Press release
T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For July 2020
BALTIMORE, Aug. 12, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.28
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"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 $6.6 billion, respectively, transferred to the target-date retirement trusts during July and the year-to-date period.\nThe firm's assets under management as of July 31, 2020, and for the prior quarter- and year-end, by investment vehicle, asset class, and in the firm's target date retirement portfolios are as follows:\nAs of\nPreliminary(a)\n(in billions)\n7/31/2020\n6/30/2020\n12/31/2019\nU.S. mutual funds\n Equity\n$\n432\n$\n407\n$\n407\n Fixed income, including money market\n77\n76\n74\n Multi-asset(b)\n195\n188\n202\n704\n671\n683\nSubadvised and separate accounts and other investment products\n Equity\n331\n312\n292\n Fixed income, including money market\n81\n77\n74\n Multi-asset(b)\n166\n160\n158\n578\n549\n524\nTotal assets under management\n$\n1,282\n$\n1,220\n$\n1,207\nTarget date retirement products\n$\n295\n$\n284\n$\n292\n(a) \nPreliminary - subject to adjustment\n(b) \nThe 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.\nFounded 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.\nSupplemental Information\nThe following table reflects the data with the underlying assets under management of the multi-asset portfolios included within the equity and fixed income lines.\nAs of\nPreliminary(a)\n(in billions)\n7/31/2020\n6/30/2020\n12/31/2019\nU.S. mutual funds\n Equity and blended assets\n$\n575\n$\n544\n$\n553\n Fix...