T. Rowe Price Group had record revenue in the first quarter of 2006, and there was a 24% increase in first quarter profit, as investors increased their investments in the firm's mutual funds, the company said in its release.

The firm's mutual funds saw an additional $9.6 billion invested into mutual funds for the quarter. In addition, market gains added $13.8 billion, growing assets under management to a record $292.9 billion.

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