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MONEY MANAGEMENT

T. Rowe Price’s assets flat in quarter; net outflows total $5 billion

T. Rowe Price Group reported $810.8 billion in assets under management as of Dec. 31, flat from three months earlier but up 6.3% from a year earlier, the company's earnings statement said Thursday.

The company reported net outflows of $5 billion for the fourth quarter, compared to net outflows of $200 million for the third quarter. Net inflows were $2.5 billion for the fourth quarter of 2015, according the firm's fourth-quarter 2015 earnings report.

T. Rowe reported net outflows of $3.8 billion from the firm's mutual funds for the quarter ended Dec. 31, driven by net outflows of $5.3 billion from the stock and blended asset funds. These were partially offset by net inflows of $1.1 billion into fixed-income funds, and net inflows of $400 million into money market funds.

For the other investment portfolios, net outflows during the fourth quarter were $1.2 billion, which includes outflows of $2.6 billion from stock and blended assets partially offset by inflows of $1.4 billion into fixed income, money market and stable value portfolios.

Net revenue for the fourth quarter totaled $1.09 billion, relatively flat from the previous quarter and a 3.7% rise from the year-earlier quarter. Net income, meanwhile, came to $379.8 million, up 15.9% from the previous quarter and up 25.3% from the fourth quarter of 2015.