T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For July 2020

Rhea-AI Summary

T. Rowe Price Group reported preliminary month-end assets under management of $1.28 trillion as of July 31, 2020. In July 2020, client transfers from mutual funds to other portfolios totaled $0.6 billion, with $9.4 billion for the year-to-date period. Target-date retirement trusts received $0.5 billion in July and $6.6 billion year-to-date. For July 31, 2020, total assets under management by investment vehicle show a slight increase from June 30, 2020, highlighting T. Rowe Price's diversified investment strategies and its focus on risk-aware asset management.

Positive

• Total assets under management increased to $1.28 trillion as of July 31, 2020.
• Client transfers to target-date retirement trusts amounted to $6.6 billion YTD.

Negative

• Client transfers from mutual funds increased, indicating potential outflows from core investment funds.

BALTIMORE, Aug. 12, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.28 trillion as of July 31, 2020.  Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.6 billion in July 2020 and $9.4 billion for the year-to-date period ended July 31, 2020. These client transfers include $0.5 billion and $6.6 billion, respectively, transferred to the target-date retirement trusts during July and the year-to-date period.

The firm's assets under management as of July 31, 2020, and for the prior 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)		7/31/2020			6/30/2020				12/31/2019
U.S. mutual funds
Equity		$	432		$	407			$	407
Fixed income, including money market		77			76					74
Multi-asset(b)		195			188					202
		704			671					683
Subadvised and separate accounts and other investment products
Equity		331			312					292
Fixed income, including money market		81			77					74
Multi-asset(b)		166			160					158
		578			549					524
Total assets under management		$	1,282		$	1,220			$	1,207
Target date retirement products		$	295		$	284			$	292

(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)		7/31/2020				6/30/2020				12/31/2019
U.S. mutual funds
Equity and blended assets		$	575			$	544			$	553
Fixed income, including money market		129				127				130
		704				671				683
Subadvised and separate accounts and other investment products
Equity and blended assets		460				435				412
Fixed income, including money market		118				114				112
		578				549				524
Total assets under management		$	1,282			$	1,220			$	1,207

(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-july-2020-301110898.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What are T. Rowe Price Group's assets under management as of July 2020?

T. Rowe Price Group reported preliminary assets under management of $1.28 trillion as of July 31, 2020.

How much did T. Rowe Price see in client transfers in July 2020?

In July 2020, T. Rowe Price experienced client transfers amounting to $0.6 billion.

What is the total YTD client transfer amount for T. Rowe Price Group?

The total client transfers for T. Rowe Price Group year-to-date is $9.4 billion as of July 31, 2020.

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

T. Rowe Price reported $0.5 billion transferred to target-date retirement trusts in July 2020, and $6.6 billion year-to-date.

What were T. Rowe Price Group's asset management figures for June 2020?

As of June 30, 2020, T. Rowe Price Group's assets under management were $1.22 trillion.