T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR DECEMBER 2021

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Jan 12, 2022, 08:30 ET

BALTIMORE, Jan. 12, 2022 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.69 trillion as of December 31, 2021. The acquisition of Oak Hill Advisors, L.P. (OHA) completed on December 29, 2021, included $57 billion of capital under management^(a), of which $47 billion of fee-basis assets under management are included in these preliminary month-end assets under management.

Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.2 billion in December 2021, and $5.4 billion for the quarter-ended December 31, 2021. This brings total client transfers for 2021 to $23.8 billion. These client transfers include $0.6 billion, $3.5 billion and $16.2 billion, respectively, transferred to the target-date retirement trusts during the December, quarter-to-date, and year-to-date periods.

The following table shows the firm's assets under management as of December 31, 2021, and for the prior month-, quarter-, and year-end, by investment vehicle, asset class, and in the firm's target date retirement portfolios. The change in assets under management from November 2021 also reflects the redemption of about $2.5 billion of the firm's U.S. mutual fund investments to fund the cash portion of the OHA acquisition.

	As of
	Preliminary^(b)
(in billions)	12/31/2021		11/30/2021		9/30/2021		12/31/2020
U.S. mutual funds
Equity	$	554	$	554	$	546	$	498
Fixed income, including money market	85		88		88		79
Multi-asset^(c)	232		227		227		217
	871		869		861		794
Subadvised and separate accounts and other investment products
Equity	439		433		428		397
Fixed income, including money market	85		85		93		89
Multi-asset^(c)	246		241		230		190
	770		759		751		676
Acquired fee-basis assets under management	47		—		—		—
Total assets under management	$	1,688	$	1,628	$	1,612	$	1,470

Target date retirement products	$	391	$	384	$	378	$	332

^{(a) OHA's capital under management includes net assets value, portfolio value and unfunded capital.}^{(b) Preliminary - subject to adjustment}^{(c) 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)	12/31/2021		11/30/2021		9/30/2021		12/31/2020
U.S. mutual funds
Equity and blended assets	$	724	$	720	$	711	$	661
Fixed income, including money market	147		149		150		133
	871		869		861		794
Subadvised and separate accounts and other investment products
Equity and blended assets	632		621		608		546
Fixed income, including money market	138		138		143		130
	770		759		751		676
Acquired fee-basis assets under management	47		—		—		—
Total assets under management	$	1,688	$	1,628	$	1,612	$	1,470