Victory Capital Holdings reported total assets under management (AUM) of $289.4 billion and total client assets of $293.1 billion as of May 31, 2025. These figures represent a continued increase from the $279.3 billion in AUM and $282.8 billion in total client assets reported at the end of April 2025, following the Amundi acquisition.
The company provided an update on its second-quarter guidance, projecting a consolidated fee rate realization in the range of 46 to 47 basis points for Q2 and beyond. This adjustment is primarily due to aligning accounting policies for Pioneer Fund Administration reimbursements and Broker Dealer commissions, which will now be shown on a net basis.
Management clarified that this change in accounting treatment for fee rate realization is not expected to impact EBITDA or EBITDA margin. The total amount of net expense synergies from the Amundi acquisition and the timeline for their realization remain unchanged, reinforcing the expected profitability benefits of the deal.
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