T. Rowe Price reported May assets under management of $1.892 trillion, with $3.3 billion in net inflows led by defined contribution target date portfolios. Its 2026 midyear outlook warns that manufacturing rebound and Middle East energy supply shocks will drive structurally higher inflation and diversify stock leadership beyond mega-cap technology.
T. Rowe Price reported total assets under management of $1.892 trillion as of May 31, 2026, up from $1.825 trillion at the end of April. This marks a continuation of the firm’s growth trajectory entering the second quarter.
The firm recorded $3.3 billion in net inflows for May, driven primarily by a sizable defined contribution target date portfolio inflow. Equity and multi-asset categories led the gains amid sustained retirement investment demand.
In its midyear outlook, the firm cautions that a manufacturing recovery and Middle East energy security concerns will sustain structurally higher inflation. It also notes that AI investment is expanding beyond hyperscale tech to infrastructure and that market leadership is diversifying away from mega-cap platforms.
