Virtus Investment Partners, Inc. (VRTS - Free Report) recorded improvement in preliminary assets under management (AUM) balance for April 2021 on favorable markets. The total AUM of $176.2 billion reflects a 4.4% increase from $168.9 billion recorded on Mar 31, 2021.
Additionally, Virtus Investment provided services to $3.8 billion of other fee-earning assets. These are not included in above-mentioned AUM balance.
At April-end, Virtus Investment’s Open-End Funds balance grew 3.7% from March-end to $74.8 billion. Exchange Traded Funds and Retail Separate Accounts balances of $1.1 billion and $39.8 billion grew 11% and 6.7%, respectively, from the prior month.
Further, Institutional Accounts balance jumped 4.4% to $44.7 billion. Also, Closed-End Funds balance increased 3.1% sequentially to $12 billion.
However, Structured Products balance fell 3.5% to $3.8 billion at April-end.
Sound positioning of Virtus Investment’s integrated multi-boutique business model in a rapidly growing industry and effectiveness of the distribution platform might keep supporting its performance.
Shares of Virtus Investment have jumped 45% over the past six months, outperforming the industry’s rally of 34.4%.
Currently, Virtus Investment carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $92.8 billion as of Apr 30, 2021, which reflected an increase of 6.7% from the prior-month level. Net inflows of $821 million and market appreciation of $5.2 billion were partially offset by distributions of $200 million.
Franklin Resources (BEN - Free Report) reported preliminary AUM of $1529.3 billion for April 2021. This reflected 2% rise from the $1498.9 billion recorded as of Mar 31, 2021.
Invesco’s (IVZ - Free Report) AUM balance for April 2021 was $1,459 billion, which represented an increase of 3.9% from the prior month. The rise was largely driven by favorable market returns and total net inflows. Moreover, FX increased AUM by $3 billion.
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Virtus Investment Partners, Inc. (VRTS - Free Report) recorded improvement in preliminary assets under management (AUM) balance for April 2021 on favorable markets. The total AUM of $176.2 billion reflects a 4.4% increase from $168.9 billion recorded on Mar 31, 2021.
Additionally, Virtus Investment provided services to $3.8 billion of other fee-earning assets. These are not included in above-mentioned AUM balance.
At April-end, Virtus Investment’s Open-End Funds balance grew 3.7% from March-end to $74.8 billion. Exchange Traded Funds and Retail Separate Accounts balances of $1.1 billion and $39.8 billion grew 11% and 6.7%, respectively, from the prior month.
Further, Institutional Accounts balance jumped 4.4% to $44.7 billion. Also, Closed-End Funds balance increased 3.1% sequentially to $12 billion.
However, Structured Products balance fell 3.5% to $3.8 billion at April-end.
Sound positioning of Virtus Investment’s integrated multi-boutique business model in a rapidly growing industry and effectiveness of the distribution platform might keep supporting its performance.
Shares of Virtus Investment have jumped 45% over the past six months, outperforming the industry’s rally of 34.4%.
Currently, Virtus Investment carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $92.8 billion as of Apr 30, 2021, which reflected an increase of 6.7% from the prior-month level. Net inflows of $821 million and market appreciation of $5.2 billion were partially offset by distributions of $200 million.
Franklin Resources (BEN - Free Report) reported preliminary AUM of $1529.3 billion for April 2021. This reflected 2% rise from the $1498.9 billion recorded as of Mar 31, 2021.
Invesco’s (IVZ - Free Report) AUM balance for April 2021 was $1,459 billion, which represented an increase of 3.9% from the prior month. The rise was largely driven by favorable market returns and total net inflows. Moreover, FX increased AUM by $3 billion.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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