Virtus Investment Partners (VRTS) Tuesday reported preliminary assets under management of $141.41 billion as of Sept. 30, down from $147.50 billion at the end of August, amid market performance and net outflows across several investment products.
Total client assets stood at $143 billion, including $1.6 billion in other fee-earning assets, it said.
Preliminary average AUM for Q3 was $149.5 billion, it added.
The company said it also expects a $7 billion institutional subadvisory mandate to terminate in October, with a comparatively smaller impact on revenue.
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