T. Rowe Price Group reported record high assets under management of $206.8 billion as of June 30, up 28% from the same time the previous year and 2.9% higher than the end of the first quarter. According to its quarterly earnings report, the quarterly increase reflected mutual fund inflows of $1.9 billion and flows of $2.3 billion into "other managed portfolios," including separate accounts, as well as $1.6 billion attributed to net market appreciation.
The firm also reported $80.3 million in net income for the second quarter, up 49% from a year earlier period, and a 30% increase in net revenues to $309.7 million.
