Virtus AUM Dips to $149B Amid Retail Outflows, ETF Gains — Virtus Investment Partners, Inc.

Event summary

Virtus reported $149.0B AUM as of March 31, 2026, down from $159.5B at year-end 2025.
Net outflows in retail separate accounts ($5.7B), institutional accounts ($4.7B), and U.S. retail funds ($3.1B) were partially offset by ETF and global fund inflows.
Preliminary average AUM for Q1 2026 was $158.2B, reflecting market volatility and client behavior shifts.
The decline was partially mitigated by the $2.3B AUM contribution from the March 2026 acquisition of Keystone National Group.

The big picture

Virtus's AUM decline reflects broader industry challenges in retail asset management, where investors are increasingly favoring passive strategies and ETFs over active management. The firm's ability to pivot toward higher-growth product categories like ETFs and global funds will be critical in maintaining its competitive position. The Keystone acquisition suggests a strategic focus on expanding alternative asset offerings, but integration risks remain a key variable.

What we're watching

Flow Dynamics: Whether Virtus can stabilize retail outflows amid persistent market volatility.
ETF Growth: The pace at which ETF inflows can offset declines in other product categories.
Integration Risk: How effectively Virtus integrates Keystone National Group's AUM into its existing platform.