PR Newswire | Nov 11, 2020 08:31AM EST

October 2020

11/11 07:30 CST

T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For October 2020 BALTIMORE, Nov. 11, 2020

BALTIMORE, Nov. 11, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.30 trillion as of October 31, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.1 billion in October 2020, and $12.3 billion for the year-to-date period ended October 31, 2020. These client transfers include $0.5 billion and $8.2 billion, respectively, transferred to the target-date retirement trusts during October and the year-to-date period.

The firm's assets under management as of October 31, 2020, and for the prior quarter- and year-end, by investment vehicle, asset class, and in the firm's target date retirement portfolios are as follows:

As of

Preliminary^(a)

(in billions) 10/31/2020 9/30/202012/31/2019

U.S. mutual funds

Equity $436 $442 $407

Fixed income, including money market 78 78 74

Multi-asset^(b) 193 196 202

707 716 683

Subadvised and separate accounts and other investment products

Equity 342 344 292

Fixed income, including money market 86 83 74

Multi-asset^(b) 165 167 158

593 594 524

Total assets under management $1,300 $1,310 $1,207

Target date retirement products $293 $297 $292

(a) Preliminary - subject to adjustment

(b) The underlying assets under management of the multi-asset portfolios havebeen aggregated and presented as a separate line and not reported in the equity and fixed income lines.

Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization that provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The organization also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

Supplemental Information

The following table reflects the data with the underlying assets under management of the multi-asset portfolios included within the equity and fixed income lines.

As of

Preliminary^(a)

(in billions) 10/31/2020 9/30/202012/31/2019

U.S. mutual funds

Equity and blended assets $577 $587 $553

Fixed income, including money market 130 129 130

707 716 683

Subadvised and separate accounts and other investment products

Equity and blended assets 469 473 412

Fixed income, including money market 124 121 112

593 594 524

Total assets under management $1,300 $1,310 $1,207

(a) Preliminary - subject to adjustment

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SOURCE T. Rowe Price Group, Inc.