T. Rowe Price Group reports developments tied to its global asset management business, including assets under management, client flows, earnings, dividends, stockholder meeting results, and capital return activity. Company updates also cover its investment platform across equity, fixed income, multi-asset, and alternative strategies, with recurring references to retirement-related assets and client solutions.
News about T. Rowe Price also includes product and platform changes such as fixed income vehicles, CLO activity, 529 education savings offerings, private credit initiatives associated with OHA, and investment commentary from the firm's research and portfolio teams.
T. Rowe Price has received multiple prestigious workplace awards in 2024, highlighting its commitment to fostering a positive and inclusive workplace culture. The firm earned recognition from Newsweek as one of the 'World's Most Trustworthy Companies' and 'America's Most Admired Workplaces 2025', along with accolades from Pensions & Investments and The Baltimore Sun.
The company's culture emphasizes respect, rigor, and generosity, with notable achievements including over 32,000 volunteer hours globally and 440 nonprofit board positions held by associates in 2023. More than 50% of associates participate in resource groups supporting diversity. The firm provides comprehensive career development through training, leadership programs, and mentorship initiatives.
FloWorks International, a specialty distributor of critical flow control products and portfolio company of Wynnchurch Capital, has completed a refinancing transaction. Oak Hill Advisors (OHA), the private markets platform of T. Rowe Price Group (NASDAQ:TROW), served as Administrative Agent and Lead Left Arranger for the private unitranche facility. The financing will be used to refinance FloWorks's existing debt and support future acquisitions. OHA is the largest holder across the new financing facility, citing their familiarity with the specialty distribution industry as a key factor in their investment decision.
T. Rowe Price Group (TROW) reported preliminary assets under management (AUM) of $1.67 trillion as of November 30, 2024. The firm experienced net outflows of $6.4 billion during November, which includes a portion of a previously disclosed subadvisory redemption. The AUM breakdown shows: $859 billion in Equity, $187 billion in Fixed income including money market, $568 billion in Multi-asset, and $53 billion in Alternatives. Target date retirement portfolios stood at $491 billion. Compared to December 2023, total AUM increased from $1.45 trillion, showing significant growth across all asset classes.
Oak Hill Advisors (OHA) has acted as Administrative Agent and Lead Left Arranger for a private unitranche facility supporting FloWorks, a portfolio company of Wynnchurch Capital. FloWorks, a leading specialty distributor of flow control products and technical solutions provider, will use the financing to refinance existing debt and fund future acquisitions. OHA, leveraging its industry knowledge through investments in similar companies, is the largest holder of the new facility. BMO Capital Markets participated as OHA's private credit joint venture partner.
T. Rowe Price has launched the fourth season of its 'CONFIDENT CONVERSATIONS® on Retirement' podcast. The new season begins with an episode celebrating 50 years of ERISA legislation and will feature monthly episodes covering topics such as long-term care, inflation management, social security benefits, and retirement planning strategies.
Hosted by Kim Zook, head of U.S. Intermediaries Retirement division, the series aims to provide investors with expert insights on retirement planning. The podcast builds on previous seasons that covered topics like racial retirement savings gap, LGBT+ investor strategies, and financial behavior psychology. A special edition episode reviewing highlights from past seasons is now available, hosted by Michael Davis, head of Global Retirement Strategy.
T. Rowe Price launched a new marketing campaign in San Francisco to promote its actively managed ETFs, coinciding with the IMPACT®2024 conference. The campaign creatively connects precision driving with active asset management, featuring performance vehicles branded with T. Rowe Price ETF designs around the conference venue.
Marketing elements include taxi top displays, airport signage, and branded hotel key cards at conference hotels. The initiative showcases T. Rowe Price's 17 active ETFs portfolio, comprising 11 equity and 6 fixed income ETFs, which were first introduced in 2020. These ETFs complement their mutual fund offerings, providing benefits like tax efficiency, intraday trading, and competitive expense ratios.
T. Rowe Price presented its 42nd annual global market outlook for 2025, featuring insights from key experts. The outlook suggests strong U.S. economic growth driven by non-residential investment, AI technologies, and green energy transition. Despite sticky inflation potentially limiting central bank rate cuts, the environment appears constructive for stock selection with strong consumer and business balance sheets. The firm expects broadening market returns and highlights opportunities in value stocks, emerging markets, and real asset equities. Key challenges include persistent inflation risks, energy prices, and consumer behavior post-election.
T. Rowe Price Group reported preliminary assets under management (AUM) of $1.61 trillion as of October 31, 2024. The firm experienced net outflows of $2.0 billion for October 2024. The AUM breakdown shows: $817 billion in Equity, $186 billion in Fixed income, $551 billion in Multi-asset, and $53 billion in Alternatives. Target date retirement portfolios stood at $474 billion. Compared to December 2023, total AUM increased from $1.445 trillion, though it decreased from September 2024's $1.631 trillion.
T. Rowe Price OHA Select Private Credit Fund (OCREDIT) announced Q3 2024 financial results and declared total distributions of $0.84 per share, including a $0.15 special quarterly distribution. The fund invested in 10 new portfolio companies, achieving net growth of $285.3 million. The portfolio spans 103 companies across 22 sectors with an 11.6% yield. Net investment income was $0.77 per share, with earnings per share at $0.69. The fund's NAV slightly decreased to $27.83 from $27.98. OCREDIT expanded its JPM Credit Facility to $665 million from $475 million and reduced costs on its BNP Credit Facility.
T. Rowe Price Group (NASDAQ-GS: TROW) has announced a quarterly dividend of $1.24 per share. The dividend will be paid on December 27, 2024, to stockholders of record as of the close of business on December 13, 2024. This announcement follows the Board of Directors' declaration of the quarterly dividend payment.