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T. Rowe Price (TROW) Records 2.3% Decline in February AUM

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T. Rowe Price Group (TROW - Free Report) announced preliminary assets under management (AUM) of $1.02 trillion for February 2018. Results reflect 2.3% fall from $1.05 trillion as of Jan 31, 2018.

Client transfers from mutual funds to other portfolios of $4.8 billion were recorded in February 2018.

Month-end total sponsored U.S. mutual funds came in at $616 billion, down nearly 3% from the prior month. Of the total sponsored U.S. mutual funds, around 79% were from stock and blended assets while the remaining 21% came from bond and money market.

Total other investment portfolios were $407 billion, reflecting a decrease of about 1% from the previous month. Overall, stock and blended assets accounted for $310 billion or 76.2% of other investment portfolios while bond, money market and stable value came in at $97 billion or 23.8%.

T. Rowe Price recorded $240 billion in target date retirement portfolios, which was down 2.4% from $246 billion in the prior month.

Our Viewpoint

T. Rowe Price’s organic growth remains impressive as can be seen from a continuous rise in revenues. Also, its planned strategic initiatives, including investment in technology and advisory services, bode well for the long term.

Shares of T. Rowe Price have gained 64.52% in the past year, outperforming 25.2% rally of the industry it belongs to.

T. Rowe carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Investment Managers

Franklin Resources (BEN - Free Report) has announced preliminary AUM by its subsidiaries of $744.9 billion for February 2018. Results display 3.4% drop from $770.8 billion recorded as of Jan 31, 2018. Net market losses and outflows were primarily responsible for this decline.

Invesco Ltd. (IVZ - Free Report) reported preliminary month-end AUM of $945.4 billion for February 2018. The figure reflects decline of 2.8% from the prior month.

Legg Mason's (LM - Free Report) preliminary AUM of $766.7 billion for February 2018 increased 1.7% sequentially.

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