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Victory Capital's May AUM Decline on Money Market Outflows
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Victory Capital Holdings (VCTR - Free Report) announced assets under management (AUM) by its subsidiaries of $127.7 billion for May 2020. The results reflect 3.1% fall from $131.8 billion recorded as of Apr 30, 2020.
The closing of Charles Schwab’s (SCHW - Free Report) acquisition of USAA’s Investment Management Company in the reported month resulted in a transfer of assets, mainly consisting of short-term money market funds, which were subject to a revenue sharing arrangement. Thus, Money Market/Short-Term Assets declined 68% sequentially to $3.8 billion. Moreover, certain long-term assets were transferred due to the closing of the acquisition.
At the end of May, the company’s U.S. Mid Cap Equity AUM grew 5.8% from April-end to $22.4 billion. U.S. Small Cap Equity and Global/Non-U.S. Equity AUM of $14.1 billion and $10.7 billion increased 6.2% and 4.6%, respectively. Further, U.S. Large Cap Equity AUM rose 5.2% from April to $12.5 billion.
Victory Capital recorded $28.8 billion in Solutions, which were up 3.5% from $27.9 billion reported in April. Other assets increased 6% to $194 million on a sequential basis. However, Fixed Income assets were $35.3 billion, which declined 0.5% from the prior month.
Sound positioning of Victory Capital’s integrated multi-boutique business model in a rapidly evolving industry and effectiveness of the distribution platform might keep supporting its performance.
Shares of the company have lost 10.6% over the past year compared with 4.9% decline recorded by the industry.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $63.8 billion as of May 31, 2020, which increased 2.7% from the prior-month level. Market appreciation of $1.4 billion and net inflows of $428 million were partially offset by distributions of $199 million.
Franklin Resources’ (BEN - Free Report) preliminary month-end AUM balance as of May 31, 2020 increased 3% sequentially to $617.6 billion. This was largely driven by strong market performance and lower net outflows.
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Victory Capital's May AUM Decline on Money Market Outflows
Victory Capital Holdings (VCTR - Free Report) announced assets under management (AUM) by its subsidiaries of $127.7 billion for May 2020. The results reflect 3.1% fall from $131.8 billion recorded as of Apr 30, 2020.
The closing of Charles Schwab’s (SCHW - Free Report) acquisition of USAA’s Investment Management Company in the reported month resulted in a transfer of assets, mainly consisting of short-term money market funds, which were subject to a revenue sharing arrangement. Thus, Money Market/Short-Term Assets declined 68% sequentially to $3.8 billion. Moreover, certain long-term assets were transferred due to the closing of the acquisition.
At the end of May, the company’s U.S. Mid Cap Equity AUM grew 5.8% from April-end to $22.4 billion. U.S. Small Cap Equity and Global/Non-U.S. Equity AUM of $14.1 billion and $10.7 billion increased 6.2% and 4.6%, respectively. Further, U.S. Large Cap Equity AUM rose 5.2% from April to $12.5 billion.
Victory Capital recorded $28.8 billion in Solutions, which were up 3.5% from $27.9 billion reported in April. Other assets increased 6% to $194 million on a sequential basis. However, Fixed Income assets were $35.3 billion, which declined 0.5% from the prior month.
Sound positioning of Victory Capital’s integrated multi-boutique business model in a rapidly evolving industry and effectiveness of the distribution platform might keep supporting its performance.
Shares of the company have lost 10.6% over the past year compared with 4.9% decline recorded by the industry.
Currently, Victory Capital 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
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $63.8 billion as of May 31, 2020, which increased 2.7% from the prior-month level. Market appreciation of $1.4 billion and net inflows of $428 million were partially offset by distributions of $199 million.
Franklin Resources’ (BEN - Free Report) preliminary month-end AUM balance as of May 31, 2020 increased 3% sequentially to $617.6 billion. This was largely driven by strong market performance and lower net outflows.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>