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Victory Capital's July AUM Edges Up to $299.8B on Equity Gains
ZACKS· 2025-08-12 17:16
Core Insights - Victory Capital Holdings, Inc. (VCTR) reported assets under management (AUM) of $299.8 billion for July 2025, reflecting a marginal increase from June 30, 2025 [1][8] - The U.S. mid-cap equity AUM increased by 1% to $31.9 billion, while U.S. small-cap equity AUM declined by 4.4% to $12.6 billion [1][8] - The global/non-U.S. equity AUM rose slightly to $25.8 billion, and U.S. large-cap equity AUM increased marginally to $62.3 billion [1][8] Asset Class Performance - Victory Capital recorded $80.8 billion in Solutions, up 1.1% from June 2025 [2] - Alternative investments asset balance increased slightly to $2.9 billion, while fixed-income AUM totaled $79.7 billion, showing a marginal decrease [2] - Money market/short-term assets rose by 2.3% to $3.7 billion [2] Business Model and Market Position - The strong positioning of VCTR's integrated multi-boutique business model in a fast-expanding market is expected to enhance its performance in the near term [3] Stock Performance - Over the past six months, VCTR shares have gained 3.7%, outperforming the industry's growth of 1.8% [4] Comparison with Other Asset Managers - Franklin Resources, Inc. (BEN) reported preliminary AUM of $1.62 trillion as of July 31, 2025, which increased slightly from the prior month [6] - Invesco (IVZ) reported AUM of $2,024.5 billion as of July 31, 2025, reflecting a 1.2% increase from the previous month [9]
Cohen & Steers(CNS) - 2025 Q2 - Earnings Call Presentation
2025-07-18 14:00
Assets Under Management (AUM) - Ending AUM increased to $88.9 billion as of June 30, 2025, compared to $87.6 billion as of March 31, 2025[2] - Average AUM for Q2 2025 was $87.2 billion, up from $86.8 billion in Q1 2025[2] - Market appreciation contributed $2.3 billion to AUM in Q2 2025, compared to $2.1 billion in Q1 2025[2] Flows - The company experienced net outflows of $131 million in Q2 2025, a shift from net inflows of $222 million in Q1 2025[2] - Open-end funds and closed-end funds saw net inflows, while advisory and subadvisory experienced net outflows[2] - Total firm net flows were -$0.1 billion in Q2 2025, representing an organic decay of -0.6%[18] Financial Performance (As Adjusted) - Net income was $37.3 million in Q2 2025, slightly lower than $38.4 million in Q1 2025[2] - Diluted EPS was $0.73 in Q2 2025, compared to $0.75 in Q1 2025[2] - Operating margin was 33.6% in Q2 2025, a decrease from 34.7% in Q1 2025[2] - Revenue reached $135.3 million in Q2 2025, compared to $133.8 million in Q1 2025[4] - Expenses totaled $89.9 million in Q2 2025, up from $87.3 million in Q1 2025[4] Revenue Breakdown (As Adjusted) - Open-end fund fees generated $69.9 million in revenue in Q2 2025[8] - Institutional fees contributed $32.8 million in revenue in Q2 2025[8] - Closed-end fund fees accounted for $24.9 million in revenue in Q2 2025[8] Expense Breakdown (As Adjusted) - Employee compensation and benefits amounted to $54.8 million in Q2 2025[11] - Distribution and service fees were $15.7 million in Q2 2025[11] - General and administrative expenses totaled $17.0 million in Q2 2025[11] Investment Performance - 94% of total AUM was in outperforming strategies over the 1-year period as of June 30, 2025[32] - 90% of total AUM was in outperforming strategies over the 10-year period as of June 30, 2025[32] - 96% of U S open-end fund AUM was rated 4 or 5 stars by Morningstar[32]
BlackRock's AUM Touches Record $12.53T as Q2 Earnings Top Estimates
ZACKS· 2025-07-16 13:06
Core Insights - BlackRock (BLK) has become the first asset manager to exceed $12 trillion in assets under management (AUM), reaching $12.53 trillion in Q2 2025, which significantly contributed to adjusted earnings of $12.05 per share, surpassing estimates by 13% and increasing 16% year-over-year [1][9] Financial Performance - Total revenues on a GAAP basis were $5.42 billion, reflecting a 13% year-over-year increase, although slightly below the consensus estimate of $5.43 billion [2][9] - Investment advisory and administration fees rose 15% to $4.28 billion, while technology services and subscription revenues surged 26% to $499 million; however, performance fees dropped 43% to $94 million [8][9] - Total expenses increased by 23% to $3.69 billion, primarily due to a 17% rise in employee compensation and benefits [10] AUM and Market Dynamics - The record AUM was driven by an 18% year-over-year increase, supported by strong U.S. stock market performance and robust net client inflows [3][9] - BlackRock experienced total net inflows of $68 billion in the quarter, with significant contributions from cash and money-market funds ($22 billion), digital asset ETFs ($14 billion), and alternative investments ($9.8 billion) [4] Client Activity - A notable withdrawal of $52 billion by a large Asian institutional client from a low-cost index strategy negatively impacted long-term net inflows, which decreased by 10% year-over-year to $46 billion [2][9]
Silvercrest Asset Management Group Inc. Reports Q1 2025 Results
Globenewswire· 2025-05-08 20:52
