T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.50 trillion as of February 28, 2021. Client transfers from mutual funds to other portfolios, including trusts and separate accounts,were $1.1 billion in February 2021 and $3.9 billion for the quarter-to-date period ended February 28, 2021. These client transfers include $1.1 billion and $3.6 billion, respectively, transferred to the target-date retirement trusts during February and the year-to-date period.
The firm's assets under management as of February 28,2021, and for the prior month-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) | 2/28/2021 | 1/31/2021 | 12/31/2020 | |||
| U.S. mutual funds | ||||||
| Equity | $ | 508 | $ | 495 | $ | 498 |
| Fixed income, including money market | 82 | 81 | 79 | |||
| Multi-asset(b) | 219 | 214 | 217 | |||
| 809 | 790 | 794 | ||||
| Sub advised and separate accounts and other investment products | ||||||
| Equity | 402 | 392 | 397 | |||
| Fixed income, including money market | 90 | 89 | 89 | |||
| Multi-asset(b) | 200 | 193 | 190 | |||
| 692 | 674 | 676 | ||||
| Total assets under management | $ | 1,501 | $ | 1,464 | $ | 1,470 |
| Target date retirement products | $ | 344 | $ | 333 | $ | 332 |
- (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, sub advisory 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.
