Victory Capital Holdings (VCTR – Free Report) announced assets under management (AUM) by its subsidiaries of $132.5 billion for July 2020. The results reflect a 2.7% rise from $129.1 billion recorded as of Jun 30, 2020.
At July-end, the company’s U.S. Mid Cap Equity AUM grew 2.3% from June-end to $23 billion. U.S. Small Cap Equity and Global/Non-U.S. Equity AUM of $14.1 billion and $11.7 billion increased 0.4% and 5.2%, respectively. Further, U.S. Large Cap Equity AUM rose 5.2% from June to $13.2 billion.
Victory Capital recorded $30.5 billion in Solutions, up 4.1% from $29.3 billion reported in June. Other assets increased 7.2% to $209 million on a sequential basis. Also, Fixed Income assets were $36.1 billion, which rose 1.4% from the prior month.
Sound positioning of Victory Capital’s integrated multi-boutique business model in a rapidly evolving industry and effectiveness of the distribution platform might keep supporting its performance.
Shares of the company have gained 16.4% over the past year, outperforming the industry’s 15.1% rally.
Currently, Victory Capital carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
AllianceBernstein’s (AB – Free Report) preliminary month-end AUM of $623 billion for July 2020 increased 3.8% from the prior month. Market appreciation and total firm-wide net inflows primarily drove the rise.
Cohen & Steers (CNS – Free Report) reported preliminary AUM of $70.1 billion as of Jul 31, 2020, which increased 5.7% from the prior-month level. Market appreciation of $2.7 billion and net inflows of $1.3 billion were partially offset by distributions of $209 million.
Invesco’s (IVZ – Free Report) preliminary month-end AUM of $1,195.3 billion for July 2020 represents a 4.4% increase from the previous month. The rise was driven by favorable market returns, which boosted AUM by $38 billion. Also, FX increased AUM by $7.3 billion.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
