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Rating:The Pandemic Hasn't Dispelled Mister Market's Love of Fund Firms Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, March 12, 2021

The Pandemic Hasn't Dispelled Mister Market's Love of Fund Firms

Reported by Neil Anderson, Managing Editor

Despite the ongoing COVID-19 pandemic, mister market seems to be smiling on asset managers.

Frank E. Holmes
U.S. Global Investors, Inc.
CEO, Chief Investment Officer
Out of 18 publicly traded U.S. mutual fund firms tracked by MFWire, only two have seen their share prices drop since the end of 2019 (before the coronavirus crisis was in full swing), and 11 of those 18 have seen their share prices rise faster than the overall market's gains. (The S&P 500, as of market close yesterday, is up 21.93 percent since December 31, 2019.)

Fund firms' share gains so far in 2021 have been more modest, but they've still been mostly positive. Only two of those 18 firms have suffered share price declines in 2021, while 12 have seen their shares rise faster than the market. (The S&P 500 is up 4.88 percent year-to-date). And the trend continues in March, with only one fund firm seeing it share prices slip so far this month, and with 14 rising faster than the S&P 500's 3.36 percent gain.

Here are the 18 fund firms, in order of their share price gains since the end of 2019.

U.S. Global Investors (GROW) is up 400.14 percent since December 31, 2019 (including a 279.46-percent 2020 gain), up 31.8 percent year-to-date, up 2.58 percent so far in March, up 12.38 percent in the past week, and up 5.44 percent just yesterday. With AUM (as of December 31, 2020) of $3.5 billion, its $108.02-million market cap translates into about 3.1 percent of its AUM.

Manning and Napier (MN) is up 337.81 percent since 12/31/2019 (including a 264.07-percent 2020 gain), up 20.26 percent YTD, up 1.07 percent in March, down 0.66 percent in the past week, and up 2.45 percent yesterday. With AUM (as of 12/31/2020) of $20.1 billion, its $126.799-million market cap translates into about 0.6 percent of its AUM.

Virtus (VRTS) is up 115.29 percent since 12/31/2019 (including a 78.5-percent 2020 gain), up 20.61 percent YTD, up 3.89 percent in March, up 9.61 percent in the past week, and up 0.49 percent yesterday. With AUM (as of 12/31/2020) of $161.4 billion, its $1.977-billion market cap translates into about 1.2 percent of its AUM.

Affiliated Managers Group (AMG) is up 71.91 percent since 12/31/2019 (including a 20.47-percent 2020 gain), up 42.7 percent YTD, up 3.67 percent in March, up 7.46 percent in the past week, and up 3 percent yesterday. With AUM (as of 12/31/2020) of $716.2 billion, its $6.185-billion market cap translates into about 0.9 percent of its AUM.

Artisan Partners (APAM) is up 62.09 percent since 12/31/2019 (including a 57.32-percent 2020 gain), up 3.03 percent yTD, up 6.57 percent in March, up 9.9 percent in the past week, and down 0.14 percent yesterday. With AUM (as of 12/31/2020) of $157.8 billion, its $4.019-billion market cap translates into about 2.5 percent of its AUM.

Waddell & Reed (WDR), parent of Ivy, is up 53.01 percent since 12/31/2019 (including a 53.13-percent 2020 gain), down 0.08 percent YTD, up 0.44 percent in March, up 0.8 percent in the past week, and up 0.16 percent yesterday. With AUM (as of 12/31/2020) of $74.822 billion, its $1.567-billion market cap translates into about 2.1 percent of its AUM.

BlackRock (BLK) is up 43.65 percent since 12/31/2019 (including a 42.69-percent 2020 gain), up 0.67 percent YTD, up 4.59 percent in March, up 5.7 percent in the past week, and down 0.88 percent yesterday. With AUM (as of 12/31/2020) of $8.67668 trillion, its $110.22-billion market cap translates into about 1.3 percent of its AUM.

