T. Rowe Price CEO Sharps on Private Assets and AI Adoption

Watch on YouTube ↗  |  September 01, 2026 at 22:01  |  21:29  |  Bloomberg Markets
Speakers
Rob Sharps — Chair and CEO, T. Rowe Price Group, Inc.

Summary

T. Rowe Price CEO Rob Sharps explains how the firm is adapting to passive investing and active equity outflows by shifting toward ETFs, SMAs, fixed income, retirement and alternatives. He says private assets are slowly moving into defined contribution and target date plans, sees tax-loss harvesting as a growth area, and discusses the FM acquisition as a signal of fixed income ETF/SMA importance. He also addresses T. Rowe Price stock underperformance and fee pressure, and highlights AI adoption and an actively managed multi-token crypto ETP.

  • T. Rowe Price manages $1.9 trillion in AUM, with about two-thirds retirement-related.
  • Passive has about 64% market share in US equity funds, pressuring active equity fund flows.
  • The firm is leaning into ETFs, SMAs, fixed income, target date and alternatives.
  • Private assets are operationally ready for target date/DC inclusion but adoption is expected to be slow.
  • The FM acquisition signals a strategic push into fixed income ETFs and SMAs.
  • The CEO argues alternatives' richer fee mix can offset fee pressure and supports long-term growth.
  • T. Rowe Price launched an actively managed multi-token crypto ETP and is using AI to enhance research.
Ideas
Rob Sharps Chair and CEO, T. Rowe Price Group, Inc. 4:03
T. Rowe shift drives long-term growth.
T. Rowe Price is adapting to industry headwinds from active equity outflows and passive share gains by leaning into ETFs, SMAs, trusts, fixed income, retirement date funds and alternatives, including OHA, late-stage venture and the Goldman Sachs partnership. The CEO argues record gross inflows and record AUM plus these growth areas can eventually overcome mutual fund and active equity headwinds, and he pushes back on investor concerns about stock underperformance and fee pressure because alternatives have a richer fee mix, giving him confidence in long-term growth.
TROW HIGH
Rob Sharps Chair and CEO, T. Rowe Price Group, Inc. 7:12
Private assets entering 401(k)s slowly.
Private market assets are starting to move into defined contribution plans and target date funds. T. Rowe Price is operationally ready to include private assets along the glide path, and even a small allocation can add diversification and lift compound returns by 0.5% to 1%, though adoption will be a slow evolution led by an enthusiastic subsegment of the market.
Private Market Assets MED
Rob Sharps Chair and CEO, T. Rowe Price Group, Inc. 11:13
Fixed income ETFs/SMAs are strategic.
Fixed income is an area that has proven more resistant to passive, is diversifying relative to T. Rowe's equity-heavy financials, and ETF/SMA wrappers are the preferred way to access investment capability in the wealth channel. The FM acquisition is a small but important signal of the strategic importance of fixed income ETFs and SMAs to T. Rowe Price and adds liquidity/cash management capability.
Fixed income ETFs HIGH
Rob Sharps Chair and CEO, T. Rowe Price Group, Inc. 19:03
Multi-token crypto product unique.
T. Rowe Price launched an actively managed multi-token cryptocurrency exchange-traded product because clients want digital assets in their portfolios; the firm believes this product is unique in the industry and can be outstanding relative to what is available for clients seeking digital asset allocation.
BITO MED
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This Bloomberg Markets video, published September 01, 2026, features Rob Sharps discussing TROW, Private Market Assets, Fixed income ETFs, BITO. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Rob Sharps  · Tickers: TROW, Private Market Assets, Fixed income ETFs, BITO