MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, October 26, 2005 A Strong Quarter for T. Rowe T. Rowe Price's third quarter net income grew 12 percent from the last quarter, to $116.3 million, or $0.85 per diluted share. Earnings were up 37 percent compared to the year-ago quarter. The results beat analysts expectations by three pennies. Assets under management totaled $257.6 billion at September 30, 2005, up 5 percent, or $12.8 billion from the second quarter. Mutual fund assets made up 64 percent of total assets under management, or $165.3 billion. Fund assets increased $10.8 billion from the second quarter, driven by $3.5 billion in net inflows and $7.3 billion in market appreciation and income. Inflows were also bolstered by the merger of TD Waterhouse Index Funds into the T. Rowe Price index funds, resulting in approximately $400 million in assets. T. Rowe Price also said its Retirement Funds were "responsible for a significant part of our asset growth." The target-date funds recorded net inflows of more than $800 million in the third quarter. Total assets in the Retirement Funds totaled $6.4 billion at the end of the third quarter. Printed from: MFWire.com/story.asp?s=10721 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |