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T. Rowe Price (TROW) Sees Sequential Rise in November AUM
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T. Rowe Price Group, Inc. (TROW - Free Report) announced preliminary AUM of $1.42 trillion for November 2020. The figure reflects a 9.2% rise from the $1.3 trillion recorded as of Oct 31, 2020. Following the release, shares of the company rallied 1.44%.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.4 billion this November.
Month-end total sponsored U.S. mutual funds came in at $771 billion, up 9.1% from October 2020. Of the total sponsored U.S. mutual funds, around 90% was from equity and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $649 billion, highlighting a 9.4% increase from the previous month. Overall, equity and blended assets accounted for $561 billion or 86% of other investment portfolios, while money-market and fixed income came in at $88 billion or 14%.
T. Rowe Price recorded $320 billion in target date-retirement portfolios, up 9.2% from the $293 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 22.6% in the past six months compared with 22.8% growth registered by the industry.
Franklin Resources (BEN - Free Report) registered preliminary AUM by its subsidiaries of $1.47 trillion for November. Results display a 5.8% increase from the $1.39 trillion recorded as of Oct 31, 2020, resulting in a 1.17% rally in its shares.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $76.7 billion as of Nov 30, 2020, up 7.7% from the prior-month level. Net inflows of $458 million and market appreciation of $5.2 billion were partly offset by distributions of $221 million.
Lazard Ltd. (LAZ - Free Report) recorded a 10.4% increase in preliminary AUM as of Nov 30, 2020, from the prior month. Total AUM came in at $247.6 billion, up from the October 2020 figure of $224.2 billion. The November AUM displays $21.6-billion market appreciation and a favorable foreign-exchange impact of $2.9 billion. These positives were partly offset by net outflows of $1 billion.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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T. Rowe Price (TROW) Sees Sequential Rise in November AUM
T. Rowe Price Group, Inc. (TROW - Free Report) announced preliminary AUM of $1.42 trillion for November 2020. The figure reflects a 9.2% rise from the $1.3 trillion recorded as of Oct 31, 2020. Following the release, shares of the company rallied 1.44%.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.4 billion this November.
Month-end total sponsored U.S. mutual funds came in at $771 billion, up 9.1% from October 2020. Of the total sponsored U.S. mutual funds, around 90% was from equity and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $649 billion, highlighting a 9.4% increase from the previous month. Overall, equity and blended assets accounted for $561 billion or 86% of other investment portfolios, while money-market and fixed income came in at $88 billion or 14%.
T. Rowe Price recorded $320 billion in target date-retirement portfolios, up 9.2% from the $293 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 22.6% in the past six months compared with 22.8% 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) registered preliminary AUM by its subsidiaries of $1.47 trillion for November. Results display a 5.8% increase from the $1.39 trillion recorded as of Oct 31, 2020, resulting in a 1.17% rally in its shares.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $76.7 billion as of Nov 30, 2020, up 7.7% from the prior-month level. Net inflows of $458 million and market appreciation of $5.2 billion were partly offset by distributions of $221 million.
Lazard Ltd. (LAZ - Free Report) recorded a 10.4% increase in preliminary AUM as of Nov 30, 2020, from the prior month. Total AUM came in at $247.6 billion, up from the October 2020 figure of $224.2 billion. The November AUM displays $21.6-billion market appreciation and a favorable foreign-exchange impact of $2.9 billion. These positives were partly offset by net outflows of $1 billion.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>