T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR APRIL 2022

BALTIMORE, May 11, 2022 /PRNewswire/ — T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.42 trillion as of April 30, 2022. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.7 billion in April 2022 and $5.8 billion for the year-to-date period ended April 30, 2022. These client transfers include $0.6 billion and $3.9 billion, respectively, transferred to the target date retirement trusts during April and the year-to-date period.

The following table shows the firm’s assets under management as of April 30, 2022, and for the prior quarter- and year-end by investment vehicle, by asset class, and in the firm’s target date retirement portfolios.

	As of
	Preliminary^(a)
(in billions)	4/30/2022	3/31/2022	12/31/2021
U.S. mutual funds
Equity	$ 435	$ 489	$ 554
Fixed income, including money market	81	84	85
Multi-asset^(b)	202	217	232
	718	790	871
Subadvised and separate accounts and other investment products
Equity	345	389	439
Fixed income, including money market	91	91	90
Multi-asset^(b)	224	240	246
Alternatives	42	42	42
	702	762	817
Total assets under management	$ 1,420	$ 1,552	$ 1,688
Target date retirement products	$ 351	$ 375	$ 391


^(a)	Preliminary – subject to adjustment
^(b)	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)	4/30/2022	3/31/2022	12/31/2021
U.S. mutual funds
Equity and blended assets	$ 579	$ 647	$ 724
Fixed income, including money market	139	143	147
	718	790	871
Subadvised and separate accounts and other investment products
Equity and blended assets	518	577	632
Fixed income, including money market	142	143	143
Alternatives	42	42	42
	702	762	817
Total assets under management	$ 1,420	$ 1,552	$ 1,688