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Stock Strategist Industry Reports

More Asset Managers Providing Monthly AUM Is a Good Thing

BlackRock and T. Rowe Price remain our top picks in the space.

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We’re pleased to see the number of U.S.-based asset managers we cover that provide preliminary monthly data on assets under management increase from five to seven. Since the start of the third quarter,  T. Rowe Price (TROW) and  Waddell & Reed Financial (WDR) have joined  Invesco (IVZ),  Franklin Resources (BEN),  Legg Mason (LM),  AllianceBernstein (AB), and  Cohen & Steers (CNS), with  Eaton Vance (EV) offering preliminary AUM data each calendar quarter.

How long this will last is anybody’s guess, but we believe that in both companies’ cases the decision to start releasing monthly figures was a reaction to market misperceptions about their AUM levels and flows, primarily related to the disruption caused by the Department of Labor’s fiduciary rule.

Greggory Warren does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.