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Invesco (IVZ) December AUM Stable on Inflows & Favorable FX


Invesco Ltd. IVZ reported preliminary month-end assets under management (AUM) of $937.6 billion for December 2017. The figure reflects no change from the prior month.

The AUM benefitted from net long-term inflows. Also, FX increased December AUM by $1.1 billion. However, these were offset by a decline in money market AUM, PowerShares QQQs outflows and unfavorable market returns.

Invesco’s preliminary average total AUM for the quarter through Dec 31 was $930.3 billion, while preliminary average active AUM was $733.7 billion.

At the end of the reported month, Invesco’s Equity AUM grew marginally from the prior month to $431.2 billion. Further, Fixed Income AUM of $225.8 billion increased only slightly from the November 2017 level.

Balanced AUM came in at $57.7 billion, rising 1.6% from the prior month. Also, Alternatives AUM increased 1% from the preceding month to $144.2 billion. However, Money Market AUM was $78.7 billion, decreasing 4.7% from the last month.

While continuous growth in AUM is likely to keep supporting the company’s revenue growth, an overall challenging operating environment seems to be weighing on investors’ mind. In the past year, shares of Invesco have gained 18.5%, underperforming the industry’s rally of 33.7%.

Apart from Invesco, another investment manager, Franklin Resources, Inc. BEN declared preliminary AUM of $753.8 billion by its subsidiaries for December 2017, reflecting a slight rise 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 #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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