Assets under management (AUM) remain one of the most important growth drivers for T. Rowe Price Group TROW, as the company generates the bulk of its revenues from investment advisory fees tied to the AUM levels. As of March 31, 2026, 90.6% of its net revenues were generated from investment advisory fees.

In the first quarter of 2026, T. Rowe Price’s average AUM increased 9.1% year over year to $1.71 trillion, supporting a 5.3% rise in net revenues to $1.86 billion. This highlights how a larger asset base can directly benefit the company’s top line. The AUM balance witnessed a compound annual growth rate (CAGR) of 9.7% over 2011-2025.

AUM Growth Trend

Image Source: T. Rowe Price Group

A key…