Invesco (IVZ) Shares Gain 1.3% on Stable November AUM
Shares of Invesco Ltd. IVZ gained 1.3% in a day’s trading on Thursday, following the release of its preliminary month-end assets under management (“AUM”) for Nov 2015 on Wednesday, Dec 9. The company’s AUM came in at $791.1 billion, relatively unchanged from $791.3 million recorded in the prior month.
Notably, unfavorable impact of foreign exchange led to a $2.9-billion fall in AUM, partly offset by positive long-term flows.
Further, Invesco’s preliminary average total AUM for the quarter through Nov 30 was $785.3 billion, while preliminary average active AUM stood at $646 billion.
At November-end, Invesco’s total Equity AUM edged up 0.3% from the prior month to $380 billion. Fixed Income AUM came in at $189.6 billion, up 0.7% from $188.2 billion at the end of Oct 2015. However, Invesco’s money market AUM was recorded at $69.5 billion, decreasing 1.6% from the preceding month.
Additionally, Balanced AUM came in at $49.6 billion, down 1.6% from $50.4 billion recorded in Oct 2015. Alternatives AUM inched down 0.7% from the previous month to $93 billion.
Apart from Invesco, another investment manager, Franklin Resources Inc. BEN, declared preliminary AUM of $790 billion by its subsidiaries for Nov 2015, a 2% fall from the prior month. Further, Legg Mason, Inc. LM reported preliminary AUM of $691.4.0 billion as of Nov 30, 2015, down 0.8% from the preceding month.
Currently, Invesco carries a Zacks Rank #3 (Hold). A better-ranked asset manager is Woori Bank Co., Ltd. WF, holding a Zacks Rank #2 (Buy).
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