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T. Rowe Price's (TROW) November AUM Increases 6.3% to $1.39T
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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.
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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.
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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.
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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.