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

Rhea-AI Summary

T. Rowe Price Group reported preliminary month-end assets under management of $1.67 trillion as of October 31, 2021. The firm experienced client transfers totaling $3.1 billion in October and $21.5 billion year-to-date due to shifts from mutual funds to separate accounts, prominently the target-date retirement trusts, which accounted for $2.2 billion in October. The decline in fixed income assets was attributed to a redemption by a single institutional client.

Positive

• Preliminary assets under management reached $1.67 trillion as of October 31, 2021.
• Client transfers totaled $21.5 billion year-to-date, indicating strong demand.
• Target-date retirement trusts accounted for significant client transfers.

Negative

• Decline in fixed income assets due to a single institutional client redemption.

BALTIMORE, Nov. 10, 2021 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.67 trillion as of October 31, 2021. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $3.1 billion in October 2021 and $21.5 billion for the year-to-date period ended October 31, 2021. These client transfers include $2.2 billion and $14.9 billion, respectively, transferred to the target-date retirement trusts during October and the year-to-date period.

The following table shows the firm's assets under management as of October 31, 2021, and for the prior quarter- and year-end, by investment vehicle, asset class, and in the firm's target date retirement portfolios. The decline in fixed income assets under management within subadvised and separate accounts and other investment products was due to a single institutional client redemption.

		As of
		Preliminary(a)
(in billions)		10/31/2021				9/30/2021				12/31/2020
U.S. mutual funds
Equity		$	572			$	546			$	498
Fixed income, including money market		87				88				79
Multi-asset(b)		233				227				217
		892				861				794
Subadvised and separate accounts and other investment products
Equity		447				428				397
Fixed income, including money market		86				93				89
Multi-asset(b)		246				230				190
		779				751				676
Total assets under management		$	1,671			$	1,612			$	1,470
Target date retirement products		$	393			$	378			$	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)		10/31/2021				9/30/2021				12/31/2020
U.S. mutual funds
Equity and blended assets		$	743			$	711			$	661
Fixed income, including money market		149				150				133
		892				861				794
Subadvised and separate accounts and other investment products
Equity and blended assets		640				608				546
Fixed income, including money market		139				143				130
		779				751				676
Total assets under management		$	1,671			$	1,612			$	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-october-2021-301420997.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What are the month-end assets under management for TROW as of October 31, 2021?

T. Rowe Price reported preliminary assets under management of $1.67 trillion as of October 31, 2021.

How much did T. Rowe Price see in client transfers in October 2021?

In October 2021, client transfers from mutual funds to other portfolios totaled $3.1 billion.

What was the year-to-date client transfer amount for T. Rowe Price by October 31, 2021?

The year-to-date client transfer amount was $21.5 billion as of October 31, 2021.

What caused the decline in fixed income assets for T. Rowe Price?

The decline in fixed income assets was due to a redemption by a single institutional client.