Victory Capital Holdings, Inc. VCTR reported assets under management (AUM) of $163.6 billion for April 2024. This reflected a 4% decline from $170.3 billion as of Mar 31, 2024.
By asset class, VCTR’s U.S. Mid Cap Equity AUM declined 5.8% from the March level to $31.02. The U.S. Small Cap Equity AUM of $15.18 billion decreased 6.8%. The Global/Non-U.S. Equity AUM declined 2.2% to $17.8 billion. The U.S. Large Cap Equity AUM dipped 5.5% to $13.13 billion.
Also, Victory Capital recorded $55.6 billion in Solutions, down 3.7% from March 2024. Money Market/Short-Term assets rose 0.4% from March 2024 to $3.26 billion. However, the Alternative Investments asset balance declined 0.1% on a sequential basis to $3.4 billion. Fixed Income AUM was $24.04 billion, which declined 1.8% from the prior month.
The sound positioning of VCTR’s integrated multi-boutique business model in a rapidly evolving industry and the effectiveness of the distribution platform are likely to support its performance in the near term.
VCTR shares have gained 70% over the past six months compared with the industry‘s growth of 26.5%.
Image Source: Zacks Investment Research
Currently, Victory Capital carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Franklin Resources, Inc. BEN reported its preliminary AUM of $1.60 trillion as of Apr 30, 2024. This reflected a decrease of 2.5% from the prior month’s level.
For the quarter ended Apr 30, 2024, BEN’s AUM declined on negative markets and long-term net outflows, including $5.9 billion related to the $25-billion AUM received from the Great-West Lifeco acquisition.
Virtus Investment Partners, Inc. VRTS recorded a sequential decline of 5.2% in its preliminary AUM balance for April 2024. The company reported a month-end AUM of $170.06 billion, indicating a decline from the Mar 31, 2024, level of $179.31 billion.
VRTS offered services to $2.6 billion of other fee-earning assets. This was excluded from the above-mentioned AUM balance.
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