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T. Rowe Price's (TROW) January AUM Rises Marginally 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 January 2024. The figure reflected a marginal rise from the last month.
TROW experienced net outflows of $4.8 billion in January 2024.
At the end of the reported month, equity products and multi-asset products aggregated $747 billion and $486 billion, rising marginally and about 1%, respectively, on a sequential basis. T. Rowe Price registered $411 billion in target date retirement portfolios in January, which grew 1% from the prior month.
Fixed-income products, including the money market, constituted $170 billion, remaining flat from the December-end level. However, alternative products of $47 billion declined 2.1% on a sequential basis.
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. This is because market fluctuations and a sudden slowdown in overall business activities are likely to hurt its revenues. Additionally, a rising cost base could impede its bottom-line growth.
Over the past three months, shares of T. Rowe Price have gained 13.4% compared with the industry’s growth of 22.6%.
Cohen & Steers, Inc. (CNS - Free Report) reported preliminary AUM of $79.3 billion as of Jan 31, 2024. This reflected a decline of 4.6% from the prior month's level.
The decrease was due to a net outflow of $1.5 billion, a market depreciation of $2.2 billion and distributions of $157 million.
Franklin Resources, Inc. (BEN - Free Report) reported preliminary month-end AUM of $1.60 trillion as of Jan 31, 2024. This reflected an increase of 9.6% from the prior-month level.
The increase was driven by the acquisition of Putnam Investments (closed on Jan 1). This was partly offset by modest long-term net outflows.
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T. Rowe Price's (TROW) January AUM Rises Marginally to $1.45T
T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.45 trillion for January 2024. The figure reflected a marginal rise from the last month.
TROW experienced net outflows of $4.8 billion in January 2024.
At the end of the reported month, equity products and multi-asset products aggregated $747 billion and $486 billion, rising marginally and about 1%, respectively, on a sequential basis. T. Rowe Price registered $411 billion in target date retirement portfolios in January, which grew 1% from the prior month.
Fixed-income products, including the money market, constituted $170 billion, remaining flat from the December-end level. However, alternative products of $47 billion declined 2.1% on a sequential basis.
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. This is because market fluctuations and a sudden slowdown in overall business activities are likely to hurt its revenues. Additionally, a rising cost base could impede its bottom-line growth.
Over the past three months, shares of T. Rowe Price have gained 13.4% compared with the industry’s growth of 22.6%.
Image Source: Zacks Investment Research
TROW currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Cohen & Steers, Inc. (CNS - Free Report) reported preliminary AUM of $79.3 billion as of Jan 31, 2024. This reflected a decline of 4.6% from the prior month's level.
The decrease was due to a net outflow of $1.5 billion, a market depreciation of $2.2 billion and distributions of $157 million.
Franklin Resources, Inc. (BEN - Free Report) reported preliminary month-end AUM of $1.60 trillion as of Jan 31, 2024. This reflected an increase of 9.6% from the prior-month level.
The increase was driven by the acquisition of Putnam Investments (closed on Jan 1). This was partly offset by modest long-term net outflows.