T. Rowe assets up 2% in quarter despite $5.1 billion in net outflows

Mutual fund assets reach $477.6 billion as of Dec. 31, up 2.4% from Sept. 30.
DEC 07, 2014
T. Rowe Price Group on Wednesday reported $746.8 billion in assets under management as of Dec. 31, up 2% from three months earlier and up 8% from a year earlier. Net outflows for the fourth quarter were $5.1 billion, compared with net inflows of $200 million in the previous quarter. T. Rowe reported net outflows of $1.3 billion from the firm's mutual funds for the quarter ended Dec. 31 and net outflows of $3.8 billion from its other investment portfolios. Mutual fund assets were $477.6 billion as of Dec. 31, up 2.4% from Sept. 30 and up 9.7% from Dec. 31, 2013. (More: Vanguard warns advisers on stock risk in client portfolios) As of Dec. 31, $148.5 billion of AUM was in T. Rowe Price's target-date portfolios, of which $126 billion was in target-date funds and $22.5 billion was in target-date trusts. The total target-date AUM was up 4.3% from three months earlier and up 22.5% from a year earlier. (More: T. Rowe's David: Opportunities in a rising rate environment) Net income for the quarter came to $315.9 million, 4% higher than the previous quarter and 10% higher than the fourth quarter of 2013. Net revenue, meanwhile, totaled $1 billion, the same as the third quarter but up 10% from the year-earlier quarter. James Comtois is a reporter at sister publication Pensions & Investments

Latest News

No succession plan? No worries. Just practice in place
No succession plan? No worries. Just practice in place

While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.

Research highlights growing need for personalized retirement solutions as investors age
Research highlights growing need for personalized retirement solutions as investors age

New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.

Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones
Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones

With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.

Insured Retirement Institute urges Labor Department to retain annuity safe harbor
Insured Retirement Institute urges Labor Department to retain annuity safe harbor

A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.

LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors
LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors

"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.