HARTFORD - Virtus Investment Partners, Inc. (NASDAQ:VRTS), a distinguished partnership of boutique investment managers, has reported an increase in its preliminary assets under management (AUM) to $172.3 billion as of December 31, 2023. This marks a rise from the $162.5 billion reported at the end of the third quarter on September 30, 2023.
The growth in AUM can be mainly attributed to positive market performance and net inflows in retail separate accounts. However, this was partially offset by net outflows from open-end funds and institutional accounts. Virtus also noted that it provides services to an additional $2.6 billion of other fee-earning assets, which are not counted within the AUM.
A closer look at the numbers reveals that open-end funds experienced an increase from $54.1 billion at the end of September to $56.1 billion by year-end. Retail separate accounts saw a significant rise from $38.7 billion to $43.2 billion in the same period. Institutional accounts also grew, albeit at a slower pace, from $60.3 billion to nearly $63 billion.
By asset class, equity holdings showed the most substantial increase, climbing from $88 billion in September to $96.7 billion at the end of December. Fixed income assets remained relatively stable, and multi-asset strategies saw a moderate increase. Alternative investments experienced a slight decrease in AUM.
This financial update is based on a press release statement.
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