T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR MARCH 2024
- None.
- None.
The reported preliminary assets under management (AUM) by T. Rowe Price show a sequential increase from the previous month and year-end figures, indicating a potential resilience in their asset accumulation strategy despite net outflows. The growth in equity from $744 billion to $803 billion suggests a favorable market or effective asset allocation strategies that might have capitalized on equity market movements. The fixed income and alternatives categories show stability, which may imply a conservative approach or a strategic decision to maintain a diversified portfolio.
However, the preliminary net outflows of $1.2 billion in March and $8.0 billion for the quarter raise concerns about investor sentiment and potential challenges in retaining or attracting capital. It's important to monitor if these outflows are part of a broader industry trend or specific to the company's fund performance. The net outflows could pressure the company's revenue, as fees are typically based on AUM. Long-term, if the trend continues, it might affect the firm's market position and necessitate strategic adjustments.
Looking at the AUM distribution, the significant portion allocated to multi-asset and target date retirement products, which increased to $520 billion and $443 billion respectively, reflects a growing investor preference for diversified and lifecycle-based investment solutions. This trend aligns with the broader industry shift towards these types of products due to their perceived lower risk and ease of use for individual investors.
Furthermore, the stability in the alternatives category, despite overall net outflows, could indicate a sustained interest in non-traditional investment options, which often provide a hedge against market volatility. The allocation to alternatives should be watched as it may signal the company's capability to offer competitive products in this space, which can be a differentiator in attracting institutional investors.
The below table shows the firm's assets under management as of March 31, 2024, and for the prior month- and year-end by asset class and in the firm's target date retirement portfolios.
As of | ||||||
Preliminary(a) | ||||||
(in billions) | 3/31/2024 | 2/29/2024 | 12/31/2023 | |||
Equity | $ 803 | $ 785 | $ 744 | |||
Fixed income, including money market | 171 | 169 | 170 | |||
Multi-asset | 520 | 504 | 483 | |||
Alternatives | 48 | 48 | 48 | |||
Total assets under management | $ 1,542 | $ 1,506 | $ 1,445 | |||
Target date retirement products | $ 443 | $ 428 | $ 408 | |||
(a) Preliminary - subject to adjustment | ||||||
Q1 2024 Earnings Release and Earnings Call
T. Rowe Price will release Q1 2024 earnings on Friday, April 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
View original content:https://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-march-2024-302112702.html
SOURCE T. Rowe Price Group
FAQ
What were T. Rowe Price Group, Inc.'s assets under management as of March 31, 2024?
What were the net outflows for T. Rowe Price Group, Inc. in March 2024?
When will T. Rowe Price Group, Inc. release its Q1 2024 earnings?
Where can investors access the webcast and accompanying materials for T. Rowe Price Group, Inc.'s earnings call?
