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

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

Rating:T. Rowe's AUM Rises, Despite Mister Market  Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 25, 2019

T. Rowe's AUM Rises, Despite Mister Market

Reported by InvestmentWires Staff, 

Net inflows are driving up T. Rowe's AUM, despite the markets.

The T. Rowe Price team released their Q3 2019 earnings yesterday, revealing that the Baltimore-based fund firm managed $1.126 trillion in AUM at the end of Q3, an increase from $1.125 trillion in Q2 2019 and an increase from $1.084 trillion in Q3 2018. As of September 30, 2019, T. Rowe Price employed 7,262 associates.

The firm beat the GAAP earnings per share expectations by 23 cents but missed revenue expectations by $10 million.

T. Rowe's increase in AUM came primarily from net inflows which totaled $2.5 billion, despite net market depreciation of $1 billion. Meanwhile, clients moved $7.5 billion in net assets from T. Rowe's U.S. mutual funds to other investment products such as collective trusts.

Bill Stromberg, president and CEO of T. Rowe Price, states that "net flows were primarily driven by multi-asset and fixed income, while equities experienced modest outflow." He also highlighted the firm's build-out in the broker-dealer channel.

Q3 investment advisory revenues from its U.S. mutual funds reportedly increased 0.4 percent from Q3 2018 to $881 million, and average mutual fund AUM increased 1.4 percent to $650.5 billion.  

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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
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:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use