Pzena Investment Management, Inc. Announces September 30, 2021 Assets Under Management and Flows for the Third Quarter of 2021
Pzena Investment Management (NYSE: PZN) reported preliminary assets under management (AUM) of $50.8 billion as of September 30, 2021, a decline from $53.1 billion in August and $33.3 billion in September 2020. Separately Managed Accounts contributed $18.8 billion, while Sub-Advised Accounts accounted for $29.3 billion, and Pzena Funds totaled $2.7 billion. The report also noted changes in investment flows, with outflows in various accounts leading to this decline. Despite the drop, the firm continues to operate as a value-oriented investment entity.
- Total AUM remains substantial at $50.8 billion.
- Diverse account types demonstrate varied investment strategies.
- Drop in AUM from $53.1 billion in August 2021.
- Decrease from $33.3 billion year over year as of September 2020.
- Outflows noted in various account types.
NEW YORK, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Pzena Investment Management, Inc. (NYSE: PZN) today reported its preliminary assets under management as of September 30, 2021 and preliminary flows for the third quarter of 2021.
AUM for month-end September 2021, month-end August 2021, and month-end September 2020 are listed below:
Pzena Investment Management, Inc.
Assets Under Management1
($ billions)
| As of | As of | As of | ||||||
| September 30, 2021 | August 31, 2021 | September 30, 2020 | ||||||
| Account Type | ||||||||
| Separately Managed Accounts | $ | 18.8 | $ | 19.6 | $ | 13.3 | ||
| Sub-Advised Accounts | 29.3 | 30.7 | 18.0 | |||||
| Pzena Funds | 2.7 | 2.8 | 2.0 | |||||
| Total | $ | 50.8 | $ | 53.1 | $ | 33.3 | ||
| Investment Strategy | ||||||||
| U.S. Value Strategies | ||||||||
| Large Cap Value | $ | 11.2 | $ | 11.6 | $ | 7.2 | ||
| Mid Cap Value | 2.9 | 3.0 | 2.3 | |||||
| Small Cap Value | 2.5 | 2.5 | 1.4 | |||||
| Value | 0.7 | 0.8 | 0.4 | |||||
| Other U.S. Strategies | 0.2 | 0.2 | 0.2 | |||||
| Total U.S. Value Strategies | 17.5 | 18.1 | 11.5 | |||||
| Global & Non-U.S. Value Strategies | ||||||||
| Global Value | 14.8 | 15.1 | 8.4 | |||||
| International Value | 7.8 | 8.9 | 5.9 | |||||
| Emerging Markets Value | 7.2 | 7.4 | 5.1 | |||||
| European Value | 3.0 | 3.1 | 2.1 | |||||
| Other Global & Non-U.S. Value Strategies | 0.5 | 0.5 | 0.3 | |||||
| Total Global & Non-U.S. Value Strategies | 33.3 | 35.0 | 21.8 | |||||
| Total | $ | 50.8 | $ | 53.1 | $ | 33.3 | ||
| Account Domicile | ||||||||
| U.S. | $ | 31.2 | $ | 32.3 | $ | 21.1 | ||
| Non-U.S. | 19.6 | 20.8 | 12.2 | |||||
| Total | $ | 50.8 | $ | 53.1 | $ | 33.3 | ||
1 Numbers may be subject to rounding.
Flows and investment performance for the third quarter of 2021 are listed below1:
| As of | Market | As of | ||||||||||||||
| June 30, | Appreciation | September 30, | ||||||||||||||
| 2021 | Inflows | (Outflows) | (Depreciation) | 2021 | ||||||||||||
| Account Type | ||||||||||||||||
| Separately Managed Accounts | $ | 20.0 | $ | 0.2 | $ | (1.1 | ) | $ | (0.3 | ) | $ | 18.8 | ||||
| Sub-Advised Accounts | 30.2 | 1.3 | (1.7 | ) | (0.5 | ) | 29.3 | |||||||||
| Pzena Funds | 2.9 | 0.1 | (0.2 | ) | (0.1 | ) | 2.7 | |||||||||
| Total | $ | 53.1 | $ | 1.6 | $ | (3.0 | ) | $ | (0.9 | ) | $ | 50.8 | ||||
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, 2021 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.
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FAQ
What is PZN's assets under management as of September 30, 2021?
How does PZN's AUM compare to previous months?
What account types contribute to PZN's AUM?
Did PZN experience any flows in the third quarter of 2021?
