Invesco's (IVZ) November AUM Up on Favorable FX, Inflows
Invesco Ltd. IVZ announced an increase in its preliminary month-end assets under management (AUM) for November 2017. The company’s AUM came in at $937.6 billion, a rise of 1% from the prior month.
The rise reflected favorable market returns and inflows in PowerShares QQQs. Also, FX increased November AUM by $3.4 billion. However, these were partially offset by a decline in Money Market AUM and net long-term outflows.
Invesco’s preliminary average total AUM for the quarter through Nov 30 was $927.4 billion, while preliminary average active AUM was $731.9 billion.
At the end of the reported month, Invesco’s Equity AUM grew 1.5% from the prior month to $429.8 billion. Further, Fixed Income AUM of $225.6 billion increased marginally from the October 2017 level.
Additionally, Balanced AUM came in at $56.8 billion, rising 2.9% from the prior month. Also, Alternatives AUM increased 1.6% from the preceding month to $142.8 billion. However, Money Market AUM was $82.6 billion, decreasing 1.7% from last month.
While the company is witnessing a rise in AUM that will support revenue growth, an overall challenging operating environment seems to be weighing on investors’ mind. So far this year, shares of Invesco have gained 23.2%, underperforming the industry’s rally of 31.7%.
Apart from Invesco, another investment manager, Franklin Resources, Inc. BEN declared preliminary AUM of $753.2 billion by its subsidiaries for November 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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