Core Insights - Silvercrest Asset Management Group Inc. reported strong new client organic flows of $0.4 billion in Q1 2025, following $1.4 billion in Q4 2024, indicating a positive trend in client acquisition and potential revenue growth [2][3] - Total Assets Under Management (AUM) decreased to $35.3 billion, down 3.3% from $36.5 billion at the end of 2024, primarily due to market depreciation [3][16] - The company declared a quarterly dividend of $0.20 per share, reflecting its commitment to returning capital to shareholders [7] Financial Performance - Revenue for Q1 2025 increased by $1.1 million, or 3.7%, to $31.4 million compared to $30.3 million in Q1 2024, driven by market appreciation [17] - Consolidated net income was $3.9 million for Q1 2025, down from $4.9 million in the same period last year, with net income attributable to Silvercrest at $2.5 million [19][20] - Adjusted EBITDA for Q1 2025 was $6.5 million, representing a margin of 20.7%, compared to $7.5 million and a margin of 24.6% in Q1 2024 [20][31] Assets Under Management - Total AUM as of March 31, 2025, was $35.3 billion, a 2.3% increase from $34.5 billion a year earlier, attributed to market appreciation of $0.8 billion [15][44] - Discretionary AUM remained flat at $22.7 billion year-over-year, while non-discretionary AUM increased by 6.8% to $12.6 billion [16][49] - The company experienced net client inflows of $0.2 billion, a significant improvement from a net outflow of $0.3 billion in the previous year [44] Strategic Initiatives - Silvercrest is focused on enhancing its presence in both institutional and wealth markets, investing in talent to drive growth and transition the business [4] - The company completed a $12.0 million stock repurchase program, indicating a strategy to return capital to shareholders while pursuing growth opportunities [6] - The firm plans to adjust its interim compensation ratio to align with business investments, reflecting a commitment to growth and return on invested capital [5]
F&G Annuities & Life Reports First Quarter 2025 Results
Prnewswire· 2025-05-07 20:15
Core Viewpoint - F&G Annuities & Life, Inc. reported a significant net loss of $25 million for Q1 2025, contrasting sharply with net earnings of $111 million in Q1 2024, primarily due to unfavorable mark-to-market effects and other items [2][3][12]. Financial Performance - Net loss attributable to common shareholders for Q1 2025 was $25 million, or $0.20 per diluted share, compared to net earnings of $111 million, or $0.88 per share, in Q1 2024 [2][12]. - Adjusted net earnings for Q1 2025 were $91 million, or $0.72 per share, down from $108 million, or $0.86 per share, in Q1 2024 [3][12]. - Total revenues for Q1 2025 were $908 million, a decrease from $1.569 billion in Q1 2024 [26]. Assets Under Management (AUM) - Record AUM before flow reinsurance reached $67.4 billion as of March 31, 2025, a 16% increase from $58.0 billion a year earlier [5][9][7]. - Retained AUM was $54.5 billion, reflecting a 9% increase from $49.8 billion in Q1 2024 [7][9]. Sales Performance - Gross sales for Q1 2025 were $2.9 billion, a decrease of 17% from $3.495 billion in Q1 2024 [8][9]. - Net sales were $2.2 billion, slightly down from $2.3 billion in the same quarter of the previous year [12][9]. Investment Portfolio - The investment portfolio maintained high credit quality, with 96% of fixed maturities rated as investment grade [5][9]. - Credit-related impairments remained low, averaging 6 basis points over the past five years and 2 basis points in Q1 2025 [9]. Capital and Liquidity - Total equity attributable to common shareholders, excluding AOCI, was $5.8 billion, or $43.31 per share, as of March 31, 2025 [14][25]. - The debt-to-capitalization ratio, excluding AOCI, was 26.7%, with a commitment to a long-term target of approximately 25% [16][14]. Strategic Initiatives - The company completed a public offering of 8 million shares of common stock in March 2025, generating nearly $269 million for general corporate purposes [21][9]. - F&G returned $30 million of capital to shareholders through common and preferred dividends in Q1 2025, compared to $26 million in Q1 2024 [16][9].
Victory Capital's February AUM Decreases 0.6% Sequentially to $175.5B
ZACKS· 2025-03-14 16:20
Group 1: Victory Capital Holdings, Inc. (VCTR) Performance - VCTR reported assets under management (AUM) of $175.5 billion for February 2025, reflecting a 0.6% decline from $176.5 billion as of January 31, 2024 [1] - U.S. mid cap equity AUM decreased 2.9% to $30.4 billion, while U.S. small cap equity AUM dipped 5.3% to $14.2 billion [1] - Global/non-U.S. equity AUM rose 5.8% to $20.6 billion, and U.S. large cap equity AUM decreased 3.7% to $13.9 billion [1] Group 2: Solutions and Alternative Investments - VCTR recorded $65.5 billion in Solutions, up 0.1% from January 2025 [2] - Alternative investments asset balance declined 2.6% to $2.9 billion, while fixed-income AUM was $24.4 billion, increasing marginally [2] - Money market/short-term assets rose 1.9% to $3.4 billion [2] Group 3: Market Positioning - VCTR's integrated multi-boutique business model and effective distribution platform are expected to enhance performance in the near term [3] Group 4: Performance of Other Asset Managers - Franklin Resources, Inc. (BEN) reported preliminary AUM of $1.58 trillion as of February 28, 2025, showing a marginal decrease [4] - BEN's decline in AUM was attributed to long-term net outflows of $10 billion, despite positive market impacts [4] - AllianceBernstein Holding L.P. (AB) announced preliminary AUM of $805 billion for February 2025, reflecting a marginal decrease [5] - AB's Equity AUM declined 2.6% to $333 billion, while Fixed-Income AUM increased 1.3% to $303 billion [5]