Victory Capital (VCTR) August AUM Declines 2.4% to $161.86B
Victory Capital Holdings VCTR reported assets under management (AUM) of $161.86 billion for August 2023. This reflects a 2.4% decline from the $165.87 billion reported as of Jul 31, 2023.
By asset classes, at the end of August, VCTR’s U.S. Mid Cap Equity AUM fell 4% from the July level to $29.7 billion. The U.S. Small Cap Equity AUM of $15.7 billion declined around 4%. Further, the U.S. Large Cap Equity AUM increased 1.9% to $12.19 billion. The Global/Non-U.S. Equity AUM was up 3.4% to $15.4 billion.
Also, Victory Capital recorded $56.4 billion in Solutions, down 1.7% from July 2023. Fixed Income AUM was $25.8 billion, which declined 1.2% from the prior month. The Alternative Investment asset balance was down marginally on a sequential basis to $3.21 billion.
Nonetheless, Money Market/Short Term assets rose marginally from July 2023 to $3.19 billion.
The sound positioning of Victory Capital’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 coming days. Favorable market performance is another tailwind.
Shares of VCTR have gained 11.6% over the past six months compared with the industry's upside of 16.3%.
Image Source: Zacks Investment Research
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
Cohen & Steers, Inc. CNS reported a preliminary AUM of $80 billion as of Aug 31, 2023, which reflected a decline of 2.8% from the prior-month level. Market depreciation of $2.2 billion and distributions of $157 million were partly offset by net inflows of $12 million.
CNS recorded total institutional accounts of $33.5 billion at the end of August 2023, declining 2.7% from the July-end level. Of the total institutional accounts, advisory accounts were $19 billion, while the rest were sub-advisory.
Virtus Investment Partners, Inc. VRTS recorded a sequential decrease in its preliminary AUM balance for August 2023 on the back of unfavorable market returns. The company reported a month-end AUM of $169.4 billion, which reflected a fall of 1.5% from the Jul 31 level.
Excluded from the above-mentioned AUM balance, other fee-earning assets were $2.6 billion, to which Virtus Investment provided services.
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