2 billion, indicating strong asset movement.
• $12.3 billion was transferred to target-date retirement trusts, reflecting demand.

Negative

• Client transfers from mutual funds were $2.1 billion for August 2021, indicating potential outflows.

BALTIMORE, Sept. 13, 2021 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.68 trillion as of August 31, 2021. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $2.1 billion in August 2021 and $2.4 billion for the quarter-to-date period ended August 31, 2021.  This brings total client transfers for the year-to-date period ended August 31, 2021, to $17.2 billion.  These client transfers include $1.3 billion, $1.5 billion, and $12.3 billion, respectively, transferred to the target-date retirement trusts during the August, quarter-to-date, and year-to-date periods.

The firm's assets under management as of August 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)		8/31/2021				7/31/2021				6/30/2021				12/31/2020
U.S. mutual funds
Equity		$	573			$	557			$	551			$	498
Fixed income, including money market		88				86				86				79
Multi-asset(b)		234				231				229				217
		895				874				866				794
Subadvised and separate accounts and other investment products
Equity		449				438				435				397
Fixed income, including money market		94				93				92				89
Multi-asset(b)		237				231				230				190
		780				762				757				676
Total assets under management		$	1,675			$	1,636			$	1,623			$	1,470
Target date retirement products		$	390			$	381			$	379			$	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)		8/31/2021				7/31/2021				6/30/2021				12/31/2020
U.S. mutual funds
Equity and blended assets		$	746			$	726			$	719			$	661
Fixed income, including money market		149				148				147				133
		895				874				866				794
Subadvised and separate accounts and other investment products
Equity and blended assets		636				618				615				546
Fixed income, including money market		144				144				142				130
		780				762				757				676
Total assets under management		$	1,675			$	1,636			$	1,623			$	1,470

(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-august-2021-301375213.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What were T. Rowe Price's preliminary assets as of August 31, 2021?

T. Rowe Price reported preliminary assets under management of $1.68 trillion as of August 31, 2021.

How much did T. Rowe Price experience in client transfers during August 2021?

T. Rowe Price experienced client transfers of $2.1 billion in August 2021.

What is the total amount of client transfers by T. Rowe Price year-to-date as of August 31, 2021?

The total client transfers for T. Rowe Price year-to-date as of August 31, 2021, amounted to $17.2 billion.

How much was transferred to target-date retirement trusts by T. Rowe Price in August 2021?

In August 2021, $12.3 billion was transferred to target-date retirement trusts by T. Rowe Price.