Victory Capital (VCTR) Sees 3% Sequential Rise in February AUM
Victory Capital Holdings, Inc. VCTR reported assets under management (AUM) of $164.9 billion for February 2024. This reflected a 2.9% rise from $160.2 billion as of Jan 31, 2024.
By asset class, VCTR’s U.S. Mid Cap Equity AUM grew 4.4% from the January level to $31.3 billion. The U.S. Small Cap Equity AUM of $15.7 billion increased 3%. The Global/Non-U.S. Equity AUM rose 3.4% to $17.1 billion. The U.S. Large Cap Equity AUM improved 5.5% to $13.5 billion.
Also, Victory Capital recorded $56.4 billion in Solutions, up 3.2% from January 2024. Money Market/Short-Term assets rose 1.1% from January 2024 to $3.3 billion. However, the Alternative Investments asset balance declined 1% on a sequential basis to $3.4 billion. Fixed Income AUM was $24.2 billion, which declined marginally from the prior month.
The sound positioning of VCTR'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 near term.
VCTR shares have gained 16.9% over the past six months compared with the industry's growth of 22.5%.
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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 a preliminary AUM of $79.6 billion as of Feb 29, 2024. This reflected a marginal rise from the prior month's level.
The increase in CNS’s AUM was due to market appreciation of $1.2 billion, partly offset by net outflows of $683 million and distributions of $155 million.
Cohen & Steers recorded total institutional accounts of $31.5 billion at the end of February 2024, falling 1.5% from the January 2024-end level. Of the total institutional accounts, advisory accounts were $17.4 billion, while the rest were sub-advisory.
Invesco IVZ announced a preliminary AUM of $1,630.9 billion for February 2024, reflecting a 3% rise from the previous month-end.
IVZ delivered net long-term inflows of $1.8 billion in the month. Non-management fee-earning net inflows were $1.9 billion and money market net inflows were $3.5 billion. IVZ’s AUM was positively impacted by favorable market returns, which increased AUM by $42 billion. FX decreased AUM by $2.6 billion.
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