PR Newswire | Jul 13, 2020 08:31AM EDT

June 2020

07/13 07:30 CDT

T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For June 2020 BALTIMORE, July 13, 2020

BALTIMORE, July 13, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.22 trillion as of June 30, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.1 billion in June 2020, and $4.4 billion for the quarter-ended June 30, 2020. This brings total client transfers for the year-to-date period ended June 30, 2020, to $8.8 billion.

These client transfers include $1.0 billion, $1.7 billion, and $5.8 billion, respectively, transferred to the target-date retirement trusts during the June, quarter-to-date, and year-to-date periods.

In the assets under management presentation immediately below, the firm has separately broken out the assets under management for the firm's multi-asset portfolios, which will align to the disclosures included in the quarterly earnings release. All prior periods presented have been reclassified to conform to the new presentation. For reference, the table at the end of the release reflects the data with the underlying assets under management of the multi-asset portfolios included within the equity and fixed income lines.

The firm's assets under management as of June 30, 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) 6/30/2020 5/31/ 3/31/ 12/31/ 2020 2020 2019

U.S. mutual funds

Equity $ 407 $ 394 $ 328 $ 407

Fixed income, including money 76 74 73 74market

Multi-asset^(b) 188 185 161.2 202

671 653 562 683

Subadvised and separate accountsand otherinvestment products

Equity 312 303 241 292

Fixed income, including money 77 75 73.6 74market

Multi-asset^(b) 160 155 132 158

549 533 447 524

Total assets under management $ 1,220 $ 1,186 $ 1,009 $ 1,207

Target date retirement products $ 284 $ 277 $ 292 $ 292

(a) Preliminary - subject to adjustment(b) The underlying assets under management of the multi-asset portfolios have 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

As of

Preliminary^ (a)

(in billions) 6/30/2020 5/31/ 3/31/ 12/31/ 2020 2020 2019

U.S. mutual funds

Equity and blended assets $ 544 $ 529 $ 444 $ 552.5

Fixed income, including money 127 124 118 130.3market

671 653 562 683

Subadvised and separate accountsand otherinvestment products

Equity and blended assets 435 422 341 412

Fixed income, including money 114 111 106 112market

549 533 447 524

Total assets under management $ 1,220 $ 1,186 $ 1,009 $ 1,207

(a) Preliminary - subject to adjustment

View original content: http://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-june-2020-301092168.html

SOURCE T. Rowe Price Group, Inc.