T. Rowe Price Group, Inc. (TROW - Free Report) reported preliminary assets under management (AUM) of $1.39 trillion as of Jul 31, 2022. This reflects a 6.1% increase from the prior month’s $1.31 trillion.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.5 billion for July 2022 and $8.5 billion for the year-to-date period ended Jul 31, 2022.
T. Rowe Price’s total U.S. mutual fund balance was $699 billion, up 6.4% from June 2022 level. Of the total U.S. mutual funds balance, almost 80% comprised investments in equity and blended assets, while the remaining came from fixed income, including money markets portfolio.
T. Rowe Price’s total sub-advised and separate accounts and other investment products were worth $690 billion, marking 5.7% growth from the prior month. Of this, equity and blended assets, accounting for $503 billion, were up 7% sequentially. While fixed income products, including money-market, constituted $144 billion, alternatives products aggregated $43 billion of total other investment portfolios.
Additionally, TROW registered $348 billion in target date retirement portfolios, which is 6.4% up from the previous month.
TROW remains focused on its long-term strategies for delivering outstanding investment performance. The company also assumes that focusing on fundamentals will accelerate its effort to meet clients’ expectations. Given the upbeat market performance, the overall AUM balance for July improved from the prior month.
Over the past six months, shares of T. Rowe Price have declined 10% compared with the industry’s fall of 8.1%.
The company currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $94 billion as of Jul 31, 2022. This reflects an increase of 7% from the prior month’s level.
The increase in CNS' AUM balance was driven by market appreciation of $6 billion and net inflows of $327 million. These were partially offset by distributions of $183 million.
Victory Capital Holdings (VCTR - Free Report) reported AUM of $164.2 billion for July 2022. The reflects 6% growth $154.95 billion reported as of Jun 30, 2022.
The growth in AUM balance was attributable to a rise in all asset classes of VCTR.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
T. Rowe Price Group, Inc. (TROW - Free Report) reported preliminary assets under management (AUM) of $1.39 trillion as of Jul 31, 2022. This reflects a 6.1% increase from the prior month’s $1.31 trillion.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.5 billion for July 2022 and $8.5 billion for the year-to-date period ended Jul 31, 2022.
T. Rowe Price’s total U.S. mutual fund balance was $699 billion, up 6.4% from June 2022 level. Of the total U.S. mutual funds balance, almost 80% comprised investments in equity and blended assets, while the remaining came from fixed income, including money markets portfolio.
T. Rowe Price’s total sub-advised and separate accounts and other investment products were worth $690 billion, marking 5.7% growth from the prior month. Of this, equity and blended assets, accounting for $503 billion, were up 7% sequentially. While fixed income products, including money-market, constituted $144 billion, alternatives products aggregated $43 billion of total other investment portfolios.
Additionally, TROW registered $348 billion in target date retirement portfolios, which is 6.4% up from the previous month.
TROW remains focused on its long-term strategies for delivering outstanding investment performance. The company also assumes that focusing on fundamentals will accelerate its effort to meet clients’ expectations. Given the upbeat market performance, the overall AUM balance for July improved from the prior month.
Over the past six months, shares of T. Rowe Price have declined 10% compared with the industry’s fall of 8.1%.
The company currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $94 billion as of Jul 31, 2022. This reflects an increase of 7% from the prior month’s level.
The increase in CNS' AUM balance was driven by market appreciation of $6 billion and net inflows of $327 million. These were partially offset by distributions of $183 million.
Victory Capital Holdings (VCTR - Free Report) reported AUM of $164.2 billion for July 2022. The reflects 6% growth $154.95 billion reported as of Jun 30, 2022.
The growth in AUM balance was attributable to a rise in all asset classes of VCTR.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
Get the latest research report on TROW - FREE
Get the latest research report on CNS - FREE
Get the latest research report on VCTR - FREE