BALTIMORE, Nov. 11, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.30 trillion as of October 31, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.1 billion in October 2020, and $12.3 billion for the year-to-date period ended October 31, 2020. These client transfers include $0.5 billion and $8.2 billion, respectively, transferred to the target-date retirement trusts during October and the year-to-date period.
The firm's assets under management as of October 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:
As of | ||||||||||||
Preliminary(a) | ||||||||||||
(in billions) | 10/31/2020 | 9/30/2020 | 12/31/2019 | |||||||||
U.S. mutual funds | ||||||||||||
Equity | $ | 436 | $ | 442 | $ | 407 | ||||||
Fixed income, including money market | 78 | 78 | 74 | |||||||||
Multi-asset(b) | 193 | 196 | 202 | |||||||||
707 | 716 | 683 | ||||||||||
Subadvised and separate accounts and other investment products | ||||||||||||
Equity | 342 | 344 | 292 | |||||||||
Fixed income, including money market | 86 | 83 | 74 | |||||||||
Multi-asset(b) | 165 | 167 | 158 | |||||||||
593 | 594 | 524 | ||||||||||
Total assets under management | $ | 1,300 | $ | 1,310 | $ | 1,207 | ||||||
Target date retirement products | $ | 293 | $ | 297 | $ | 292 | ||||||
(a) Preliminary - subject to adjustment |
(b) 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) | 10/31/2020 | 9/30/2020 | 12/31/2019 | |||||||||
U.S. mutual funds | ||||||||||||
Equity and blended assets | $ | 577 | $ | 587 | $ | 553 | ||||||
Fixed income, including money market | 130 | 129 | 130 | |||||||||
707 | 716 | 683 | ||||||||||
Subadvised and separate accounts and other investment products | ||||||||||||
Equity and blended assets | 469 | 473 | 412 | |||||||||
Fixed income, including money market | 124 | 121 | 112 | |||||||||
593 | 594 | 524 | ||||||||||
Total assets under management | $ | 1,300 | $ | 1,310 | $ | 1,207 | ||||||
(a) Preliminary - subject to adjustment |
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SOURCE T. Rowe Price Group, Inc.