PR Newswire | Jan 13, 2021 08:31AM EST

December 2020

01/13 07:30 CST

T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For December 2020 BALTIMORE, Jan. 13, 2021

BALTIMORE, Jan. 13, 2021 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.47 trillion as of December 31, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.0 billion in December 2020, and $2.5 billion for the fourth quarter of 2020. This brings total client transfers for 2020 to $13.7 billion. These client transfers include $0.4 billion in December, $0.9 billion in the fourth quarter, and $8.6 billion in 2020, transferred to the target-date retirement trusts.

The firm's assets under management as of December 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) 12/31/2020 11/30/20209/30/202012/31/2019

U.S. mutual funds

Equity $ 498 $481 $ 442 $407

Fixed income, including 79 79 78 74 money market

Multi-asset^(b) 217 211 196 202

794 771 716 683

Subadvised and separate accounts and other investment products

Equity 397 380 344 292

Fixed income, including 89 88 83 74 money market

Multi-asset^(b) 190 181 167 158

676 649 594 524

Total assets under $ 1,470 $1,420 $ 1,310$1,207 management



Target date retirement $ 332 $320 $ 297 $292 products

(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) 12/31/2020 11/30/20209/30/202012/31/2019

U.S. mutual funds

Equity and blended assets$ 661 $640 $ 587 $553

Fixed income, including 133 131 129 130 money market

794 771 716 683

Subadvised and separate accounts and other investment products

Equity and blended assets546 523 473 412

Fixed income, including 130 126 121 112 money market

676 649 594 524

Total assets under $ 1,470 $1,420 $ 1,310$1,207 management

(a) Preliminary - subject to adjustment

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SOURCE T. Rowe Price Group, Inc.