T. Rowe Price reported $257.6 billion in assets under management at the end of the third quarter, up 5.2% from the second quarter, according to the company's quarterly earnings release. It's an increase of 21.5% from 2004's third quarter. The company attributed the quarterly increase to net new flows and market appreciation, according to the release. The company reported overall net revenues of $388.7 million for the quarter, up 22.9% from a year ago, largely because of a spike in investment advisory revenues. The firm generated roughly $320 million in investment advisory fees during the quarter, up 26% from a year ago.