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.