Time New York: Fri 19 Oct 14:47 pm  |  Save 15% on H&R Block Online


Invesco (IVZ) October AUM Up on Higher Money Market Assets


Invesco Ltd. IVZ announced an increase in its preliminary month-end assets under management (AUM) for October 2017. The company’s AUM came in at $928.4 billion, a rise of 1.2% from the prior month.

The rise reflected favorable market returns, inflows in PowerShares QQQs and an increase in Money Market AUM, partially offset by net long-term outflows. Also, FX lowered October AUM by $2.8 billion.

Invesco’s preliminary average total AUM for the quarter through Oct 31 was $922.4 billion, while preliminary average active AUM was $729.6 billion.

At the end of the reported month, Invesco’s Equity AUM grew 1.7% from the prior month to $423.4 billion. Also, Money Market AUM was $84 billion, increasing 2.6% from last month.

Further, Fixed Income AUM of $225.3 billion increased marginally from the September 2017 level. Additionally, Balanced AUM came in at $55.2 billion, rising 1.8% from the prior month. However, Alternatives AUM fell marginally from the preceding month to $140.5 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 17%, underperforming the industry’s rally of 26%.

Apart from Invesco, another investment manager, Franklin Resources, Inc. BEN declared preliminary AUM of $750.7 billion by its subsidiaries for October 2017, reflecting a slight decline 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.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

Click here for the 6 trades >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.