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

August 12, 2020

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