Virtus Investment Partners Sees Growth in Assets Under Management
Virtus Investment Partners Reports Strong Asset Growth
HARTFORD, Conn. – Virtus Investment Partners, Inc. (NYSE: VRTS) has announced impressive preliminary assets under management (AUM) totaling $180.5 billion as of August 31, 2024. This figure includes an additional $2.6 billion in other fee-earning assets, culminating in total client assets of $183.1 billion. This growth is primarily driven by favorable market conditions and positive net flows in retail separate accounts, although the firm has experienced some net outflows in institutional accounts and open-end funds. The average AUM for the month stood at an encouraging $175.6 billion.
Key Highlights of AUM Performance
The growth in AUM reflects the dedication of Virtus Investment Partners toward meeting its clients' investment needs. The detailed breakdown of assets under management showcases the product types and asset classes driving this increase, revealing valuable insights into market trends and client preferences.
Breakdown by Product Type
The following table outlines the AUM by different product types:
- Open-End Funds: Increased to $57,236 million from $56,774 million.
- Closed-End Funds: Grew from $10,208 million to $10,435 million.
- Retail Separate Accounts: Increased from $48,017 million to $48,993 million.
- Institutional Accounts: Slight growth from $63,094 million to $63,816 million.
This diversification in their product offerings allows Virtus to cater to a wide range of investors, enhancing their market competitiveness.
Assets by Asset Class
The following highlights the distribution of AUM by asset class:
- Equity: Rose to $104,778 million from $102,869 million.
- Fixed Income: Increased slightly to $38,052 million from $37,404 million.
- Multi-Asset: Maintained around $21,319 million compared to $21,351 million.
- Alternatives: Increased modestly from $16,469 million to $16,331 million.
This structured approach in managing asset classes proves effective for adapting to shifting market conditions and investor preferences.
About Virtus Investment Partners
Virtus Investment Partners (NYSE: VRTS) is distinguished by its partnership of unique boutique investment managers. Their primary goal is to ensure the long-term success of both individual and institutional investors. By leveraging the distinct investment styles and autonomous processes of their affiliated managers and select subadvisers, Virtus offers a varied range of investment management products and services tailored to meet diverse investor needs. More information about Virtus Investment Partners, including their strategies and affiliated managers, can be accessed at virtus.com.
Frequently Asked Questions
What was the total AUM reported by Virtus Investment Partners?
The total AUM reported was $180.5 billion, with an additional $2.6 billion in other fee-earning assets.
How did the AUM change from July to August 2024?
The AUM increased, primarily due to market performance and positive net flows in retail separate accounts.
What challenges did Virtus face regarding institutional accounts?
Despite overall growth, Virtus experienced some net outflows in institutional accounts and open-end funds.
What is the focus of Virtus Investment Partners?
Virtus aims to support long-term investment success for both individual and institutional clients through varied and well-structured product offerings.
Where can I find more information about Virtus Investment Partners?
You can visit their official website at virtus.com for more details about their investment strategies and affiliated managers.
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