PR Newswire | Jan 12, 2022 08:31AM EST

DECEMBER 2021

01/12 07:30 CST

T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR DECEMBER 2021 BALTIMORE, Jan. 12, 2022

BALTIMORE, Jan. 12, 2022 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.69 trillion as of December 31, 2021. The acquisition of Oak Hill Advisors, L.P. (OHA) completed on December 29, 2021, included $57 billion of capital under management(a), of which $47 billion of fee-basis assets under management are included in these preliminary month-end assets under management.

Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.2 billion in December 2021, and $5.4 billion for the quarter-ended December 31, 2021. This brings total client transfers for 2021 to $23.8 billion. These client transfers include $0.6 billion, $3.5 billion and $16.2 billion, respectively, transferred to the target-date retirement trusts during the December, quarter-to-date, and year-to-date periods.

The following table shows the firm's assets under management as of December 31, 2021, and for the prior month-, quarter-, and year-end, by investment vehicle, asset class, and in the firm's target date retirement portfolios. The change in assets under management from November 2021 also reflects the redemption of about $2.5 billion of the firm's U.S. mutual fund investments to fund the cash portion of the OHA acquisition.

As of

Preliminary^(b)

(in billions) 12/31/2021 11/30/ 9/30/ 12/31/ 2021 2021 2020

U.S. mutual funds

Equity $554 $554 $546 $498

Fixed income, including money 85 88 88 79 market

Multi-asset^(c) 232 227 227 217

871 869 861 794

Subadvised and separate accounts and other investment products

Equity 439 433 428 397

Fixed income, including money 85 85 93 89 market

Multi-asset^(c) 246 241 230 190

770 759 751 676

Acquired fee-basis assets under47 - - - management

Total assets under management $1,688 $1,628$1,612$1,470



Target date retirement products$391 $384 $378 $332

(a) OHA's capital under management includes net assets value, portfolio value and unfunded capital.(b) Preliminary - subject to adjustment(c) 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

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) 12/31/2021 11/30/ 9/30/ 12/31/ 2021 2021 2020

U.S. mutual funds

Equity and blended assets $724 $720 $711 $661

Fixed income, including money 147 149 150 133 market

871 869 861 794

Subadvised and separate accounts and other investment products

Equity and blended assets 632 621 608 546

Fixed income, including money 138 138 143 130 market

770 759 751 676

Acquired fee-basis assets under47 - - - management

Total assets under management $1,688 $1,628$1,612$1,470

(a) Preliminary - subject to adjustment

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SOURCE T. Rowe Price Group, Inc.