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Victory Capital (VCTR) November AUM Down Sequentially to $160.5B
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Victory Capital Holdings (VCTR - Free Report) reported assets under management (AUM) by its subsidiaries of $160.5 billion for November 2021. The results reflect a 1.3% decline from the prior month.
At the end of November, Victory Capital's U.S. Mid Cap Equity AUM declined 2.8% from the October-end figure to $29.2 billion. In contrast, the U.S. Large Cap Equity AUM declined marginally sequentially to $15.5 billion. Moreover, the Global/Non-U.S. Equity AUM dipped 5% from the October-end level to $15.2 billion in November, whereas the U.S. Small Cap Equity AUM of $19.7 billion declined 4.8%.
Victory Capital recorded $41.3 billion in Solutions for November 2021, unchanged from October. Other assets increased 6.5% to $443 million on a sequential basis. Fixed Income AUM was $35.1 billion, down marginally from the prior-month level.
The sound positioning of Victory Capital's integrated multi-boutique business model in a rapidly-evolving industry and the effectiveness of the distribution platform will likely keep supporting its performance in the days to come.
Inorganic growth efforts also bode well. In November, the company agreed to acquire 100% of WestEnd Advisors, LLC. The deal, expected to close before the end of 2021, will likely be immediately accretive to earnings per share.Pro forma, adjusted net income accretion, with a tax benefit of 9%, is expected for 2022. The acquisition brings in a new dimension of growth and diversification for Victory Capital. Post completion, WestEnd will become Victory Capital's 12th investment franchise.
Invesco (IVZ - Free Report) announced a preliminary AUM for November 2021. IVZ's month-end AUM of $1,572.5 billion represented a decline of 1.3% from the previous month.
Invesco's AUM was negatively impacted by unfavorable market returns, which decreased it by $17 billion. Moreover, the decline in the total AUM balance was primarily due to money market net outflows of $7.5 billion. Because of foreign exchange rate movements, Invesco's AUM declined $4.6 billion.
AllianceBernstein Holding L.P.'s (AB - Free Report) AUM of $759 billion for November 2021 represented a decline of nearly 1% from $765 billion recorded at the end of the prior month. Market depreciation more than offset the total firm-wide net inflows, which led to the fall in AUM for AllianceBernstein.
Nevertheless, AllianceBernstein's global reach and solid asset balances are likely to boost top-line growth.
T. Rowe Price Group, Inc. (TROW - Free Report) reported a preliminary AUM of $1.63 trillion as of Nov 30, 2021. This reflects a 2.6% decrease from the prior month's $1.67 trillion. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $1.1 billion in November 2021 for TROW.
T. Rowe Price's total sponsored U.S. mutual funds balance was $869 billion, down 2.6% from November 2021.
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Victory Capital (VCTR) November AUM Down Sequentially to $160.5B
Victory Capital Holdings (VCTR - Free Report) reported assets under management (AUM) by its subsidiaries of $160.5 billion for November 2021. The results reflect a 1.3% decline from the prior month.
At the end of November, Victory Capital's U.S. Mid Cap Equity AUM declined 2.8% from the October-end figure to $29.2 billion. In contrast, the U.S. Large Cap Equity AUM declined marginally sequentially to $15.5 billion. Moreover, the Global/Non-U.S. Equity AUM dipped 5% from the October-end level to $15.2 billion in November, whereas the U.S. Small Cap Equity AUM of $19.7 billion declined 4.8%.
Victory Capital recorded $41.3 billion in Solutions for November 2021, unchanged from October. Other assets increased 6.5% to $443 million on a sequential basis. Fixed Income AUM was $35.1 billion, down marginally from the prior-month level.
The sound positioning of Victory Capital's integrated multi-boutique business model in a rapidly-evolving industry and the effectiveness of the distribution platform will likely keep supporting its performance in the days to come.
Inorganic growth efforts also bode well. In November, the company agreed to acquire 100% of WestEnd Advisors, LLC. The deal, expected to close before the end of 2021, will likely be immediately accretive to earnings per share.Pro forma, adjusted net income accretion, with a tax benefit of 9%, is expected for 2022. The acquisition brings in a new dimension of growth and diversification for Victory Capital. Post completion, WestEnd will become Victory Capital's 12th investment franchise.
Shares of this currently Zacks Rank #3 (Hold) company have gained 11.8% over the past six months against the industry's 5.6% decline. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Invesco (IVZ - Free Report) announced a preliminary AUM for November 2021. IVZ's month-end AUM of $1,572.5 billion represented a decline of 1.3% from the previous month.
Invesco's AUM was negatively impacted by unfavorable market returns, which decreased it by $17 billion. Moreover, the decline in the total AUM balance was primarily due to money market net outflows of $7.5 billion. Because of foreign exchange rate movements, Invesco's AUM declined $4.6 billion.
AllianceBernstein Holding L.P.'s (AB - Free Report) AUM of $759 billion for November 2021 represented a decline of nearly 1% from $765 billion recorded at the end of the prior month. Market depreciation more than offset the total firm-wide net inflows, which led to the fall in AUM for AllianceBernstein.
Nevertheless, AllianceBernstein's global reach and solid asset balances are likely to boost top-line growth.
T. Rowe Price Group, Inc. (TROW - Free Report) reported a preliminary AUM of $1.63 trillion as of Nov 30, 2021. This reflects a 2.6% decrease from the prior month's $1.67 trillion. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $1.1 billion in November 2021 for TROW.
T. Rowe Price's total sponsored U.S. mutual funds balance was $869 billion, down 2.6% from November 2021.