We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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's (TROW) November AUM Increases 6.3% to $1.39T
Read MoreHide Full Article
T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.39 trillion for November 2023. The figure reflected a 6.3% rise from the last month.
TROW experienced net outflows of $12.6 billion in November 2023.
At the end of the reported month, equity products and multi-asset products aggregated $717 billion and $462 billion, up 7.3% and 7.7%, respectively, on a sequential basis. T. Rowe Price registered $391 billion in target date retirement portfolios in November, which grew 7.4% from the prior month.
Fixed-income products, including the money market, constituted $168 billion, flat sequentially. Also, alternative products of $47 billion were flat on a sequential basis.
A diversified business model, focus on enhancing investment capabilities, broadening distribution reach and improving client experiences are expected to aid TROW’s long-term growth.
However, increased dependence on investment advisory fees is concerning, as market fluctuations and a sudden slowdown in overall business activities are likely to hurt its revenues. Additionally, rising expenses could impede bottom-line expansion.
Over the past six months, shares of T. Rowe Price have declined 11.2% against the industry’s 10.6% growth.
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1.41 trillion for November 2023. This reflected a 6% increase from $1.33 trillion as of Oct 31. The rise in AUM balance was primarily due to the impacts of positive markets and flat long-term net outflows.
Total month-end fixed-income assets were $494.9 billion, up 5.5% from the last month’s level. Equity assets of $447.9 billion increased 9% from October 2023. BEN recorded $148.9 billion in multi-asset class, up 5.8% sequentially. Alternative assets aggregated $257.5 billion, up 1.5% from the last month.
Virtus Investment Partners, Inc. (VRTS - Free Report) recorded a sequential rise of 6.2% in its preliminary AUM balance for November 2023, on the back of favorable market returns. The company reported a month-end AUM of $165.5 billion, which reflected a rise from the Oct 31, 2023 level of $155.8 million.
VRTS offered services to $2.6 billion of other fee-earning assets. This was excluded from the above-mentioned AUM balance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
T. Rowe Price's (TROW) November AUM Increases 6.3% to $1.39T
T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.39 trillion for November 2023. The figure reflected a 6.3% rise from the last month.
TROW experienced net outflows of $12.6 billion in November 2023.
At the end of the reported month, equity products and multi-asset products aggregated $717 billion and $462 billion, up 7.3% and 7.7%, respectively, on a sequential basis. T. Rowe Price registered $391 billion in target date retirement portfolios in November, which grew 7.4% from the prior month.
Fixed-income products, including the money market, constituted $168 billion, flat sequentially. Also, alternative products of $47 billion were flat on a sequential basis.
A diversified business model, focus on enhancing investment capabilities, broadening distribution reach and improving client experiences are expected to aid TROW’s long-term growth.
However, increased dependence on investment advisory fees is concerning, as market fluctuations and a sudden slowdown in overall business activities are likely to hurt its revenues. Additionally, rising expenses could impede bottom-line expansion.
Over the past six months, shares of T. Rowe Price have declined 11.2% against the industry’s 10.6% growth.
Image Source: Zacks Investment Research
T. Rowe Price 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
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1.41 trillion for November 2023. This reflected a 6% increase from $1.33 trillion as of Oct 31. The rise in AUM balance was primarily due to the impacts of positive markets and flat long-term net outflows.
Total month-end fixed-income assets were $494.9 billion, up 5.5% from the last month’s level. Equity assets of $447.9 billion increased 9% from October 2023. BEN recorded $148.9 billion in multi-asset class, up 5.8% sequentially. Alternative assets aggregated $257.5 billion, up 1.5% from the last month.
Virtus Investment Partners, Inc. (VRTS - Free Report) recorded a sequential rise of 6.2% in its preliminary AUM balance for November 2023, on the back of favorable market returns. The company reported a month-end AUM of $165.5 billion, which reflected a rise from the Oct 31, 2023 level of $155.8 million.
VRTS offered services to $2.6 billion of other fee-earning assets. This was excluded from the above-mentioned AUM balance.