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

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Sep 13, 2022, 08:30 ET

BALTIMORE, Sept. 13, 2022 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.34 trillion as of August 31, 2022. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.5 billion in August 2022 and $3.0 billion for the quarter-to-date period ended August 31, 2022. This brings total client transfers for the year-to-date period ended August 31, 2022, to $10.0 billion. These client transfers include $1.2 billion, $2.0 billion, and $6.9 billion, respectively, transferred to the target date retirement trusts during the August, quarter-to-date, and year-to-date periods.

The following table shows the firm's assets under management as of August 31, 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.

	As of
	Preliminary^(a)
(in billions)	8/31/2022	7/31/2022	6/30/2022	12/31/2021
U.S. mutual funds
Equity	$ 404	$ 423	$ 391	$ 554
Fixed income, including money market	78	79	79	85
Multi-asset^(b)	189	197	187	232
	671	699	657	871
Subadvised and separate accounts and other investment products
Equity	314	329	309	439
Fixed income, including money market	93	94	92	90
Multi-asset^(b)	218	224	209	246
Alternatives	43	43	43	42
	668	690	653	817
Total assets under management	$ 1,339	$ 1,389	$ 1,310	$ 1,688

Target date retirement products	$ 337	$ 348	$ 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)	8/31/2022	7/31/2022	6/30/2022	12/31/2021
U.S. mutual funds
Equity and blended assets	$ 539	$ 565	$ 524	$ 724
Fixed income, including money market	132	134	133	147
	671	699	657	871
Subadvised and separate accounts and other investment products
Equity and blended assets	483	503	470	632
Fixed income, including money market	142	144	140	143
Alternatives	43	43	43	42
	668	690	653	817
Total assets under management	$ 1,339	$ 1,389	$ 1,310	$ 1,688