Virtus Investment Partners, Inc. has recently released its 10-K report, providing a detailed look into the company's financial performance and operations. The firm, founded in 1995 and based in Hartford, Connecticut, is a publicly owned investment manager that primarily provides services to individual and institutional clients. Virtus Investment Partners offers a multi-manager, multi-style approach, with investment strategies in various asset classes, geographies, market capitalizations, styles, and investment approaches.
In the 10-K report, Virtus Investment Partners disclosed its financial highlights for the year 2024. The firm reported total revenues of $906.9 million, marking a 7.3% increase from the previous year's total revenues of $845.3 million. Operating income also saw a significant rise, reaching $182.5 million in 2024, a 20.5% increase from the $151.5 million reported in 2023. However, net income per diluted share experienced a slight decrease of 4.6%, amounting to $16.89 in 2024 compared to $17.71 in 2023.
The report also provided insights into the firm's assets under management (AUM). Total sales for 2024 were $26.8 billion, showing a 3.5% increase from the previous year's $25.9 billion. However, net flows were reported at $(10.4) billion in 2024, compared to $(7.2) billion in 2023. As of December 31, 2024, the total AUM stood at $175.0 billion, representing a 1.6% increase from December 31, 2023.
Assets under management were further broken down by product, with open-end funds at $56,073 million, closed-end funds at $10,225 million, retail separate accounts at $49,536 million, and institutional accounts at $59,167 million. The firm's assets under management by asset class were reported as follows: $100,792 million in equity, $37,696 million in fixed income, $21,174 million in multi-asset, and $15,339 million in alternatives.
The report also provided details on investment performance, with percentages of assets under management exceeding their relevant benchmarks as of December 31, 2024. The firm reported that 25% of equity assets, 81% of fixed income assets, and 54% of alternative assets exceeded their benchmarks over a one-year period.
Virtus Investment Partners' 10-K report offers a comprehensive look into the firm's financial performance, assets under management, and investment strategies, providing valuable insights for investors and industry analysts. Following these announcements, the company's shares moved 1.6%, and are now trading at a price of $186.21. For the full picture, make sure to review Virtus Investment's 10-K report.
