We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
T. Rowe Price (TROW) Reports Sequential Growth in July AUM
Read MoreHide Full Article
T. Rowe Price Group, Inc. (TROW - Free Report) announced preliminary assets under management (AUM) of $1.07 trillion for July 2018. Results reflect nearly 2.9% rise from $1.04 trillion recorded on Jun 30, 2018.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.5 billion in July.
Month-end total sponsored U.S. mutual funds came in at $638 billion, up 1.9% from the prior month. Of the total sponsored U.S. mutual funds, around 80% were from stock and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $427 billion, reflecting an increase of 2.2% from the previous month. Overall, stock and blended assets accounted for $329 billion or 77% of other investment portfolios, while money market and fixed income came in at $98 billion or 23%.
T. Rowe Price recorded $251 billion in target date-retirement portfolios, marginally up from $244 billion recorded in June.
Our Viewpoint
Although regulatory restrictions and sluggish economic recovery are likely to impair the company’s growth and escalate costs, T. Rowe Price’s diverse and efficient business model is anticipated to help it further improve AUM. Also, the company’s organic growth remains impressive, as indicated by the continued rise in revenues.
So, we believe, driven by these, the stock has gained 10.8% in the last six months, against 6.9% decline registered by the industry.
Among other investment managers, Franklin Resources (BEN - Free Report) has announced preliminary AUM by its subsidiaries of $733.7 billion for July 2018. Results display 1.3% rise from $724.1 billion recorded as of Jun 30, 2018. Strong market gains were recorded partly offset by net outflows. Furthermore, the figure dipped 2.5% from the previous year.
Invesco Ltd. (IVZ - Free Report) reported preliminary month-end AUM of $987.8 billion for July 2018. The figure reflects a rise of 2.5% from the prior month. This improvement was mainly driven by favorable market returns, increase in money market AUM, full consolidation of the Invesco Great Wall joint venture and reinvestment of distributions. These were partially offset by net long-term outflows and non-management fee earning AUM outflows.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $60.5 billion as of Jul 31, 2018, up almost 1% from the prior-month level. Market appreciation of $653 million was partially offset by net outflows of $72 million and distributions of $261 million.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
T. Rowe Price (TROW) Reports Sequential Growth in July AUM
T. Rowe Price Group, Inc. (TROW - Free Report) announced preliminary assets under management (AUM) of $1.07 trillion for July 2018. Results reflect nearly 2.9% rise from $1.04 trillion recorded on Jun 30, 2018.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.5 billion in July.
Month-end total sponsored U.S. mutual funds came in at $638 billion, up 1.9% from the prior month. Of the total sponsored U.S. mutual funds, around 80% were from stock and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $427 billion, reflecting an increase of 2.2% from the previous month. Overall, stock and blended assets accounted for $329 billion or 77% of other investment portfolios, while money market and fixed income came in at $98 billion or 23%.
T. Rowe Price recorded $251 billion in target date-retirement portfolios, marginally up from $244 billion recorded in June.
Our Viewpoint
Although regulatory restrictions and sluggish economic recovery are likely to impair the company’s growth and escalate costs, T. Rowe Price’s diverse and efficient business model is anticipated to help it further improve AUM. Also, the company’s organic growth remains impressive, as indicated by the continued rise in revenues.
So, we believe, driven by these, the stock has gained 10.8% in the last six months, against 6.9% decline registered by the industry.
T. Rowe currently has 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) has announced preliminary AUM by its subsidiaries of $733.7 billion for July 2018. Results display 1.3% rise from $724.1 billion recorded as of Jun 30, 2018. Strong market gains were recorded partly offset by net outflows. Furthermore, the figure dipped 2.5% from the previous year.
Invesco Ltd. (IVZ - Free Report) reported preliminary month-end AUM of $987.8 billion for July 2018. The figure reflects a rise of 2.5% from the prior month. This improvement was mainly driven by favorable market returns, increase in money market AUM, full consolidation of the Invesco Great Wall joint venture and reinvestment of distributions. These were partially offset by net long-term outflows and non-management fee earning AUM outflows.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $60.5 billion as of Jul 31, 2018, up almost 1% from the prior-month level. Market appreciation of $653 million was partially offset by net outflows of $72 million and distributions of $261 million.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>