Asset Managers Fall 31 Percent
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Wednesday, December 19, 2018

Asset Managers Fall 31 Percent

Asset managers' rough year continues.

Frank E. Holmes
U.S. Global
CEO, Chief Investment Officer
So far this month, the S&P 500 has fallen 7.75 percent, the Dow 7.29 percent, and the Nasdaq has 7.46 percent. 22 publicly traded asset managers suffered an average share price drop of 11.51 percent this month.

Year-to-date, though the overall market picture is better, it's even worse for asset managers. Shares in those 22 publicly traded asset managers are down an average of 31.45 percent this year, compared to single drops in the three aforementioned indices: the S&P 500 is down 4.77 percent, the Dow 4.22 percent, and the Nasdaq 1.73 percent.

Eight of those 22 publicly traded asset managers have seen their shares dip less than 10 percent this month. Only one, Manning & Napier, is down less than five percent in December. Year-to-date, AB is the sole asset manager whose shares have actually gone up in price; all the rest have seen double digit percentage losses.

Here's the full list, from smallest to biggest sufferers year-to-date:

AB, down 14.66 percent this month-to-date, but up 2.91 percent YTD;

T. Rowe Price, down 8.62 percent MTD, down 13.47 percent YTD;

Fiera Capital, down 7.68 percent MTD, down 18.62 percent YTD;

Waddell & Reed, down 11.3 percent MTD, down 19.16 percent YTD;

Victory, down 23.51 percent MTD, down 19.22 percent YTD (since IPOing on February 8);

Diamond Hill, down 8.15 percent MTD, down 25.2 percent YTD;

BlackRock, down 10.43 percent MTD, down 25.38 percent YTD;

Cohen & Steers, down 7.25 percent MTD, down 26.73 percent YTD;

Federated, down 5.74 percent MTD, down 30.82 percent YTD;

Franklin Templeton, down 11.6 percent MTD, down 30.86 percent YTD;

Virtus, down 18.39 percent MTD, down 32.61 percent YTD;

Hennessy, down 7.62 percent MTD, down 36.22 percent YTD;

Eaton Vance, down 14.56 percent MTD, down 38.29 percent YTD;

Legg Mason, down 12.43 percent MTD, down 38.29 percent YTD;

Gamco, down 17.67 percent MTD, down 40.13 percent YTD;

Artisan, down 15.5 percent MTD, down 41.75 percent YTD;

Janus Henderson, down 15.51 percent MTD, down 48.33 percent YTD;

WisdomTree, down 8.89 percent MTD, down 48.53 percent YTD;

Manning & Napier, down 1.12 percent MTD, down 51.11 percent YTD;

AMG, down 13.86 percent MTD, down 53.36 percent YTD;

Invesco, down 16.61 percent MTD, down 53.56 percent YTD; and

U.S. Global Investors, down 14.55 percent MTD, down 75.24 percent YTD.

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