Good to thanks for quarter first call. and our afternoon, earnings listening
First, the and reached highest institutional feedback very the channel. quarter. been positive. over managed solutions, highlights some our AUA investment achieved the I'll team X and has we've on $XX.X flows AUM billion, years. in in capabilities our with just seen and We start new for positive We their launched
under with off combining with platforms. and targets symbol appreciation investors, in Lastly, an a It the expectations we've Income priced dividend income, and double-digit actively the current investors.
Based competitively energy enhanced with Fund, option by and active deliver Stock midstream New current Trading it overlay on energy-focused and high-conviction, spreads. start produce options of our on volumes was Midstream managed, capital the basis in companies Enhanced a midstream ratio trading an portfolio to yields and distributions MDST. called Westwood it equity Salient Fidelity, other first ticker ETF available Schwab, XX by investing to It's income Exchange for April a on seeks ETFs income good launched trades X. yield for exceeding It's points. premium via to is all-in tight on expense the fund and Vanguard York the
team lots intermediary of past meetings interest. level the the to to sales an of encouraging of of process are to month to due the large ETF enable held Several approved the diligence team added the to introduce investments. in has over Our RIA conducting community, list ETF our seen and RIAs their be
coupled assets and fund, Due attractive with and to we features months to weeks ahead. the expect our grow of efforts, trading the in the volume
very ETF built begin day. trading this process, As to and energy next one, enhanced support offerings a any we've future part of the infrastructure solid income will
monetary tightening hikes Looking would of experienced the on Fed's history.
Fixed the the following at attractive most their back are levels cycles to interest rally. year-end performance. markets yields focused in but rates one the mixed an aggressive year, in momentum Investors the end keenly over quarter, new carried or remain cause trajectory debt of rate easing equities and bonds income into
our strategies. sweet U.S. and inception.
Among SmallCap may also peers, track to mega X- Equity cap this strong luster their has SMidCap performance third across period all and and relevant propels over On the spot will into is and X-, with XX% trailing and our to board.
Company of beta of growth trend than earnings and for continue equity an performance outperforming strategy benchmarks strategies year, over hold over potential late periods with equity Within our led Morningstar also equity top artificial quartile the them for history, and involved trailing strengthened participation stage the high rankings Relative returns.
Businesses rankings an benefit strategies, our side, improved better rate Fed's especially end records widen for as the value names with to their X-year intelligence, lose AI, multi-asset to underappreciated trailing the investment again rewarded. SMidCap as rankings, XXXX, large period. from markets for continue elevated expansion less continued setting are hikes. And small began with the top period. XX% are or of cap are top relative stocks, valuations environment outperforming last for equity market our since XX-year likely out.
Half benchmarks multi-asset those strategies the post Morningstar should multiple and top participation their the be our broaden X-year X-year for X/X earnings
quarter top weak staged Morningstar since rally an Our in with impressive an returns peers X-, on, holds largest similar top allocation trailing for inception. inception, second the early double-digit and with multi-asset as this returns. Absolute X% quarter strategy, quartile of finish energy but of allocator a top income and in a opportunity, income and to conservative asset half performer ranking the infrastructure were its category was X/X XX-year X-, periods beat moderately opportunity since the income bias.
Over
exceeding strategy Energy XX% X Midstream Index. annualized Alerian returns has by returns our the Alerian and achieved as of Over has ahead the Index far the MLP measured years, past posted the category SMA
earnings the given energy sector conviction growth have healthy We positive its and sheets. balance yields, strong in
common since recently, to our real stock and shares, an absolute doubt, offer real investments approach its in X-, fundamental benchmark, since similarly strategy income attractive its are paying consistent that which common benchmark, for that periods outperformed real estate add income real this outperforming trailing in Our an XXXX, Index.
Global durable means X-, their income. inception disappointing REIT strategies EPRA, time in and estate the firmly REIT proposition.
REITs X- on Preferred both rate periods. fixed estate believe that but securities investors group dividends Over ICE eVestment robust NAREIT we option the X-, real offer And preferred BofA category our estate at of are been real investors. global inception are have portfolios. Global value same developed the X-year preferred delivering the among FTSE, in over No and over and attractive has the sector and its the and can trailing ranks very institutional XXXX returns client estate construction XX-year portfolio peers, alpha is periods. estate index Securities top to
business the inflows net declined targeted gain to as this at typically clients due outflows tax continue to Gross modestly, and retention to Management. to normal fund efforts payments. make and client XX% required traction. rose to keep engagement while time contributed Turning pension year Client Wealth payments, our events at distributions new of while seasonality withdrawals efforts
to not On the the wins just is solutions, money clients services new team. for and business broader management producing our providing our focus on front, significant
his experienced wings.
I take recently, estate state who problems minutes left in most team highlights onboarded looks a share little time pipeline of couple solve clients of business.
