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Is T. Rowe Price the largest investment bank in the world?

Is T. Rowe Price the largest investment bank in the world?
Asked by
Lawrence McOchillo categorie-icon time-icon3 months ago
1 Answer Answer Question

Lillian McKenna
Answered time-icon3 months ago

T. Rowe Price Group Inc. (NASDAQ:TROW) today announced that its preliminary assets under management as of 30th June 2019 totalled $1.13tn having grown from $1.07tn from 31st May 2019, which secures its position among asset managers with trillion-dollar portfolios.

However, T. Rowe is far from claiming the top position among global asset managers given that this position is held by BlackRock Inc. (NYSE:BLK) with over $6.5tn in total assets under management as of April 2019.

The asset manager, which was formed in 1937, still has a long way to go given that it hasn’t yet made it to the top ten largest investment banks given that PIMCO, a fully-owned subsidiary of Allianz, holds the last position with over $1.6tn in assets under management.

Despite not being among the top ten asset management firms in the world, T. Rowe has distinguished itself over the years by being pioneers of growth investing strategies and focusing on strategic investing strategies to generate market-beating returns for its clients.

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