PR Newswire | Aug 12, 2020 08:31AM EDT

July 2020

08/12 07:30 CDT

T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For July 2020 BALTIMORE, Aug. 12, 2020

BALTIMORE, Aug. 12, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.28 trillion as of July 31, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.6 billion in July 2020 and $9.4 billion for the year-to-date period ended July 31, 2020. These client transfers include $0.5 billion and $6.6 billion, respectively, transferred to the target-date retirement trusts during July and the year-to-date period.

The firm's assets under management as of July 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) 7/31/2020 6/30/2020 12/31/2019

U.S. mutual funds

Equity $ 432 $ 407 $ 407

Fixed income, including money market 77 76 74

Multi-asset^(b) 195 188 202

704 671 683

Subadvised and separate accounts andother investment products

Equity 331 312 292

Fixed income, including money market 81 77 74

Multi-asset^(b) 166 160 158

578 549 524

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

Target date retirement products $ 295 $ 284 $ 292



(a)Preliminary - subject to adjustment

The underlying assets under management of the multi-asset portfolios have(b)been 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) 7/31/2020 6/30/2020 12/31/2019

U.S. mutual funds

Equity and blended assets $ 575 $ 544 $ 553

Fixed income, including money market 129 127 130

704 671 683

Subadvised and separate accounts andother investment products

Equity and blended assets 460 435 412

Fixed income, including money market 118 114 112

578 549 524

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



(a)Preliminary - subject to adjustment

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SOURCE T. Rowe Price Group, Inc.