T. Rowe Price Group on Thursday reported $731.2 billion in assets under management as of Sept. 30, down 1% from three months earlier but up 13% from a year earlier.
Net inflows during the third quarter were $200 million, compared to net outflows of $200 million in the previous quarter. T. Rowe reported net inflows of $1.1 billion into the firm's mutual funds and net outflows of $900 million from its other investment portfolios.
Mutual fund assets were $466.4 billion as of Sept. 30, also down 1% from June 30 but up 15.5% from Sept. 30, 2013.
As of Sept. 30, $142.4 billion of AUM was in T. Rowe Price's target-date portfolios, of which $122.5 billion was in target-date funds and $19.9 billion was in target-date trusts. The total target-date AUM was up 1.3% from three months earlier and 30% higher than a year earlier.
Net income for the quarter came to $303.6 million, 1% lower than the previous quarter and 12% higher than the third quarter of 2013. Net revenue, meanwhile, totaled $1.02 billion, up 3.6% from June 30 and up 15% from Sept. 30, 2013.