T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR JUNE 2024
Rhea-AI Summary
T. Rowe Price Group reported its preliminary month-end assets under management (AUM) for June 2024, totaling $1.57 trillion. This represents an increase from $1.542 trillion in May 2024 and $1.445 trillion in December 2023. Despite the overall increase in AUM, the firm experienced net outflows of $2.6 billion for June 2024 and $3.7 billion for the quarter ended June 2024, which includes $1.1 billion of Manager-driven distributions. Notably, equity AUM rose to $810 billion from $790 billion in May 2024. The company will release its Q2 2024 earnings on July 26, 2024, with an earnings call scheduled for the same day.
Positive
- Total assets under management increased to $1.57 trillion as of June 30, 2024, from $1.542 trillion in May 2024.
- Equity assets under management rose to $810 billion from $790 billion in May 2024.
- Target date retirement products AUM increased to $453 billion from $447 billion in May 2024.
Negative
- Preliminary net outflows were $2.6 billion for June 2024.
- Quarterly net outflows were $3.7 billion for the quarter ended June 2024, including $1.1 billion of Manager-driven distributions.
News Market Reaction – TROW
In the trading session that priced this news, TROW gained 0.94%, 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 June 30, 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) | 6/30/2024 | 5/31/2024 | 3/31/2024 | 12/31/2023 | ||||
Equity | $ 810 | $ 790 | $ 803 | $ 744 | ||||
Fixed income, including money market | 180 | 180 | 171 | 170 | ||||
Multi-asset | 529 | 524 | 520 | 483 | ||||
Alternatives | 50 | 48 | 48 | 48 | ||||
Total assets under management | $ 1,569 | $ 1,542 | $ 1,542 | $ 1,445 | ||||
Target date retirement products | $ 453 | $ 447 | $ 443 | $ 408 | ||||
(a) Preliminary - subject to adjustment |
Q2 2024 Earnings Release and Earnings Call
T. Rowe Price will release Q2 2024 earnings on Friday, July 26, 2024 at 7:00 AM ET. The company will host an earnings call from 8:00 – 8:45 AM ET that day. To access the webcast and accompanying materials, visit the company's investor relations website at: investors.troweprice.com
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 has
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SOURCE T. Rowe Price Associates, Inc.