|Bid||15.56 x 2200|
|Ask||15.66 x 3200|
|Day's Range||15.36 - 15.74|
|52 Week Range||15.15 - 24.99|
|Beta (3Y Monthly)||1.29|
|PE Ratio (TTM)||10.82|
|Earnings Date||Oct 16, 2019 - Oct 21, 2019|
|Forward Dividend & Yield||1.24 (8.16%)|
|1y Target Est||21.64|
The former investment company of U.S. Commerce Secretary Wilbur Ross has been flourishing in China, even as he marshals billions of dollars' worth of punishing tariffs in America's deepening trade war. U.S. money manager Invesco Ltd - for which Ross was a senior executive from 2006 until he joined Trump's cabinet in February 2017 - has become the top foreign manager of Chinese money in China over the past year through its joint venture Invesco Great Wall Management, according to research firm Z-Ben Advisors, leaping ahead of Switzerland's UBS. It is an unlikely success story that Invesco executives say has nothing to do with government policy, but is instead rooted in the company's decades' worth of relationships in China.
The former investment company of U.S. Commerce Secretary Wilbur Ross has been flourishing in China, even as he marshals billions of dollars' worth of punishing tariffs in America's deepening trade war. U.S. money manager Invesco Ltd - for which Ross was a senior executive from 2006 until he joined Trump's cabinet in February 2017 - has become the top foreign manager of Chinese money in China over the past year through its joint venture Invesco Great Wall Management, according to research firm Z-Ben Advisors, leaping ahead of Switzerland's UBS . It is an unlikely success story that Invesco executives say has nothing to do with government policy, but is instead rooted in the company's decades' worth of relationships in China.
TORONTO , Aug. 13, 2019 /CNW/ - In response to client demand, Invesco today launched Invesco Portfolios (the Portfolios), a new suite of investment solutions, developed and managed by the Invesco Investment Solutions team. The Portfolios invest in a mix of both actively-managed mutual funds and passive, factor-based exchange traded funds (ETFs) across varying asset classes.
Victory Capital's (VCTR) Q2 results reflect higher assets under management and prudent cost management, partially offset by lower revenues.
ATLANTA , Aug. 12, 2019 /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ) today reported preliminary month-end assets under management (AUM) of $1,198.7 billion , an increase of less than 0.1%. The increase was ...
Franklin Resources' (BEN) preliminary assets under management (AUM) of $709.5 billion for July slip marginally from the prior month, unfavorably impacted by net outflows.
Neil Woodford’s stricken Equity Income fund has been named as the worst-performing UK fund in a list of serial underachievers, capping a dismal period for the former star stockpicker that culminated in the gating of his flagship investment vehicle. The inclusion of the £3.7bn fund in online investment company Bestinvest’s twice yearly “Spot the Dog” report will sit badly with investors whose money remains locked inside it. According to Bestinvest, investors who remain in the fund have chalked up a 20 per cent loss in real terms over the three years to the end of June, with an initial investment of £100 being reduced to just £80 after the reinvestment of any dividends.
Burford Capital, a London-listed litigation financing specialist, this week became the latest target of US short-seller Muddy Waters. The company also said that it had reported on its investments in “extraordinary detail”.
Litigation specialist Burford Capital has hit back at US short-seller Muddy Waters in a forceful rebuttal that spurred Burford’s shares to recover sharply from the hedge fund’s blistering attack on the company the previous day. In a nine-page riposte published on Thursday afternoon, Burford called Muddy Waters’ claims a litany of “factual inaccuracies”, “analytical errors” and “fallacious insinuations” and hit back at allegations surrounding the funder’s ties to Invesco and troubled investor Neil Woodford. “If Muddy Waters’ was the most sophisticated short attack I’ve ever seen, then this was the best rebuttal to a short attack that I’ve ever seen,” said fund manager James Clunie at Jupiter Asset Management, which is a shareholder in Burford.
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On August 1, 2018, Invesco Advisers, Inc. ("Invesco") announced that the Board of Trustees of the Trust approved a managed distribution plan (the "Plan") for the Trust, whereby the Trust will pay common shareholders a stable monthly distribution. Under the Plan, the Trust increased its dividend to a stated fixed monthly amount based on a distribution rate of 8.5% of the closing market price per share as of August 1, 2018, which is the date the Plan became effective. The Trust's distributions may include net investment income, long-term capital gains, short-term capital gains and/or return of capital.
(Bloomberg) -- Crossmark Holdings Inc., the sales and marketing company owned by Warburg Pincus LLC, completed a deal with creditors that cuts debt by 75% and hands the keys to lenders including affiliates of Eaton Vance Corp. and Invesco Ltd.The out-of-court debt exchange reduces leverage and was accepted by all of the company’s lenders, according to a statement. The biggest portion of the deal swapped $400 million of Crossmark’s first-lien term loan for $75 million of new debt and an initial 100% equity stake.Crossmark’s statement didn’t name the new owners, but people with knowledge of the matter said the group included Eaton Vance and Invesco. The people asked not to be identified discussing a private transaction.Creditors also exchanged $90 million of existing second-lien loans for warrants that would entitle holders to a 7.5% equity stake in the future.Additionally, Crossmark got a new $75 million credit facility to provide working capital and letters of credit to finance operations.Long TalksThe agreement emerged from months of negotiations between the company and a lender group that included Eaton Vance and Invesco, the people said.The role of the sales and marketing agent has evolved over the years and “the entire industry has become over-levered” as private equity firms took ownership, Chief Executive Officer Steve Schuckenbrock said in an interview. “The company was strapped with a highly levered balance sheet, which was a huge question mark for our clients and customers.”“It’s true for us and it’s true for our competitors,” Schuckenbrock said in the interview. The debt swap gives Crossmark the strongest balance sheet among its national peers, according to the statement.Representatives for Crossmark, based in Plano, Texas, and New York-based Warburg Pincus declined to comment on the deal itself. Eaton Vance and Invesco didn’t return messages seeking comment.Pitching ProductsCrossmark provides sales and marketing services for consumer brands, manufacturers and retailers. The company and its rivals, including Acosta Inc. and Advantage Solutions Inc., are the brands behind the brands on the shelves of retailers like Walmart, Target and Kroger. They make sure major retailers carry their clients’ products and display them well, and sometimes coordinate with the brands on product promotions.The sector has come under pressure as brands and retailers cut back on marketing expenses. Catalina Marketing Corp., historically known for its long ribbons of cash-register coupons, filed for bankruptcy in December to clean up its debt-plagued balance sheet; it’s shifting to focus on digital apps and consumer data.As retail margins shrink and rivals consolidate, Crossmark’s outlook has dimmed. Moody’s Investors Service downgraded the company’s credit rating in April to Ca from Caa3 after Crossmark missed an interest payment on its second-lien loan. The approximately half-billion dollars of debt on Crossmark’s balance sheet had been a heavy burden for a company of its size. That, combined with stagnant earnings had strained its liquidity, Moody’s said.Crossmark’s leaner balance sheet allows the company to focus on building out its data and analytic tools, Schuckenbrock said. “In today’s world with all the information that’s available, we standardized the process” to better understand clients needs, he said.The company is being advised by law firm Cleary Gottlieb Steen & Hamilton LLP, and investment bank Moelis & Co, the people said. Law firm Jones Day is representing the group of lenders.To contact the reporter on this story: Katherine Doherty in New York at email@example.comTo contact the editors responsible for this story: Rick Green at firstname.lastname@example.org, Dawn McCartyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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