UBS on U.S. Asset Managers: Flow Weaken as Markets Sell Off - T. Rowe Price (ROWE) Bucks Trend
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Price: $276.49 +0.18%
Rating Summary:
9 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
9 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade BLK Now!
UBS on U.S. Asset Managers: Flow Weaken as Markets Sell Off
Analyst, Alex Kramm, said, "Following a strong 1Q, flows in the first half of the 2Q have slowed for the asset management industry. Long-term mutual fund flows are growing at roughly 3% on an annualized basis, which compares to 4% in 1Q12. Fixed income and hybrid flows remain robust despite a slight slowdown, while net outflows in equity funds have accelerated. Equity markets have sold off considerably at the same time, which is driving the majority of our estimate reductions."
Kramm remains positive on Blackrock (NYSE: BLK)(Buy), Invesco (NYSE: IVZ)(Buy), and Franklin Resources (NYSE: BEN), despite slowing flows. Kramm labeled T. Rowe Price (Nasdaq: TROW) as the winner of the group, saying TROW bucked the trend, bringing 10% organic growth in April to its U.S. Mutual Funds.
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Analyst, Alex Kramm, said, "Following a strong 1Q, flows in the first half of the 2Q have slowed for the asset management industry. Long-term mutual fund flows are growing at roughly 3% on an annualized basis, which compares to 4% in 1Q12. Fixed income and hybrid flows remain robust despite a slight slowdown, while net outflows in equity funds have accelerated. Equity markets have sold off considerably at the same time, which is driving the majority of our estimate reductions."
Kramm remains positive on Blackrock (NYSE: BLK)(Buy), Invesco (NYSE: IVZ)(Buy), and Franklin Resources (NYSE: BEN), despite slowing flows. Kramm labeled T. Rowe Price (Nasdaq: TROW) as the winner of the group, saying TROW bucked the trend, bringing 10% organic growth in April to its U.S. Mutual Funds.
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