The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Will a $1.2T-AUM Giant Make an Alts Push? Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 27, 2019

Will a $1.2T-AUM Giant Make an Alts Push?

News summary by MFWire's editors

A giant, old school stockpicking mutual fund firm may make a push into alternatives.

William J. Stromberg
T. Rowe Price
President, CEO
Bill Stromberg, CEO of T. Rowe Price [profile], tells Bloomberg that the Baltimore-based asset manager might get into alts, though timing isn't clarified. ("At some point," the publication writes.)

"We're on our toes," Stromberg tells Bloomberg. "We're trying to keep abreast of the changes, and keep an open mind about how we innovate and evolve our business."

Another product development area for T. Rowe, the publication notes, is active ETFs, as the SEC has recently approved T. Rowe's application for semi-transparent ones (with quarterly holdings disclosures like traditional mutual funds, instead of daily disclosures like traditional ETFs). Yet Stromberg makes clear why T. Rowe hasn't gone passive.

"There wasn't much room for another player," Stromberg tells the publication.

The article portrays 82-year-old T. Rowe's success as counter to the broader woes facing many active managers and attributes part of that success to T. Rowe's strength with retirement plans. The T. Rowe team (of more than 7,000 people) had $1.181 trillion in AUM as of November 30 (nearly triple what T. Rowe started the decade with), including $282 billion in its target date products alone. As of the end of 2018, 52 percent of T. Rowe's AUM was in defined contribution retirement plans, a company spokesman confirms. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use