T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR SEPTEMBER 2024
Rhea-AI Summary
T. Rowe Price Group (NASDAQ-GS: TROW) reported preliminary month-end assets under management of $1.63 trillion as of September 30, 2024. The company experienced preliminary net outflows of $4.9 billion for September 2024 and $12.2 billion for the quarter-ended September 30, 2024. Quarterly net flows include $0.8 billion of Manager-driven distributions.
The firm's assets under management breakdown as of September 30, 2024:
- Equity: $832 billion
- Fixed income, including money market: $186 billion
- Multi-asset: $561 billion
- Alternatives: $52 billion
- Target date retirement portfolios: $482 billion
T. Rowe Price will release Q3 2024 earnings on November 1, 2024, at 7:00 AM ET, followed by an earnings call from 8:00 - 8:45 AM ET.
Positive
- Total assets under management increased to $1.63 trillion as of September 30, 2024, up from $1.57 trillion on June 30, 2024
- Equity assets under management grew to $832 billion from $810 billion in the previous quarter
- Target date retirement portfolios increased to $482 billion from $453 billion in the previous quarter
Negative
- Preliminary net outflows of $4.9 billion for September 2024
- Quarterly net outflows of $12.2 billion for the quarter-ended September 30, 2024
News Market Reaction – TROW
On the day this news was published, TROW gained 0.54%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The below table shows the firm's assets under management as of September 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) | 9/30/2024 | 8/31/2024 | 6/30/2024 | 12/31/2023 | ||||
Equity | $ 832 | $ 825 | $ 810 | $ 744 | ||||
Fixed income, including money market | 186 | 183 | 180 | 170 | ||||
Multi-asset | 561 | 553 | 529 | 483 | ||||
Alternatives | 52 | 51 | 50 | 48 | ||||
Total assets under management | $ 1,631 | $ 1,612 | $ 1,569 | $ 1,445 | ||||
Target date retirement portfolios | $ 482 | $ 474 | $ 453 | $ 408 | ||||
(a) Preliminary - subject to adjustment | ||||||||
Q3 2024 Earnings Release and Earnings Call
T. Rowe Price will release Q3 2024 earnings on Friday, November 1, 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 serves millions of clients globally and manages
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SOURCE T. Rowe Price Group