Virtus Investment Partners Reports Preliminary June 30, 2024 Assets Under Management
Virtus Investment Partners (NYSE: VRTS) reported preliminary assets under management (AUM) of $173.6 billion and other fee-earning assets of $2.6 billion, totaling $176.2 billion as of June 30, 2024.
This represents a decrease from the $179.3 billion reported on March 31, 2024, primarily due to market performance and net outflows from institutional accounts and open-end funds, partially mitigated by positive net flows in retail separate accounts.
Preliminary average AUM for the quarter was $175.2 billion. The AUM for different product types includes $55.9 billion in open-end funds, $9.9 billion in closed-end funds, $45.7 billion in retail separate accounts, and $62.1 billion in institutional accounts.
By asset class, the AUM consists of $99.2 billion in equity, $37.0 billion in fixed income, $21.1 billion in multi-asset, and $16.3 billion in alternatives.
- None.
- Decrease in total AUM from $179.3 billion to $173.6 billion from March 31 to June 30, 2024.
- Net outflows from institutional accounts and open-end funds.
- Decline in AUM across key asset classes: Equity ($103.5B to $99.2B), Fixed Income ($37.0B to $36.9B), Multi-Asset ($22.0B to $21.1B), Alternatives ($16.8B to $16.3B).
Insights
The reported decline in Assets Under Management (AUM) from
Breaking it down by product type, the open-end funds saw a decrease from
This AUM shrinkage might suggest investor sentiment is leaning towards caution, possibly due to broader market turbulence or specific concerns about Virtus's product offerings. It's essential to monitor whether this trend continues, as sustained outflows could impact the firm's revenue and stock price. Additionally, the asset class breakdown shows that equity assets declined from
For long-term investors, it's important to understand whether these outflows are part of a broader industry trend or specific to Virtus. Factors such as performance relative to benchmarks, fee structures and competitive positioning should be considered.
The decline in AUM reflects a broader market sentiment and specific dynamics within Virtus Investment Partners' offerings. The reduction in institutional accounts and open-end funds suggests that large-scale investors may be reallocating their assets, possibly due to underperformance or better opportunities elsewhere. This shift could be indicative of a pervasive risk-averse attitude amidst current market conditions.
Interestingly, the positive net flows in retail separate accounts show a contrasting behavior among retail investors, who might be seeking personalized management strategies during volatile periods. Retail investors often have different risk profiles and may be more influenced by short-term gains or specific fund marketing efforts.
From a strategic perspective, it could be beneficial for Virtus to explore why their institutional and open-end funds are facing outflows. Are the performance metrics not aligning with investor expectations? Or is there a broader shift in investor preference towards different asset classes or fund structures? Addressing these questions could stem further outflows and potentially attract new investments.
Investors should keep an eye on Virtus’s future strategies to retain and grow their AUM, such as potential adjustments in their fund offerings or shifts in marketing strategies.
Assets Under Management (unaudited) |
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($ in millions) |
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|
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By Product Type: |
June 30, 2024 |
|
May 31, 2024 |
|
March 31, 2024 |
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Open-End Funds (1) |
$ |
55,852 |
|
$ |
56,170 |
|
$ |
57,818 |
Closed-End Funds |
|
9,915 |
|
|
10,002 |
|
|
10,064 |
Retail Separate Accounts (2) |
|
45,672 |
|
|
45,605 |
|
|
46,816 |
Institutional Accounts (3) |
|
62,146 |
|
|
61,548 |
|
|
64,613 |
Total Assets Under Management |
$ |
173,585 |
|
$ |
173,325 |
|
$ |
179,311 |
|
|
|
|
|
|
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By Asset Class: |
June 30, 2024 |
|
May 31, 2024 |
|
March 31, 2024 |
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Equity |
$ |
99,224 |
|
$ |
98,353 |
|
$ |
103,501 |
Fixed Income |
|
36,970 |
|
|
36,758 |
|
|
37,037 |
Multi-Asset (4) |
|
21,060 |
|
|
21,578 |
|
|
21,975 |
Alternatives (5) |
|
16,331 |
|
|
16,636 |
|
|
16,798 |
Total Assets Under Management |
$ |
173,585 |
|
$ |
173,325 |
|
$ |
179,311 |
| (1) Represents assets under management of |
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(2) Includes strategies for which investment models are provided to managed account sponsors |
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| (3) Represents assets under management of institutional separate and commingled accounts including structured products | ||||||||
| (4) Consists of multi-asset offerings not included in equity, fixed income, and alternatives | ||||||||
(5) Consists of managed futures, event-driven, real estate securities, infrastructure, long/short, and other strategies |
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About Virtus Investment Partners, Inc.
Virtus Investment Partners (NYSE: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. We provide investment management products and services from our affiliated managers, each with a distinct investment style and autonomous investment process, as well as select subadvisers. Investment solutions are available across multiple disciplines and product types to meet a wide array of investor needs. Additional information about our firm, investment partners, and strategies is available at virtus.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240711459069/en/
Sean Rourke
(860) 263-4709
sean.rourke@virtus.com
Source: Virtus Investment Partners
FAQ
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