Victory Capital Reports July 2024 Total Client Assets

Rhea-AI Summary

Victory Capital Holdings, Inc. (NASDAQ: VCTR) reported its Total Client Assets for July 2024. The company's Total Assets Under Management (AUM) reached $172.1 billion, with Other Assets at $4.8 billion, bringing Total Client Assets to $177.0 billion as of July 31, 2024. The average Total AUM for July was $170.8 billion, average Other Assets were $5.0 billion, and average Total Client Assets stood at $175.7 billion.

The report provides a detailed breakdown of assets by class and vehicle. Notable figures include Solutions at $59.9 billion, U.S. Mid Cap Equity at $31.9 billion, and Fixed Income at $24.8 billion. By vehicle, Mutual Funds led with $114.9 billion, followed by Separate Accounts and Other Pooled Vehicles at $51.3 billion.

Positive

• Total Assets Under Management (AUM) increased to $172.1 billion from $168.7 billion in the previous month
• Total Client Assets grew to $177.0 billion from $173.8 billion in June 2024
• Solutions asset class saw an increase to $59.9 billion from $58.9 billion
• U.S. Mid Cap Equity assets rose to $31.9 billion from $31.0 billion
• ETF assets held by third parties increased to $5.9 billion from $5.4 billion

Negative

• Alternative Investments decreased to $3.2 billion from $3.4 billion in the previous month
• Other Assets (Institutional) declined to $4.8 billion from $5.1 billion

Insights

Financial Analyst

Victory Capital's July 2024 report shows positive momentum in asset management. Total Assets Under Management (AUM) reached $172.1 billion, a 2.1% increase from June. This growth is primarily driven by the Solutions and U.S. Mid Cap Equity asset classes, which saw increases of $1 billion and $923 million respectively. The company's diversified portfolio strategy appears to be paying off, with growth across multiple asset classes and vehicles.

Notably, ETF assets grew by 8.7% month-over-month, signaling increased investor interest in this vehicle type. However, Alternative Investments saw a 5.5% decrease, which could be a potential area of concern. The slight decrease in Other Assets from $5.1 billion to $4.8 billion is worth monitoring but doesn't significantly impact the overall positive trend.

These results suggest that Victory Capital is effectively navigating market conditions and attracting client assets, which bodes well for potential revenue growth in the coming quarters.

Market Research Analyst

The July 2024 figures for Victory Capital reflect broader market trends and investor sentiment. The increase in Total AUM, particularly in Solutions and U.S. Mid Cap Equity, suggests a growing appetite for diversified investment strategies and mid-sized companies. This aligns with the current economic landscape where investors are seeking balanced approaches to navigate market uncertainties.

The significant growth in ETF assets (8.7% month-over-month) is particularly noteworthy. It indicates a continuing shift towards passive, low-cost investment vehicles, a trend that has been reshaping the asset management industry. Victory Capital's ability to capitalize on this trend could be important for its long-term competitiveness.

However, the decline in Alternative Investments might signal a reduced appetite for higher-risk, potentially higher-return strategies. This could be a response to economic uncertainties or changing risk preferences among investors. Victory Capital will need to monitor this trend and potentially adjust its product offerings accordingly to maintain growth across all asset classes.

SAN ANTONIO, Texas--(BUSINESS WIRE)-- Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) today reported Total Assets Under Management (AUM) of $172.1 billion, Other Assets of $4.8 billion, and Total Client Assets of $177.0 billion, as of July 31, 2024.

For the month of July, average Total AUM was $170.8 billion, average Other Assets was $5.0 billion, and average Total Client Assets was $175.7 billion.

Victory Capital Holdings, Inc.
Total Client Assets (unaudited; in millions) 1
	As of:
By Asset Class		July 31, 2024					June 30, 2024
Solutions		$	59,942				$	58,936
Fixed Income			24,799					24,398
U.S. Mid Cap Equity			31,938					31,015
U.S. Small Cap Equity			16,100					15,182
U.S. Large Cap Equity			14,030					13,983
Global / Non-U.S. Equity			18,784					18,459
Alternative Investments			3,203					3,390
Total Long-Term Assets		$	168,795				$	165,362
Money Market / Short Term Assets			3,347					3,320
Total Assets Under Management2		$	172,142				$	168,681
By Vehicle
Mutual Funds3		$	114,889				$	112,584
Separate Accounts and Other Pooled Vehicles4			51,338					50,657
ETFs5			5,915					5,440
Total Assets Under Management		$	172,142				$	168,681
Other Assets6
Institutional		$	4,809				$	5,094
Total Other Assets		$	4,809				$	5,094
Total Client Assets
Total Assets Under Management		$	172,142				$	168,681
Total Other Assets			4,809					5,094
Total Client Assets		$	176,951				$	173,775
1Due to rounding, numbers presented in these tables may not add up precisely to the totals provided.
2Total AUM includes both discretionary assets under management and non-discretionary assets under advisement and excludes Other Assets.
3Includes institutional and retail share classes, money market and VIP funds.
4Includes wrap program accounts, CITs, UMAs, UCITS, private funds, and non-U.S. domiciled pooled vehicles.
5Represents only ETF assets held by third parties and excludes ETF assets held by other Victory Capital products.
6Includes low-fee (2 to 4 bps) institutional assets, previously reported in the Solutions asset class within the by asset class table and in Separate Accounts and Other Pooled Vehicles within the by vehicle table. These assets are included as part of Victory’s Regulatory Assets Under Management reported in Form ADV Part 1.

About Victory Capital

Victory Capital is a diversified global asset management firm with total assets under management of $172.1 billion, and $177.0 billion in total client assets, as of July 31, 2024. The Company employs a next-generation business strategy that combines boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.

Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 11 autonomous Investment Franchises and a Solutions Business, Victory Capital offers a wide array of investment products and services, including mutual funds, ETFs, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, a 529 Education Savings Plan, and brokerage services.

Victory Capital is headquartered in San Antonio, Texas, with offices and investment professionals in the U.S. and around the world. To learn more please visit www.vcm.com or follow Victory Capital on Facebook, Twitter, and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240812930161/en/

Investors:

Matthew Dennis, CFA

Chief of Staff

Director, Investor Relations

216-898-2412

mdennis@vcm.com

Media:

Jessica Davila

Director of Global Communications

210-694-9693

Jessica_davila@vcm.com

Source: Victory Capital Holdings, Inc.

FAQ

What was Victory Capital's Total Assets Under Management (AUM) as of July 31, 2024?

Victory Capital's Total Assets Under Management (AUM) was $172.1 billion as of July 31, 2024.

How much were Victory Capital's Total Client Assets on July 31, 2024?

Victory Capital's Total Client Assets were $177.0 billion on July 31, 2024.

What was the largest asset class for Victory Capital in July 2024?

The largest asset class for Victory Capital in July 2024 was Solutions, with $59.9 billion in assets.

How much did Victory Capital's ETF assets grow in July 2024?

Victory Capital's ETF assets grew to $5.9 billion in July 2024, up from $5.4 billion in the previous month.

What was the average Total AUM for Victory Capital (VCTR) in July 2024?

The average Total AUM for Victory Capital (VCTR) in July 2024 was $170.8 billion.