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Victory Capital (VCTR) August AUM Down on Lower Equity Assets


Victory Capital Holdings VCTR has announced assets under management (AUM) by its subsidiaries of $145 billion for August 2019. Results display a 1.9% decline from $147.8 billion recorded as of Jul 31, 2019.

At the end of August, Victory Capital’s U.S. Mid Cap Equity AUM decreased 3.3% from July-end to $25.2 billion. Also, U.S. Small Cap Equity and Global / Non-U.S. Equity declined 5.4% and 3.5%, respectively. Further, U.S. Large Cap Equity AUM decreased 3.5% from July to $13.5 billion.

However, Fixed Income assets were $37.9 billion, up around 1% from July. Nevertheless, Victory Capital recorded $29.4 billion in Solutions, which was down 1.3% from $29.8 billion reported in the previous month end.

Moreover, Other assets were down 22.3% to $258 million. Money Market Assets were $11.4 billion, down marginally from $11.5 billion at the end of July.

Despite the decline in assets during the reported month, the 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 its performance.

Shares of the company have gained 23.9% over the past six months compared with 0.6% growth recorded by the industry.

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

Franklin Resources BEN announced preliminary AUM by its subsidiaries of $690.6 billion for August. Results displayed a 2.7% decrease from $709.5 billion recorded as of Jul 31, 2019. Slight net outflows and net market declines led to this downside. Further, the reported figure went down 4.4% year on year.

Cohen & Steers CNS reported preliminary AUM of $69.6 billion as of Aug 31, 2019, up 3% from the prior-month level of $67.5 billion. Market appreciation of $2 billion and net inflows of $240 million were partly offset by distributions of $186 million.

Invesco’s IVZ preliminary August-end AUM of $1,175.1 billion decreased 2% from the prior month. The decline primarily stemmed from net long-term outflows, reduced money market AUM, foreign exchange, non-management fee earning AUM outflows and unfavorable market returns. These were partly offset by reinvested distributions. Notably, unfavorable foreign-exchange movement reduced the month’s AUM by $2.2 billion.

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