T. Rowe Price Group: $750 billion in Assets Under Management
T. Rowe Price Group: A Global Investment Manager (Part 1 of 16)
Global investment manager
Founded in 1937, T. Rowe Price Group (TROW) provides global investment management services to retail and institutional clients across the globe. T. Rowe Price Group offerings include sponsored mutual funds distributed in the United States. As well, the company offers investment portfolios such as sub-advised funds, separately managed accounts, target-date retirement trusts, collective investment trusts, a Luxembourg-based fund offered to investors outside the US, and portfolios offered through variable annuity life insurance plans in the US.
Offerings across asset classes
Aside from its group offerings, T. Rowe Price Group provides advisory services to its investors and third-party clients. Services include the management of stable-value contracts, financial advice, and fund investment advice. It provides these services through its subsidiaries, T. Rowe Price Associates and T. Rowe Price International.
The company manages $746.8 billion in assets across its offerings. It manages $477.6 billion in sponsored mutual funds and $269.2 billion in other investment portfolios.
The company has acquired interests in financial services as well as in other sectors such as e-commerce. For example, it has an interest in India-based mutual fund provider UTI Asset Management Company that it acquired in 2010 to increase its presence in emerging markets.
The company faces competition in the asset management space from BlackRock (BLK), Invesco (IVZ), Franklin Resources (BEN), Legg Mason (LM), and Affiliated Managers (AMG). Combined, these companies make up 2.77% of the Financial Select Sector SPDR Fund (XLF).
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