The logo of T. Rowe Price Group is pictured at its office in Tokyo, Japan, January 13, 2017.
REUTERS/Toru Hanai/File Photo Acquire Licensing RightsOct 27 (Reuters) - T. Rowe Price Group (TROW.O) reported a better-than-expected quarterly profit on Friday, as concerns about the economy somewhat eased from last year, boosting assets under management at the firm.
"However, our flows remain pressured, with net outflows from equity outweighing the positive net flows to fixed income, multi-asset and alternatives in this quarter," CEO Rob Sharps said in a statement.
Total assets under management at the end of the quarter was $1.35 trillion, up 9.5% over the year earlier.
Investment advisory fees were up 1.5% at $1.46 billion in the quarter, T. Rowe said.
Persons:
Rowe Price, Toru Hanai, Rob Sharps, Rowe, Sri Hari, Shilpi Majumdar
Organizations:
REUTERS, Federal Reserve, Sri, Thomson
Locations:
Tokyo, Japan, Baltimore , Maryland, Bengaluru