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 has launched a new digital platform aimed at improving user experience for clients. The platform features a modern design, investment tools, and insights from experts. It offers secure account access, personalized chat, and educational resources, particularly for the military community. A new Investment Bonus Program incentivizes account referrals, rewarding participants with $100 for setting up automatic investments. Additionally, the company has expanded its investment offerings by adding a no-load Member Class to 11 existing funds, further diversifying investor options.
Victory Capital (NASDAQ: VCTR) reported record financial results for the quarter and nine months ending September 30, 2020. The company achieved significant growth with a revenue of $188.7 million, despite a 12% year-over-year decrease due to lower average AUM. GAAP net income rose 115% to $55.7 million. Victory Capital announced the acquisition of THB Asset Management, expanding its investment franchises. Also, a 17% increase in quarterly cash dividends and $15 million share repurchase program was introduced, alongside a debt reduction strategy that lowered the leverage ratio to 2.0x.
Victory Capital Holdings (NASDAQ: VCTR) has signed a definitive purchase agreement to acquire certain assets of THB Asset Management. The transaction, slated for early 2021, is expected to be immediately accretive to earnings. The THB investment team will join Victory Capital, maintaining their investment strategies and current operations. THB manages approximately $435 million in equity assets and has a strong performance track record. This acquisition aims to expand Victory Capital's market reach and enhance its investment offerings, particularly in socially responsible and sustainable investment strategies.
Victory Capital Holdings, Inc. (NASDAQ: VCTR) reported assets under management (AUM) of $132.7 billion as of September 30, 2020. This figure reflects a slight decrease from $136.8 billion recorded on August 31, 2020. Key asset classes include $35.8 billion in Fixed Income and $30.8 billion in Solutions. The Company will announce its third quarter 2020 financial results on November 4, 2020, followed by a conference call on November 5, 2020.