Invesco (IVZ) is up 43.27 percent since 12/31/2019 (including a 2.09-percent 2020 drop), up 46.33 percent YTD, up 12.98 percent in March, up 8.62 percent in the past week, and up 0.56 percent yesterday. With AUM (as of 12/31/2020) of $1.3499 billion, its $11.628-billion market cap translates into about 0.9 percent of its AUM.

T. Rowe Price (TROW) is up 42.93 percent since 12/31/2019 (including a 24.25-percent 2020 gain), up 15.03 percent YTD, up 7.41 percent in March, up 6.5 percent in the past week, and down 0.83 percent yesterday. With AUM (as of 12/31/2020) of $1.47 trillion, its $39.697-billion market cap translates into about 2.7 percent of its AUM.

AllianceBernstein (AB) is up 31.92 percent since 12/31/2019 (including an 11.41-percent 2020 gain), up 18.41 percent YTD, up 6.59 percent in March, up 6.88 percent in the past week, and up 0.44 percent yesterday. With AUM (as of 12/31/2020) of $686 billion, its $3.828-billion market cap translates into about 0.6 percent of its AUM.

WisdomTree (WETF) is up 25.86 percent since 12/31/2019 (including a 10.67-percent 2020 gain), up 13.72 percent YTD, up 14.15 percent in March, up 2.2 percent in the past week, and down 1.63 percent yesterday. With AUM (as of 12/31/2020) of $67.4 billion, its $906.387-million market cap translates into about 1.3 percent of its AUM.

Diamond Hill (DHIL) is up 21.74 percent since 12/31/2019 (including a 6.27-percent 2020 gain), up 14.56 percent YTD, up 20.55 percent in March, up 14.1 percent in the past week, and up 0.94 percent yesterday. With AUM (as of 12/31/2020) of $26.4 billion, its $540.432-million market cap translates into about 2 percent of its AUM.

Victory Capital (VCTR) is up 21.22 percent since 12/31/2019 (including an 18.31-percent 2020 gain), up 2.46 percent YTD, up 7.03 percent in March, up 7.53 percent in the past week, and up 0.28 percent yesterday. With AUM (as of 12/31/2020) of $147.2 billion, its $1.717-billion market cap translates into about 1.2 percent of its AUM.

Franklin Resources (dba Franklin Templeton) (BEN) is up 10.82 percent since 12/31/2019 (including a 3.81-percent 2020 drop), up 15.21 percent YTD, up 10.01 percent in March, up 12.37 percent in the past week, and up 0.59 percent yesterday. With AUM (as of 12/31/2020) of $1.498 trillion, its $14.551-billion market cap translates into about 1 percent of its AUM.

Gamco (GBL) is up 9.08 percent since 12/31/2019 (including an 8.98-percent 2020 drop), up 19.84 percent YTD, up 11.89 percent in March, up 11.43 percent in the past week, and up 1.29 percent yesterday. With AUM (as of 12/31/2020) of $32.6 billion, its $583.627-million market cap translates into about 1.8 percent of its AUM.

Cohen & Steers (CNS) is up 6.67 percent since 12/31/2019 (including an 18.29-percent 2020 gain), down 9.83 percent YTD, up 4.08 percent in March, up 3.08 percent in the past week, and down 0.64 percent yesterday. With AUM (as of 12/31/2020) of $79.9 billion, its $3.209-billion market cap translates into about 4 percent of its AUM.

Federated Hermes (FHI) is down 5.22 percent since 12/31/2019 (including a 12.21-percent 2020 drop), up 7.97 percent YTD, up 15.61 percent in March, up 7.82 percent in the past week, and down 1.47 percent yesterday. With AUM (as of 12/31/2020) of $619.4 billion, its $3.06-billion market cap translates into about 0.5 percent of its AUM.

Hennessy (HNNA) is down 14.47 percent since 12/31/2019 (including a 15.68-percent 2020 drop), up 1.43 percent YTD, down 0.12 percent in March, up 0.83 percent in the past week, and down 0.7 percent yesterday. With AUM (as of 12/31/2020) of $3.833 billion, its $62.225-million market cap translates into about 1.6 percent of its AUM. 

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