T. Rowe Price Group, Inc. TROW reported preliminary assets under management (AUM) of $1.39 trillion as of Jul 31, 2022. This reflects a 6.1% increase from the prior month’s $1.31 trillion.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.5 billion for July 2022 and $8.5 billion for the year-to-date period ended Jul 31, 2022.
T. Rowe Price’s total U.S. mutual fund balance was $699 billion, up 6.4% from June 2022 level. Of the total U.S. mutual funds balance, almost 80% comprised investments in equity and blended assets, while the remaining came from fixed income, including money markets portfolio.
T. Rowe Price’s total sub-advised and separate accounts and other investment products were worth $690 billion, marking 5.7% growth from the prior month. Of this, equity and blended assets, accounting for $503 billion, were up 7% sequentially. While fixed income products, including money-market, constituted $144 billion, alternatives products aggregated $43 billion of total other investment portfolios.
Additionally, TROW registered $348 billion in target date retirement portfolios, which is 6.4% up from the previous month.
TROW remains focused on its long-term strategies for delivering outstanding investment performance. The company also assumes that focusing on fundamentals will accelerate its effort to meet clients’ expectations. Given the upbeat market performance, the overall AUM balance for July improved from the prior month.
Over the past six months, shares of T. Rowe Price have declined 10% compared with the industry’s fall of 8.1%.
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The company currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers CNS reported a preliminary AUM of $94 billion as of Jul 31, 2022. This reflects an increase of 7% from the prior month’s level.
The increase in CNS' AUM balance was driven by market appreciation of $6 billion and net inflows of $327 million. These were partially offset by distributions of $183 million.
Victory Capital Holdings VCTR reported AUM of $164.2 billion for July 2022. The reflects 6% growth $154.95 billion reported as of Jun 30, 2022.
The growth in AUM balance was attributable to a rise in all asset classes of VCTR.
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T. Rowe Price Group, Inc. (TROW): Free Stock Analysis Report
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