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T. Rowe Price (TROW) Posts 2.4% Sequential Fall in February AUM
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T. Rowe Price Group, Inc. (TROW - Free Report) reported preliminary assets under management (AUM) of $1.54 trillion as of Feb 28, 2022, down 2.4% from the prior month’s $1.57 trillion.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $1.4 billion in February 2022.
T. Rowe Price’s total sponsored U.S. mutual fund balance was $787 billion, down 2.7% from the January 2021 reading. Of the total U.S. mutual funds balance, almost 89% comprised investments in equity and blended assets, while the remaining came from the fixed income, including the money markets portfolio.
T. Rowe Price’s total sub advised and separate accounts as well as other investment products were worth $753 billion, marking a 2.1% decline from the prior-month level. Equity and blended assets, accounting for $620 billion or 82% of total other investment portfolios, were up sequentially. While fixed income products, including money-market, constituted $91 billion or 12%, alternatives products aggregated $42 billion or 5.6% of total other investment portfolios.
Additionally, T. Rowe Price registered $369 billion in target date retirement portfolios, down 1.9% from the previous month’s level.
TROW retains its focus on fortifying its business through planned initiatives like launching investment strategies, enhancing client engagement and investing in advisory services. However, rising operating costs are expected to hinder its bottom-line growth. Also, overdependence on investment advisory fees and U.S. equity assets is concerning for the AUM.
Over the past six months, T. Rowe Price stock’s decline of 36.1% has been wider than the industry’s decrease of 19.9%.
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1,486.9 billion for February 2022. This reflects a 2.3% decrease from $1,521.8 billion recorded as of Jan 31, 2021.
Last month's decline in BEN’s AUM was primarily due to the negative impacts of markets and long-term net flows.
Invesco (IVZ - Free Report) announced a preliminary AUM for February 2022. IVZ’s month-end AUM of $1,531.4 billion was down 1.3% from the previous month-end’s reading.
Invesco recorded net long-term inflows of $3.4 billion and money market net inflows of $3.6 billion.
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T. Rowe Price (TROW) Posts 2.4% Sequential Fall in February AUM
T. Rowe Price Group, Inc. (TROW - Free Report) reported preliminary assets under management (AUM) of $1.54 trillion as of Feb 28, 2022, down 2.4% from the prior month’s $1.57 trillion.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $1.4 billion in February 2022.
T. Rowe Price’s total sponsored U.S. mutual fund balance was $787 billion, down 2.7% from the January 2021 reading. Of the total U.S. mutual funds balance, almost 89% comprised investments in equity and blended assets, while the remaining came from the fixed income, including the money markets portfolio.
T. Rowe Price’s total sub advised and separate accounts as well as other investment products were worth $753 billion, marking a 2.1% decline from the prior-month level. Equity and blended assets, accounting for $620 billion or 82% of total other investment portfolios, were up sequentially. While fixed income products, including money-market, constituted $91 billion or 12%, alternatives products aggregated $42 billion or 5.6% of total other investment portfolios.
Additionally, T. Rowe Price registered $369 billion in target date retirement portfolios, down 1.9% from the previous month’s level.
TROW retains its focus on fortifying its business through planned initiatives like launching investment strategies, enhancing client engagement and investing in advisory services. However, rising operating costs are expected to hinder its bottom-line growth. Also, overdependence on investment advisory fees and U.S. equity assets is concerning for the AUM.
Over the past six months, T. Rowe Price stock’s decline of 36.1% has been wider than the industry’s decrease of 19.9%.
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.
Performance of Other Asset Managers
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1,486.9 billion for February 2022. This reflects a 2.3% decrease from $1,521.8 billion recorded as of Jan 31, 2021.
Last month's decline in BEN’s AUM was primarily due to the negative impacts of markets and long-term net flows.
Invesco (IVZ - Free Report) announced a preliminary AUM for February 2022. IVZ’s month-end AUM of $1,531.4 billion was down 1.3% from the previous month-end’s reading.
Invesco recorded net long-term inflows of $3.4 billion and money market net inflows of $3.6 billion.