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T. Rowe Price (TROW) May AUM Flat Sequentially at $1.59T

·3 min read

T. Rowe Price Group, Inc. TROW reported preliminary assets under management (AUM) of $1.59 trillion as of May 31, 2021, remaining flat with April’s reported number.

Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $0.5 billion in May 2021, bringing the balance to $12 billion for the year-to-date period.

Total sponsored U.S. mutual funds came in at $850 billion for May, flat with the reported in April 2021. Markedly, equity and blended assets accounted for around 90% of the balance, while the remaining came from the fixed-income and money markets.

Total other investment portfolios were worth $743 billion, remaining unchanged from the prior month. Overall, equity and blended assets accounted for $651 billion or 88% of total other investment portfolios, while money-market and fixed-income products constituted $92 billion or 12%.

T. Rowe Price registered $376 billion in target date-retirement portfolios, reflecting a 1% increase from $372 billion witnessed in the previous month.

Particularly, the company’s diverse business model is anticipated to stoke AUM growth, going forward. Also, T. Rowe Price’s robust balance sheet provides sufficient liquidity, thereby, enabling the company to launch funds. In fact, recently, it rolled out an active exchange-traded fund (ETFs) — U.S. Equity Research ETF — marking its fifth strategy in the active ETF vehicle. However, elevated costs and stringent regulatory pressure across the investment management industry might be headwinds for the long term.

Shares of the Zacks Rank #3 (Hold) company have gained 29.7% in the past six months, outperforming the 26.7% rally of the industry.

Zacks Investment Research
Zacks Investment Research

Image Source: Zacks Investment Research

Performance of Other Asset Management Firms

Invesco’s IVZ preliminary AUM of May 2021 was $1,505.1 billion, which represents an increase of 3.2% from the prior month. The rise was driven by solid inflows, favorable markets and foreign exchange.

Franklin Resources’s BEN preliminary AUM balance of $1,543.5 billion for May 2021 reflects nearly 1% growth from April. The improvement in AUM balance was largely driven by market appreciation and cash-management net inflows, partly offset by modest long-term net outflows.

AllianceBernstein Holding AB announced a preliminary AUM balance of $731 billion during May 2021. This reflected an increase of 1%, mainly driven by net inflows and market appreciation.

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