Pzena Investment Management, Inc. Announces December 31, 2020 Assets Under Management and Flows for the Fourth Quarter of 2020
Pzena Investment Management reported preliminary assets under management (AUM) of $43.3 billion as of December 31, 2020, showing an increase from $40.7 billion in November 2020. This growth was driven primarily by an uptick in separately managed accounts, which rose to $17.3 billion from $16.0 billion the previous month.
Fourth-quarter inflows amounted to $1.8 billion, while depreciation and outflows totaled $2.1 billion, leading to a net inflow of $10.3 billion in market appreciation, marking a solid performance.
- Assets under management increased to $43.3 billion from $40.7 billion month-over-month.
- Separately managed accounts rose significantly to $17.3 billion from $16.0 billion in November 2020.
- Fourth quarter inflows totaled $1.8 billion.
- Total outflows and depreciation in the fourth quarter reached $2.1 billion.
NEW YORK, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Pzena Investment Management, Inc. (NYSE: PZN) today reported its preliminary assets under management as of December 31, 2020 and preliminary flows for the fourth quarter of 2020.
AUM for month-end December 2020, month-end November 2020, and month-end December 2019 are listed below:
Pzena Investment Management, Inc.
Assets Under Management1
($ billions)
| As of | As of | As of | ||||||||||
| December 31, 2020 | November 30, 2020 | December 31, 2019 | ||||||||||
| Account Type | ||||||||||||
| Separately Managed Accounts | $ | 17.3 | $ | 16.0 | $ | 16.4 | ||||||
| Sub-Advised Accounts | 23.3 | 22.3 | 22.4 | |||||||||
| Pzena Funds | 2.7 | 2.4 | 2.4 | |||||||||
| Total | $ | 43.3 | $ | 40.7 | $ | 41.2 | ||||||
| Investment Strategy | ||||||||||||
| U.S. Value Strategies | ||||||||||||
| Large Cap Value | $ | 9.2 | $ | 8.7 | $ | 10.1 | ||||||
| Mid Cap Value | 2.6 | 2.7 | 3.7 | |||||||||
| Small Cap Value | 2.2 | 1.8 | 1.8 | |||||||||
| Value | 0.6 | 0.6 | 0.9 | |||||||||
| Other U.S. Strategies | 0.2 | 0.2 | 0.2 | |||||||||
| Total U.S. Value Strategies | 14.8 | 14.0 | 16.7 | |||||||||
| Global & Non-U.S. Value Strategies | ||||||||||||
| Global Value | 11.8 | 10.9 | 8.9 | |||||||||
| International Value | 6.9 | 6.8 | 6.9 | |||||||||
| Emerging Markets Value | 6.5 | 5.9 | 5.3 | |||||||||
| European Value | 2.9 | 2.7 | 3.0 | |||||||||
| Other Global & Non-U.S. Value Strategies | 0.4 | 0.4 | 0.4 | |||||||||
| Total Global & Non-U.S. Value Strategies | 28.5 | 26.7 | 24.5 | |||||||||
| Total | $ | 43.3 | $ | 40.7 | $ | 41.2 | ||||||
| Account Domicile | ||||||||||||
| U.S. | $ | 26.5 | $ | 25.2 | $ | 27.0 | ||||||
| Non-U.S. | 16.8 | 15.5 | 14.2 | |||||||||
| Total | $ | 43.3 | $ | 40.7 | $ | 41.2 | ||||||
1 Numbers may be subject to rounding.
Flows and investment performance for the fourth quarter of 2020 are listed below1:
| As of | Market | As of | ||||||||||||||||||
| September | Appreciation | December | ||||||||||||||||||
| 30, 2020 | Inflows | (Outflows) | (Depreciation) | 31, 2020 | ||||||||||||||||
| Account Type | ||||||||||||||||||||
| Separately Managed Accounts | $ | 13.3 | $ | 0.6 | $ | (0.7 | ) | $ | 4.1 | $ | 17.3 | |||||||||
| Sub-Advised Accounts | 18.0 | 1.0 | (1.2 | ) | 5.5 | 23.3 | ||||||||||||||
| Pzena Funds | 2.0 | 0.2 | (0.2 | ) | 0.7 | 2.7 | ||||||||||||||
| Total | $ | 33.3 | $ | 1.8 | $ | (2.1 | ) | $ | 10.3 | $ | 43.3 | |||||||||
1 Numbers may be subject to rounding.
About Pzena
Pzena Investment Management, LLC, the firm’s operating company, is a value-oriented investment management firm. Founded in 1995, Pzena Investment Management has built a diverse, global client base. More firm and stock information is posted at www.pzena.com.
Forward-Looking Statements
This press release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements provide the Company’s current views, expectations, or forecasts of future events and performance, and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as “anticipate,” “believe,” “continue,” “ongoing,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking.
Among the factors that could cause actual results to differ from those expressed or implied by a forward-looking statement are those described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K, as filed with the SEC on March 10, 2020 and in the Company’s Quarterly Reports on Form 10-Q as filed with the SEC. In light of these risks, uncertainties, assumptions, and factors, actual results could differ materially from those expressed or implied in the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this release.
The Company is not under any obligation and does not intend to make publicly available any update or other revisions to any forward-looking statements to reflect circumstances existing after the date of this release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.
Contact: Jessica Doran, 212-355-1600 or doran@pzena.com.
A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/1bacbd82-e65e-4afb-8acc-a3fa2674302e
FAQ
What are PZN's latest assets under management figures for December 2020?
How much did PZN's separately managed accounts grow in December 2020?
What were the inflows and outflows for PZN in the fourth quarter of 2020?
How did PZN's assets compare to December 2019?
What accounted for the changes in PZN's asset management from November to December 2020?
