We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
T. Rowe Price (TROW) Sees Sequential Fall in October AUM
Read MoreHide Full Article
T. Rowe Price Group, Inc. (TROW - Free Report) has announced preliminary assets under management (AUM) of $1.3 trillion for October 2020. The figure reflects a marginal decline from the $1.31 trillion recorded as of Sep 30, 2020.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.1 billion this October.
Month-end total sponsored U.S. mutual funds came in at $707 billion, down 1.3% from September 2020. Of the total sponsored U.S. mutual funds, around 89% was from equity and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $593 billion, highlighting a slight decrease from the previous month. Overall, equity and blended assets accounted for $507 billion or 85% of other investment portfolios, while money-market and fixed income came in at $86 billion or 15%.
T. Rowe Price recorded $293 billion in target date-retirement portfolios, down 1.3% from the $297 billion witnessed in the prior month.
Our Viewpoint
Although regulatory restrictions and sluggish economic recovery might impair the company’s growth and escalate costs, T. Rowe Price’s diverse and efficient business model is anticipated to boost its AUM. Moreover, its organic growth is impressive, as displayed by the continued top-line growth.
Shares of the company have gained 30.1% in the past six months compared with 32.9% growth registered by the industry.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $1.39 trillion for October. Results displayed a 2.1% decrease from the $1.42 trillion recorded as of Sep 30, 2020.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $71.3 billion as of Oct 31, 2020, which inched up 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,206.5 billion for October represents a 1% decrease from the prior month.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
Image: Bigstock
T. Rowe Price (TROW) Sees Sequential Fall in October AUM
T. Rowe Price Group, Inc. (TROW - Free Report) has announced preliminary assets under management (AUM) of $1.3 trillion for October 2020. The figure reflects a marginal decline from the $1.31 trillion recorded as of Sep 30, 2020.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.1 billion this October.
Month-end total sponsored U.S. mutual funds came in at $707 billion, down 1.3% from September 2020. Of the total sponsored U.S. mutual funds, around 89% was from equity and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $593 billion, highlighting a slight decrease from the previous month. Overall, equity and blended assets accounted for $507 billion or 85% of other investment portfolios, while money-market and fixed income came in at $86 billion or 15%.
T. Rowe Price recorded $293 billion in target date-retirement portfolios, down 1.3% from the $297 billion witnessed in the prior month.
Our Viewpoint
Although regulatory restrictions and sluggish economic recovery might impair the company’s growth and escalate costs, T. Rowe Price’s diverse and efficient business model is anticipated to boost its AUM. Moreover, its organic growth is impressive, as displayed by the continued top-line growth.
Shares of the company have gained 30.1% in the past six months compared with 32.9% growth registered by the industry.
Currently, T. Rowe Price carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $1.39 trillion for October. Results displayed a 2.1% decrease from the $1.42 trillion recorded as of Sep 30, 2020.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $71.3 billion as of Oct 31, 2020, which inched up 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,206.5 billion for October represents a 1% decrease from the prior month.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>