CORONACRUSH: T. Rowe Price Gets Hit with Outflows in Equities and Multi-Assets
Posted on 04/30/2020
T. Rowe Price Group, Inc. experienced client outflows of $6.0 billion for the first quarter of 2020. At March 31, 2020, the asset manager had US$ 1,008,800,000,000 in assets under management versus US$ 1,081,700,000,000 in March 31, 2019 and US$ 1,206,800,000,000 at December 31, 2019. A redemption in a risk-managed strategy from a large institutional client was the primary driver of the multi-asset outflows during the quarter. Multi-asset experience a net negative outflow of US$ 66.8 billion in the first quarter of 2020.
Investors domiciled outside the United States accounted for 7.4% of the firm’s assets under management at March 31, 2020 and 6.9% at December 31, 2019.