Virtus Investment Partners Inc (FRA:VIP)
€ 187 1 (0.54%) Market Cap: 1.32 Bil Enterprise Value: 3.01 Bil PE Ratio: 13.88 PB Ratio: 1.69 GF Score: 29/100
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Q2 2024 Virtus Investment Partners Inc Earnings Call Transcript

Jul 26, 2024 / 02:00PM GMT
Release Date Price: €226 (+3.67%)

Key Points

Positve
  • Growth in strategic areas including retail separate accounts, ETFs, and global funds.
  • Higher earnings and operating margin both sequentially and over the prior-year period.
  • Attractive investment performance across various strategies.
  • Continued return of capital through share repurchases and dividends.
  • Modest level of leverage and meaningful capital flexibility.
Negative
  • Net outflows in US retail funds and institutional segments.
  • Total assets under management decreased by 3% to $174 billion.
  • Sales of $6.1 billion declined from the strong first quarter.
  • Institutional net outflows of $1.7 billion due to client rebalancing.
  • Open-end fund net outflows of $1.3 billion compared with $0.6 billion in the first quarter.
Operator

Good morning. My name is Deedee, and I will be your conference operator today. I would like to welcome everyone to the Virtus Investment Partners quarterly conference call. The slide presentation for this call is available in the Investor Relations section of the Virtus website, www.virtus.com. This call is being recorded and will be available for replay on the Virtus' website. (Operator Instructions)

I will now turn the conference to your host, Sean Rourke.

Sean Rourke
Virtus Investment Partners Inc - Vice President - Investor Relations

Thank you, and good morning, everyone. On behalf of Virtus Investment Partners, I'd like to welcome you to the discussion of our operating and financial results for the second quarter of 2024. Our speakers today are George Aylward, President and CEO; and Mike Angerthal, Chief Financial Officer. Following their prepared remarks, we'll have a Q&A period.

Before we begin, please note the disclosures on page 2 of the slide presentation. Certain

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