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T. Rowe Price Navigates Market Shifts: Strong Markets Offset Equity Outflows, Strategic Pivot to Alternatives and ETFs Gains Traction

Despite robust global market returns in 2025, T. Rowe Price faced significant net outflows from its traditional equity and mutual fund businesses. However, strategic growth in fixed income, alternatives, and ETFs, alongside key partnerships and a focus on private markets, helped drive assets under management to a record $1.78 trillion. The firm signals a cautious 2026 outlook amid evolving investor preferences and fee pressures.