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T. Rowe Price October AUM Rises 1.3% Sequentially Despite Net Outflows

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Key Takeaways

  • T. Rowe Price's October AUM rose 1.3% month over month to $1.79 trillion.
  • Equity products grew 1.9%, while multi-asset and fixed income each advanced nearly 1%.
  • TROW saw $5.9 billion in net outflows despite overall AUM growth.

T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.79 trillion for October 2025. The figure reflected an increase of 1.3% from the prior month. The company experienced net outflows of $5.9 billion in October 2025.

Breakdown of TROW’s AUM Performance

At the end of October, T. Rowe Price’s equity products totaled $902 billion, an increase of 1.9% from the previous month. Fixed income (including money market) grew nearly 1% to $210

billion. Furthermore, multi-asset products totaled $622 billion, an increase of nearly 1% from the previous month.

Alternative products, valued at $56 billion, remained stable from the prior month.

T. Rowe Price registered $557 billion in target date retirement portfolios in October 2025, which rose 0.7% 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.

T. Rowe Price’s Zacks Rank & Price Performance

Over the past six months, TROW shares have risen 7.7% against the industry’s 1.1% decline.

Zacks Investment ResearchImage Source: Zacks Investment Research

Currently, T. Rowe Price sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Performance of Other Asset Managers

Franklin Resources, Inc. (BEN - Free Report) reported its preliminary assets under management of $1.69 trillion as of Oct. 31, 2025, which increased 1.7% from the prior month.

The increase in the BEN’s AUM balance was due to the positive impact of markets and the acquisition of Apera Asset Management, which was partially offset by preliminary long-term net outflows of $2 billion, inclusive of $4 billion long-term net outflows at Western Asset Management.

Invesco Ltd. (IVZ - Free Report) has announced preliminary assets under management for October 2025. The company’s month-end AUM of $2.17 trillion was up 2% from the previous month.

IVZ reported net long-term inflows of $8 billion for October. Non-management fee-earning net inflows were $6.6 billion, while money market net inflows totaled $11.1 billion. Further, the company was positively impacted by favorable market returns, resulting in a $38 billion rise in AUM. On the other hand, FX lowered the AUM balance by $6.2 billion in October.


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