Virtus Investment Partners Reports Preliminary October 31, 2024 Assets Under Management

Rhea-AI Summary

Virtus Investment Partners (NYSE: VRTS) reported preliminary assets under management (AUM) of $179.4 billion and other fee-earning assets of $2.3 billion, totaling $181.7 billion as of October 31, 2024. The decline in AUM from the previous month is attributed to market performance and net outflows from open-end funds and institutional accounts, partially offset by positive net flows in retail separate accounts. Preliminary average AUM for the quarter was $182.4 billion.

By product type, AUM figures were:

• Open-End Funds: $56.6 billion
• Closed-End Funds: $10.3 billion
• Retail Separate Accounts: $49.8 billion
• Institutional Accounts: $62.7 billion

By asset class, AUM figures were:

• Equity: $104.5 billion
• Fixed Income: $38.2 billion
• Multi-Asset: $21.3 billion
• Alternatives: $15.4 billion

Positive

• None.

Negative

• AUM decreased from $183.7 billion to $179.4 billion.
• Net outflows from open-end funds and institutional accounts.
• Decline in equity AUM from $106.8 billion to $104.5 billion.
• Fixed income AUM decreased from $39 billion to $38.2 billion.
• Alternatives AUM dropped from $16.3 billion to $15.4 billion.

Insights

Financial Analyst

The latest AUM report reveals concerning trends for Virtus Investment Partners. Total AUM declined by $4.3 billion to $179.4 billion, with weakness across multiple segments. Open-end funds saw significant outflows, dropping by $1.5 billion, while institutional accounts decreased by $1.9 billion. The only bright spot was retail separate accounts, which showed positive net flows despite overall market pressure.

The asset mix shows broad-based declines: Equity AUM fell $2.2 billion, fixed income dropped $837 million and alternatives declined $907 million. This widespread deterioration in AUM will likely impact management fees and earnings in the coming quarter. The 2.3% monthly AUM decline exceeds typical market volatility, suggesting underlying business challenges that could pressure profitability.

HARTFORD, Conn.--(BUSINESS WIRE)-- Virtus Investment Partners, Inc. (NYSE: VRTS) today reported preliminary assets under management (AUM) of $179.4 billion and other fee earning assets of $2.3 billion for total client assets of $181.7 billion as of October 31, 2024. The decrease in AUM from October 31, 2024 primarily reflects market performance and net outflows due to open-end funds and institutional accounts, partially offset by positive net flows in retail separate accounts. Preliminary average AUM for the quarter was $182.4 billion.

Assets Under Management (unaudited)
($ in millions)
By Product Type:	October 31, 2024			September 30, 2024
Open-End Funds (1)	$	56,625		$	58,100
Closed-End Funds		10,300			10,432
Retail Separate Accounts (2)		49,812			50,610
Institutional Accounts (3)		62,672			64,600
Total Assets Under Management	$	179,409		$	183,742
By Asset Class:	October 31, 2024			September 30, 2024
Equity	$	104,543		$	106,784
Fixed Income		38,177			39,014
Multi-Asset (4)		21,271			21,619
Alternatives (5)		15,418			16,325
Total Assets Under Management	$	179,409		$	183,742

(1)		Represents assets under management of U.S. retail funds, global funds, exchange-traded funds, and variable insurance funds
(2)		Includes strategies for which investment models are provided to managed account sponsors
(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

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/20241112424065/en/

Sean Rourke

(860) 263-4709

sean.rourke@virtus.com

Source: Virtus Investment Partners

FAQ

What is the preliminary AUM reported by Virtus Investment Partners for October 31, 2024?

Virtus Investment Partners reported preliminary assets under management (AUM) of $179.4 billion as of October 31, 2024.

How did Virtus Investment Partners' AUM change from September to October 2024?

Virtus Investment Partners' AUM decreased from $183.7 billion in September to $179.4 billion in October 2024.

What were the primary reasons for the AUM decline in October 2024 for Virtus Investment Partners?

The decline in AUM was primarily due to market performance and net outflows from open-end funds and institutional accounts.

How much did Virtus Investment Partners' equity AUM decrease in October 2024?

Virtus Investment Partners' equity AUM decreased from $106.8 billion to $104.5 billion in October 2024.

What was the AUM for Virtus Investment Partners' retail separate accounts in October 2024?

The AUM for retail separate accounts was $49.8 billion in October 2024.