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James A.C. Kennedy From Precy Dumlao, Opalesque Asia:

Asset management firm T. Rowe Price Group, saw its assets rise $7.5bn as at end 2011 to reach $489.5bn from $482.0bn at the end of 2010, including $289.4bn in T. Rowe Price mutual funds distributed in the United States and $200.1bn in other managed investment portfolios.

Net cash inflows from investors of $14.1bn in 2011, including $8.0bn originating in the target-date retirement portfolios, were offset by $6.6 billion in market depreciation and income not reinvested. Year-end assets in the target-date retirement portfolios were $66.9 billion, including $62.9bn in the target-date retirement funds and $4.0bn in the target-date retirement trusts.

T. Rowe’s Chief Executive Officer and President James A.C. Kennedy commented in a statement, "With markets facing substantial headwinds, 2011 was an unusually volatile year that tested the patience of investors around the world. The eurozone’s sovereign debt problems, lack of political leadership in both Washington and Europe, and concerns about a global economic slowdown led to losses in most global equity markets. Despite the tumult, a fragile U.S. economic recovery continued to gain traction, bond investors came through in relatively good shape, and investors i......................

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