T. Rowe Price Group IncNet outflows of $13.7 billion persist despite AUM growth, indicating continued pressure on U.S. equity products.

T. Rowe Price's average assets under management increased 9.1% year over year to $1.71 trillion in the first quarter of 2026, supporting a 5.3% rise in net revenues to $1.86 billion. The company recorded firmwide net outflows of $13.7 billion during the quarter, driven by continued pressure in U.S. equity products, though multi-asset, fixed income, and alternative strategies posted positive net flows. Investment advisory fees tied to AUM levels generated 90.6% of net revenues as of March 31, 2026. T. Rowe Price is expanding its alternative credit offerings through Oak Hill Advisors to reduce dependence on traditional equity strategies, while acknowledging that stress in private credit markets could dampen investor appetite and increase redemption risks.
T. Rowe Price Group IncNet outflows of $13.7 billion persist despite AUM growth, indicating continued pressure on U.S. equity products.
Apollo Global Management LLC Class A
Franklin Resources IncT. Rowe Price is expanding alternative credit offerings through Oak Hill Advisors, implying increased demand for its services.