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Invesco August AUM Down on Weak Market & Negative FX Movement


Invesco IVZ has announced its assets under management (AUM) for August 2019. The company’s preliminary month-end AUM of $1,175.1 billion decreased 2% from the prior month.

This decline primarily stemmed from net long-term outflows, reduced money market AUM, foreign exchange, non-management fee earning AUM outflows and unfavorable market returns. These were partly offset by reinvested distributions. Notably, unfavorable foreign-exchange movement reduced the month’s AUM by $2.2 billion.

Invesco’s preliminary average active AUM for August was $905.3 billion, while preliminary average passive AUM totaled $269.8 billion.

At the end of the reported month, the company’s Equity AUM decreased 3.6% from the prior month to $552.3 billion. Also, Alternatives AUM decreased slightly to $185.9 billion.

Balanced AUM and Money Market AUM for August were $63.5 billion and $96.7 billion, decreasing 1.9% and 2.5%, respectively. However, Fixed Income AUM of $276.7 billion increased slightly from the prior month.

Though strategic acquisitions and expanding global presence augur well for the company’s prospects, decrease in overall AUM is a concern.

Shares of the company have gained around 5% year to date compared with 14.4% growth recorded by the industry.

Currently, Invesco carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Franklin Resources BEN also announced preliminary AUM by its subsidiaries of $690.6 billion for August. Results display 2.7% decrease from the $709.5 billion recorded as of Jul 31, 2019. Slight net outflows and net market declines led to this downside. Further, the reported figure went down 4.4% year on year.

Cohen & Steers CNS reported preliminary AUM of $69.6 billion as of Aug 31, 2019, up 3% from the prior-month level of $67.5 billion. Market appreciation of $2 billion and net inflows of $240 million were partly offset by distributions of $186 million.

T. Rowe Price Group, Inc. TROW is expected to report its monthly numbers soon.

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