Press release
T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For May 2020
BALTIMORE, June 10, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.19
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"BALTIMORE, June 10, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.19 trillion as of May 31, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.9 billion in May 2020 and $3.3 billion for the quarter-to-date period ended May 31, 2020. This brings total client transfers for the year-to-date period ended May 31, 2020, to $7.7 billion. These client transfers include $0.2 billion, $0.7 billion, and $5.0 billion, respectively, transferred to the target-date retirement trusts during the May, quarter-to-date, and year-to-date periods.\nIn the assets under management presentation immediately below, the firm has separately broken out the assets under management for the firm's multi-asset portfolios, which will align to the disclosures included in the quarterly earnings release. All prior periods presented have been reclassified to conform to the new presentation. For reference, the table at the end of the release reflects the data with the underlying assets under management of the multi-asset portfolios included within the equity and fixed income lines.\nThe firm's assets under management as of May 31, 2020, and for the prior month-, quarter-, and year-end, by investment vehicle, asset class, and in the firm's target date retirement portfolios are as follows:\nAs of\nPreliminary(a)\n(in billions)\n5/31/2020\n4/30/2020\n3/31/2020\n12/31/2019\nU.S. mutual funds\n Equity\n$\n394\n$\n370\n$\n328\n$\n407\n Fixed income, including money market\n74\n72\n73\n74\n Multi-asset(b)\n185\n178\n161\n202\n653\n620\n562\n683\nSubadvised and separate accounts and other investment products\n Equity\n303\n283\n241\n292\n Fixed income, including money market\n76\n75\n74\n74\n Multi-asset(b)\n154\n147\n132\n158\n533\n505\n447\n524\nTotal assets under management\n$\n1,186\n$\n1,125\n$\n1,009\n$\n1,207\nTarget date retirement products\n$\n277\n$\n266\n$\n242\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 broa...