T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR NOVEMBER 2024
Rhea-AI Summary
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.
AI-generated analysis. Not financial advice.
Positive
- Total AUM increased 15.4% YoY from $1.45T to $1.67T
- Equity AUM grew 15.5% YoY from $744B to $859B
- Target date retirement portfolios increased 20.3% YoY from $408B to $491B
- Month-over-month AUM increased by $60B (3.7%)
Negative
- Net outflows of $6.4B in November 2024
- Significant subadvisory redemption impacting outflows
News Market Reaction – TROW
On the day this news was published, TROW declined 1.07%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The below table shows the firm's assets under management as of November 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) | 11/30/2024 | 10/31/2024 | 9/30/2024 | 12/31/2023 | ||||
Equity | $ 859 | $ 817 | $ 832 | $ 744 | ||||
Fixed income, including money market | 187 | 186 | 186 | 170 | ||||
Multi-asset | 568 | 551 | 561 | 483 | ||||
Alternatives | 53 | 53 | 52 | 48 | ||||
Total assets under management | $ 1,667 | $ 1,607 | $ 1,631 | $ 1,445 | ||||
Target date retirement portfolios | $ 491 | $ 474 | $ 482 | $ 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
View original content:https://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-november-2024-302328937.html
SOURCE T. Rowe Price Group