Yahoo Finance Virtus Investment (VRTS) November AUM Down 1.5% Sequentially
Virtus Investment Partners, Inc. VRTS recorded a sequential decrease in the preliminary assets under management (AUM) balance for November 2021 due to unfavorable markets. The total AUM of $184.5 billion reflects a 1.5% fall from $187.4 billion recorded on Oct 31, 2021.
Additionally, Virtus Investment provided services to $3.7 billion of other fee-earning assets. These are not included in the above-mentioned AUM balance.
At November-end, Virtus Investment’s Open-End Funds balance fell 2.8% from October-end to $77.6 billion. Exchange Traded Funds and Retail Separate Accounts balances of $1.4 billion and $43.2 billion each decreased marginally from the respective prior-month figures.
Further, Institutional Accounts balance decreased marginally to $46.7 billion. Also, Closed-End Funds balance dipped 2.3% sequentially to $11.9 billion.
Nonetheless, Structured Products balance increased marginally to $3.7 billion at November-end.
Sound positioning of Virtus Investment’s integrated multi-boutique business model in a rapidly growing industry and an effective distribution platform might support its performance.
Virtus Investment stock's dip of 1% has been narrower than the industry’s fall of 5.6% over the past six months.
Image Source: Zacks Investment Research
Currently, Virtus Investment carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Some other firms that released monthly data are T. Rowe Price Group, Inc. TROW, Artisan Partners Asset Management Inc. APAM and Franklin Resources BEN. At present, T. Rowe Price and Artisan Partners have a Zacks Rank of 3, while Franklin Resources carries a Zacks Rank #2 (Buy) at present.
TROW reported a preliminary AUM of $1.63 trillion as of Nov 30, 2021. This reflects a 2.6% decrease from the prior month’s $1.67 trillion.
APAM reported a preliminary AUM of $169.2 billion as of Nov 30, 2021. Artisan Funds and Artisan Global Funds aggregated $82.2 billion of the total AUM, while separate accounts and other AUM accounted for $87 billion.
BEN recorded a preliminary AUM balance of $ 1,546.8 billion for November 2021. This highlighted a marginal decline from $1,561.7 billion recorded as of Oct 31, 2021.
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