We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Virtus Investment's (VRTS) February AUM Rises 2.9% Sequentially
Read MoreHide Full Article
Virtus Investment Partners, Inc. (VRTS - Free Report) reported an improvement of 2.9% in its preliminary assets under management (AUM) balance for February 2024. The company reported a month-end AUM of $176.1 billion, implying an increase from the prior month’s level of $171.1 billion.
The company offered services to $2.6 billion of other fee-earning assets. This was excluded from the above-mentioned AUM balance.
In February, Virtus Investment’s open-end fund balance increased 2.5% to $57 billion from the previous month's level. Further, the retail separate account balance was up 5.2% to $45.3 billion. Institutional accounts balance increased 2% on a sequential basis to $63.9 billion.
Additionally, the closed-end fund balance improved slightly to $9.9 billion from January 2024.
Virtus Investment’s multi-boutique business model is expected to support its performance in the current rapidly developing economy. However, the elevated operating expenses pose near-term concerns for the company.
Over the past three months, shares of Virtus Investment have risen 9.6% compared with the industry’s 7.6% growth.
Franklin Resources, Inc. (BEN - Free Report) recently reported AUM of $1.62 trillion as of Feb 29, 2024, indicating an increase of 1.3% from the prior month’s level.
The improvement was driven by positive markets and long-term net inflows, including the previously disclosed $5.5 billion in the retirement channel. However, fixed-income institutional client redemption of $2 billion affected the AUM balance.
Victory Capital Holdings, Inc. (VCTR - Free Report) recently reported AUM of $164.9 billion for February 2024, implying growth of 2.9% from $160.2 billion reported in the prior month.
By asset class, VCTR’s U.S. Mid Cap Equity AUM was up 4.4% from the January level to $31.3 billion. The U.S. Small Cap Equity AUM of $15.7 billion increased 3%. The Global/Non-U.S. Equity AUM rose 3.4% to $17.1 billion. The U.S. Large Cap Equity AUM increased 5.5% to $13.5 billion.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Virtus Investment's (VRTS) February AUM Rises 2.9% Sequentially
Virtus Investment Partners, Inc. (VRTS - Free Report) reported an improvement of 2.9% in its preliminary assets under management (AUM) balance for February 2024. The company reported a month-end AUM of $176.1 billion, implying an increase from the prior month’s level of $171.1 billion.
The company offered services to $2.6 billion of other fee-earning assets. This was excluded from the above-mentioned AUM balance.
In February, Virtus Investment’s open-end fund balance increased 2.5% to $57 billion from the previous month's level. Further, the retail separate account balance was up 5.2% to $45.3 billion. Institutional accounts balance increased 2% on a sequential basis to $63.9 billion.
Additionally, the closed-end fund balance improved slightly to $9.9 billion from January 2024.
Virtus Investment’s multi-boutique business model is expected to support its performance in the current rapidly developing economy. However, the elevated operating expenses pose near-term concerns for the company.
Over the past three months, shares of Virtus Investment have risen 9.6% compared with the industry’s 7.6% growth.
Image Source: Zacks Investment Research
Currently, Virtus Investment carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Franklin Resources, Inc. (BEN - Free Report) recently reported AUM of $1.62 trillion as of Feb 29, 2024, indicating an increase of 1.3% from the prior month’s level.
The improvement was driven by positive markets and long-term net inflows, including the previously disclosed $5.5 billion in the retirement channel. However, fixed-income institutional client redemption of $2 billion affected the AUM balance.
Victory Capital Holdings, Inc. (VCTR - Free Report) recently reported AUM of $164.9 billion for February 2024, implying growth of 2.9% from $160.2 billion reported in the prior month.
By asset class, VCTR’s U.S. Mid Cap Equity AUM was up 4.4% from the January level to $31.3 billion. The U.S. Small Cap Equity AUM of $15.7 billion increased 3%. The Global/Non-U.S. Equity AUM rose 3.4% to $17.1 billion. The U.S. Large Cap Equity AUM increased 5.5% to $13.5 billion.