Victory Capital Reports $313B in Client Assets, Faces First-Quarter Outflows
Event summary
- Victory Capital reported $313.1B in total client assets as of March 31, 2026, down from $327.1B in February.
- Long-term AUM net flows were negative $457M for the first quarter of 2026.
- Average total AUM for March was $315.3B, with average total client assets at $318.5B.
- The largest declines were seen in U.S. Large Cap Equity ($59.8B vs. $63.4B) and Global/Non-U.S. Equity ($31.5B vs. $34.2B).
- Victory Capital will report first-quarter 2026 financial results on May 6, 2026.
The big picture
Victory Capital's first-quarter outflows highlight the challenges faced by asset managers in a volatile market. The decline in U.S. and Global Equity assets suggests shifting investor preferences, potentially towards safer havens or alternative investments. The firm's ability to pivot its strategy and stabilize flows will be critical in maintaining its position in the competitive asset management landscape.
What we're watching
- Flow Dynamics
- Whether Victory Capital can reverse negative net flows in the coming quarters, particularly in U.S. Large Cap and Global/Non-U.S. Equity segments.
- Market Conditions
- How broader market volatility will impact client asset retention and new inflows.
- Strategic Adjustments
- The pace at which Victory Capital adapts its investment strategies to mitigate outflows and attract new clients.
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