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Invesco (IVZ) July AUM Up 2.2% on Higher Money Market Assets


Invesco Ltd. IVZ announced an increase in its preliminary month-end assets under management (AUM) for Jul 2017. The company’s AUM came in at $876.9 billion, up 2.2% from $858.3 billion in the prior month.

The rise reflected favorable market returns, higher Money Market AUM and net long-term inflows, partly offset by outflows in PowerShares QQQs. Further, FX increased July AUM by $3.7 billion.

Invesco’s preliminary average total AUM for the quarter through Jul 31 was $869.4 billion while preliminary average active AUM was $709.5 billion.

At the end of the reported month, Invesco’s Equity AUM grew 1.6% from the prior month to $397.6 billion. Also, Money Market AUM was $81.3 billion, jumping 6.8% from the prior month.

Further, Fixed Income AUM of $211.6 billion rose 1.3% from Jun 2017 level. Additionally, Balanced AUM came in at $53.6 billion, jumping 2.7% from Jun 2017. Alternatives AUM rose 2.2% from the preceding month to $132.8 billion.

While the company is witnessing a rise in AUM, an overall challenging operating environment seems to be weighing on the investors’ mind. So far this year, shares of Invesco have gained 13.9%, underperforming the industry’s rally of 19.7%.

Apart from Invesco, another investment manager, Franklin Resources, Inc. BEN declared preliminary AUM of $752.7 billion by its subsidiaries for Jul 2017, a 1.3% rise from the prior month. Further, Legg Mason, Inc. LM is likely to come out with its monthly AUM figures in the coming days.

Currently, Invesco carries a Zacks Rank #3 (Hold).

A better-ranked stock in the same space is Ameriprise Financial, Inc. AMP. The company’s shares have risen 17.3% over the last six months. The Zacks Consensus Estimate for the company for the current year was revised nearly 4% upward, in the last 30 days. The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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