Virtus Investment Partners, Inc. (VRTS) is an investment management company that provides a range of services to both institutional and individual investors. The company offers investment management and related services through a multi-manager, multi-style approach, collaborating with various investment managers to provide diverse investment strategies. VRTS sells a broad array of investment products, including institutional and retail offerings, distributed through multiple channels.
- Investment Management Fees - Represents the largest source of revenue, offering asset-based fees for investment management services.
- Administration and Shareholder Service Fees - Provides administrative and shareholder services associated with the company's investment products.
- Distribution and Service Fees - Involves fees related to the distribution and servicing of investment products.
- Other Income and Fees - Includes miscellaneous income and fees from various sources.
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- In Q1 you noted a shift in fee rate dynamics, particularly with U.S. retail funds experiencing a lower fee rate relative to ETFs; can you elaborate on the factors driving this mix change and how you plan to maintain your targeted fee rate range of 41 to 42 basis points going forward?
- With the soft closing of the SMID-Cap Core strategy, could you quantify the impact this has had on overall flows and detail whether you expect similar capacity constraints to affect other SMA offerings in the near term?
- You increased share repurchases significantly in Q1 amid market headwinds; how are you balancing returning capital to shareholders with preserving liquidity for growth investments under ongoing market volatility?
- Seasonal employment expenses contributed notably to margin pressure in Q1; what specific steps will you take to better manage this expense volatility in future quarters to ensure more consistent operating margins?
- You disclosed that the tax asset has an NPV of approximately $112 million (around $16 per share) translating to a $2.50 per share annual EPS impact; can you clarify the timeline and strategic approach for fully monetizing this deferred tax asset under current market conditions?
Recent press releases and 8-K filings for VRTS.
Virtus Investment Partners Reports Preliminary June 30, 2025 AUM
$VRTSDemand Weakening
- Virtus Investment Partners reported preliminary Assets Under Management (AUM) of $170.7 billion and total client assets of $172.5 billion as of June 30, 2025.
- The increase in AUM from March 31, 2025, reflects market performance and positive net flows in exchange-traded funds.
- This increase was partially offset by net outflows in institutional accounts, U.S. retail funds, retail separate accounts, and global funds.
- As of June 30, 2025, the largest product type was Institutional Accounts with $57,131 million in AUM, and the largest asset class was Equity with $96,232 million in AUM.
Jul 11, 2025, 11:00 AM