Welcome to our dedicated page for Victory Capital news (Ticker: VCTR), a resource for investors and traders seeking the latest updates and insights on Victory Capital stock.
Victory Capital Holdings, Inc. reports developments in investment management, client assets and fund distribution. The company provides specialized strategies for institutions, intermediaries, retirement platforms and individual investors through mutual funds, VictoryShares exchange traded funds, separate accounts, variable insurance products, alternative investments, private closed-end funds and a 529 education savings plan.
Recurring news includes monthly total client assets and assets under management by region and product category, quarterly revenue and earnings releases, long-term gross and net flows, money market and short-term flows, and updates on ETF demand, international distribution and acquisition strategy.
Victory Capital (NASDAQ: VCTR) has announced exclusive agreements with Nasdaq and Hashdex Ltd. to enter the cryptocurrency market. The company will sponsor private placement funds for U.S. investors based on the Nasdaq Crypto Index, which was co-developed with Hashdex. Plans include launching a private fund that tracks the NCI and additional private funds linked to the Bitcoin and Ethereum Price Indices. This initiative aims to meet growing institutional interest in digital assets and provide investors with diversified exposure in the evolving crypto market.
Victory Capital Holdings reported assets under management (AUM) of $157.1 billion as of April 30, 2021. A recent transition with an institutional client resulted in positive long-term net flows. The company announced a new $15 million share repurchase plan, emphasizing its strong financial position and ongoing capital allocation strategy, which prioritizes debt reduction while returning capital to shareholders. The completion of a prior repurchase authorization of $15 million was also noted.
Victory Capital reported strong Q1 2021 results with revenue of $212.9 million, a 4% increase year-over-year and a 6% rise from Q4 2020. The company achieved a record net income of $65.2 million, or $0.88 per share. Assets Under Management (AUM) grew by $7.1 billion to reach $154.3 billion, bolstered by positive market actions and an acquisition. The Board declared a quarterly cash dividend of $0.12 per share, a 33% increase from Q4 2020. Leverage ratio improved to 1.6x, and the company successfully reduced its debt costs.
Victory Capital Holdings (NASDAQ: VCTR) announced a scholarship program in collaboration with Xavier University of Louisiana (XULA) to support students in investment management. The program allocates $50,000 for gap scholarships for the 2021-2022 academic year, targeting students in financial need, particularly those in the Post-911 GI Bill’s Yellow Ribbon Program. Additionally, $50,000 will fund an Investment Club at XULA, enabling hands-on investment learning. This initiative aims to promote diversity and prepare students for careers in finance while reinforcing Victory Capital's commitment to social equity.
Victory Capital Holdings (NASDAQ: VCTR) reported a significant increase in assets under management (AUM), reaching $154.3 billion as of March 31, 2021. This growth stems partly from the acquisition of THB Asset Management, contributing $547 million in transferred assets. The company offers a diverse range of investment strategies through its nine autonomous Investment Franchises, focusing on mutual funds, separately managed accounts, and ETFs. A conference call to discuss first-quarter 2021 financial results is scheduled for May 7, 2021.
Victory Capital Holdings, Inc. (NASDAQ: VCTR) announced it received three 2021 US Refinitiv Lipper Fund Awards for risk-adjusted returns as of November 30, 2020. The awards recognize the Victory High Yield Fund (top fund in the High Yield category over five years) and the Victory Floating Rate Fund (top in Loan Participation over three and five years). This achievement underscores Victory Capital's commitment to delivering strong long-term returns. As of February 28, 2021, the company manages $150.6 billion in assets.
Victory Capital Holdings reported assets under management (AUM) of $150.6 billion as of February 28, 2021. This figure reflects a robust asset base, showcasing the firm's diversified investment strategies including mutual funds, ETFs, and separate accounts. AUM increased from $146.2 billion on January 31, 2021. The company employs a next-generation business model, combining boutique investment qualities with a centralized platform to serve various investors, including institutions and individuals.
Victory Capital Holdings (NASDAQ: VCTR) announced that Alderwood Capital LLP has received authorization from the UK Financial Conduct Authority and is now launched for institutional investors. Victory Capital's investment in Alderwood marks its entry into private vehicles and illiquid assets, promising strategic opportunities and potential attractive returns due to favorable fee rates. The company manages $146.2 billion in assets and offers diverse investment strategies through its nine autonomous franchises.
Victory Capital Holdings has successfully completed the acquisition of certain assets from THB Asset Management, enhancing its investment capabilities. THB, managing approximately $555 million in equity assets, focuses on U.S. micro-cap, small-cap, mid-cap, and international strategies. This acquisition marks Victory Capital's 10th investment franchise and emphasizes the company's commitment to socially responsible investing. With a strong performance track record, THB's strategies have outperformed benchmarks over one, three, and five-year periods. This strategic move is expected to bolster Victory's growth and offshore distribution opportunities.
Victory Capital Holdings (NASDAQ: VCTR) announced a repricing of its existing $756 million Term Loan, lowering the interest rate spread by 25 basis points to 2.25% over LIBOR, maintaining a maturity date of July 1, 2026. This marks a total reduction of 100 basis points since the loan's origination in July 2019. The company cites increased free cash flow and a reduced leverage ratio as factors contributing to this repricing, facilitating further capital allocation for growth and shareholder returns. S&P Global Ratings previously revised the credit outlook to positive.