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T. Rowe Price (TROW) Reports 2.1% Jump in November AUM
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T. Rowe Price Group, Inc. (TROW - Free Report) announced preliminary assets under management (AUM) of $991 billion for November 2017. Results reflect a 2.1% rise from $971 billion recorded as of Oct 31, 2017.
Client transfers from mutual funds to other portfolios were nil in November 2017.
Month-end total sponsored U.S. mutual funds came in at $609 billion, up nearly 2% from the prior month. Of the total sponsored U.S. mutual funds, around 79% were from stock and blended assets while the remaining 21% came from the bond and money market.
Total other investment portfolios were $382 billion, reflecting an increase of 2.1% from the previous month. Overall, stock and blended assets accounted for $290 billion or 75.9% of other investment portfolios while bond, money market and stable value came in at $92 billion or 24.1%.
T. Rowe Price recorded $232 billion in target date retirement portfolios, which was up 1.8% from $228 billion recorded in the prior month.
Our Viewpoint
T. Rowe Price’s diverse and efficient business model is anticipated to help it further improve AUM. Also, its organic growth remains impressive, as indicated by the continuous rise in revenues. However, mounting expenses continue to hamper bottom-line growth. Further, the company expects expenses to remain elevated due to its initiatives to attract new investment advisory clients.
Shares of T. Rowe Price have gained 35.4% year to date, outperforming 30.8% rally of the industry it belongs to.
Among other investment managers, Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $753.2 billion for November 2017. Results displayed improvement from $750.7 billion recorded as of Oct 30, 2017. Also, the figure moved up 5.4% from the prior-year quarter.
Legg Mason , headquartered at Baltimore, reported 1% rise in AUM, as of Nov 30, 2017, compared with the prior month. Preliminary month-end AUM came in at $763 billion, which included fixed income inflows of $1.4 billion, liquidity inflows of $1.9 billion and a positive foreign exchange impact of $0.8 billion.
Invesco Ltd. (IVZ - Free Report) announced an increase in its preliminary month-end AUM for November 2017. The company’s AUM came in at $937.6 billion, a rise of 1% from the prior month. The rise reflected favorable market returns and inflows in PowerShares QQQs. Also, FX increased November AUM by $3.4 billion.
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
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T. Rowe Price (TROW) Reports 2.1% Jump in November AUM
T. Rowe Price Group, Inc. (TROW - Free Report) announced preliminary assets under management (AUM) of $991 billion for November 2017. Results reflect a 2.1% rise from $971 billion recorded as of Oct 31, 2017.
Client transfers from mutual funds to other portfolios were nil in November 2017.
Month-end total sponsored U.S. mutual funds came in at $609 billion, up nearly 2% from the prior month. Of the total sponsored U.S. mutual funds, around 79% were from stock and blended assets while the remaining 21% came from the bond and money market.
Total other investment portfolios were $382 billion, reflecting an increase of 2.1% from the previous month. Overall, stock and blended assets accounted for $290 billion or 75.9% of other investment portfolios while bond, money market and stable value came in at $92 billion or 24.1%.
T. Rowe Price recorded $232 billion in target date retirement portfolios, which was up 1.8% from $228 billion recorded in the prior month.
Our Viewpoint
T. Rowe Price’s diverse and efficient business model is anticipated to help it further improve AUM. Also, its organic growth remains impressive, as indicated by the continuous rise in revenues. However, mounting expenses continue to hamper bottom-line growth. Further, the company expects expenses to remain elevated due to its initiatives to attract new investment advisory clients.
Shares of T. Rowe Price have gained 35.4% year to date, outperforming 30.8% rally of the industry it belongs to.
T. Rowe currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Among other investment managers, Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $753.2 billion for November 2017. Results displayed improvement from $750.7 billion recorded as of Oct 30, 2017. Also, the figure moved up 5.4% from the prior-year quarter.
Legg Mason , headquartered at Baltimore, reported 1% rise in AUM, as of Nov 30, 2017, compared with the prior month. Preliminary month-end AUM came in at $763 billion, which included fixed income inflows of $1.4 billion, liquidity inflows of $1.9 billion and a positive foreign exchange impact of $0.8 billion.
Invesco Ltd. (IVZ - Free Report) announced an increase in its preliminary month-end AUM for November 2017. The company’s AUM came in at $937.6 billion, a rise of 1% from the prior month. The rise reflected favorable market returns and inflows in PowerShares QQQs. Also, FX increased November AUM by $3.4 billion.
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Download it free >>