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

Rhea-AI Summary

T. Rowe Price Group reported preliminary assets under management (AUM) of $1.28 trillion as of October 31, 2022. This marks a rise from $1.23 trillion at the end of September 2022 but a decline from $1.688 trillion year-over-year. In October 2022, client transfers from mutual funds amounted to $0.7 billion and totaled $11.0 billion year-to-date. Notably, $0.6 billion of the October transfers were directed to target date retirement trusts, contributing to the overall asset movement.

Positive

• Assets under management increased from $1.23 trillion to $1.28 trillion month-over-month.
• $0.6 billion of new transfers to target date retirement trusts in October indicate strong investor interest.

Negative

• Year-over-year AUM decreased from $1.688 trillion, indicating a shrinking asset base.
• Client transfers of $11.0 billion year-to-date suggest potential outflows from mutual funds.

BALTIMORE, Nov. 10, 2022 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.28 trillion as of October 31, 2022. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.7 billion in October 2022 and $11.0 billion for the year-to-date period ended October 31, 2022. These client transfers include $0.6 billion and $7.7 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, 2022, and for the prior quarter- and year-end by investment vehicle, by asset class, and in the firm's target date retirement portfolios.

		As of
		Preliminary(a)
(in billions)		10/31/2022		9/30/2022		12/31/2021
U.S. mutual funds
Equity		$            382		$            365		$            554
Fixed income, including money market		74		74		85
Multi-asset(b)		182		175		232
		638		614		871
Subadvised and separate accounts and other investment products
Equity		299		283		439
Fixed income, including money market		90		91		90
Multi-asset(b)		210		199		246
Alternatives		43		43		42
		642		616		817
Total assets under management		$         1,280		$         1,230		$         1,688
Target date retirement products		$            327		$            311		$            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)		10/31/2022		9/30/2022		12/31/2021
U.S. mutual funds
Equity and blended assets		$            513		$            488		$            724
Fixed income, including money market		125		126		147
		638		614		871
Subadvised and separate accounts and other investment products
Equity and blended assets		464		436		632
Fixed income, including money market		135		137		143
Alternatives		43		43		42
		642		616		817
Total assets under management		$          1,280		$          1,230		$          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-october-2022-301674403.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What were TROW's assets under management as of October 31, 2022?

T. Rowe Price reported preliminary assets under management of $1.28 trillion as of October 31, 2022.

How much did TROW experience in client transfers during October 2022?

In October 2022, T. Rowe Price saw client transfers amounting to $0.7 billion.

What is the year-to-date client transfer amount for TROW as of October 31, 2022?

The year-to-date client transfer amount for T. Rowe Price as of October 31, 2022, is $11.0 billion.

How much was transferred to target date retirement trusts in October 2022 by TROW?

In October 2022, $0.6 billion was transferred to T. Rowe Price's target date retirement trusts.

What is the significance of TROW's asset decline year-over-year?

The decline from $1.688 trillion to $1.28 trillion year-over-year indicates challenges in retaining and attracting assets.