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WisdomTree's (WT) May AUM Declines on Negative Market Move
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WisdomTree, Inc. (WT - Free Report) reported total assets under management (AUM) of $89.6 billion as of May 31, 2023, which reflected a decrease of 2% from the prior-month level. The decline was due to negative market move of $2.2 billion partially offset by total net inflows of $325 million.
WT, during the month of May, recorded inflows from U.S. equity, international developed market equity, emerging market equity, fixed income, alternatives as well as leveraged and inverse strategies of $158 million, $558 million, $115 million, $315 million, $4 million and $44 million, respectively. These inflows were partially offset by outflows from commodity and currency as well as cryptocurrency of $860 million and $10 million, respectively.
The year-to-date net inflows of the company have jumped 21% to $7.1 billion, reflecting its organic growth. Further, WisdomTree has generated net inflows year to date in seven out of its eight major product categories.
The company’s strong organic growth profile along with a solid AUM balance is likely to aid its top line in the near term. However, a challenging operating environment is a major near-term headwind, which might hurt its financials to some extent.
Nonetheless, over the past six months, shares of WisdomTree have gained 34.3% against a decline of 0.4% recorded by the industry.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $77.9 billion as of May 31, 2023, which reflects a decrease of 3.8% from the prior-month level. Market appreciation of $2.4 billion, net outflows of $461 million and distributions of $181 million led to the decline.
CNS recorded total institutional accounts of $32.1 billion at the end of May 2023, falling 3.5% from the April-end level. Of the total institutional accounts, advisory accounts were $18.3 billion, while the rest were sub-advisory.
Victory Capital Holdings (VCTR - Free Report) reported AUM of $154.8 billion for May 2023. This reflected a 1.8% decrease from $157.6 billion reported as of Apr 30, 2023.
By asset classes, at the end of May, VCTR’s U.S. Mid Cap Equity AUM declined 4.1% from the April level to $27.8 billion. The U.S. Small Cap Equity AUM of $14.6 billion declined 3.1%. However, the U.S. Large Cap Equity AUM remained almost flat to $11.5 billion. The Global/Non-U.S. Equity AUM was down 2.9% to $14.8 billion.
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WisdomTree's (WT) May AUM Declines on Negative Market Move
WisdomTree, Inc. (WT - Free Report) reported total assets under management (AUM) of $89.6 billion as of May 31, 2023, which reflected a decrease of 2% from the prior-month level. The decline was due to negative market move of $2.2 billion partially offset by total net inflows of $325 million.
WT, during the month of May, recorded inflows from U.S. equity, international developed market equity, emerging market equity, fixed income, alternatives as well as leveraged and inverse strategies of $158 million, $558 million, $115 million, $315 million, $4 million and $44 million, respectively. These inflows were partially offset by outflows from commodity and currency as well as cryptocurrency of $860 million and $10 million, respectively.
The year-to-date net inflows of the company have jumped 21% to $7.1 billion, reflecting its organic growth. Further, WisdomTree has generated net inflows year to date in seven out of its eight major product categories.
The company’s strong organic growth profile along with a solid AUM balance is likely to aid its top line in the near term. However, a challenging operating environment is a major near-term headwind, which might hurt its financials to some extent.
Nonetheless, over the past six months, shares of WisdomTree have gained 34.3% against a decline of 0.4% recorded by the industry.
Image Source: Zacks Investment Research
Currently, WisdomTree carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $77.9 billion as of May 31, 2023, which reflects a decrease of 3.8% from the prior-month level. Market appreciation of $2.4 billion, net outflows of $461 million and distributions of $181 million led to the decline.
CNS recorded total institutional accounts of $32.1 billion at the end of May 2023, falling 3.5% from the April-end level. Of the total institutional accounts, advisory accounts were $18.3 billion, while the rest were sub-advisory.
Victory Capital Holdings (VCTR - Free Report) reported AUM of $154.8 billion for May 2023. This reflected a 1.8% decrease from $157.6 billion reported as of Apr 30, 2023.
By asset classes, at the end of May, VCTR’s U.S. Mid Cap Equity AUM declined 4.1% from the April level to $27.8 billion. The U.S. Small Cap Equity AUM of $14.6 billion declined 3.1%. However, the U.S. Large Cap Equity AUM remained almost flat to $11.5 billion. The Global/Non-U.S. Equity AUM was down 2.9% to $14.8 billion.