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Invesco's (IVZ) September AUM Slips 0.1% on Net Outflows
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Invesco Ltd. (IVZ - Free Report) announced its preliminary month-end assets under management (“AUM”) for Sep 2016. The company’s AUM came in at $820.2 billion, a fall of 0.1% from $821.0 billion recorded in the prior month.
This decline stemmed from lower money market AUM and outflows in PowerShares QQQ. Further, there was an unfavorable foreign exchange impact of $0.3 billion. However, these negatives were partly offset by favorable market returns and net long-term inflows.
Additionally, Invesco’s preliminary average total AUM for the quarter through Sep 30 was $814.1 billion, while preliminary average active AUM was $673.1 billion.
At the end of September, Invesco’s total Equity AUM fell 0.5% from the prior month to $365.3 billion. Further, money market AUM was recorded at $77.2 billion, down 3.7% from the preceding month.
Nonetheless, Fixed Income AUM was $207.0 billion, up nearly 1% from $205.0 billion at the end of Aug 2016. Additionally, Balanced AUM came in at $48.9 billion, up 0.4% from $48.7 billion recorded in Aug 2016. Also, Alternatives AUM rose 1.4% from the preceding month to $121.8 billion.
Apart from Invesco, another investment manager, Franklin Resources Inc. (BEN - Free Report) , declared preliminary AUM of $733.3 billion by its subsidiaries for Sep 2016, a 0.9% decline from the prior month. Notably, Legg Mason, Inc. is expected to release preliminary AUM results for Sep 2016 later this week.
A similarly ranked asset manager is Apollo Global Management, LLC (APO - Free Report) . Shares of the company have gained nearly 14% over the past six months. Further, the Zacks Consensus Estimate for the stock has increased by 1.8% over the past 30 days, for 2016.
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Invesco's (IVZ) September AUM Slips 0.1% on Net Outflows
Invesco Ltd. (IVZ - Free Report) announced its preliminary month-end assets under management (“AUM”) for Sep 2016. The company’s AUM came in at $820.2 billion, a fall of 0.1% from $821.0 billion recorded in the prior month.
This decline stemmed from lower money market AUM and outflows in PowerShares QQQ. Further, there was an unfavorable foreign exchange impact of $0.3 billion. However, these negatives were partly offset by favorable market returns and net long-term inflows.
Additionally, Invesco’s preliminary average total AUM for the quarter through Sep 30 was $814.1 billion, while preliminary average active AUM was $673.1 billion.
At the end of September, Invesco’s total Equity AUM fell 0.5% from the prior month to $365.3 billion. Further, money market AUM was recorded at $77.2 billion, down 3.7% from the preceding month.
Nonetheless, Fixed Income AUM was $207.0 billion, up nearly 1% from $205.0 billion at the end of Aug 2016. Additionally, Balanced AUM came in at $48.9 billion, up 0.4% from $48.7 billion recorded in Aug 2016. Also, Alternatives AUM rose 1.4% from the preceding month to $121.8 billion.
Apart from Invesco, another investment manager, Franklin Resources Inc. (BEN - Free Report) , declared preliminary AUM of $733.3 billion by its subsidiaries for Sep 2016, a 0.9% decline from the prior month. Notably, Legg Mason, Inc. is expected to release preliminary AUM results for Sep 2016 later this week.
Currently, Invesco carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A similarly ranked asset manager is Apollo Global Management, LLC (APO - Free Report) . Shares of the company have gained nearly 14% over the past six months. Further, the Zacks Consensus Estimate for the stock has increased by 1.8% over the past 30 days, for 2016.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>