Virtus Investment Partners Reports Preliminary September 30, 2022 Assets Under Management

Rhea-AI Summary

Virtus Investment Partners reported preliminary assets under management of $145.0 billion as of September 30, 2022, reflecting a decrease from June 30, 2022 due to market depreciation and net outflows in various accounts, partially offset by positive net flows in closed-end funds. The company also managed an additional $2.5 billion in other fee-earning assets not included in the total. The breakdown shows open-end funds at $54.5 billion, closed-end funds at $10.1 billion, retail separate accounts at $33.4 billion, and institutional accounts at $47.0 billion.

Positive

• Closed-end funds showed positive net flows, indicating some investor confidence.
• The firm retains a substantial amount of fee-earning assets worth $2.5 billion.

Negative

• Total assets under management decreased from $157.8 billion in June 2022 to $145.0 billion.
• Net outflows occurred in open-end funds, institutional accounts, and retail separate accounts.

HARTFORD, Conn., Oct. 11, 2022 /PRNewswire/ -- Virtus Investment Partners, Inc. (NASDAQ: VRTS) today reported preliminary assets under management of $145.0 billion as of September 30, 2022. The decrease from June 30, 2022 primarily reflected market depreciation and net outflows in open-end funds, institutional accounts and retail separate accounts, partially offset by positive net flows in closed-end funds. In addition, the company provided services to $2.5 billion of other fee-earning assets, which are not included in assets under management.

Assets Under Management (unaudited)
($ in millions)
By Product Type:	September 30, 2022		August 31, 2022		June 30, 2022
Open-End Funds (1)	$                  54,454		$                  59,895		$                  59,479
Closed-End Funds	10,146		10,999		10,645
Retail Separate Accounts	33,381		36,108		35,248
Institutional Accounts (2)	46,993		50,767		50,048
Total	$                 144,974		$                157,769		$                 155,420

(1)   Represents assets under management of U.S. retail funds, global funds, exchange traded funds, and variable insurance funds 
(2)   Represents assets under management of institutional separate and commingled accounts including structured products

About Virtus Investment Partners, Inc.

Virtus Investment Partners (NASDAQ: 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. 

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SOURCE Virtus Investment Partners, Inc.

FAQ

What are the preliminary assets under management reported by Virtus Investment Partners on October 11, 2022?

Virtus Investment Partners reported preliminary assets under management of $145.0 billion as of September 30, 2022.

Which categories contributed to the decrease in Virtus Investment Partners' assets under management?

The decrease primarily reflected market depreciation and net outflows in open-end funds, institutional accounts, and retail separate accounts.

How much were the positive net flows in closed-end funds for Virtus Investment Partners?

Closed-end funds contributed positively, helping offset some of the net outflows.

What additional fee-earning assets does Virtus Investment Partners manage?

Virtus manages an additional $2.5 billion in other fee-earning assets, which are not included in assets under management.