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.
The 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:
As of | ||||||||||||
Preliminary(a) | ||||||||||||
(in billions) | 7/31/2020 | 6/30/2020 | 12/31/2019 | |||||||||
U.S. mutual funds | ||||||||||||
Equity | $ | 432 | $ | 407 | $ | 407 | ||||||
Fixed income, including money market | 77 | 76 | 74 | |||||||||
Multi-asset(b) | 195 | 188 | 202 | |||||||||
704 | 671 | 683 | ||||||||||
Subadvised and separate accounts and other investment products | ||||||||||||
Equity | 331 | 312 | 292 | |||||||||
Fixed income, including money market | 81 | 77 | 74 | |||||||||
Multi-asset(b) | 166 | 160 | 158 | |||||||||
578 | 549 | 524 | ||||||||||
Total assets under management | $ | 1,282 | $ | 1,220 | $ | 1,207 | ||||||
Target date retirement products | $ | 295 | $ | 284 | $ | 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) | 7/31/2020 | 6/30/2020 | 12/31/2019 | |||||||||
U.S. mutual funds | ||||||||||||
Equity and blended assets | $ | 575 | $ | 544 | $ | 553 | ||||||
Fixed income, including money market | 129 | 127 | 130 | |||||||||
704 | 671 | 683 | ||||||||||
Subadvised and separate accounts and other investment products | ||||||||||||
Equity and blended assets | 460 | 435 | 412 | |||||||||
Fixed income, including money market | 118 | 114 | 112 | |||||||||
578 | 549 | 524 | ||||||||||
Total assets under management | $ | 1,282 | $ | 1,220 | $ | 1,207 | ||||||
(a) | Preliminary - subject to adjustment |
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SOURCE T. Rowe Price Group, Inc.