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:
| | | | | | | As of | | | | |
| | | Preliminary(a) | | | | | | | | | | | |
| (in billions) | | 8/31/2020 | | | 7/31/2020 | | | | 6/30/2020 | 12/31/2019 |
| U.S. mutual funds | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Equity | $ | 456 | $ | 432 | $ | 407 | $ | 407 |
| Fixed income, including money market | | 77 | | | 77 | | | | 76 | | | | 74 |
| Multi-asset(b) | | 202 | | | 195 | | | | 188 | | | | 202 |
| | | | 735 | | | 704 | | | | 671 | | | | 683 |
| Subadvised and separate accounts and other | | | | | | | | | | | | | |
| investment products | | | | | | | | | | | | | |
| Equity | | 353 | | | 331 | | | | 312 | | | | 292 |
| Fixed income, including money market | | 83 | | | 81 | | | | 77 | | | | 74 |
| Multi-asset(b) | | 172 | | | 166 | | | | 160 | | | | 158 |
| | | | 608 | | | 578 | | | | 549 | | | | 524 |
| Total assets under management | $ | 1,343 | $ | 1,282 | $ | 1,220 | $ | 1,207 |
| | | | | | | | | | | | | | | |
| Target date retirement products | $ | 305 | $ | 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(a) Preliminary - subject to adjustment
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.
