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.
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Franklin Resources, Inc. (BEN) : Free Stock Analysis Report
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