At year-end 2009, Virtus Investment Partners
found it's mutual fund AUM up over both the quarter and year, but revenue fell from the fourth quarter of 2008.
Virtus experienced net inflows of $351.2 million in mutual fund sales in the fourth quarter, 41 percent higher than the quarter prior. With gross fund sales of $2.8 billion in 2009, net inflows totaled $525.5 million for the year. Those flows are exceptionally better than in 2008, when Virtus experienced an outflow of over $960 million.
Virtus' overall AUM increased by 12 percent, from $22.6 to $25.4 billion, over the same period.
Fourth quarter revenue in 2009 was down 4 percent compared to 2008, from $34.8 million to $33.3 million. Between the third and fourth quarter 2009, however, revenue increased 10 percent, from $30.4 to $33.3 billion.
A full earnings report is available
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