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Invesco’s (IVZ) August AUM Increases on Source Acquisition


Invesco Ltd. IVZ announced an increase in its preliminary month-end assets under management (AUM) for August 2017. The company’s AUM came in at $906.7 billion, a rise of 3.4% from $876.9 billion in the prior month.

The rise reflected the Source acquisition (closed on Aug 18), favorable market returns, an increase in Money Market AUM, net long-term inflows and inflows in PowerShares QQQs. However, FX lowered August AUM by $2 billion. Notably, excluding the acquisition, AUM inched up 0.4% from July.

Invesco’s preliminary average total AUM for the quarter through Aug 31 was $878.9 billion while preliminary average active AUM was $713.3 billion.

At the end of the reported month, Invesco’s Equity AUM grew 2.7% from the prior month to $408.2 billion. Also, Money Market AUM was $81.6 billion, up marginally from the last month.

Further, Fixed Income AUM of $223.2 billion jumped 5.5% from July 2017 level. Additionally, Balanced AUM came in at $54.4 billion, increasing 1.5% from July 2017. Alternatives AUM surged4.9% from the preceding month to $139.3 billion.

While the company is witnessing a rise in AUM, an overall challenging operating environment seems to be weighing on investors’ mind. So far this year, shares of Invesco have gained 7.2%, underperforming the industry’s rally of 18.2%.

Apart from Invesco, another investment manager, Franklin Resources, Inc. BEN declared preliminary AUM of $747.4 billion by its subsidiaries for August 2017, a 1% decline from the prior month. Also, Legg Mason, Inc. LM recorded a marginal dip in August AUM of $752.4 billion. Further, T. Rowe Price Group, Inc. TROW is likely to come out with its monthly AUM figures in the coming days.

Currently, Invesco carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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