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T. Rowe Price (TROW) Reports 2.4% Hike in August AUM
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T. Rowe Price Group, Inc. (TROW - Free Report) reported preliminary assets under management (AUM) of $1.68 trillion as of Aug 31, 2021. This reflects a 2.4% increase from the prior month’s $1.62 trillion.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $2.1 billion in August 2021.
Total sponsored U.S. mutual funds came in at $895 billion, up 2.4% from July 2021. Of the total U.S. mutual funds balance, 90.2% comprised investments in equity and blended assets, while the remaining came in from the fixed income and money markets.
Total other investment portfolios were worth $780 billion, marking a 2.4% rise from the prior month. Overall, equity and blended assets accounted for $669 billion or 88% of total other investment portfolios, while money-market and fixed income products constituted $94 billion or 12%.
T. Rowe Price registered $390 billion in target date-retirement portfolios, reflecting a 2.4% increase from the $381 billion witnessed in the previous month.
Our Viewpoint
T. Rowe Price’s robust balance sheet provides sufficient liquidity, thereby supporting the roll out of new funds. Also, its diverse business model is anticipated to stoke AUM growth. However, elevated costs and stringent regulatory pressure across the investment management industry might be headwinds over the long term.
Over the past six months, shares of T. Rowe Price have risen 25%, outperforming the industry’s growth of 17.2%.
Lazard Ltd. (LAZ - Free Report) recorded a 1.6% rise in preliminary AUM, as of Aug 31, 2021, from the previous month. The total AUM balance aggregated $282.8 billion, marking an increase from the prior month’s $278.4 billion.
Artisan Partners Asset Management Inc. (APAM - Free Report) reported preliminary AUM of $181.1 billion as of Aug 31, 2021. Artisan Funds and Artisan Global Funds aggregated for $88.6 billion of total firm AUM, while separate accounts and other AUM accounted for $92.5 billion.
Franklin Resources (BEN - Free Report) recorded a preliminary AUM balance of $ 1,572.1 billion for August 2021. This highlighted a marginal rise from $1,557.3 billion recorded as of Jul 31, 2021.
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T. Rowe Price (TROW) Reports 2.4% Hike in August AUM
T. Rowe Price Group, Inc. (TROW - Free Report) reported preliminary assets under management (AUM) of $1.68 trillion as of Aug 31, 2021. This reflects a 2.4% increase from the prior month’s $1.62 trillion.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $2.1 billion in August 2021.
Total sponsored U.S. mutual funds came in at $895 billion, up 2.4% from July 2021. Of the total U.S. mutual funds balance, 90.2% comprised investments in equity and blended assets, while the remaining came in from the fixed income and money markets.
Total other investment portfolios were worth $780 billion, marking a 2.4% rise from the prior month. Overall, equity and blended assets accounted for $669 billion or 88% of total other investment portfolios, while money-market and fixed income products constituted $94 billion or 12%.
T. Rowe Price registered $390 billion in target date-retirement portfolios, reflecting a 2.4% increase from the $381 billion witnessed in the previous month.
Our Viewpoint
T. Rowe Price’s robust balance sheet provides sufficient liquidity, thereby supporting the roll out of new funds. Also, its diverse business model is anticipated to stoke AUM growth. However, elevated costs and stringent regulatory pressure across the investment management industry might be headwinds over the long term.
Over the past six months, shares of T. Rowe Price have risen 25%, outperforming the industry’s growth of 17.2%.
Image Source: Zacks Investment Research
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.
Competitive Landscape
Lazard Ltd. (LAZ - Free Report) recorded a 1.6% rise in preliminary AUM, as of Aug 31, 2021, from the previous month. The total AUM balance aggregated $282.8 billion, marking an increase from the prior month’s $278.4 billion.
Artisan Partners Asset Management Inc. (APAM - Free Report) reported preliminary AUM of $181.1 billion as of Aug 31, 2021. Artisan Funds and Artisan Global Funds aggregated for $88.6 billion of total firm AUM, while separate accounts and other AUM accounted for $92.5 billion.
Franklin Resources (BEN - Free Report) recorded a preliminary AUM balance of $ 1,572.1 billion for August 2021. This highlighted a marginal rise from $1,557.3 billion recorded as of Jul 31, 2021.