BALTIMORE, Sept. 11, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.34 trillion as of August 31, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.3 billion in August 2020 and $1.9 billion for the quarter-to-date period ended August 31, 2020. This brings total client transfers for the year-to-date period ended August 31, 2020, to $10.7 billion. These client transfers include $1.0 billion, $1.5 billion and $7.6 billion, respectively, transferred to the target-date retirement trusts during the August, quarter-to-date, and year-to-date periods.
The firm's assets under management as of August 31, 2020, and for the prior month-, quarter- and year-end, by investment vehicle, asset class, and in the firm's target date retirement portfolios are as follows:
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As of
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Preliminary(a)
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(in billions)
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8/31/2020
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7/31/2020
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6/30/2020
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12/31/2019
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U.S. mutual funds
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|
|
|
|
|
|
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Equity
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$
|
456
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|
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$
|
432
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$
|
407
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|
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$
|
407
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Fixed income, including money market
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|
77
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|
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77
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|
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76
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|
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74
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Multi-asset(b)
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|
202
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|
|
195
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|
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188
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|
|
202
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|
|
|
735
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|
|
704
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|
|
671
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|
|
683
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Subadvised and separate accounts and other investment products
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|
|
|
|
|
|
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Equity
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353
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|
|
331
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|
|
312
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|
|
292
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Fixed income, including money market
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|
83
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|
|
81
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|
|
77
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|
|
74
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Multi-asset(b)
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|
172
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|
|
166
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|
|
160
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|
|
158
|
|
|
|
608
|
|
|
578
|
|
|
549
|
|
|
524
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Total assets under management
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$
|
1,343
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|
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$
|
1,282
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|
|
$
|
1,220
|
|
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$
|
1,207
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Target date retirement products
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|
$
|
305
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|
|
$
|
295
|
|
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$
|
284
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|
|
$
|
292
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|
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(a) Preliminary - subject to adjustment
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(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.
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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.
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As of
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Preliminary(a)
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(in billions)
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8/31/2020
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|
7/31/2020
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|
6/30/2020
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12/31/2019
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U.S. mutual funds
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|
|
|
|
|
|
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Equity and blended assets
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$
|
606
|
|
|
$
|
575
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|
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$
|
544
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|
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$
|
553
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Fixed income, including money market
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|
129
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|
|
129
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|
|
127
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|
|
130
|
|
|
|
735
|
|
|
704
|
|
|
671
|
|
|
683
|
|
Subadvised and separate accounts and other investment products
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|
|
|
|
|
|
|
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Equity and blended assets
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|
487
|
|
|
460
|
|
|
435
|
|
|
412
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|
Fixed income, including money market
|
|
121
|
|
|
118
|
|
|
114
|
|
|
112
|
|
|
|
608
|
|
|
578
|
|
|
549
|
|
|
524
|
|
Total assets under management
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|
$
|
1,343
|
|
|
$
|
1,282
|
|
|
$
|
1,220
|
|
|
$
|
1,207
|
|
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(a) Preliminary - subject to adjustment
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SOURCE T. Rowe Price Group, Inc.