Virtus Investment Partners Reports Preliminary September 30, 2023 Assets Under Management Of $162.5M
Portfolio Pulse from Benzinga Newsdesk
Virtus Investment Partners, Inc. (NASDAQ:VRTS) reported preliminary assets under management of $162.5 billion as of September 30, 2023, a decrease from June 30, 2023. The decrease is attributed to market depreciation and net outflows in open-end funds and institutional accounts, partially offset by net inflows in retail separate accounts. The company also provided services to $2.5 billion of other fee-earning assets, not included in assets under management.
October 10, 2023 | 8:24 pm
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Virtus Investment Partners reported a decrease in assets under management, which could potentially impact investor sentiment and the company's stock price.
A decrease in assets under management can be seen as a negative signal by investors, as it may indicate a decrease in revenue from management fees. This could potentially lead to a decrease in the company's stock price.
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