T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR AUGUST 2024
Rhea-AI Summary
T. Rowe Price Group (NASDAQ-GS: TROW) reported preliminary month-end assets under management (AUM) of $1.61 trillion as of August 31, 2024. The firm experienced net outflows of $5.3 billion for August 2024. Despite the outflows, total AUM increased from $1.59 trillion in July to $1.61 trillion in August.
The breakdown of AUM by asset class as of August 31, 2024, was:
- Equity: $825 billion
- Fixed income, including money market: $183 billion
- Multi-asset: $553 billion
- Alternatives: $51 billion
Target date retirement portfolios accounted for $474 billion of the total AUM. Compared to the end of 2023, T. Rowe Price's AUM has grown by approximately $167 billion, with increases across all asset classes.
Positive
- Total assets under management increased to $1.61 trillion, up from $1.59 trillion in July 2024
- AUM growth of approximately $167 billion since December 31, 2023
- Increases in AUM across all asset classes compared to year-end 2023
- Target date retirement portfolios grew to $474 billion, up from $408 billion at the end of 2023
Negative
- Net outflows of $5.3 billion for August 2024
News Market Reaction – TROW
In the trading session that priced this news, TROW gained 0.73%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The below table shows the firm's assets under management as of August 31, 2024, and for the prior month-, quarter-, and year-end by asset class and in the firm's target date retirement portfolios.
As of | ||||||||
Preliminary(a) | ||||||||
(in billions) | 8/31/2024 | 7/31/2024 | 6/30/2024 | 12/31/2023 | ||||
Equity | $ 825 | $ 814 | $ 810 | $ 744 | ||||
Fixed income, including money market | 183 | 182 | 180 | 170 | ||||
Multi-asset | 553 | 541 | 529 | 483 | ||||
Alternatives | 51 | 50 | 50 | 48 | ||||
Total assets under management | $ 1,612 | $ 1,587 | $ 1,569 | $ 1,445 | ||||
Target date retirement portfolios | $ 474 | $ 464 | $ 453 | $ 408 | ||||
(a) Preliminary - subject to adjustment | ||||||||
About T. Rowe Price
Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps individuals and institutions around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Clients rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price serves millions of clients globally and manages
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SOURCE T. Rowe Price Group