Assets under management as of January 2018
T. Rowe Price (TROW) had total AUM (assets under management) of $1.1 trillion as of January 31, 2018, compared with $991 billion in December 2017. Of the $1.1 trillion, the company’s sponsored US mutual funds contributed $637 billion, and other investment portfolios contributed $410 billion.
Of the sponsored mutual fund contribution, stock and blended assets constituted $509 billion, and bond and money market assets constituted $128 billion. Of the other investment contribution, stock and blended assets constituted $315 billion, while bond, money market, and stable value assets constituted $95 billion. The company’s clients transferred $3.7 billion to other portfolios from mutual funds in January 2018.
T. Rowe Price has a last-12-month free cash flow yield of 3.8%, whereas peers (XLF) BlackRock (BLK), Financial Engines (FNGN), and Franklin Resources (BEN) have yields of 2.6%, 2.1%, and 6.9%, respectively.
Changes in leadership
On February 14, 2018, T. Rowe Price announced that its current vice chairman, Edward C. Bernard, would be retiring on December 31, 2018. However, at the April 2018 annual stockholder meeting, Bernard will submit his candidature for the same position.
As of March 1, co-head of global equity Rob Sharps started heading investments. However, he will continue to work as the company’s chief investment officer. Eric Veiel, who is currently heading US equity, will now also be a co-head of global equity. Veiel will be working with Chris Alderson, who is presently heading international equity. Alderson is also a co-head of global equity.