Asset management firm T Rowe Price Group saw a strong withdrawal in investor cash in the last quarter of 2016, with shares dropping 5.6% as a result. The group’s total assets under management stood at $810.8bn on 31 December, with its $5bn market gains being outweighed by the $2.9bn net client withdrawals. The withdrawal included $1.9bn taken from its target date retirement portfolios as investors showed greater interest in passive products.
Asset management firm T Rowe Price Group saw a strong withdrawal in investor cash in the last quarter of 2016, with shares dropping 5.6% as a result. The group’s total assets under management stood at $810.8bn on 31 December, with its $2.9bn market gains being outweighed by the $5bn net client withdrawals. The withdrawal included $1.9bn taken from its target date retirement portfolios as investors showed greater interest in passive products.