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Invesco's (IVZ) December AUM Rise Despite Net Outflows
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Invesco Ltd. (IVZ - Free Report) announced its preliminary month-end assets under management (“AUM”) for Dec 2016. The company’s AUM came in at $812.9 billion, up 0.9% from $805.6 billion recorded in the prior month.
The rise was driven by higher money market AUM and favorable market returns, partly offset by net long-term outflows. Also, there was an unfavorable foreign exchange impact of $1.5 billion.
Additionally, Invesco’s preliminary average total AUM for the quarter through Dec 31 was $809.0 billion, while preliminary average active AUM was $667.0 billion.
At the end of December, Invesco’s total Equity AUM inched up 1.2% from the prior month to $364.1 billion. Further, Fixed Income AUM of $201.7 billion declined nearly 0.2% from the Nov 2016 level.
In addition, Balanced AUM came in at $46.8 billion, in line with the Nov 2016 figure. Also, Alternatives AUM increased nearly 2.3% from the preceding month to $122.0 billion. Further, money market AUM was recorded at $78.3 billion, up 0.9% from the prior month.
Invesco currently carries a Zacks Rank #3 (Hold). The company’s stock has gained around 6.9% over the last one year, underperforming the 21% gain for the Zacks categorized Investment Management industry.
Apart from Invesco, another investment manager, Franklin Resources Inc. (BEN - Free Report) , declared preliminary AUM of $720.0 billion by its subsidiaries for Dec 2016, a 1% rise from the prior month. It also carries a Zacks Rank #3.
A couple of better-ranked stocks in the same space include The Blackstone Group L.P. (BX - Free Report) and Apollo Global Management, LLC (APO - Free Report) .
Blackstone’s shares have gained 23.6% over the last one year. The Zacks Consensus Estimate for the stock also inched up nearly 0.5% for 2016, over the last 30 days. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apollo Global also carries a Zacks Rank #2. Its earnings estimates for 2016 have been revised 9.1% upward, over the past 30 days. Also, its shares have gained 53.9%, in the last one year.
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Invesco's (IVZ) December AUM Rise Despite Net Outflows
Invesco Ltd. (IVZ - Free Report) announced its preliminary month-end assets under management (“AUM”) for Dec 2016. The company’s AUM came in at $812.9 billion, up 0.9% from $805.6 billion recorded in the prior month.
The rise was driven by higher money market AUM and favorable market returns, partly offset by net long-term outflows. Also, there was an unfavorable foreign exchange impact of $1.5 billion.
Additionally, Invesco’s preliminary average total AUM for the quarter through Dec 31 was $809.0 billion, while preliminary average active AUM was $667.0 billion.
At the end of December, Invesco’s total Equity AUM inched up 1.2% from the prior month to $364.1 billion. Further, Fixed Income AUM of $201.7 billion declined nearly 0.2% from the Nov 2016 level.
In addition, Balanced AUM came in at $46.8 billion, in line with the Nov 2016 figure. Also, Alternatives AUM increased nearly 2.3% from the preceding month to $122.0 billion. Further, money market AUM was recorded at $78.3 billion, up 0.9% from the prior month.
Invesco currently carries a Zacks Rank #3 (Hold). The company’s stock has gained around 6.9% over the last one year, underperforming the 21% gain for the Zacks categorized Investment Management industry.
Apart from Invesco, another investment manager, Franklin Resources Inc. (BEN - Free Report) , declared preliminary AUM of $720.0 billion by its subsidiaries for Dec 2016, a 1% rise from the prior month. It also carries a Zacks Rank #3.
A couple of better-ranked stocks in the same space include The Blackstone Group L.P. (BX - Free Report) and Apollo Global Management, LLC (APO - Free Report) .
Blackstone’s shares have gained 23.6% over the last one year. The Zacks Consensus Estimate for the stock also inched up nearly 0.5% for 2016, over the last 30 days. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apollo Global also carries a Zacks Rank #2. Its earnings estimates for 2016 have been revised 9.1% upward, over the past 30 days. Also, its shares have gained 53.9%, in the last one year.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>.