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T. Rowe Price October AUM Falls 1.6% Sequentially Amid Net Outflows
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Key Takeaways
TROW's AUM declined 1.6% sequentially to $1.83 trillion as net outflows reached $10.8 billion in October.
TROW's equity AUM fell 2.6% to $873 billion, while fixed-income assets rose nearly 1% to $223 billion.
TROW's target-date retirement AUM slipped to $609 billion in October, down nearly 1% sequentially.
T. Rowe Price Group, Inc. (TROW - Free Report) reported month-end assets under management (AUM) of $1.83 trillion as of Oct. 31, 2026, reflecting a 1.6% decline from $1.86 trillion at the end of September. The company experienced net outflows of $10.8 billion during October, weighing on its overall asset base.
By asset class, equity assets were the primary area of weakness, declining 2.6% sequentially to $873 billion. Multi-asset AUM decreased 1% to $674 billion, while alternative assets remained unchanged at $64 billion. In contrast, fixed-income assets, including money market products, increased nearly 1% to $223 billion.
Despite continued outflows, TROW's long-term investment performance remains a potential competitive advantage. For the five years ended Sept. 30, 2026, 69% of U.S. funds AUM outperformed their respective Morningstar medians over 10 years. Performance was particularly strong in fixed-income and multi-asset products, with 82% and 93% of respective AUM outperforming their Morningstar medians. This track record could support client retention and help attract assets, particularly in categories where investment performance has been strong.
The retirement business also provides a substantial foundation for TROW's AUM base. Its target-date retirement portfolios totaled $614 billion as of Sept. 30, 2026, accounting for nearly 33% of total AUM. However, these assets declined nearly 1% sequentially to $609 billion in October. Nevertheless, the scale of its retirement franchise provides an established platform for attracting long-term retirement savings and supporting future asset growth.
To further strengthen its investment platform and diversify its AUM base, TROW is expanding its product capabilities and strategic partnerships. Its planned acquisition of F/m Investments, along with its partnerships with Goldman Sachs and Aspida and OHA's expanding alternatives platform, could broaden its investment offerings and create additional opportunities for asset growth. However, continued equity outflows and weakness in target-date retirement assets remain near-term challenges. TROW's ability to improve net flows and capitalize on its expanding investment platform will be key to sustaining AUM growth.
Performance of Other Asset Managers in October
Franklin Templeton, Inc. (BEN - Free Report) reported preliminary assets under management of $1.81 trillion as of Oct. 31, 2026, up slightly from $1.80 trillion as of Sept. 30, 2026.
BEN's AUM balance reflected long-term net inflows of $3 billion and the positive impact of markets.
Invesco Ltd. (IVZ - Free Report) announced a preliminary AUM of $2.45 trillion as of Oct. 31, 2026, representing a 3.3% decrease from the previous month.
For October, IVZ reported net long-term outflows of $1 billion. Money market net outflows were $32.9 billion.
TROW’s Price Performance & Zacks Rank
Over the past six months, shares of T. Rowe Price have gained 7.5% compared with the industry’s rise of 4.1%.
View the Zacks #1 Rank List
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T. Rowe Price October AUM Falls 1.6% Sequentially Amid Net Outflows
Key Takeaways
T. Rowe Price Group, Inc. (TROW - Free Report) reported month-end assets under management (AUM) of $1.83 trillion as of Oct. 31, 2026, reflecting a 1.6% decline from $1.86 trillion at the end of September. The company experienced net outflows of $10.8 billion during October, weighing on its overall asset base.
By asset class, equity assets were the primary area of weakness, declining 2.6% sequentially to $873 billion. Multi-asset AUM decreased 1% to $674 billion, while alternative assets remained unchanged at $64 billion. In contrast, fixed-income assets, including money market products, increased nearly 1% to $223 billion.
Despite continued outflows, TROW's long-term investment performance remains a potential competitive advantage. For the five years ended Sept. 30, 2026, 69% of U.S. funds AUM outperformed their respective Morningstar medians over 10 years. Performance was particularly strong in fixed-income and multi-asset products, with 82% and 93% of respective AUM outperforming their Morningstar medians. This track record could support client retention and help attract assets, particularly in categories where investment performance has been strong.
The retirement business also provides a substantial foundation for TROW's AUM base. Its target-date retirement portfolios totaled $614 billion as of Sept. 30, 2026, accounting for nearly 33% of total AUM. However, these assets declined nearly 1% sequentially to $609 billion in October. Nevertheless, the scale of its retirement franchise provides an established platform for attracting long-term retirement savings and supporting future asset growth.
To further strengthen its investment platform and diversify its AUM base, TROW is expanding its product capabilities and strategic partnerships. Its planned acquisition of F/m Investments, along with its partnerships with Goldman Sachs and Aspida and OHA's expanding alternatives platform, could broaden its investment offerings and create additional opportunities for asset growth. However, continued equity outflows and weakness in target-date retirement assets remain near-term challenges. TROW's ability to improve net flows and capitalize on its expanding investment platform will be key to sustaining AUM growth.
Performance of Other Asset Managers in October
Franklin Templeton, Inc. (BEN - Free Report) reported preliminary assets under management of $1.81 trillion as of Oct. 31, 2026, up slightly from $1.80 trillion as of Sept. 30, 2026.
BEN's AUM balance reflected long-term net inflows of $3 billion and the positive impact of markets.
Invesco Ltd. (IVZ - Free Report) announced a preliminary AUM of $2.45 trillion as of Oct. 31, 2026, representing a 3.3% decrease from the previous month.
For October, IVZ reported net long-term outflows of $1 billion. Money market net outflows were $32.9 billion.
TROW’s Price Performance & Zacks Rank
Over the past six months, shares of T. Rowe Price have gained 7.5% compared with the industry’s rise of 4.1%.
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.