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Invesco June AUM Ascends on Market Gains & Positive FX Moves

Zacks Equity Research

Invesco IVZ has announced its assets under management (AUM) for June 2019. The company’s preliminary month-end AUM of $1,197.8 billion increased 3.3% from the prior month.

This growth primarily stemmed from foreign exchange, non-management fee earning AUM inflows, favorable market returns and reinvested distributions. These were partly offset by net long-term outflows and reduced money market AUM. Notably, favorable foreign-exchange movement boosted the month’s AUM by $2.9 billion.

Invesco’s preliminary average total AUM for the quarter through Jun 30 was $1,055.9 billion, while preliminary average active AUM totaled $795.9 billion.

At the end of the reported month, the company’s Equity AUM increased 5.8% sequentially to $574.6 billion. Also, Alternatives AUM increased slightly to $189.8 billion.

Balanced AUM and Fixed Income AUM for June were $64.1 billion and $273.6 billion, increasing 3.9% and 1.7%, respectively. However, Money Market AUM of $95.7 billion decreased slightly from the prior month.

Improving AUM balance, strategic acquisitions and increasing global presence augur well for the company’s prospects.

Shares of the company have gained around 16.4% over the last six months compared with 15.8% growth recorded by the industry.

Currently, Invesco carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Franklin Resources BEN has also announced preliminary AUM by its subsidiaries of $715.2 billion for June. Results display a 2.9% increase from the $695 billion recorded as of May 31, 2019. Strong market gains, partly offset by modest net outflows led to this upside. However, the figure edged down 1.2%, year on year.

Cohen & Steers CNS reported preliminary AUM of $62.4 billion as of Jun 30, 2019, down marginally from the prior-month level of $62.9 billion. Market appreciation of $1.3 billion was more than offset by net outflows of $215 million, along with distributions and conversions of $867 million and $753 million, respectively.

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

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Invesco Ltd. (IVZ) : Free Stock Analysis Report
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