Virtus Investment Partners (VRTS) on Wednesday reported preliminary assets under management of $148.87 billion as of July 31, down from $152.16 billion at the end of June.

The investment manager also reported $1.7 billion in other fee-earning assets, bringing total client assets to $150.6 billion.

The month-over-month decline in AUM reflected market performance and net outflows across retail separate accounts, institutional accounts, US retail funds and global funds, the company said.

These outflows were partially offset by positive net flows in exchange-traded funds and tender offer funds, it added.