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T. Rowe Price July AUM Balance Increases Sequentially, Net Flows Flat

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Key Takeaways

  • T. Rowe Price posted $1.70T in AUM for July 2025, up 1.6% from June.
  • Equity products rose 2.4% to $859B, while fixed income grew 1% to $202B.
  • Multi-asset and alternative products also saw modest month-over-month gains.

T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.70 trillion for July 2025. The figure reflected an increase of 1.6% from the prior month. TROW net flows were flat in July 2025.

Breakdown of TROW’s AUM Performance

At the end of July, T. Rowe Price’s equity products totaled $859 billion, an increase of 2.4% from the previous month. Fixed income (including money market) grew 1% to $202 billion. Furthermore, multi-asset products totaled $586 billion, a slight increase from the previous month.

Alternative products, valued at $56 billion, were up 1.8% from the prior month.

T. Rowe Price registered $524 billion in target date retirement portfolios in July 2025, which marginally rose from the prior month.

Our Take on TROW

The company’s diversified business model and ongoing efforts are expected to continue supporting its top-line growth in the future, providing resilience amid market fluctuations. A strong brand, consistent investment record, and decent business volumes are expected to keep supporting AUM growth in the upcoming period. However, the company’s overdependence on investment advisory fees remains concerning.

Performance of Other Asset Managers

Franklin Resources, Inc. (BEN - Free Report) reported its preliminary AUM of $1.62 trillion as of July 31, 2025, which increased slightly from the prior month.

The increase in BEN’s AUM balance was due to the positive impacts of markets and flat preliminary long-term net inflows, inclusive of $3 billion of long-term net outflows at Western Asset Management.

Invesco (IVZ - Free Report) released its preliminary AUM for July 2025. The company’s AUM of $2,024.5 billion as of July 31, 2025, increased 1.2% from the previous month.

IVZ’s AUM was impacted by favorable market returns, resulting in a $22-billion increase in the metric. However, FX decreased the AUM balance by $8.5 billion.


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