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T. Rowe Price's (TROW) December AUM Increases 3.7% to $1.45T
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T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.45 trillion for December 2023. The figure reflected a 3.7% rise from the last month.
TROW experienced net outflows of $9.4 billion in December 2023 and $28.3 billion in fourth-quarter 2023.
At the end of the reported month, equity products and multi-asset products aggregated $744 billion and $483 billion, up 3.8% and 4.5%, respectively, on a sequential basis. T. Rowe Price registered $408 billion in target date retirement portfolios in December, which grew 4.3% from the prior month.
Alternative products of $48 billion grew 2.1% on a sequential basis. Also, fixed-income products, including the money market, constituted $170 billion, increasing 1.2%.
A diversified business model, focus on enhancing investment capabilities, broadening distribution reach and investing in new product offerings are expected to aid TROW’s long-term growth.
However, overdependence on investment advisory fees is concerning, as market fluctuations and a sudden slowdown in overall business activities are likely to hurt its revenues. Additionally, a rising cost base could impede bottom-line growth.
Over the past three months, shares of T. Rowe Price have gained 10.2% compared with the industry’s growth of 20.1%.
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1.46 trillion for December 2023. This reflected a 3.1% increase from $1.41 trillion as of Nov 30. The rise in the AUM balance was primarily due to the impacts of positive markets and long-term net inflows.
Total month-end fixed-income assets were $511.7 billion, up 3.4% from the prior month’s level. Equity assets of $467.5 billion increased 4.4% from November 2023. BEN recorded $154.6 billion in multi-asset class, up 3.8% sequentially. However, alternative assets aggregated $256.2 billion, down marginally from the last month.
Victory Capital Holdings (VCTR - Free Report) reported AUM of $166.6 billion for December 2023. This reflected a 4.4% rise from the $159.6 billion reported as of Nov 30, 2023.
By asset classes, at the end of December, VCTR’s U.S. Mid Cap Equity AUM rose 5.3% from the November level to $30.6 billion. The U.S. Small Cap Equity AUM of $15.96 billion grew 9.4%. The U.S. Large Cap Equity AUM increased 3.6% to $12.64 billion. The Global/Non-U.S. Equity AUM rose 3.9% to $16.77 billion.
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T. Rowe Price's (TROW) December AUM Increases 3.7% to $1.45T
T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.45 trillion for December 2023. The figure reflected a 3.7% rise from the last month.
TROW experienced net outflows of $9.4 billion in December 2023 and $28.3 billion in fourth-quarter 2023.
At the end of the reported month, equity products and multi-asset products aggregated $744 billion and $483 billion, up 3.8% and 4.5%, respectively, on a sequential basis. T. Rowe Price registered $408 billion in target date retirement portfolios in December, which grew 4.3% from the prior month.
Alternative products of $48 billion grew 2.1% on a sequential basis. Also, fixed-income products, including the money market, constituted $170 billion, increasing 1.2%.
A diversified business model, focus on enhancing investment capabilities, broadening distribution reach and investing in new product offerings are expected to aid TROW’s long-term growth.
However, overdependence on investment advisory fees is concerning, as market fluctuations and a sudden slowdown in overall business activities are likely to hurt its revenues. Additionally, a rising cost base could impede bottom-line growth.
Over the past three months, shares of T. Rowe Price have gained 10.2% compared with the industry’s growth of 20.1%.
Image Source: Zacks Investment Research
TROW 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 $1.46 trillion for December 2023. This reflected a 3.1% increase from $1.41 trillion as of Nov 30. The rise in the AUM balance was primarily due to the impacts of positive markets and long-term net inflows.
Total month-end fixed-income assets were $511.7 billion, up 3.4% from the prior month’s level. Equity assets of $467.5 billion increased 4.4% from November 2023. BEN recorded $154.6 billion in multi-asset class, up 3.8% sequentially. However, alternative assets aggregated $256.2 billion, down marginally from the last month.
Victory Capital Holdings (VCTR - Free Report) reported AUM of $166.6 billion for December 2023. This reflected a 4.4% rise from the $159.6 billion reported as of Nov 30, 2023.
By asset classes, at the end of December, VCTR’s U.S. Mid Cap Equity AUM rose 5.3% from the November level to $30.6 billion. The U.S. Small Cap Equity AUM of $15.96 billion grew 9.4%. The U.S. Large Cap Equity AUM increased 3.6% to $12.64 billion. The Global/Non-U.S. Equity AUM rose 3.9% to $16.77 billion.