Advertisement

Virtus Investment (VRTS) April AUM Up 4.4% on Upbeat Markets

Virtus Investment Partners, Inc. VRTS recorded improvement in preliminary assets under management (AUM) balance for April 2021 on favorable markets. The total AUM of $176.2 billion reflects a 4.4% increase from $168.9 billion recorded on Mar 31, 2021.

Additionally, Virtus Investment provided services to $3.8 billion of other fee-earning assets. These are not included in above-mentioned AUM balance.

At April-end, Virtus Investment’s Open-End Funds balance grew 3.7% from March-end to $74.8 billion. Exchange Traded Funds and Retail Separate Accounts balances of $1.1 billion and $39.8 billion grew 11% and 6.7%, respectively, from the prior month.

Further, Institutional Accounts balance jumped 4.4% to $44.7 billion. Also, Closed-End Funds balance increased 3.1% sequentially to $12 billion.

However, Structured Products balance fell 3.5% to $3.8 billion at April-end.

Sound positioning of Virtus Investment’s integrated multi-boutique business model in a rapidly growing industry and effectiveness of the distribution platform might keep supporting its performance.

Shares of Virtus Investment have jumped 45% over the past six months, outperforming the industry’s rally of 34.4%.



Currently, Virtus Investment carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Cohen & Steers CNS reported preliminary AUM of $92.8 billion as of Apr 30, 2021, which reflected an increase of 6.7% from the prior-month level. Net inflows of $821 million and market appreciation of $5.2 billion were partially offset by distributions of $200 million.

Franklin Resources BEN reported preliminary AUM of $1529.3 billion for April 2021. This reflected 2% rise from the $1498.9 billion recorded as of Mar 31, 2021.

Invesco’s IVZ AUM balance for April 2021 was $1,459 billion, which represented an increase of 3.9% from the prior month. The rise was largely driven by favorable market returns and total net inflows. Moreover, FX increased AUM by $3 billion.

Zacks Top 10 Stocks for 2021

In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?

Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

Access Zacks Top 10 Stocks for 2021 today >>


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

Invesco Ltd. (IVZ) : Free Stock Analysis Report

Cohen & Steers Inc (CNS) : Free Stock Analysis Report

Virtus Investment Partners, Inc. (VRTS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research