Latest news with #RobSharps
Yahoo
01-08-2025
- Business
- Yahoo
T. Rowe Price ETF Assets Hit $16.2B in Q2 on Strong Flows
T. Rowe Price Group, Inc. (TROW) reported $2.5 billion in net flows into its ETF products during the second quarter, bringing total ETF assets under management to $16.2 billion as of June 30, according to a transcript of the company's earnings call Friday. The Baltimore-based asset manager saw over $6 billion in inflows to its ETF products during the first half of 2025, CEO Rob Sharps said during the company's earnings call, according to the company-provided transcript. Eleven of the firm's ETFs now hold more than $500 million in assets under management. T. Rowe Price Growth Strategy The ETF growth comes as T. Rowe Price builds out its product lineup, with the company filing eight new strategies Friday morning, according to Sharps, who said the firm expects "momentum to continue to build as the ETF suite builds track record, scales and gets platform placement." The filings include four equity and four fixed-income products, said Eric Veiel, head of global investments and chief investment officer. The equity lineup includes zero-fee active core U.S. equity and international equity ETFs targeting lower price points where the firm previously lacked presence, while the fixed-income products round out the municipal suite and add a multi-sector income ETF. Invest in Gold Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation "Two of the equity strategies that we launched—at zero price active core US equity ETF and the zero price active core international equity ETF—specifically come in at lower price points, targeting a part of the market where we have not been active, which we think will be incremental new business for us," Veiel said during the earnings call. Distribution Expansion Chief Financial Officer Jen Dardis said the ETF growth represents a combination of existing clients switching from mutual funds and new investors entering through channels where traditional mutual funds faced distribution challenges. Industry data suggest approximately 25% of ETF flows come from clients moving over time and being recaptured in ETF format, she noted. The firm currently has 24 ETF offerings as of June 30, with many gaining platform placements where the company lacks mutual fund distribution agreements, said Sharps. "I also know that we have platform placements of many of our ETFs with strategies that aren't placed—where we don't have placement with the mutual funds," Sharps said. "So there are certain—whether it's broker dealers or platforms—where we're getting ETF placement, where historically, they've not distributed our funds." For the quarter ended June 30, T. Rowe Price reported total assets under management of $1.68 trillion, up from $1.63 trillion in the prior quarter, according to a statement. Net revenues reached $1.73 billion, compared to $1.76 billion in the second quarter of | © Copyright 2025 All rights reserved Sign in to access your portfolio
Yahoo
01-08-2025
- Business
- Yahoo
T. Rowe Price quarterly profit beats estimates on boost from market rally
(Reuters) -Asset manager T. Rowe Price beat second-quarter profit expectations on Friday as a rebound in equities boosted its assets under management and softened the hit from outflows. WHY IT'S IMPORTANT Stock markets bounced back sharply in the second half of the quarter after tariff-driven turmoil in April as progress on trade negotiations eased recession fears. Assets under management mainly depend on two factors - the performance of investments and money flowing in and out of the funds. KEY QUOTE "We have developed a broad and ongoing plan to reduce our expense growth over time while continuing to invest in capabilities and client reach. We believe that our plan will drive efficiency to fund investment in the future of the business," CEO Rob Sharps said in a statement. CONTEXT Active asset managers like T. Rowe usually buy and sell investments more frequently than passive fund managers. Such firms have ceded market share and grappled with consistent outflows in recent years due to the growing popularity of low-cost passive funds, which centers around investing in index-tracking funds. BY THE NUMBERS T. Rowe's assets under management jumped 6.9% to $1.68 trillion in the quarter despite net client outflows of $14.9 billion. Investment advisory fees, typically a percentage of the AUM, came in flat at $1.57 billion. On an adjusted basis, T. Rowe earned $2.24 per share in the quarter, beating Wall Street expectations of $2.13, according to estimates compiled by LSEG.
Reuters
01-08-2025
- Business
- Reuters
T. Rowe Price quarterly profit beats estimates on boost from market rally
Aug 1 (Reuters) - Asset manager T. Rowe Price (TROW.O), opens new tab beat second-quarter profit expectations on Friday as a rebound in equities boosted its assets under management and softened the hit from outflows. Stock markets bounced back sharply in the second half of the quarter after tariff-driven turmoil in April as progress on trade negotiations eased recession fears. Assets under management mainly depend on two factors - the performance of investments and money flowing in and out of the funds. "We have developed a broad and ongoing plan to reduce our expense growth over time while continuing to invest in capabilities and client reach. We believe that our plan will drive efficiency to fund investment in the future of the business," CEO Rob Sharps said in a statement. Active asset managers like T. Rowe usually buy and sell investments more frequently than passive fund managers. Such firms have ceded market share and grappled with consistent outflows in recent years due to the growing popularity of low-cost passive funds, which centers around investing in index-tracking funds. T. Rowe's assets under management jumped 6.9% to $1.68 trillion in the quarter despite net client outflows of $14.9 billion. Investment advisory fees, typically a percentage of the AUM, came in flat at $1.57 billion. On an adjusted basis, T. Rowe earned $2.24 per share in the quarter, beating Wall Street expectations of $2.13, according to estimates compiled by LSEG.
Yahoo
01-08-2025
- Business
- Yahoo
T. Rowe Price quarterly profit beats estimates on boost from market rally
(Reuters) -Asset manager T. Rowe Price beat second-quarter profit expectations on Friday as a rebound in equities boosted its assets under management and softened the hit from outflows. WHY IT'S IMPORTANT Stock markets bounced back sharply in the second half of the quarter after tariff-driven turmoil in April as progress on trade negotiations eased recession fears. Assets under management mainly depend on two factors - the performance of investments and money flowing in and out of the funds. KEY QUOTE "We have developed a broad and ongoing plan to reduce our expense growth over time while continuing to invest in capabilities and client reach. We believe that our plan will drive efficiency to fund investment in the future of the business," CEO Rob Sharps said in a statement. CONTEXT Active asset managers like T. Rowe usually buy and sell investments more frequently than passive fund managers. Such firms have ceded market share and grappled with consistent outflows in recent years due to the growing popularity of low-cost passive funds, which centers around investing in index-tracking funds. BY THE NUMBERS T. Rowe's assets under management jumped 6.9% to $1.68 trillion in the quarter despite net client outflows of $14.9 billion. Investment advisory fees, typically a percentage of the AUM, came in flat at $1.57 billion. On an adjusted basis, T. Rowe earned $2.24 per share in the quarter, beating Wall Street expectations of $2.13, according to estimates compiled by LSEG. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
01-08-2025
- Business
- Yahoo
T. ROWE PRICE GROUP REPORTS SECOND QUARTER 2025 RESULTS
BALTIMORE, Aug. 1, 2025 /PRNewswire/ -- T. Rowe Price, a global asset management firm and a leader in retirement, announced its financial results for the second quarter of 2025. The earnings release can be found on the firm's website at Chair, Chief Executive Officer, and President Rob Sharps and Chief Financial Officer Jen Dardis will provide an update on business performance, review financial results, and answer questions on a webcast today from 8:00 - 8:45 AM ET. To access the webcast or to obtain dial-in instructions to ask a question, please visit Supplemental materials will be available on the firm's investor relations website shortly before the start of the call. A replay of the webcast will be available on the firm's investor relations website shortly after the event. ABOUT T. ROWE PRICE T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.68 trillion in client assets as of June 30, 2025, about two-thirds of which are retirement-related. Renowned for over 85 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amidst evolving markets. Visit for news and public policy commentary. View original content to download multimedia: SOURCE T. Rowe Price Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
