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Virtus Investment's (VRTS) February AUM Rises 2.9% Sequentially
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Virtus Investment Partners, Inc. (VRTS - Free Report) reported an improvement of 2.9% in its preliminary assets under management (AUM) balance for February 2024. The company reported a month-end AUM of $176.1 billion, implying an increase from the prior month’s level of $171.1 billion.
The company offered services to $2.6 billion of other fee-earning assets. This was excluded from the above-mentioned AUM balance.
In February, Virtus Investment’s open-end fund balance increased 2.5% to $57 billion from the previous month's level. Further, the retail separate account balance was up 5.2% to $45.3 billion. Institutional accounts balance increased 2% on a sequential basis to $63.9 billion.
Additionally, the closed-end fund balance improved slightly to $9.9 billion from January 2024.
Virtus Investment’s multi-boutique business model is expected to support its performance in the current rapidly developing economy. However, the elevated operating expenses pose near-term concerns for the company.
Over the past three months, shares of Virtus Investment have risen 9.6% compared with the industry’s 7.6% growth. Image Source: Zacks Investment Research
Franklin Resources, Inc. (BEN - Free Report) recently reported AUM of $1.62 trillion as of Feb 29, 2024, indicating an increase of 1.3% from the prior month’s level.
The improvement was driven by positive markets and long-term net inflows, including the previously disclosed $5.5 billion in the retirement channel. However, fixed-income institutional client redemption of $2 billion affected the AUM balance.
Victory Capital Holdings, Inc. (VCTR - Free Report) recently reported AUM of $164.9 billion for February 2024, implying growth of 2.9% from $160.2 billion reported in the prior month.
By asset class, VCTR’s U.S. Mid Cap Equity AUM was up 4.4% from the January level to $31.3 billion. The U.S. Small Cap Equity AUM of $15.7 billion increased 3%. The Global/Non-U.S. Equity AUM rose 3.4% to $17.1 billion. The U.S. Large Cap Equity AUM increased 5.5% to $13.5 billion.
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Virtus Investment's (VRTS) February AUM Rises 2.9% Sequentially
Virtus Investment Partners, Inc. (VRTS - Free Report) reported an improvement of 2.9% in its preliminary assets under management (AUM) balance for February 2024. The company reported a month-end AUM of $176.1 billion, implying an increase from the prior month’s level of $171.1 billion.
The company offered services to $2.6 billion of other fee-earning assets. This was excluded from the above-mentioned AUM balance.
In February, Virtus Investment’s open-end fund balance increased 2.5% to $57 billion from the previous month's level. Further, the retail separate account balance was up 5.2% to $45.3 billion. Institutional accounts balance increased 2% on a sequential basis to $63.9 billion.
Additionally, the closed-end fund balance improved slightly to $9.9 billion from January 2024.
Virtus Investment’s multi-boutique business model is expected to support its performance in the current rapidly developing economy. However, the elevated operating expenses pose near-term concerns for the company.
Over the past three months, shares of Virtus Investment have risen 9.6% compared with the industry’s 7.6% growth.
Image Source: Zacks Investment Research
Currently, Virtus Investment 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
Franklin Resources, Inc. (BEN - Free Report) recently reported AUM of $1.62 trillion as of Feb 29, 2024, indicating an increase of 1.3% from the prior month’s level.
The improvement was driven by positive markets and long-term net inflows, including the previously disclosed $5.5 billion in the retirement channel. However, fixed-income institutional client redemption of $2 billion affected the AUM balance.
Victory Capital Holdings, Inc. (VCTR - Free Report) recently reported AUM of $164.9 billion for February 2024, implying growth of 2.9% from $160.2 billion reported in the prior month.
By asset class, VCTR’s U.S. Mid Cap Equity AUM was up 4.4% from the January level to $31.3 billion. The U.S. Small Cap Equity AUM of $15.7 billion increased 3%. The Global/Non-U.S. Equity AUM rose 3.4% to $17.1 billion. The U.S. Large Cap Equity AUM increased 5.5% to $13.5 billion.