Victory Capital (VCTR) January AUM Declines 1% to $165.5B
Victory Capital Holdings, Inc. VCTR reported assets under management (AUM) of $165.5 billion for January 2024. This reflected a 1% decline from $166.6 billion as of Dec 31, 2023.
By asset classes, at the end of January, VCTR’s U.S. Mid Cap Equity AUM was down 2% from the December level to nearly $30 billion. The U.S. Small Cap Equity AUM of $15.2 billion decreased 4.4%. The Global/Non-U.S. Equity AUM dipped 1.7% to $16.5 billion. Nonetheless, the U.S. Large Cap Equity AUM increased 1.3% to $12.8 billion.
Also, Victory Capital recorded $59.9 billion in Solutions, up 1% from December 2023. Money Market/Short-Term assets rose 1% from December 2023 to $3.3 billion. The Alternative Investment asset balance grew marginally on a sequential basis to $3.4 billion. However, Fixed Income AUM was $24.3 billion, which declined marginally from the prior month.
Sound positioning of VCTR's integrated multi-boutique business model in a rapidly evolving industry and effectiveness of the distribution platform are likely to support its performance in the near term.
Shares of VCTR have gained 16.5% over the past three months compared with the industry's growth of 21.6%.
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
Cohen & Steers, Inc. CNS reported preliminary AUM of $79.3 billion as of Jan 31, 2024. This reflected a decline of 4.6% from the prior month's level.
The decrease was due to a net outflow of $1.5 billion, a market depreciation of $2.2 billion and distributions of $157 million.
Franklin Resources, Inc. BEN reported preliminary month-end AUM of $1.60 trillion as of Jan 31, 2024. This reflected an increase of 9.6% from the prior-month level.
The increase was driven by the acquisition of Putnam Investments (closed on Jan 1). This was partly offset by modest long-term net outflows.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Franklin Resources, Inc. (BEN) : Free Stock Analysis Report
Cohen & Steers Inc (CNS) : Free Stock Analysis Report
Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report
