PR Newswire | Sep 11, 2020 08:31AM EDT

August 2020

09/11 07:30 CDT

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

BALTIMORE, Sept. 11, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.34 trillion as of August 31, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.3 billion in August 2020 and $1.9 billion for the quarter-to-date period ended August 31, 2020. This brings total client transfers for the year-to-date period ended August 31, 2020, to $10.7 billion. These client transfers include $1.0 billion, $1.5 billion and $7.6 billion, respectively, transferred to the target-date retirement trusts during the August, quarter-to-date, and year-to-date periods.

The firm's assets under management as of August 31, 2020, and for the prior month-, 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) 8/31/2020 7/31/2020 6/30/2020 12/31/2019

U.S. mutual funds

Equity $ 456 $ 432 $ 407 $ 407

Fixed income, including 77 77 76 74money market

Multi-asset^(b) 202 195 188 202

735 704 671 683

Subadvised and separateaccounts and otherinvestment products

Equity 353 331 312 292

Fixed income, including 83 81 77 74money market

Multi-asset^(b) 172 166 160 158

608 578 549 524

Total assets under $ 1,343 $ 1,282 $ 1,220 $ 1,207management

Target date retirement $ 305 $ 295 $ 284 $ 292products

(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 equityand 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) 8/31/2020 7/31/2020 6/30/2020 12/31/2019

U.S. mutual funds

Equity and blended assets $ 606 $ 575 $ 544 $ 553

Fixed income, including 129 129 127 130money market

735 704 671 683

Subadvised and separateaccounts and otherinvestment products

Equity and blended assets 487 460 435 412

Fixed income, including 121 118 114 112money market

608 578 549 524

Total assets under $ 1,343 $ 1,282 $ 1,220 $ 1,207management

(a) Preliminary - subject to adjustment

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SOURCE T. Rowe Price Group, Inc.