greater cover be turn Mike call Financial After Relations. our the Chief which quarter of conference half call. Dennis, Director to that, I year. in the start the earnings President, to XXXX detail. of overview I’m our I’ll Matt Chief Administrative Good by strong. Matt. second well Staff by providing to an first and and today and over review morning, Michael results today continues Capital’s of Then Thanks, our performance, will Officer, Investor financial as investment to Policarpo, will Victory the welcome joined I quarter as and
your questions. to The I X. Mike, begins Following on Slide will quarterly Matt remarks, be overview and our business take available prepared
public part the employees and adjusted markets margin our Despite backdrop, operating due margin an the The XX% of of adjusted in for EBITDA was consecutive half century. than first of guidance our more XXXX exceptionally We it. challenging eighth in half for long-term business leading well performed to our exceeded half period and the model a worst first we the achieved first of the XX.X% stellar year. have quarter EBITDA half this during
in and invest We to our quarter. lower this continue despite revenue initiatives AUM growth
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Volatility Our our for example ticker CDC, ETF symbol ETF Weighted XX its of quarters which automatically Victory for Income many One seven increases to and shares attractive unique volatility, allocation is that past months. to good a investors. feature our flows U.S. have is high of during the consecutive been positive of the Equity straight Enhanced cash periods ETFs,
Our Market the Neutral be Net flows. to Income of which It platforms, ways added to asset long-term to with distribution it. net industry-leading number a positive in first generate Fund, a clients to continues ticker symbol access billion new CBHIX were provides year. of broader positive also the $X.X flows continues half
negative million. $XXX Second quarter flows approximately were at slightly net long-term negative
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to our constructive, diligence conduct remains In make that strategy. environment are also growth on initiatives, addition M&A growth The deals. we continuing to multiple prospective organic to and continuing to support on investments inorganic continuing our are we execute
of product that ample We on wide in structure deals execute to financial capacity a range have and vary size, set.
last fee as where a remains where or investors aspect acquisition Our will decade. the start that executing the should has a the do. we know the progress. investor I right potentially can we impede The We itself, look current with one make clear, Every To will view assets on continues for presents a not a better allocating transaction focus we here have must fair are do the make and potential that good we believe for same a today. at work us given direct it business strategic earn what environment us will company. be be to on
net Our in the XXX period. experienced education savings plan second flows positive and again year-to-date the quarter
through current the opportunity investor’s a us These we conversations engagements objectives During to communication market portfolio tolerance uptick and the well channels. offer review. learn of number about investor an as give risk conditions, the in as saw of types our each
the cost plans. dollar establishment the also of and averaging We of are investment potential investors automatic able to encourage about benefits educate
Turning to Slide X.
see can quarter year. continued of performance strong our You investment throughout second the the
active of significant managers occur, generate periods providing opportunities to attractive can mispricing During for alpha. market volatility,
end and our first end and Over overall had fund Morningstar. of XX% This or funds during AUM, mutual and the rating funds the XX times, mutual from of have from up June, XX% ETF period this five-star with and is of be excelled XX the of a our franchises end these the is March four we proving the years, up different. At no ETFs quarter. represents to from at at
X. Slide to Turning
inorganically our plans organically As allocation are capital earlier, and or strategy. changes to invest in any we mentioned our in our making I in not business
repurchases dynamic shareholders capital cash disclosed to reducing debt allocated in second this through $XX first year. press of to release, million of to this than One the $XX shareholders Since we dividends. to quarter quarter. and environment returned repaying the a Mike should year-to-date in that, million, as another will increased to million quarter’s the $XX the given this financials. all of and continue amount flow I on turn returned and repurchases, to via This more we XX% returned in and we June, capital yesterday’s return dividends, highlight will our we’re million we is returned any $XXX share excess our total of June. opportunistic shareholders strong quarter to Mike? the point share other reduced more in debt We would history capital end pay for to we year, beginning This and over repurchases We in majority shareholders our it be flow share [ph] million. programs. well cash different our which With in the flexibility the paydown than details I through debt approximates during generate of And flexibility down the higher XXXX. between the through debt, our the like of of the which bode for of is $XX of our of have quarter debt Post market
