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INVESTOR RELATIONS

T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR SEPTEMBER 2022

Oct 12, 2022 at 8:30 AM EDT

BALTIMORE, Oct. 12, 2022 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.23 trillion as of September 30, 2022. Preliminary net outflows for the third quarter of 2022 were $24.6 billion, bringing preliminary year-to-date net outflows to $44.6 billion.

The below table shows the firm's assets under management as of September 30, 2022, and for the prior month-, quarter-, and year-end by investment vehicle, by asset class, and in the firm's target date retirement portfolios. Investment vehicle assets under management also reflect client transfers from mutual funds to other portfolios, including trusts and separate accounts, of $0.3 billion in September 2022, and $3.3 billion for the quarter ended September 30, 2022. This brings total client transfers for the year-to-date period ended September 30, 2022, to $10.3 billion. These client transfers include $0.2 billion, $2.2 billion, and $7.1 billion, respectively, transferred to the target date retirement trusts during the September, third quarter, and year-to-date periods.

   

As of

   

Preliminary(a)

           

(in billions)

 

9/30/2022

 

8/31/2022

 

6/30/2022

 

12/31/2021

U.S. mutual funds

               

 Equity

 

$            365

 

$            404

 

$          391

 

$            554

 Fixed income, including money market

 

74

 

78

 

79

 

85

 Multi-asset(b)

 

175

 

189

 

187

 

232

   

614

 

671

 

657

 

871

Subadvised and separate accounts and other investment products

               

 Equity

 

283

 

314

 

309

 

439

 Fixed income, including money market

 

91

 

93

 

92

 

90

 Multi-asset(b)

 

199

 

218

 

209

 

246

 Alternatives

 

43

 

43

 

43

 

42

   

616

 

668

 

653

 

817

Total assets under management

 

$         1,230

 

$         1,339

 

$        1,310

 

$          1,688

     

Target date retirement products

 

$            311

 

$            337

 

$          327

 

$            391

   

(a)

Preliminary - subject to adjustment

(b)

The underlying assets under management of the multi-asset portfolios have been aggregated and presented as a separate line and not reported in the equity and fixed income lines.

Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization that provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The organization also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

Supplemental Information

The following table reflects the data with the underlying assets under management of the multi-asset portfolios included within the equity and fixed income lines.

   

As of

   

Preliminary(a)

           

(in billions)

 

9/30/2022

 

8/31/2022

 

6/30/2022

 

12/31/2021

U.S. mutual funds

               

 Equity and blended assets

 

$            488

 

$            539

 

$          524

 

$            724

 Fixed income, including money market

 

126

 

132

 

133

 

147

   

614

 

671

 

657

 

871

Subadvised and separate accounts and other investment products

               

 Equity and blended assets

 

436

 

483

 

470

 

632

 Fixed income, including money market

 

137

 

142

 

140

 

143

 Alternatives

 

43

 

43

 

43

 

42

   

616

 

668

 

653

 

817

Total assets under management

 

$          1,230

 

$          1,339

 

$        1,310

 

$          1,688

   

(a)

Preliminary - subject to adjustment

Cision View original content:https://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-september-2022-301647221.html

SOURCE T. Rowe Price Group, Inc.

Public Relations, Brian Lewbart, 410-345-2242, brian.lewbart@troweprice.com; Investor Relations, Linsley Carruth, 410-345-3717, linsley.carruth@troweprice.com