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T. Rowe Price (TROW) September AUM Down on Lower Equity Assets
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T. Rowe Price Group, Inc. (TROW - Free Report) has announced preliminary assets under management (AUM) of $1.31 trillion for September 2020. The figure reflects a 2.2% decline from the $1.34 trillion recorded as of Aug 31, 2020.
However, following this development, shares of the company have appreciated marginally.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, totaled $0.5 billion this September.
Month-end total sponsored U.S. mutual funds came in at $716 billion, down 2.6% from August 2020. Of the total sponsored U.S. mutual funds, 89.1% was from equity and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $594 billion, marking a 2.3% decrease from the previous month. Overall, equity and blended assets accounted for $511 billion or 86% of other investment portfolios, while money-market and fixed income came in at $83 billion or 14%.
T. Rowe Price recorded $297 billion in target date-retirement portfolios, down 2.6% from the $305 billion witnessed in the prior month.
Our Viewpoint
Although regulatory restrictions and sluggish economic recovery might impair the company’s growth and escalate costs, T. Rowe Price’s diverse and efficient business model is anticipated to boost its AUM. Moreover, its organic growth is impressive, as displayed by continued top-line growth.
Shares of the company have gained 47.8% in the past six months compared with 40% growth registered by the industry.
Cohen & Steers, Inc. (CNS - Free Report) reported preliminary AUM of $70.5 billion as of Sep 30, 2020, which decreased 2.2% from the prior-month level. Market depreciation of $1.2 billion, net outflows of $24 million and distributions outflow of $303 million resulted in this AUM decline.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $1.42 trillion for September. Results display a 1.6% decrease from the $1.44 trillion recorded as of Aug 31, 2020.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,218.2 billion for August represents a 2.2% decrease from the previous month.
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T. Rowe Price (TROW) September AUM Down on Lower Equity Assets
T. Rowe Price Group, Inc. (TROW - Free Report) has announced preliminary assets under management (AUM) of $1.31 trillion for September 2020. The figure reflects a 2.2% decline from the $1.34 trillion recorded as of Aug 31, 2020.
However, following this development, shares of the company have appreciated marginally.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, totaled $0.5 billion this September.
Month-end total sponsored U.S. mutual funds came in at $716 billion, down 2.6% from August 2020. Of the total sponsored U.S. mutual funds, 89.1% was from equity and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $594 billion, marking a 2.3% decrease from the previous month. Overall, equity and blended assets accounted for $511 billion or 86% of other investment portfolios, while money-market and fixed income came in at $83 billion or 14%.
T. Rowe Price recorded $297 billion in target date-retirement portfolios, down 2.6% from the $305 billion witnessed in the prior month.
Our Viewpoint
Although regulatory restrictions and sluggish economic recovery might impair the company’s growth and escalate costs, T. Rowe Price’s diverse and efficient business model is anticipated to boost its AUM. Moreover, its organic growth is impressive, as displayed by continued top-line growth.
Shares of the company have gained 47.8% in the past six months compared with 40% growth registered by the industry.
Currently, T. Rowe Price carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers, Inc. (CNS - Free Report) reported preliminary AUM of $70.5 billion as of Sep 30, 2020, which decreased 2.2% from the prior-month level. Market depreciation of $1.2 billion, net outflows of $24 million and distributions outflow of $303 million resulted in this AUM decline.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $1.42 trillion for September. Results display a 1.6% decrease from the $1.44 trillion recorded as of Aug 31, 2020.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,218.2 billion for August represents a 2.2% decrease from the previous month.
Have You Seen Zacks’ 2020 Election Stock Report?
The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.
The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.
Check out Zacks’ 2020 Election Stock Report >>