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Virtus Investment's (VRTS) January AUM Declines 1% Sequentially

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Virtus Investment Partners, Inc. (VRTS - Free Report) recorded a sequential decline of nearly 1% in its preliminary assets under management (AUM) balance for January 2024. The company reported a month-end AUM of $171.1 billion, indicating a decline from the Dec 31, 2023, level of $172.3 billion.

The company offered services to $2.6 billion of other fee-earning assets. This was excluded from the above-mentioned AUM balance.

In January, Virtus Investment’s open-end fund balance decreased around 1% from the end of the previous month to $55.6 billion. Also, closed-end fund balance declined 2.3% to $9.8 billion.

Institutional accounts balance decreased marginally on a sequential basis to $62.7 billion. Retail separate accounts balance of $43.1 billion dipped from $43.2 billion in the prior month.

The company’s integrated multi-boutique business model in a rapidly growing industry is likely to support its performance. Yet, elevated operating expenses are expected to hurt Virtus Investment’s bottom line to an extent in the near term.

Over the past six months, shares of Virtus Investment have risen 16.9% compared with 25.3% growth of the industry.

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Currently, Virtus Investment sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Competitive Landscape

Victory Capital Holdings, Inc. (VCTR - Free Report) reported AUM of $165.5 billion for January 2024. This reflected a 1% decline from $166.6 billion recorded as of Dec 31, 2023.

By asset classes, at the end of January, VCTR’s U.S. Mid Cap Equity AUM was down 2% from the December level to nearly $30 billion. The U.S. Small Cap Equity AUM of $15.2 billion decreased 4.4%. The Global/Non-U.S. Equity AUM dipped 1.7% to $16.5 billion. Nonetheless, the U.S. Large Cap Equity AUM increased 1.3% to $12.8 billion.

WisdomTree, Inc. (WT - Free Report) reported total AUM of $100.28 billion as of Jan 31, 2024, which reflected a marginal increase from the prior-month level. The rise was primarily due the impact of total net inflows.

During January, WT recorded inflows of $397 million, $447 million, $152 million, $59 million and $9 million from the U.S. equity, international developed market equity, emerging market equity, cryptocurrency and alternatives, respectively.


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