Q1 2025 Virtus Investment Partners Inc Earnings Call Transcript
Key Points
- Virtus Investment Partners Inc (VRTS) reported higher earnings per share compared to the prior year period.
- The company experienced increased sales in fixed income strategies across products.
- Positive net flows were recorded in ETFs, with an organic growth rate of 73% over the past year.
- Over 70% of equity strategies outperformed their benchmarks in the first quarter, showcasing strong investment performance.
- Virtus Investment Partners Inc (VRTS) was recognized by Barron's as the number two fund family for the 10-year period and third in the taxable bond category for 2024.
- The company faced market performance volatility, leading to lower assets under management and net outflows.
- Total net outflows were $3 billion, although improved from $4.8 billion in the previous quarter.
- Retail separate accounts experienced net outflows, largely due to the soft closing of a mid-cap core equity model offering.
- Open-end fund net outflows of $1.1 billion were unchanged sequentially, driven by equity strategies.
- The operating margin as adjusted decreased to 27.6% from 35.1% in the fourth quarter, impacted by seasonal employment expenses.
Good morning. My name is [Dei], 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.
Thanks, TD, 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 first quarter of 2025.
Our speakers today are George Aylward, President and CEO, and Michael 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
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