T. Rowe Price Group, Inc. · NASDAQ:TROW
T. Rowe Price — Q1 2024 Earnings Presentation
14 slides from T. Rowe Price's earnings presentation, Apr 26, 2024
Slide 1: Spotlight on Retirement
Excerpts from Q1 2024 Earnings Call Spotlight on Retirement T. Rowe Price Group, Inc. April 26, 2024 A copy of this presentation, which includes additional information, is available at investors.troweprice.com. Data as of March 31, 2024, unless otherwise noted. All figures are USD, unless otherwise
Slide 2: Forward-Looking Statement
Forward-Looking Statement This presentation, and other statements that T. Rowe Price may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to T. Rowe Price’s future financial or business performance, strategies, or expectati
Slide 3: Remarks by Dee Sawyer
Remarks by Dee Sawyer Dee Sawyer, Head of Global Distribution, transcript of Q1 2024 Earnings Call on April 26, 2024. I am pleased to join today’s call to talk about our retirement business. As Rob noted, our clients have entrusted us with $1.54 trillion in assets, of that over $1 trillion—more than
Slide 4: Remarks by Dee Sawyer
Remarks by Dee Sawyer Dee Sawyer, Head of Global Distribution, transcript of Q1 2024 Earnings Call on April 26, 2024. § About one quarter of our DC assets are in our Within our target date franchise, we offer higher people convert their retirement assets into income full-service recordkeeping busine
Slide 5: Remarks by Dee Sawyer
Remarks by Dee Sawyer Dee Sawyer, Head of Global Distribution, transcript of Q1 2024 Earnings Call on April 26, 2024. Our broad Distribution organization allows us § The recently-launched Social Security Optimizer And in the fourth quarter, we plan to launch to access all retirement client segments—
Slide 6: Remarks by Dee Sawyer
Remarks by Dee Sawyer Dee Sawyer, Head of Global Distribution, transcript of Q1 2024 Earnings Call on April 26, 2024. It is also important to mention that the breadth I will close by saying that the leadership team of our retirement platform enables us to and our associates are deeply committed to h
Slide 7: Questions & Answers
Questions & Answers Transcript of retirement related questions from Q1 2024 Earnings Call on April 26, 2024 Craig Siegenthaler (Bank of America): Given that Dee is joining us, I do have Rob Sharps: Yes, Craig, this is Rob. I'll just add a few things. One, it's a priority for us a retirement question
Slide 8: Questions & Answers
Questions & Answers Transcript of retirement related questions from Q1 2024 Earnings Call on April 26, 2024 Michael Cyprys (Morgan Stanley): Maybe just sticking with the retirement theme. Our payout solutions, our Retirement Income 2020 solution has been launched I was hoping to double click on decu
Slide 9: Questions & Answers
Questions & Answers Transcript of retirement related questions from Q1 2024 Earnings Call on April 26, 2024 Brian Bedell (Deutsche Bank): Maybe just to go back to the retirement business. is an advantage for us in terms of overall economics, but overall meeting participant Can you talk a little bit
Slide 10: Questions & Answers
Questions & Answers Transcript of retirement related questions from Q1 2024 Earnings Call on April 26, 2024 Kenneth Worthington (JP Morgan): Dee, a couple more questions for you, please. So that would answer the first question–or the second part of your question. BlackRock announced its Paycheck pro
Slide 11: Assets Under Management – by Account Type
Assets Under Management – by Account Type U.S. $ billions 2021 2022 2023 Mar-24 Full-service recordkeeping and plan administration U.S. Defined Contribution – services provided to: $533.0 $410.2 $486.2 $524.7 Investment only U.S. Retirement Plan Sponsors – § $266 billion in assets 162.4 132.4 141.2
Slide 12: U.S. Defined Contribution and Target Date AUM
U.S. Defined Contribution and Target Date AUM As of March 31, 2024. U.S. $ billions. U.S. Defined Contribution AUM - $676B U.S. DC AUM Target Date AUM § Almost 60% ($395B) of $676 $443 our U.S. DC AUM is held in T. Rowe Price target date products. § The other $281B is held in single strategy product
Slide 13: Target Date Franchise
Target Date Franchise U.S. $ billions § $443B of target date retirement AUM as of March 31, 2024 § $6.8B of target date retirement net new flows in Q1 2024 § $13.1B of target date retirement net new flows in full year 2023 Retirement Target Higher Equity Active Management Lower Equity Active Managem
Slide 14: Important Information
Important Information Sources for references in Spotlight on Retirement comments: § DCIO largest providers: Pensions and Investments as of December 2022 § Proprietary assets in record keeping plans: BrightScope/ICI Defined Contribution Plan Profile, issued September 2023 This material, including any