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Victory Capital (VCTR) June AUM Up 10% on High Equity Assets

Zacks Equity Research

Victory Capital Holdings VCTR has announced assets under management (AUM) by its subsidiaries of $64.1 billion for June 2019. Results display a 10% increase from the $58.1 billion recorded as of Mar 31, 2019. 

At the end of June, Victory Capital’s U.S. Mid Cap Equity AUM increased 9.1% from March-end to $24.2 billion. Also, U.S. Small Cap Equity and Global / Non-U.S. Equity rose 3.8% and 5%, respectively. However, U.S. Large Cap Equity AUM declined slightly from March to $4.1 billion.

Fixed Income assets were $7.3 billion, up around 4.7% from March.Victory Capital recorded $6.9 billion in Solutions, which was up 73.1% from $4 billion reported in previous quarter end.

Commodity assets came in at $335 million, down 32% from the prior-quarter figure of $493 million. However, Other assets were up 2.6% to $436 million.

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 around 73% over the past six months compared with 15.7% growth 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 has announced preliminary AUM by its subsidiaries of $715.2 billion for June 2019. Results display a 2.9% increase from the $695 billion recorded as of May 31, 2019. Strong market gains, partly offset by modest net outflows led to this upside. However, the figure edged down 1.2% year on year.

Cohen & Steers CNS has reported preliminary AUM of $62.4 billion as of Jun 30, 2019, down nearly 1% from the prior-month level of $62.9 billion. Market appreciation of $1.3 billion was more than offset by net outflows of $215 million, a conversion of $753 million from certain institutional accounts to model-based portfolios (excluded from AUM) and distributions of $867 million.

Invesco IVZ announced preliminary June-end AUM of $1,197.8 billion, up 3.3% from the prior month. The increase was driven by favorable market returns, foreign exchange, non-management fee earning AUM inflows, and reinvested distributions, partially offset by net long-term outflows and lower money market AUM.

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