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BALTIMORE, Jan. 12, 2022 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.69 trillion as of December 31, 2021. The acquisition of Oak Hill Advisors, L.P. (OHA) completed on December 29, 2021, included $57 billion of capital under management(a), of which $47 billion of fee-basis assets under management are included in these preliminary month-end assets under management.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.2 billion in December 2021, and $5.4 billion for the quarter-ended December 31, 2021. This brings total client transfers for 2021 to $23.8 billion. These client transfers include $0.6 billion, $3.5 billion and $16.2 billion, respectively, transferred to the target-date retirement trusts during the December, quarter-to-date, and year-to-date periods.
The following table shows the firm's assets under management as of December 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. The change in assets under management from November 2021 also reflects the redemption of about $2.5 billion of the firm's U.S. mutual fund investments to fund the cash portion of the OHA acquisition.
As of | |||||||||||||||
Preliminary(b) | |||||||||||||||
(in billions) | 12/31/2021 | 11/30/2021 | 9/30/2021 | 12/31/2020 | |||||||||||
U.S. mutual funds | |||||||||||||||
Equity | $ | 554 | $ | 554 | $ | 546 | $ | 498 | |||||||
Fixed income, including money market | 85 | 88 | 88 | 79 | |||||||||||
Multi-asset(c) | 232 | 227 | 227 | 217 | |||||||||||
871 | 869 | 861 | 794 | ||||||||||||
Subadvised and separate accounts and other investment products | |||||||||||||||
Equity | 439 | 433 | 428 | 397 | |||||||||||
Fixed income, including money market | 85 | 85 | 93 | 89 | |||||||||||
Multi-asset(c) | 246 | 241 | 230 | 190 | |||||||||||
770 | 759 | 751 | 676 | ||||||||||||
Acquired fee-basis assets under management | 47 | — | — | — | |||||||||||
Total assets under management | $ | 1,688 | $ | 1,628 | $ | 1,612 | $ | 1,470 | |||||||
Target date retirement products | $ | 391 | $ | 384 | $ | 378 | $ | 332 | |||||||
(a) OHA's capital under management includes net assets value, portfolio value and unfunded capital.(b) Preliminary - subject to adjustment(c) 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) | 12/31/2021 | 11/30/2021 | 9/30/2021 | 12/31/2020 | |||||||||||
U.S. mutual funds | |||||||||||||||
Equity and blended assets | $ | 724 | $ | 720 | $ | 711 | $ | 661 | |||||||
Fixed income, including money market | 147 | 149 | 150 | 133 | |||||||||||
871 | 869 | 861 | 794 | ||||||||||||
Subadvised and separate accounts and other investment products | |||||||||||||||
Equity and blended assets | 632 | 621 | 608 | 546 | |||||||||||
Fixed income, including money market | 138 | 138 | 143 | 130 | |||||||||||
770 | 759 | 751 | 676 | ||||||||||||
Acquired fee-basis assets under management | 47 | — | — | — | |||||||||||
Total assets under management | $ | 1,688 | $ | 1,628 | $ | 1,612 | $ | 1,470 | |||||||
(a) Preliminary - subject to adjustment
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SOURCE T. Rowe Price Group, Inc.
