T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR OCTOBER 2024

Rhea-AI Summary

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.

Positive

• Total AUM increased by $162 billion (11.2%) from December 2023 to October 2024
• Target date retirement portfolios grew by $66 billion (16.2%) since December 2023

Negative

• Net outflows of $2.0 billion in October 2024
• Month-over-month AUM decreased by $24 billion (-1.5%) from September 2024

Insights

Financial Analyst

The latest AUM report reveals concerning trends for T. Rowe Price. The $2.0 billion in net outflows during October continues a challenging pattern for the asset manager. While total AUM of $1.61 trillion represents an 11.2% increase from December 2023, the sequential decline from September's $1.63 trillion signals potential headwinds.

The equity segment saw the largest monthly decline, dropping $15 billion to $817 billion. This reflects both market volatility and ongoing competitive pressures in the active management space. Target date retirement portfolios, a important business segment, decreased by $8 billion to $474 billion, though still showing strong year-to-date growth of 16.2%.

BALTIMORE, Nov. 12, 2024 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.61 trillion as of October 31, 2024. Preliminary net outflows for October 2024 were $2.0 billion.

The below table shows the firm's assets under management as of October 31, 2024, and for the prior quarter-, and year-end by asset class and in the firm's target date retirement portfolios.

		As of
		Preliminary(a)
(in billions)		10/31/2024		9/30/2024		12/31/2023
Equity		$            817		$            832		$            744
Fixed income, including money market		186		186		170
Multi-asset		551		561		483
Alternatives		53		52		48
Total assets under management		$         1,607		$         1,631		$         1,445
Target date retirement portfolios		$            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 $1.61 trillion in assets under management as of October 31, 2024. About two-thirds of the assets under management are retirement-related. News and other updates can be found on Facebook, Instagram, LinkedIn, X, YouTube, and troweprice.com/newsroom.

 

View original content:https://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-october-2024-302302567.html

SOURCE T. Rowe Price Group

FAQ

What was T. Rowe Price's (TROW) total assets under management in October 2024?

T. Rowe Price reported preliminary assets under management of $1.61 trillion as of October 31, 2024.

How much were T. Rowe Price's (TROW) net outflows in October 2024?

T. Rowe Price experienced net outflows of $2.0 billion in October 2024.

What was T. Rowe Price's (TROW) equity assets under management in October 2024?

T. Rowe Price's equity assets under management were $817 billion as of October 31, 2024.

How much did T. Rowe Price's (TROW) AUM change from December 2023 to October 2024?

T. Rowe Price's AUM increased from $1.445 trillion in December 2023 to $1.607 trillion in October 2024, a growth of $162 billion.