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T. Rowe Price continues to see investors pull billions of dollars from its funds in 3Q

October 28, 2022

T. Rowe Price Group Inc. continued to feel the impacts of a volatile market in the third quarter as investors pulled nearly $25 billion out of the firm’s funds. The Baltimore-based money manager reported on Thursday that it saw $24.6 billion in net client outflows during the quarter That number is greater than its outflows for the first two quarters of 2022 combined. Despite the outflows, T. Rowe Price’s revenue and profits beat Wall Street expectations, though both figures were down significantly compared to the year-ago period.

Article Source: Baltimore Business Journal

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