Victory Capital Reports April 2021 Assets Under Management
May 13 2021 - 4:30PM
Business Wire
Announces New $15 Million Share Repurchase
Plan
Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital”
or the “Company”) today reported assets under management (AUM) of
$157.1 billion as of April 30, 2021.
“In late April, we commenced an institutional mandate transition
with an existing institutional client that resulted in positive
long-term net flows,” said David Brown, Chairman and Chief
Executive Officer. “The transition entailed terminating a former
mandate during the final week in April, which was subsequently
replaced by a larger mandate, from the same client, during the
first part of May. As a result, only the termination is reflected
in April month-end AUM and the new larger mandate, which we are
currently managing, will be reflected in our May AUM disclosure. To
date, we remain long-term net flow positive for the second quarter,
and are optimistic about the improving momentum in our net
flows.”
Victory Capital Holdings, Inc.
and Subsidiaries
Assets Under
Management1
(unaudited; in
millions)
As of:
By Asset Class
April 30, 2021
March 31, 2021
Fixed Income
$
35,701
$
36,776
Solutions
35,677
35,356
U.S. Mid Cap Equity
30,577
29,156
U.S. Small Cap Equity
20,857
20,230
U.S. Large Cap Equity
15,108
14,448
Global / Non-U.S. Equity
15,490
14,652
Other
394
341
Total Long-Term Assets
$
153,804
$
150,958
Money Market / Short Term Assets
3,321
3,373
Total Assets Under Management
$
157,125
$
154,331
By Vehicle
Mutual Funds2
$
121,574
$
117,830
Separate Accounts and Other Pooled
Vehicles3
31,222
32,061
ETFs
4,328
4,441
Total Assets Under Management
$
157,125
$
154,331
1Due to rounding, numbers presented in
these tables may not add up precisely to the totals provided.
2Includes institutional and retail share
classes, money market and VIP funds.
3Includes collective trust funds, wrap
program accounts, UMAs, UCITS, private funds and non-U.S. domiciled
pooled vehicles.
New $15 Million Share Repurchase Plan
The Company also announced today that its Board of Directors
approved a new common stock repurchase program authorizing the
repurchase of up to $15 million of its Class A Common Stock through
December 31, 2022.
“Given our robust financial condition, we have been balancing
the return of capital to shareholders through share repurchases and
cash dividends,” Brown added. “Our capital allocation strategy
remains unchanged with the majority of excess cash flow being
allocated to debt reduction.”
The Company’s prior $15 million stock repurchase authorization,
initiated in November 2020, has been completed. Under the new
program, the Company may purchase its shares from time to time in
the open market or in privately negotiated transactions. The amount
and timing of the purchases will depend on a number of factors
including the price and availability of the Company's shares,
trading volume, capital availability, Company performance and
general economic and market conditions. The share repurchase
program may be suspended or discontinued at any time.
About Victory Capital
Victory Capital is a diversified global asset management firm
with $157.1 billion in assets under management as of April 30,
2021. The Company operates a next-generation business model
combining boutique investment qualities with the benefits of a
fully integrated, centralized operating and distribution
platform.
Victory Capital provides specialized investment strategies to
institutions, intermediaries, retirement platforms and individual
investors. With 10 autonomous Investment Franchises and a Solutions
Platform, Victory Capital offers a wide array of investment styles
and investment vehicles including, actively managed mutual funds,
separately managed accounts, active ETFs, multi-asset class
strategies, custom-designed solutions and a 529 College Savings
Plan.
For more information, please visit www.vcm.com or follow us:
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version on businesswire.com: https://www.businesswire.com/news/home/20210513005846/en/
Investors: Matthew Dennis, CFA Chief of Staff Director,
Investor Relations 216-898-2412 mdennis@vcm.com
Media: Tricia Ross 310-622-8226 tross@finprofiles.com
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