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Rating:Asset Managers Slip As the NYSE Circuit Breaker Trips Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 9, 2020

Asset Managers Slip As the NYSE Circuit Breaker Trips

Reported by Neil Anderson, Managing Editor

It's been a rough couple of weeks for Mister Market, what with the coronavirus and oil price swings, and publicly traded asset managers continue to feel the burn.

Martin L. Flanagan
Invesco
President and CEO
The S&P 500 fell 7.6 percent today: the market fell so fast in the opening minutes this morning that the NYSE's circuit breaker triggered, halting all trading for 15 minutes. (It was the first such triggering since December 2008.) 20 publicly traded U.S. asset managers tracked by MFWire saw their shares fall an average of 7.7 percent today. They're down an average of 11.7 percent so far this month (while the S&P 500 is down 7.03 percent), 19.1 percent since the end of January (14.8 percent for the S&P 500), and 18.1 percent year-to-date (15 percent for the S&P 500).

Here are each of the 20 asset managers, ranked by their year-to-date share price performance:

  • Invesco (IVZ, $5.133 billion market cap), down 34.4 percent year-to-date, 31.9 percent since January 31, 19.5 percent this month, and 11.7 percent today;

  • WisdomTree (WETF, $490.827 million market cap), down 32 percent YTD, 21.8 percent since January 31, 19.5 percent this month, and 13.7 percent today;

  • Federated Hermes (FHI), down 29.9 percent YTD, 37 percent since January 31, 20.9 percent this month, and 13.9 percent today;

  • Eaton Vance (EV, $3.806 billion market cap), down 27.7 percent YTD, 26.8 percent since January 31, 18.8 percent this month, and 13.1 percent today;

  • Victory (VCTR, $1.049 billion market cap), down 26.1 percent YTD, 25.7 percent since January 31, 21.6 percent this month, and 13.8 percent today;

  • Affiliated Managers Group (AMG, $2.989 billion market cap), down 26 percent YTD, 21.5 percent since January 31, 17 percent this month, and 11.4 percent today;

  • Virtus (VRTS, $619.128 million market cap), down 26 percent YTD, 27.1 percent since January 31, 18.8 percent this month, and 11.9 percent today;

  • Franklin Resources (dba Franklin Templeton) (BEN, $9.484 billion market cap), down 24.9 percent YTD, 22.9 percent since January 31, 10.4 percent this month, and 9.9 percent today;

  • Gamco (GBL, $410.716 million market cap), down 24.2 percent YTD, 10.7 percent since January 31, and 5 percent this month, and up 4.9 percent today;

  • Ivy parent Waddell & Reed (WDR, $877.612 million market cap), down 23.9 percent YTD, 21.5 percent since January 31, 8.9 percent this month, and 7.5 percent today;

  • U.S. Global Investors (GROW, $14.825 million market cap), down 23.3 percent YTD and 15.8 percent since January 31, up 1.9 percent this month and 3.8 percent today;

  • Artisan (APAM, $1.891 billion market cap), down 23 percent YTD, 25.5 percent since January 31, 15.9 percent this month, and 7.4 percent today;

  • Diamond Hill (DHIL, $375.768 million market cap), down 18.7 percent YTD, 18.9 percent since January 31, 9.9 percent this month, and 4.9 percent today;

  • BlackRock (BLK, $62.231 billion market cap), down 16.6 percent YTD, 20.5 percent since January 31, 8.8 percent this month, and 7 percent today;

  • T. Rowe Price (TROW, $24.463 billion market cap), down 14.9 percent YTD, 22.4 percent since January 31, 12.2 percent this month, and 11.2 percent today;

  • Manning & Napier (MN, $23.392 million market cap), down 11.7 percent YTD, 20 percent since January 31, 6.2 percent this month, and 4.4 percent today;

  • Cohen & Steers (CNS, $2.765 billion market cap), down 7.2 percent YTD, 21.3 percent since January 31, 7.6 percent this month, and 9.8 percent today;

  • AllianceBernstein (AB, $2.737 billion market cap), down 5.6 percent YTD, 12.7 percent since January 31, 8.3 percent this month, and 8.6 percent today;

  • Hennessy (HNNA, $71.506 million market cap), down 2.6 percent YTD, 3.5 percent since January 31, 4.5 percent this month, and 2.1 percent today; and

  • Legg Mason (LM, $4.258 billion market cap), up 36.4 percent YTD and 25.1 percent since January 31, down 1.7 percent this month and 1.5 percent today. (Legg Mason is being acquired, hence its divergence from the pack.) 

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