TROW · 10-Q · 2026Q3 · Full report

Assets Under Management Growth

PRICE T ROWE GROUP INC · 2026-10-29 · Importance 31 · Surprise 24

Assets under management ended September 30, 2026 at $1,862.7 billion, down $30.7 billion from June 30, as $28.3 billion of net cash outflows and $2.4 billion of market depreciation, net of distributions not reinvested, more than offset other activity. For the nine months ended September 30, AUM increased $87.1 billion, as $135.6 billion of market appreciation exceeded $48.5 billion of net outflows. Third-quarter outflows included $25.6 billion from equity and $7.6 billion from multi-asset, partly offset by $3.4 billion of fixed-income inflows and $1.5 billion of alternatives inflows. Target date retirement product AUM was $613.9 billion at quarter-end, with $6.5 billion of third-quarter outflows; investors domiciled outside the U.S. accounted for 9.3% of firm AUM.

Key facts

• AUM was $1,862.7 billion at September 30, 2026, down $30.7 billion from June 30, 2026, due to $28.3 billion of net cash outflows and $2.4 billion of market depreciation, net of distributions not reinvested. source
• AUM increased $87.1 billion in the nine months ended September 30, 2026, driven by $135.6 billion of market appreciation, net of distributions not reinvested, offset by $48.5 billion of net cash outflows. source
• For the three months ended September 30, 2026, AUM net cash flows were equity $(25.6) billion, fixed income $3.4 billion, multi-asset $(7.6) billion, alternatives $1.5 billion, and total $(28.3) billion. source
• Target date retirement portfolios had net outflows of $6.5 billion and net inflows of $0.1 billion in the three- and nine-month periods ended September 30, 2026, respectively. source
• Unfunded capital commitments that did not earn fees were $19.0 billion at September 30, 2026, $21.0 billion at June 30, 2026, and $21.6 billion at December 31, 2025, and were not reflected in AUM. source
• Target date retirement product AUM was $613.9 billion at September 30, 2026, $622.0 billion at June 30, 2026, and $561.4 billion at December 31, 2025. source
• At September 30, 2026, AUM by asset class was $896.3 billion in equity, $221.8 billion in fixed income including money market, $680.6 billion in multi-asset, and $64.0 billion in alternatives, totaling $1,862.7 billion. source
• Multi-asset investment division portfolio assets, predominantly in the United States, were $31.4 billion at September 30, 2026, compared with $31.1 billion at June 30, 2026. source