Invesco (IVZ) April AUM Down on Unfavorable Market, Outflows
Invesco IVZ announced preliminary assets under management (“AUM”) for April 2022. The company’s month-end AUM of $1,476.1 billion represented a 5.1% decline from the prior month-end’s levels.
Invesco recorded net long-term inflows of $1.3 billion. Non-management fee-earning net outflows were $1.4 billion and money market net inflows were $15.2 billion. Foreign exchange rate movements dented the AUM balance by $13.2 billion.
For the month, the company’s AUM was negatively impacted by unfavorable market returns, declining $79 billion. Reinvested distributions increased AUM by $0.1 billion.
Invesco’s preliminary average total AUM in the quarter through Apr 30 was $1,519.8.9 billion and its preliminary average active AUM was $1,023.6 billion.
At the end of April, IVZ’s Equity AUM was $703.6 billion, plunging 9.8% from the previous month’s levels. Balanced AUM for January was $73.6 billion, falling 7.4% from March 2022-end. Fixed Income AUM of $313.2 billion was down 3.3%.
Alternatives AUM fell marginally to $209.7 billion. Money Market AUM rose 7.6% from the prior month-end to $176 billion.
Invesco’s strong global presence and solid AUM balance position it well for growth. IVZ’s diverse product offerings and alternative investment strategies are expected to continue attracting investors. However, elevated expense level is a major near-term concern for the company.
So far this year, shares of Invesco have declined 23.3% compared with a 29.3% decline of the industry.
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Currently, Invesco carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Franklin Resources, Inc. BEN announced its preliminary AUM for April 2022. BEN's month-end AUM of $1,455.8 billion marked a 1.5% decline from the previous month’s tally.
Franklin's AUM was affected by the negative impacts of the markets and long-term net outflows. This was partly offset by the acquisition of Lexington Partners.
Cohen & Steers CNS reported a preliminary AUM of $98 billion as of Apr 30, 2022, which suggests a decline of 4% from the prior-month’s levels. Market depreciation of $3.9 billion and distributions of $188 million were partially offset by net inflows of $3 million.
CNS recorded total institutional accounts of $38.9 billion at the end of April, down 5.1% from the March-end level. Of the total institutional accounts, advisory accounts were $22.5 billion, while the rest were sub-advisory.
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