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T. Rowe Price's (TROW) April AUM Up 1% on Favorable Markets

T. Rowe Price Group, Inc. TROW announced its preliminary assets under management (AUM) for April 2023. The company’s month-end AUM of $1.35 billion represented a 1% increase from the previous month, impacted by favorable market returns.

TROW experienced net long-term outflows of $3.7 billion during the month.

At the end of the reported month, equity products, multi-asset products and alternative products aggregated $699 billion, $438 billion and $45 billion, up 1%, 1.4% and 2.3%, respectively, on a sequential basis. Fixed-income products including the money market constituted $171 billion, remaining flat sequentially.

Additionally, TROW registered $366 billion in target date retirement portfolios, which increased 1.4% from the previous month.

A diversified business model, focus on enhancing investment capabilities, broadening distribution reach and improving client partnerships are expected to aid TROW’s long-term growth. However, increased dependence on investment advisory fees is concerning, as market fluctuations and a sudden slowdown in overall business activities might hurt this revenue source. Additionally, rising expenses might hinder bottom-line growth.

Over the past three months, shares of T. Rowe Price have lost 12.6% compared with the industry’s decline of 15.2%.

Zacks Investment Research
Zacks Investment Research

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Zacks Rank

T. Rowe Price currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Competitive Landscape

Franklin Resources, Inc. BEN reported a preliminary AUM balance of $1,420.7 billion for April 2023. This reflected a marginal decline from $1,422.1 billion recorded as of Mar 31.

BEN’s cash management net outflows resulted in the downside offsetting positive impacts of market and the flat long-term net inflows. The long-term net inflows included a low-fee $3.2 billion equity mandate.

Invesco IVZ announced preliminary AUM for April 2023. The company’s month-end AUM of $1,484.3 billion represented a marginal increase from the previous month.

IVZ’s AUM was positively impacted by favorable market returns which increased it by $5 billion. Money market net inflows were $1.4 billion. Invesco experienced net long-term outflows of $2.2 billion and non-management fee-earning net outflows of $2.1 billion. Owing to foreign exchange rate movements, AUM decreased $0.4 billion.

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