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Virtus Investment's (VRTS) February AUM Down 2.8% Sequentially
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Virtus Investment Partners, Inc. (VRTS - Free Report) recorded a sequential decrease in its preliminary assets under management (“AUM”) balance for February 2022 due to unfavorable market returns. The total AUM of $183.7 billion reflects a 2.8% fall from $188.9 billion recorded on Jan 31, 2022.
Excluded in the above-mentioned AUM balance is $3.5 billion of other fee-earning assets to which Virtus Investment has provided services.
At February end, Virtus Investment’s Open-End Funds balance fell 3.1% from January end to $73.1 billion. Exchange Traded Funds and Retail Separate Accounts balances of $1.4 billion and $40.8 billion each decreased 2% from their respective prior-month figures.
Further, Institutional Accounts balance decreased 3.8% to $53 billion from January end. Also, sequentially, Closed-End Funds balance dipped marginally to $11.7 billion. Nonetheless, Structured Products balance increased marginally to $3.6 billion at February end.
Virtus Investment’s high operating expenses and unsustainable capital deployment activities are concerning. Further, the Russia-Ukraine conflict has led to negative sentiments in the market, resulting in volatility and unfavorable returns. However, its integrated multi-boutique business model, in a rapidly growing industry, might support its performance.
Virtus Investment stock's decline of 17.9% has underperformed the industry’s fall of 15.2% over the past year.
Franklin Resources, Inc. (BEN - Free Report) announced its preliminary AUM for February 2022. BEN's month-end AUM of $1,486.9 billion represented a 2.3% decline from the previous month.
Franklin's AUM was affected by the negative impacts of the markets and long-term net outflows.
Invesco (IVZ - Free Report) announced preliminary AUM for February 2022. The company’s month-end AUM of $1,531.4 billion represented a 1.3% fall from the prior month-end.
Invesco recorded net long-term inflows of $3.4 billion and money market net inflows of $3.6 billion. Further, foreign exchange rate movements increased the AUM balance by $1.5 billion. For the month, the company’s AUM was negatively impacted by unfavorable market returns, which decreased it by $28 billion.
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Virtus Investment's (VRTS) February AUM Down 2.8% Sequentially
Virtus Investment Partners, Inc. (VRTS - Free Report) recorded a sequential decrease in its preliminary assets under management (“AUM”) balance for February 2022 due to unfavorable market returns. The total AUM of $183.7 billion reflects a 2.8% fall from $188.9 billion recorded on Jan 31, 2022.
Excluded in the above-mentioned AUM balance is $3.5 billion of other fee-earning assets to which Virtus Investment has provided services.
At February end, Virtus Investment’s Open-End Funds balance fell 3.1% from January end to $73.1 billion. Exchange Traded Funds and Retail Separate Accounts balances of $1.4 billion and $40.8 billion each decreased 2% from their respective prior-month figures.
Further, Institutional Accounts balance decreased 3.8% to $53 billion from January end. Also, sequentially, Closed-End Funds balance dipped marginally to $11.7 billion. Nonetheless, Structured Products balance increased marginally to $3.6 billion at February end.
Virtus Investment’s high operating expenses and unsustainable capital deployment activities are concerning. Further, the Russia-Ukraine conflict has led to negative sentiments in the market, resulting in volatility and unfavorable returns. However, its integrated multi-boutique business model, in a rapidly growing industry, might support its performance.
Virtus Investment stock's decline of 17.9% has underperformed the industry’s fall of 15.2% over the past year.
Currently, Virtus Investment carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Franklin Resources, Inc. (BEN - Free Report) announced its preliminary AUM for February 2022. BEN's month-end AUM of $1,486.9 billion represented a 2.3% decline from the previous month.
Franklin's AUM was affected by the negative impacts of the markets and long-term net outflows.
Invesco (IVZ - Free Report) announced preliminary AUM for February 2022. The company’s month-end AUM of $1,531.4 billion represented a 1.3% fall from the prior month-end.
Invesco recorded net long-term inflows of $3.4 billion and money market net inflows of $3.6 billion. Further, foreign exchange rate movements increased the AUM balance by $1.5 billion. For the month, the company’s AUM was negatively impacted by unfavorable market returns, which decreased it by $28 billion.