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.
