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Invesco September AUM Up 1.2% on Higher Money Market Assets


Invesco Ltd. IVZ announced an increase in its preliminary month-end assets under management (AUM) for September 2017. The company’s AUM came in at $917.5 billion, a rise of 1.2% from $906.7 billion in the prior month.

The rise reflected favorable market returns, an increase in Money Market AUM and net long-term inflows, partially offset by outflows in PowerShares QQQs. Moreover, FX increased September AUM by $3.5 billion.

Invesco’s preliminary average total AUM for the quarter through Sep 30 was $890.8 billion, while preliminary average active AUM was $717 billion.

At the end of the reported month, Invesco’s Equity AUM grew nearly 2% from the prior month to $416.2 billion. Also, Money Market AUM was $81.9 billion, increasing marginally from last month.

Further, Fixed Income AUM of $224.5 billion increased nearly 1% from the August 2017 level. Additionally, Alternatives AUM grew 1% from the preceding month to $140.7 billion. However, balanced AUM came in at $54.2 billion, decreasing marginally from August 2017.

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 18.9%, underperforming the industry’s rally of 24.7%.

Apart from Invesco, another investment manager, Franklin Resources, Inc. BEN declared preliminary AUM of $753.2 billion by its subsidiaries for September 2017, reflecting an increase of 1% from the prior month. Legg Mason, Inc. LM and T. Rowe Price Group, Inc. TROW are likely to come up with their monthly AUM figures in the coming days.

Currently, Invesco 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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