T. Rowe Price Group reported its fourth quarter 2011 results, including net revenues of $671.6 million, net income of $188.4 million, and diluted earnings per common share of $.73. In the fourth quarter of 2010, net revenues were $647.5 million, net income was $191.6 million, and diluted earnings per common share was $.72.
Investment advisory revenues for the fourth quarter of 2011 increased $10.0 million to $570.5 million from the comparable 2010 period, as average assets under management were up 5%. Assets under management at Dec. 31, 2011 totaled $489.5 billion, an increase of $36 billion from $453.5 billion at Sept. 30. The increase in assets under management in the fourth quarter of 2011 is attributable to net cash inflows of $1.1 billion, and market appreciation and income of $34.9 billion.