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

Zacks

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.

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