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Victory Capital October AUM Rises on Higher Equity Assets

Zacks Equity Research

Victory Capital Holdings VCTR has announced assets under management (AUM) by its subsidiaries of $146.8 billion for October 2019. Results display a nearly 1% rise from $145.8 billion recorded as of Sep 30, 2019.

At the end of October, Victory Capital’s U.S. Mid Cap Equity AUM decreased slightly from September-end to $25.4 billion. However, U.S. Small Cap Equity and Global / Non-U.S. Equity climbed 1.1% and 3%, respectively. Further, U.S. Large Cap Equity AUM increased slightly from September to $13.5 billion.

However, Fixed Income assets were $37.8 billion, almost stable sequentially. Nevertheless, Victory Capital recorded $30.2 billion in Solutions, which was up 2.1% from $29.6 billion reported in September.

Other assets were down 10.7% to $217 million. Money Market Assets were $11.5 billion, almost stable on a sequential basis.

Sound positioning of Victory Capital’s integrated multi-boutique business model in a rapidly evolving industry and the effectiveness of its distribution platform might keep supporting the company’s performance.

Shares of the company have gained 15.6% over the past six months against 4% decline recorded by the industry.

Currently, Victory Capital carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Competitive Landscape

Franklin Resources BEN announced preliminary AUM by its subsidiaries of $693.1 billion for October 2019. Results display marginal increase from the $692.6 billion recorded as of Sep 30, 2019. Slight net outflows were offset by net market gains. Further, the reported figure inched up 1.5% year on year.

Cohen & Steers CNS reported preliminary AUM of $72 billion as of Oct 31, 2019, up 1.6% from the prior-month level. Market appreciation of $967 million and net inflows of $333 million were partly offset by distributions of $186 million.

Invesco’s IVZ preliminary October-end AUM of $1,195.2 billion inched up 0.9% from the prior month. This upswing stemmed from favorable market returns, and reinvested distributions. Also, favorable foreign-exchange movement boosted the month’s AUM by $5 billion. These were partly offset by outflows in long-term AUM, money market, and non-management fee earning AUM.

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Invesco Ltd. (IVZ) : Free Stock Analysis Report
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Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report
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