T. Rowe Price reports record $1.9T AUM but posts $6.5B net outflows in Q2 2026

Filed July 31, 2026 · Period ending July 31, 2026 · ~1 min read

Key Changes

• high

  Net client outflows of $6.5B driven by $13.5B equity outflows, partially offset by $4.6B fixed income and $2.0B alternatives inflows; fundamental active equity strategies remain under pressure despite positive flows in May and June in ETF and SMA growth areas.

  Exhibit 99 view on EDGAR →
• high

  Investment advisory effective fee rate declined 1.5 basis points year-over-year to 38.1 bps, reflecting mix shift toward lower-fee products and asset classes despite market appreciation partially offsetting the decline.

  Exhibit 99 view on EDGAR →
• high

  Diluted EPS of $2.88 (up 28.6% year-over-year) and adjusted diluted EPS of $2.57 (up 14.7%); net revenues increased 10.7% to $1.9B driven by higher average AUM.

  Exhibit 99 view on EDGAR →