Company: TROW
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001113169-25-000007
Chunk: 1

Company: PRICE T ROWE GROUP INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 1
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 and discipline allows us to respond to these opportunities with several strategic, multi-year initiatives that are designed to strengthen our long-term competitive position and to:

•Sustain our leadership position in retirement.

•Access growth of the U.S. wealth management channel through improved vehicle capabilities, technology, specialist sales, and content. 

•Focus on further global growth in select high-opportunity countries where we have existing business by investing more in resources, products, and marketing.

•Broaden our reach in the private and alternatives market by leveraging our distribution channels and expanding our investment capabilities.

•Enhance our relationships with clients and renew our individual investor base by investing in our ability to provide exceptional service and unique offerings.

•Strengthen our distribution technology to enhance the digital client experience and client reporting. 

•Attract and retain top talent and enable effective hybrid collaboration.

•Nurture our brand globally and leverage it effectively across channels and geographies. 

•Deliver strong financial results and balance sheet strength for our stockholders over the long term.

Page 2

Table of Contents                

ASSETS UNDER MANAGEMENT (AUM).

Our consolidated net revenues and net income are derived largely from investment advisory services provided by our subsidiaries, primarily T. Rowe Price Associates (TRPA), T. Rowe Price Investment Management (TRPIM), Oak Hill Advisors (OHA), and T. Rowe Price International Ltd (TRPIL). Our revenues depend largely on the total value and composition of our assets under management. Accordingly, fluctuations in financial markets and in the composition of assets under management impact our revenues and results of operations. 

At December 31, 2024, we had $1,606.6 billion in assets under management, an increase of $162.1 billion from the end of 2023. This increase in assets under management was driven by market appreciation, net of distributions not reinvested, of $205.3 billion, offset by net cash outflows of $43.2 billion. 

In 2024, our target date retirement products experienced net cash inflows of $16.3 billion. The assets under management in our target date retirement products totaled $475.6 billion at December 31, 2024, or 29.6% of our managed assets at December 31, 2024, compared to 28.3% at the end of 2023.

The following charts show our AUM (in billions) by asset class, client type, geography, and account type as of December 31