Company: TROW
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001113169-25-000007
Chunk: 96

Company: PRICE T ROWE GROUP INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 96
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 banks in Europe and the UK to reduce interest rates a few times. In Japan, longer-term interest rates rose as the Bank of Japan increased short-term rates in March, ending a multi-year period of negative interest rates. The Bank of Japan also unexpectedly raised rates at the end of July. In the emerging markets fixed income universe, dollar-denominated bonds produced gains in U.S. dollar terms, but local currency bonds produced negative returns, as most developing markets currencies declined versus the dollar. 

Returns of several major bond market indexes for 2024 are as follows:

Bloomberg Barclays U.S. Aggregate Bond Index1.3%J.P. Morgan Global High Yield Index9.0%Bloomberg Barclays Municipal Bond Index1.1%Bloomberg Barclays Global Aggregate Ex-U.S. Dollar Bond Index(4.2)%J.P. Morgan Emerging Markets Bond Index Plus7.7%Bank of America US High Yield Index8.2%Credit Suisse Leveraged Loan Index9.1%

ASSETS UNDER MANAGEMENT.

Assets under management ended 2024 at $1,606.6 billion, an increase of $162.1 billion from the end of 2023. This increase was driven by net market appreciation and income, net of distributions not reinvested, of $205.3 billion, offset by net cash outflows of $43.2 billion. 

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The following table details changes in our assets under management by asset class during the last three years:

(in billions)EquityFixed income, including money marketMulti-asset(1)Alternatives(2)TotalAssets under management at December 31, 2021$992.7 $175.7 $477.7 $41.7 $1,687.8 Net cash flows prior to manager-driven distributions(72.7)4.1 4.9 4.6 (59.1)Manager-driven distributions— — — (2.6)(2.6)Net cash flows(72.7)4.1 4.9 2.0 (61.7)Net market appreciation (depreciation) and income(3)(255.8)(12.8)(82.5)(0.3)(351.4)Change during the period(328.5)(8.7)(77.6)1.7 (413.1)Assets under management at December 31, 2022664.2 167.0