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Classified in: Business
Subject: PDT

T. Rowe Price Receives Approval For Active Exchange-Traded Funds


BALTIMORE, July 6, 2020 /PRNewswire/ --

NEWS

QUOTES

Rob Sharps, Head of Investments, Group Chief Investment Officer
"By securing all of the necessary approvals for our active ETFs, we have reached a significant milestone that will enable us to bring T. Rowe Price's time-tested investment management capabilities to the ETF marketplace. When launched, these ETFs will be the only ones in the market informed by T. Rowe Price's strategic investing approach and supported by our global research platform of more than 600 investment professionals. We believe this makes them distinct."

Tim Coyne, Head of Exchange-Traded Funds
"Today, active ETFs from T. Rowe Price are a step closer to reality. As the ETF industry evolves to include active ETFs, T. Rowe Price is on the path to deliver flagship investment strategies in this new way. We believe that financial advisors and investors seeking the benefits of the ETF structure will find T. Rowe Price's active ETFs to be compelling as we work to deliver quality offerings that meet a range of needs."

George Riedel, Head of U.S. Intermediaries
"The pending launch of our active ETFs gives us a new way to meet investors' evolving needs while still tapping the investment expertise of a skilled and experienced portfolio management team, which across the firm has an average of 22 years of industry experience, including 17 years with T. Rowe Price. Through this new vehicle, RIAs, private banks, broker dealers, and individual investors alike will have access to the building blocks that will help them develop foundational investment portfolios."

Scott Livingston, Head of Global ETF Product
"We know that one size doesn't fit all for investors, so the new active ETFs will complement T. Rowe Price's current offerings and broaden the appeal of our investment capabilities. Whether seeking to fill portfolio gaps, reduce costs, or deliver a long-standing active investment approach, the new T. Rowe Price active ETFs will extend our capacity to meet client needs. We are grateful to the SEC and the NYSE for their roles in getting us to this point."

T. ROWE PRICE ETFS' PATH TO APPROVAL

ABOUT T. ROWE PRICE

Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), is a global investment management organization with $1.19 trillion in assets under management as of May 31, 2020. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The organization also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. For more information, visit troweprice.com, Twitter, YouTube, LinkedIn, Instagram, or Facebook.

T. Rowe Price Investment Services, Inc.

SOURCE T. Rowe Price Group, Inc.


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