Skip to main content
MENU
Subscribe
  • Sign Up Free
  • LOGIN
  • Subscribe
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Face to Face
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE 2.0
    • Special Reports
    • 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
    • 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
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2023 Defined Contribution East
    • 2023 ESG Investing
Breadcrumb
  1. Home
  2. MONEY MANAGEMENT
April 24, 2019 01:00 AM

T. Rowe Price AUM up 12.4% for quarter, 6.7% for year

Danielle Walker
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    Getty Images

    T. Rowe Price Group reported assets under management of $1.08 trillion as of March. 31, up 12.4% from three months earlier and up 6.7% from a year earlier, according to the firm's quarterly earnings release Wednesday.

    Net inflows for the first quarter were $5.4 billion, compared to net outflows of $8.4 billion in the fourth quarter. In the first quarter of 2018, the firm reported net inflows of $11.3 billion.

    By asset class, multiasset strategies experienced the highest net inflows of $3.2 billion during the first quarter, compared to net inflows of $300 million in the fourth quarter and net inflows of $6.4 billion in the prior-year quarter.

    Fixed-income strategies and money market funds, which are combined in the report, had $1.5 billion in net inflows in the first quarter vs. net outflows of $1.4 billion the previous quarter and $2.1 billion in net inflows during the three months ended March 31, 2018.

    Equity net inflows were $700 million in the first quarter, compared to net outflows of $7.3 billion in the fourth quarter and $2.8 billion in net inflows during the first quarter of last year.


    Compare fund flows and AUM of publicly traded money managers with P&I's Earnings Tracker

    By investment vehicle, T. Rowe Price U.S. mutual funds had net outflows of $1.5 billion, for which client transfers contributed $6.1 billion in outflows. Subadvised and separate accounts had net outflows of $100 million, which included $900 million in outflows from client transfers. Other investment products had $7 billion in net inflows.

    The firm's net revenue in the first quarter was $1.33 billion, up 1.7% from the previous quarter and flat from the year-earlier quarter. Net income in the first quarter was $512.6 million, up 45.7% from the fourth quarter and 13% higher than the from the first quarter of 2018.

    "The first quarter saw a strong recovery in the markets and investors partially returning from the sidelines after the volatility in December. Against this backdrop, we continued to deliver solid investment performance and financial results," said William J. Stromberg, the company's president and CEO, in a statement in the earnings release.

    "We were pleased to see redemption activity decrease relative to the fourth quarter of 2018, as market volatility subsided," Mr. Stromberg said. "Our net flows were diversified, as the firm recorded positive cash flows across all geographies and asset classes."

    Separately, the firm is in wait-and-see mode regarding its proposal to the SEC for semi-transparent, active exchange-traded funds, he said.

    "Early April saw important news for the industry with the Securities and Exchange Commission preliminarily approving the first semi-transparent exchange-traded fund, potentially giving investors access to active management in an ETF format," Mr. Stromberg said, adding that his firm remains "very engaged with the SEC" on its proposal.

    Related Articles
    Asset managers lag broad market in a rough October
    T. Rowe Price Retirement Plan Services appoints head of small-market segment
    T. Rowe Price sees AUM drop 11.2% for quarter, 2.9% for year
    T. Rowe Price record-keeping business taps new leader
    Federated Investors' AUM up 24% for year after Hermes acquisition
    AllianceBernstein's assets rise 7.4% for quarter, up slightly for year
    Invesco assets climb 7.5% in quarter, sees $3.5 billion in inflows
    KKR's assets up 2.5% for quarter, closes on $6.3 billion in new capital
    Recommended for You
    blackrock_symposium_1550-main_i.jpg
    BlackRock among top funds with exposure to Adani's dollar debt
    CPR Asset Management names head of research and strategy
    Sienna Investment Managers names head of ESG
    The Institutional Investor's Guide to ESG Investing
    Sponsored Content: The Institutional Investor's Guide to ESG Investing

    Reader Poll

    January 25, 2023
    SEE MORE POLLS >
    Sponsored
    White Papers
    Show Me the Income: Discovering plan sponsor and participant preferences for cr…
    The Future of Infrastructure: Building a Better Tomorrow
    Outlook 2023: Opportunity in a volatile world
    Research for Institutional Money Management
    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
    December 12, 2022 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 Content Solutions
    • 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
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Face to Face
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE 2.0
      • Special Reports
      • 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
      • 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
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2023 Defined Contribution East
      • 2023 ESG Investing