T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR JULY 2024
Rhea-AI Summary
T. Rowe Price Group (NASDAQ-GS: TROW) reported preliminary assets under management (AUM) of $1.59 trillion as of July 31, 2024. The firm experienced net outflows of $2.0 billion for the month. Key highlights include:
- Equity AUM: $814 billion
- Fixed income (including money market): $182 billion
- Multi-asset: $541 billion
- Alternatives: $50 billion
- Target date retirement products: $464 billion
Compared to the previous quarter-end (June 30, 2024), total AUM increased from $1.569 trillion to $1.587 trillion. Year-over-year growth is evident, with AUM rising from $1.445 trillion at the end of 2023.
Positive
- Total assets under management increased to $1.587 trillion, up from $1.569 trillion in the previous quarter
- Year-over-year growth in AUM from $1.445 trillion at the end of 2023 to $1.587 trillion
- Equity AUM grew to $814 billion from $810 billion in the previous quarter
- Target date retirement products AUM increased to $464 billion from $453 billion in the previous quarter
Negative
- Preliminary net outflows of $2.0 billion for July 2024
News Market Reaction – TROW
In the trading session that priced this news, TROW declined 0.67%, reflecting a mild negative 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 July 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) | 7/31/2024 | 6/30/2024 | 12/31/2023 | |||
Equity | $ 814 | $ 810 | $ 744 | |||
Fixed income, including money market | 182 | 180 | 170 | |||
Multi-asset | 541 | 529 | 483 | |||
Alternatives | 50 | 50 | 48 | |||
Total assets under management | $ 1,587 | $ 1,569 | $ 1,445 | |||
Target date retirement products | $ 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 has
View original content:https://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-july-2024-302219855.html
SOURCE T. Rowe Price Group