T. Rowe Price (TROW) Records 1.1% Sequential Rise in July AUM

T Rowe Price Group Inc (TROW) Performance - TROW announced preliminary AUM of $1 59 trillion for July 2024 reflecting a sequential increase of 1 1% [1] - The company experienced net inflows of$ 2 billion in July 2024 [1] - Equity products aggregated $814 billion at the end of July showing a marginal increase from the previous month [2] - Fixed income (including money market) rose 1 1% to$ 182 billion [2] - Multi-asset products increased 2 3% to $541 billion [2] - Alternative products remained unchanged at$ 50 billion [2] - Target date retirement portfolios increased 2 4% to $464 billion [2] Business Model and Challenges - The company's diversified business model and efforts to broaden distribution reach to international markets and strategic acquisitions are expected to support top-line growth [3] - Overdependence on investment advisory fees is a concern [3] - Bottom-line growth continues to suffer from high costs [3] - Shares of T Rowe Price lost 1 6% over the past three months against the industry's 2% growth [3] Performance of Other Asset Managers - Franklin Resources Inc (BEN) reported preliminary AUM of$ 1 66 trillion as of Jul 31 2024 reflecting a 1% increase from the prior month [5] - The improvement in BEN's AUM balance was primarily due to positive markets partially offset by long-term net outflows [5] - Cohen & Steers Inc (CNS) reported preliminary AUM of $84 6 billion as of Jul 31 2024 reflecting a 4 8% rise from the prior month [5] - The increase in CNS' AUM balance was driven by market appreciation of$ 41 billion partially offset by net outflows of $45 million and distributions of$ 153 million [6]