Skip to main content
MENU
Subscribe
  • Sign Up Free
  • LOGIN
  • Subscribe
  • Topics
    • Alternatives
    • Artificial Intelligence
    • Consultants
    • Defined Contribution
    • ESG
    • ETFs
    • Face to Face
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Regulation
    • SECURE 2.0
    • Special Reports
    • Washington
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Influential Women in Institutional Investing 2023
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • ESG Investing | Industry Brief
    • Innovation in ESG Investing
    • 2023 ESG Investing Conference
    • ESG Rated ETFs
    • Divestment Database
  • Defined Contribution
    • Latest DC News
    • The Plan Sponsor's Guide to Retirement Income
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • DC Plan Design: Improving Participant Outcomes
    • 2023 Defined Contribution East Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Research Center
    • The P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
  • Print
Breadcrumb
  1. Home
  2. MONEY MANAGEMENT
January 29, 2013 12:00 AM

T. Rowe Price sees assets inch up for quarter, jump for year

Rick Baert
  • Tweet
  • Share
  • Share
  • Email
  • More

    T. Rowe Price Group on Tuesday reported $576.8 billion in assets under management as of Dec. 31, up 0.4% from the previous quarter and 17.8% higher than the year-earlier quarter.

    Market appreciation and income totaled $6.6 billion in the fourth quarter, partially offsetting net outflows of $4.2 billion, the company said in an earnings statement.

    For 2012, net cash inflows were $17.2 billion, including $10.1 billion into the firm's target-date retirement portfolios. Market appreciation and income, net of distributions not reinvested, increased AUM by $70.1 billion from the end of 2011.

    Net cash inflows of $700 million into T. Rowe Price's bond funds and $300 million into its money market funds were more than offset by $1.4 billion in net cash outflows from its stock and blended asset funds.

    Mutual fund assets totaled $346.9 billion, an increase of 1.1% from Sept. 30, with $4.4 billion in market appreciation and income, and net cash outflows of $400 million. In the third quarter, mutual funds saw $16.7 billion in market gains and $4.5 billion in net inflows.

    As of Dec. 31, $88.9 billion was in T. Rowe Price's target-date retirement portfolios — $80.2 billion in target-date funds and $8.7 billion in target-date trusts.

    The firm's stock and bond portfolios had combined AUM of $164.2 billion, up 16.7% from the end of 2011, while fixed-income, money market and stable value funds had a total of $65.7 billion, up 10.6% from a year earlier.

    Net income for the quarter came to $232 million, a 6.1% decline from the previous quarter but 23.1% higher than the fourth quarter 2011.

    Revenue totaled $787.3 million, up 2.3% from three months earlier and up 17.2% from the previous year.

    William Katz, analyst at Citi Investment Research, said in a client note that T. Rowe Price's AUM and flows were disappointing. “To be fair, year-end tax selling likely contributed to seasonally weak fourth-quarter mutual fund flows,” Mr. Katz said, adding that the firm will benefit “should fixed income-to-equities rotation pick up, but underlying volume trends remain mixed nonetheless, we believe.”

    Related Articles
    T. Rowe Price retirement plan services chief to retire; new unit planned
    T. Rowe Price assets under management rise 6% for quarter
    Office Depot adds T. Rowe Price's target-date series as QDIA
    T. Rowe Price assets sprout 7% in quarter to record $617.4 billion
    Recommended for You
    Exchange_Traded_Funds_Tablet_i.jpg
    McKinsey predicts tougher times ahead for U.S. asset managers
    ONLINE_171019822_AR_0_AYAAWUKANJSG.jpg
    Wealth and pension funds prefer India over China, study shows
    Photo of Macquarie Asset Management's Vivek Bommi
    Macquarie selects first head of leveraged credit
    Open Window of Opportunity in Real Estate
    Sponsored Content: Open Window of Opportunity in Real Estate
    Sponsored
    White Papers
    A Guide to Home Equity Investments: The Untapped Real Estate Asset Class
    Modernize your K-12 retirement plan with vendor consolidation
    Q4 2023 Credit Outlook: Price Is What You Pay, Value Is What You Get
    There's More Than One Way to Be a Climate Investor
    Exploring the Commercial Application of Artificial Intelligence
    Private Credit Insights: Every Problem Is an Opportunity in Disguise
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    October 23, 2023 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Custom Content
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Artificial Intelligence
      • Consultants
      • Defined Contribution
      • ESG
      • ETFs
      • Face to Face
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Regulation
      • SECURE 2.0
      • Special Reports
      • Washington
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Influential Women in Institutional Investing 2023
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • ESG Investing | Industry Brief
      • Innovation in ESG Investing
      • 2023 ESG Investing Conference
      • ESG Rated ETFs
      • Divestment Database
    • Defined Contribution
      • Latest DC News
      • The Plan Sponsor's Guide to Retirement Income
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • DC Plan Design: Improving Participant Outcomes
      • 2023 Defined Contribution East Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Research Center
      • The P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
    • Print