BALTIMORE, Sept. 13, 2023 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.40 trillion as of August 31, 2023. Preliminary net outflows for August 2023 were $7.8 billion, including a redemption from a subadvisory client.
The below table shows the firm's assets under management as of August 31, 2023, and for the prior month-, quarter-, and year-end by asset class and in the firm's target date retirement portfolios.
As of | ||||||||
Preliminary(a) | ||||||||
(in billions) | 8/31/2023 | 7/31/2023 | 6/30/2023 | 12/31/2022 | ||||
Equity | $ 730 | $ 752 | $ 732 | $ 664 | ||||
Fixed income, including money market | 169 | 169 | 169 | 167 | ||||
Multi-asset | 457 | 467 | 453 | 400 | ||||
Alternatives | 46 | 45 | 45 | 44 | ||||
Total assets under management | $ 1,402 | $ 1,433 | $ 1,399 | $ 1,275 | ||||
Target date retirement products | $ 384 | $ 392 | $ 380 | $ 334 | ||||
(a) Preliminary - subject to adjustment
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.
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SOURCE T. Rowe Price Group, Inc.