T. Rowe Price had client assets of $391.3 billion as of Dec. 31, up 6.9% from the prior quarter and 42% greater than the year before, closing in on the record $400 billion the money manager reported at the end of 2007, according to the company’s latest earnings release.
The fourth-quarter gains reflected net client inflows of $7.3 billion and market-related gains of $17.8 billion.
Flows into the company’s mutual funds in the quarter came to $4 billion, of which 80% went to bond funds. Flows into separately managed accounts and other investment portfolios came to $3.3 billion.
For 2009, T. Rowe reported net inflows of $22.7 billion and market-related gains of $92.3 billion, following a painful 2008 where inflows of $17.1 billion were more than offset by market declines of $140.8 billion.
For the latest quarter, net income came to $152.5 million, up 15% from the prior quarter and up 528% from the year-earlier quarter.
Revenue came to $542.6 million, up 8.9% from the prior quarter and up 30% from the year before.
Separately, Franklin Resources reported assets under management of $553.5 billion as of Dec. 31, 6% higher than three months earlier and up 33% from a year earlier.
Net new flows in its fiscal first quarter, ended Dec. 31, totaled $14.3 billion compared with inflows of 12.2 billion in the previous quarter and net outflows of $18.2 billion in year-earlier quarter.
The company’s net income almost tripled to $355.6 million in the latest quarter from $120.9 million a year earlier, although it was below $367. 4 million in the quarter ended Sept. 30.
The company attributed the increase to improved market conditions and increased inflows.
Invesco reported client assets of $423.1 billion as of Dec. 31, up 1.5% from the prior quarter and 18.4% from the year before, according to its earnings report.
For the latest quarter, Invesco reported $2.6 billion in long-term net inflows and $10.2 billion in market-related gains, which together with $1.1 billion in foreign exchange-related gains more than offset $7.7 billion in money market outflows.
The fourth-quarter inflow matched the previous quarter. The year-earlier quarter saw net long-term outflows of $4.4 billion. Retail products saw the bulk of the latest inflows, with $2 billion, while institutional strategies pulled in $500 million and high-net-worth products garnered $100 million.
By asset class, fixed-income strategies attracted half of overall inflows, at $1.3 billion, followed by alternatives-related strategies with $1 billion and equities, with $600 million.
In a conference call on Invesco’s latest results, Martin L. Flanagan, Invesco’s president and CEO, said the planned acquisition of Morgan Stanley’s Van Kampen retail operation, announced late last year, is on track to be completed by mid-2010 and will have wide-ranging diversification benefits for Invesco, while boosting the company’s AUM to $542 billion once the deal closes.
Net income attributable to common shareholders came to $110.9 million for the latest quarter, up 5.4% from the prior quarter and up 248% from the year before.
Operating revenue came to $747.8 million, up 6.0% from the prior quarter and up 18% from the year before.
Janus Capital Group reported fourth-quarter assets under management of $159.7 billion, 5% higher than three months earlier and up 29% from the same quarter a year earlier.
Net flows were break-even in the fourth quarter, according to the company’s earnings release today, with rising market values accounting for most of the asset gain in the fourth quarter. In the third quarter, the company reported outflows $800 million and but market gains of $20 billion.