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T. Rowe Price's (TROW) October AUM Up 3.7% on Upbeat Markets

·3-min read

T. Rowe Price Group, Inc. TROW reported preliminary assets under management (AUM) of $1.67 trillion as of Oct 31, 2021. This reflects a 3.7% increase from the prior month’s $1.61 trillion. This was mainly driven by solid market appreciation.

Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $3.1 billion in October 2021. These included $2.2 billion transferred to the target-date retirement trusts.

T. Rowe Price’s total sponsored U.S. mutual funds balance was $892 billion, up 3.6% from September 2021. Of the total U.S. mutual funds balance, almost 90.2% comprised investments in equity and blended assets while the remaining came in from the fixed income and money markets.

T. Rowe Price’s total other investment portfolios were worth $779 billion, marking a 3.7% rise from the prior month. Equity and blended assets accounted for $693 billion or 89% of total other investment portfolios while money-market and fixed income products constituted $86 billion or 11%.

Additionally, T. Rowe Price registered $393 billion in target date-retirement portfolios, up 4% from the $378 billion witnessed in the previous month.

T. Rowe Price remains focused on fortifying business through planned initiatives, which are largely tied to the launch of new investment strategies and vehicles, enhancing client engagement capabilities in each distribution channel, strengthening distribution channels, and improving the technology platform. These efforts along with a diverse business model are anticipated to stoke AUM growth.

Over the past year, shares of T. Rowe Price have jumped 54.9%, outperforming the industry’s growth of 36.1%.

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

Competitive Landscape

Invesco’s IVZ preliminary month-end AUM of $1,593.7 billion for October 2021 reflected a 4.3% rise from the prior month. The rise was mainly driven by net inflows of $18.8 billion.

Further, Invesco’s AUM balance was favorably impacted by market returns and foreign exchange rate movements.

AllianceBernstein Holding L.P. AB has announced AUM for October 2021. The company’s preliminary month-end AUM of $765 billion grew 3.1% from the prior month.

Market appreciation, along with total firm-wide net inflows, mainly drove the rise in AllianceBernstein’s AUM balance.

Franklin Resources, Inc. BEN reported preliminary AUM balance of $1,561.7 billion for October 2021. This indicates a 2.1% increase from $1,530.1 billion recorded as of Sep 30, 2021. The reported month’s AUM reflected changes in the reported asset class of certain products as part of the company’s integration efforts following acquisitions.

The rise in Franklin’s AUM balance was primarily driven by the positive impacts of markets, partly offset by modest long-term net outflows.

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T. Rowe Price Group, Inc. (TROW) : Free Stock Analysis Report

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AllianceBernstein Holding L.P. (AB) : Free Stock Analysis Report

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