T. Rowe Price (TROW - Get Report)  shares closed down slightly Monday as the financial services company is set to release its first quarter 2016 earnings Tuesday before the bell.

The Baltimore-based mutual fund company is looking to continue the gains it saw during its last quarter, where it reported earnings of $1.17 a share and revenues of $1.1 billion up 5%, beating estimates. However, net income reported at $303.2 billion was down 4% from the same quarter in the prior year amid higher expenses and global turmoil. 

Similar to other financial services companies, T. Rowe Price is concerned about its fiscal year 2016 results as it grapples with economic pressures in China, low commodities prices, the strong U.S. dollar, and the Federal Reserve's decision to raise interest rates twice instead of four times.

"We believe that global growth and financial market returns in 2016 will remain modest and that volatility will persist," president and CEO William Stromberg said in a statement.

The global investment management firm is expected to report an 9% decrease in profits, the average of estimates in a Bloomberg survey, with earnings of $1.03 a share. Sales may fall slightly to $1.01 billion.

But the company does expect "moderate growth" in the U.S. and Europe, he said.

Over the last several years, T. Rowe Price expanded its operations in Europe and now have offices in 16 countries.

"Early indicators suggest that our efforts to engage new investors around the world are gaining traction, and we are working diligently to build on that success," Stromberg said.

The company does see positive factors moving into 2016.

In its most recent quarter, investment advisory revenues were up by 4% from the same quarter last year to $668.2 million.

And with a market cap of $19 billion, the company holds assets under management of $763.1 billion and operates debt-free. 

"Although markets are a key driver of our short-term financial results and cause us to be ever mindful of our expenses, our financial strength - as evidenced by a strong cash position, no debt, and healthy operating cash flows - has allowed us to continue making strategic investments in people and key priorities," Stromberg said in a statement.

T. Rowe Price has invested in online technology companies like driving service Uber, room-sharing service Airbnb, and file sharing service Dropbox, but recently marked down its investments amid slowing economic factors. Other mutual fund companies have marked down their holding in these startup companies as well.

"Although early 2016 market returns have been challenging and headwinds remain, T. Rowe Price is well positioned to help our clients achieve their investment goals and deliver long-term value for our stockholders," Stromberg said in a statement.

The current stock price is $76.97, up more than 7% year-to-date.