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Victory Capital (VCTR) October AUM Down on Market Depreciation

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Victory Capital Holdings (VCTR - Free Report) announced assets under management (AUM) by its subsidiaries of $131.1 billion for October 2020. The results reflect a 1.2% decline from $132.7 billion on Sep 30, 2020.

At the end of October, the company’s U.S. Mid Cap Equity AUM fell nearly 1% from September to $22.4 billion. U.S. Small Cap Equity of $15 billion increased 3.6%. Further, U.S. Large Cap Equity AUM and Global/Non-U.S. Equity AUM declined 3.8% and 2%, respectively, from the previous month to $12.7 billion and $11.6 billion.

Victory Capital recorded $29.9 billion in Solutions, down 2.7% from $30.8 billion reported in September. Other assets increased 1.9% to $211 million on a sequential basis. Also, Fixed Income assets were $35.6 billion, which declined marginally from the prior month.

Sound positioning of Victory Capital’s integrated multi-boutique business model in a rapidly evolving industry and effectiveness of the distribution platform might keep supporting its performance.

Shares of the company have gained 37.6% over the past six months, outperforming the industry’s 32.9% rally.

Currently, Victory Capital 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

Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,206.5 billion represents an 1% decrease from the prior month. This was largely due to unfavorable market returns, which lowered the company’s AUM by $10 billion. Further, Invesco witnessed total net outflows of $2.3 billion during the month.

Cohen & Steers (CNS - Free Report) reported preliminary AUM of $71.3 billion as of Oct 31, 2020, which increased 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.

AllianceBernstein’s (AB - Free Report) preliminary AUM of $622 billion for October 2020 decreased 1.4% from the prior month. Market depreciation and total firm-wide net outflows primarily led to the fall.

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