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

Rhea-AI Summary

T. Rowe Price reported preliminary assets under management of $1.34 trillion as of August 31, 2020, an increase from $1.28 trillion in July. Client transfers from mutual funds totaled $1.3 billion in August and $10.7 billion year-to-date. Target-date retirement trusts received significant transfers of $1.0 billion, $1.5 billion, and $7.6 billion for August, quarter-to-date, and year-to-date, respectively. The firm's investment strategy emphasizes diversification and risk-aware management.

Positive

• Assets under management increased to $1.34 trillion from $1.28 trillion month-over-month.
• Year-to-date client transfers reached $10.7 billion, demonstrating strong investor interest.
• Significant inflows into target-date retirement trusts indicate a growing preference for retirement-focused products.

Negative

• None.

BALTIMORE, Sept. 11, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.34 trillion as of August 31, 2020.  Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.3 billion in August 2020 and $1.9 billion for the quarter-to-date period ended August 31, 2020.  This brings total client transfers for the year-to-date period ended August 31, 2020, to $10.7 billion.  These client transfers include $1.0 billion, $1.5 billion and $7.6 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, 2020, 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)		8/31/2020				7/31/2020				6/30/2020				12/31/2019
U.S. mutual funds
Equity		$	456			$	432			$	407			$	407
Fixed income, including money market		77				77				76				74
Multi-asset(b)		202				195				188				202
		735				704				671				683
Subadvised and separate accounts and other investment products
Equity		353				331				312				292
Fixed income, including money market		83				81				77				74
Multi-asset(b)		172				166				160				158
		608				578				549				524
Total assets under management		$	1,343			$	1,282			$	1,220			$	1,207
Target date retirement products		$	305			$	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)		8/31/2020				7/31/2020				6/30/2020				12/31/2019
U.S. mutual funds
Equity and blended assets		$	606			$	575			$	544			$	553
Fixed income, including money market		129				129				127				130
		735				704				671				683
Subadvised and separate accounts and other investment products
Equity and blended assets		487				460				435				412
Fixed income, including money market		121				118				114				112
		608				578				549				524
Total assets under management		$	1,343			$	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-august-2020-301128278.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What are TROW's assets under management as of August 31, 2020?

T. Rowe Price's assets under management were $1.34 trillion as of August 31, 2020.

How much did TROW experience in client transfers in August 2020?

In August 2020, T. Rowe Price reported client transfers of $1.3 billion.

What was the total amount of client transfers for TROW year-to-date as of August 2020?

The total client transfers for T. Rowe Price year-to-date as of August 2020 were $10.7 billion.

What inflows did TROW's target-date retirement trusts receive in August 2020?

T. Rowe Price's target-date retirement trusts received inflows of $1.0 billion in August 2020.