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INVESTOR RELATIONS

T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For July 2020

Aug 12, 2020 at 8:30 AM EDT

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

 

Cision View original content:http://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-july-2020-301110898.html

SOURCE T. Rowe Price Group, Inc.

Public Relations, Brian Lewbart, 410-345-2242, brian.lewbart@troweprice.com; Investor Relations, Meghan Azevedo, 410-345-2756, meghan.azevedo@troweprice.com