PR Newswire | Apr 13, 2021 08:31AM EDT

March 2021

04/13 07:30 CDT

T. Rowe Price Group Reports Preliminary Month-End Assets Under Management For March 2021 BALTIMORE, April 13, 2021

BALTIMORE, April 13, 2021 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.52 trillion as of March 31, 2021. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.7 billion in March 2021 and $5.6 billion for the quarter-ended March 31, 2021. These client transfers include $1.3 billion and $4.9 billion, respectively, transferred to the target-date retirement trusts during March and the quarter-to-date period.

The firm's assets under management as of March 31, 2021, and for the prior month - 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) 3/31/2021 2/28/202112/31/2020

U.S. mutual funds

Equity $512 $ 508 $498

Fixed income, including money market82 82 79

Multi-asset^(b) 222 219 217

816 809 794

Subadvised and separate accounts and other investment products

Equity 406 402 397

Fixed income, including money market90 90 89

Multi-asset^(b) 206 200 190

702 692 676

Total assets under management $1,518 $ 1,501$1,470

Target date retirement products $352 $ 344 $332

(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) 3/31/2021 2/28/202112/31/2020

U.S. mutual funds

Equity and blended assets $677 $ 673 $661

Fixed income, including money market139 136 133

816 809 794

Subadvised and separate accounts and other investment products

Equity and blended assets 568 560 546

Fixed income, including money market134 132 130

702 692 676

Total assets under management $1,518 $ 1,501$1,470

(a) Preliminary - subject to adjustment

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SOURCE T. Rowe Price Group, Inc.