T. Rowe Price Reports 5% Sequential Decline In February AUM
Zacks Investment Research | Mar 11, 2020 10:18PM ET
T. Rowe Price Group, Inc. (NASDAQ:TROW) has announced preliminary assets under management (AUM) of $1.15 trillion for February 2020. The figure reflects nearly 5% decline from the $1.21 trillion recorded on Jan 31, 2020.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.9 billion in February.
Month-end total sponsored U.S. mutual funds came in at $647 billion, down 5.3% from January 2020. Of the total sponsored U.S. mutual funds, around 79% was from stock and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $503 billion, highlighting a 4.9% decrease from the previous month. Overall, stock and blended assets accounted for $389 billion or 77% of other investment portfolios, while money-market and fixed income came in at $114 billion or 23%.
T. Rowe Price recorded $277 billion in target date-retirement portfolios, down 5.1% from the $292 billion 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 remains impressive, as indicated by continued growth in revenues.
The stock has lost around 14.4% in the past three months compared with the Zacks Investment Research
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