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What Investors Should Know about T. Rowe Price's 2Q17 Results

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Part 6
What Investors Should Know about T. Rowe Price's 2Q17 Results PART 6 OF 8

How T. Rowe’s Cash Flows Trended in 2Q17

Net cash flows

In 2Q17, T. Rowe Price Group (TROW) had net cash flows of -$5.7 billion in US-sponsored mutual funds after client transfers. However, net cash flows before these client transfers stood at $1.9 billion in 2Q17. During the same period, US-sponsored mutual funds witnessed an appreciation of $23.9 billion. Client transfers refer to transfers from US-sponsored mutual funds to other investment portfolios.

How T. Rowe’s Cash Flows Trended in 2Q17

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From January 2017 to June 2017, net cash flows in US-sponsored mutual funds stood at -$3.5 billion after client transfers. During the same period, net cash flows before client transfers stood at $4.4 billion. However, between January 2017 and June 2017, US-sponsored mutual funds stood at $55.8 billion.

Other investment portfolios

In 2Q17, net cash flows before adjusting for client transfers and after adjusting for client transfers stood at $1.8 billion and $9.4 billion, respectively, in other investment portfolios. During the same period, other investment portfolios appreciated by $14.4 billion.

From January 2017 to June 2017, net cash flows stood at $7.9 billion after adjusting for client transfers in other investment portfolios. During the same period, other investment portfolios witnessed an appreciation of $32.6 billion.

Return on total capital

T. Rowe Price Group’s (TROW) return on total capital stood at 24.4%.  Other asset managers (XLF) posted the following return on capital:

  • BlackRock (BLK): 9.4%
  • State Street (STT): 5.5%
  • Bank of New York Mellon (BK): 3.6%
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