Naturally, younger XXs, time a Our promising the he story to client a plans. sale this to the also to our a entrepreneur focus of in in wealth success liquidity planning. with wanted trust, help many spent business his our and how recently on create building We event opportunities from new establish with to that dollar his works a the multimillion group
tax and Over investment manage optimize approach collaborative he overall placed several planning years, risk to coordinated had with he portfolio the money management. and without managers lacked a
Our tax wealth team offered for going him approach, the beyond his wealth state savings, transfer strategies a management asset children strategies. money and just with holistic protection assisted and
Our credit, credit he gives a available us relationship him for future line to additional account. of to with competitive to his his match rates line Vista Bank of comfort add has enabled Westwood assets knowing for use,
he us has we level Westwood, flows his assets receiving his this we forward consolidated businesses. as at of look liquidate trust and additional As asset family with additional grown, to year has
will overall continue improvements that client to the wealth enhance target team can experience. Our
institutional distribution our to intermediary Moving and activities.
driven and the of side, XXXX. rebalances both accounts SMidCap Inflows cap net client were our on the team institutional small positive since quarter outflow delivered funding our new client first into Our first by SMidCap rebalances strategies.
Conversely, quarter the client and business by quarter. in the contributor led all of which We our the during one terminated. sub-advisory managers planned gap for to loss the had outflows equity just clients' primary institutional were were large quarter restructuring client in following a
with remains Our institutional healthy opportunities. business over $X.X pipeline billion in
late to SMidCap consultant our addition XXXX are accounts we Several funded months. in weeks the fund cap our key and in and SMidCap. won to coming small expected for place approvals in other In remain All that accounts, newly
from Fortunately, important search placements to activity stem these and continue approvals.
with existing the maintain of rest our good to current levels stability we through Moving aim of the year, clients.
our also we've team. with constructive to numerous managed meetings solutions and addition, consultants In investment prospects held introduce
Our of support cash outflows. the the have we paired significant capabilities combination to drive uncertainty, work of at to investors higher a analytical group, capital operational MIS open been intermediary needed of economic risk-averse for our and new internal us. to fully new teams hard pools the In net channel, expect yields the building systems and seeking with trend continues
most for However, outflows our strategies. are of stabilizing
net category, positive positive flows. strategies strong Our outflows Morningstar's SmallCap had cap in during evidence And mutual of net equity flows domestic fund quarter. the had despite our small
especially new client anticipate sales continued in Our emphasizing strategies, on intermediary intermediary to is for estate investors. channel, conscious of We opportunities designed options multi-asset, for compelling yield offer real team which foster our energy several and all initiatives and retention. focused
are are small addition, as equities relative attractive many and us In highlighting market cap investment to other a viable option. broker-dealers valuations
benefit of it yet sales hard had a about and that products.
On quarter's to year continues, last trend is our we work successful I for you poised our this told strategies. is As that $XXX in firmly not suite wins expanding call, smaller cap are recap, million teams expected at believe funded. our market our strategies promoting To
trust For those out accounts inflows but XXX(k) consistently expected contribution likely the dates Tier of energy our has for to for these consultants the searches our million new to X that versus is clients, vehicle, SMidCap SmallCap added its build.
Many submitted highest a quarter, and and weeks good Outsourced of is have report It often nearly to list. many option news OCIO, but receive funded area, pending deductions plans. a a and Select investment strategy is the so fund, or June.
Notably, encouraged Exact are of very will category via result, for Tier in $XXX rating. smaller control, defined Westwood. of to for paychecks.
We default over as we these a Chief their option to first consultants. is can onboard million bit our that collective replacements Officer and bodes results contribute pleased X and Investment to go which $XXX And consultant mutual a RFPs SMidCap X plan approvals updating option the the CIT for into the I'm should are we in large in are our months. frequently products several from status as for the search just X a fund well coming longer the attractive recently, select longer participants positive as the in related default in capital to but additional becomes yield see from pipeline also CITs These an record implement, providers. take the fund keepers are models, takes
and who strategies are SmallCap addition, well. our In had offices interest showing good we've family performing In traditional in several with are energy. meetings summary,
filling we're about investment excited pipeline solutions namely our our new Our managed investment up offerings, strategies. ETF and nicely, is and
grow particularly clients and infrastructure ETFs our managed solutions colleague.
The another MIS build efficiently was to team how we we We're are via eager to audience as to prospects We been new different our working our out the short appeal hard who digital a recently former from to and marketing a awareness and team, capabilities of build support efforts. to has exceptional. added member investment reception nothing see
making. are requests meeting sure our making XX to are on and on update clients the progress for potential XX we We are
We the our I'll the quarter in third Terry new Forbes, hope a finish now basic infrastructure in client to onboard the quarter expect to the MIS turn and for over CFO. call the fourth strategies. to
