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Invesco’s (IVZ) September AUM Slips 0.1% on Net Outflows


Invesco Ltd. IVZ announced its preliminary month-end assets under management (“AUM”) for Sep 2016. The company’s AUM came in at $820.2 billion, a fall of 0.1% from $821.0 billion recorded in the prior month.

This decline stemmed from lower money market AUM and outflows in PowerShares QQQ. Further, there was an unfavorable foreign exchange impact of $0.3 billion. However, these negatives were partly offset by favorable market returns and net long-term inflows.

Additionally, Invesco’s preliminary average total AUM for the quarter through Sep 30 was $814.1 billion, while preliminary average active AUM was $673.1 billion.

At the end of September, Invesco’s total Equity AUM fell 0.5% from the prior month to $365.3 billion. Further, money market AUM was recorded at $77.2 billion, down 3.7% from the preceding month.

Nonetheless, Fixed Income AUM was $207.0 billion, up nearly 1% from $205.0 billion at the end of Aug 2016. Additionally, Balanced AUM came in at $48.9 billion, up 0.4% from $48.7 billion recorded in Aug 2016. Also, Alternatives AUM rose 1.4% from the preceding month to $121.8 billion.

Apart from Invesco, another investment manager, Franklin Resources Inc. BEN, declared preliminary AUM of $733.3 billion by its subsidiaries for Sep 2016, a 0.9% decline from the prior month. Notably, Legg Mason, Inc. LM is expected to release preliminary AUM results for Sep 2016 later this week.

Currently, Invesco carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A similarly ranked asset manager is Apollo Global Management, LLC APO. Shares of the company have gained nearly 14% over the past six months. Further, the Zacks Consensus Estimate for the stock has increased by 1.8% over the past 30 days, for 2016.

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