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T. Rowe Price (TROW) Records 5.7% Increase in January AUM


T. Rowe Price Group TROW announced preliminary assets under management (AUM) of $1.05 trillion for January 2018. Results reflect 5.7% rise from $991 billion as of Dec 31, 2017.

Client transfers from mutual funds to other portfolios of $3.7 billion were recorded in January 2018.

Month-end total sponsored U.S. mutual funds came in at $637 billion, up nearly 5% from the prior month. Of the total sponsored U.S. mutual funds, around 80% were from stock and blended assets while the remaining 20% came from bond and money market.

Total other investment portfolios were $410 billion, reflecting an increase of 6.5% from the previous month. Overall, stock and blended assets accounted for $315 billion or 76.8% of other investment portfolios while bond, money market and stable value came in at $95 billion or 23.2%.

T. Rowe Price recorded $244 billion in target date retirement portfolios, which was up 5.2% from $232 billion in the prior month.

Our Viewpoint

T. Rowe Price’s organic growth remains impressive as can be seen from a continuous rise in revenues. Also, its planned strategic initiatives, including investment in technology and advisory services, bode well for the long term.

Shares of T. Rowe Price have gained 25.2% in the past six months, outperforming 7.7% rally of the industry it belongs to.

T. Rowe carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Investment Managers

Franklin Resources BEN declared preliminary AUM of $770.8 billion by its subsidiaries for January 2018, reflecting an increase of 2.3% from the prior month.

Invesco Ltd. IVZ announced an increase in its preliminary month-end AUM for January 2018. The company’s AUM came in at $972.6 billion, a rise of 3.7% from $937.6 billion in the prior month.

Legg Mason's LM preliminary AUM of $779.6 billion for January 2018 increased 1.6% sequentially.

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