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Invesco's (IVZ) July AUM Rises on Higher Money Market Assets

Zacks Equity Research

Invesco IVZ has announced its assets under management (AUM) for July 2019. The company's preliminary month-end AUM of $1,198.7 billion increased slightly from the prior month.

The rise was mainly driven by non-management fee earning AUM inflows, favorable market returns, increase in money market AUM and reinvested distributions. These were partly offset by net long-term outflows. Also, foreign-exchange movement lowered the month's AUM by $4.6 billion.  

Invesco's preliminary average total AUM through Jul 31 was $1,202.8 billion while preliminary average active AUM totaled $929.7 billion.

At the end of the month, the company's Equity AUM decreased marginally to $572.9 billion from June. Also, Alternatives AUM declined 1.2% to $187.6 billion.

However, Balanced AUM and Fixed Income AUM for July were $64.7 billion and $274.3 billion, increasing nearly 1% and 0.3%, respectively. Also, Money Market AUM of $99.2 billion grew 3.7% sequentially.

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

The stock has lost 4.1% so far this year against 10.7% 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 $709.5 billion for July. Results display nearly 1% decrease from the $715.2 billion recorded as of Jun 30, 2019. Modest net outflows mainly led to this downside. Also, the figure fell 3.3% year on year.

Cohen & Steers CNS reported preliminary AUM of $63.1 billion as of Jul 31, 2019, up 1.2% from the prior-month. Market appreciation of $794 million and net inflows of $255 million were partly offset by a conversion of $119 million from certain institutional accounts to model-based portfolios (excluded from AUM) and distributions of $181 million.

AllianceBernstein AB announced preliminary AUM of $585 billion for July 2019, up 0.7% from last month. The increase was driven by to market appreciation and net inflows.

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