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Invesco's (IVZ) March AUM Falls on Lower Money Market Assets
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Invesco Ltd. (IVZ - Free Report) announced a slight decline in preliminary month-end assets under management (“AUM”) for Mar 2017. The company’s AUM came in at $834.8 billion, down marginally from $836.8 billion recorded in the prior month.
This fall can be attributed to decline in Money Market AUM and long-term net outflows. However, these were partly offset by favorable market returns and inflows in PowerShares QQQs. Further, FX increased March AUM by $0.6 billion.
Besides, Invesco’s preliminary average total AUM for the quarter through Mar 31 was $829.8 billion, while preliminary average active AUM was $678.4 billion.
At the end of March, Invesco’s Equity AUM grew 0.5% from the prior month to $381.8 billion. Further, Fixed Income AUM of $203.8 billion rose slightly from $203.2 billion in Feb 2017.
Additionally, Balanced AUM came in at $48.9 billion, increasing 0.6% from the Feb 2017 figure. However, Alternatives AUM fell marginally from the preceding month to $127.2 billion. Also, Money Market AUM was recorded at $73.1 billion, down 6.3% from the prior month.
In the last three months, shares of Invesco lost nearly 1% as against a gain of 3.3% for the Zacks categorized Investment Management industry.
Apart from Invesco, another investment manager, Franklin Resources, Inc. (BEN - Free Report) , declared preliminary AUM of $740 billion by its subsidiaries for Mar 2017, a slight rise from the prior month. Further, Legg Mason, Inc. is likely to come out with its Feb 2017 AUM data soon.
Currently, Invesco carries a Zacks Rank #3 (Hold).
A better-ranked stock in the same space is Ameriprise Financial, Inc. (AMP - Free Report) . The company’s shares have risen 12.3% in the last three months. The stock’s Zacks Consensus Estimate for 2017 has remained stable, in the last 60 days. The stock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Invesco's (IVZ) March AUM Falls on Lower Money Market Assets
Invesco Ltd. (IVZ - Free Report) announced a slight decline in preliminary month-end assets under management (“AUM”) for Mar 2017. The company’s AUM came in at $834.8 billion, down marginally from $836.8 billion recorded in the prior month.
This fall can be attributed to decline in Money Market AUM and long-term net outflows. However, these were partly offset by favorable market returns and inflows in PowerShares QQQs. Further, FX increased March AUM by $0.6 billion.
Besides, Invesco’s preliminary average total AUM for the quarter through Mar 31 was $829.8 billion, while preliminary average active AUM was $678.4 billion.
At the end of March, Invesco’s Equity AUM grew 0.5% from the prior month to $381.8 billion. Further, Fixed Income AUM of $203.8 billion rose slightly from $203.2 billion in Feb 2017.
Additionally, Balanced AUM came in at $48.9 billion, increasing 0.6% from the Feb 2017 figure. However, Alternatives AUM fell marginally from the preceding month to $127.2 billion. Also, Money Market AUM was recorded at $73.1 billion, down 6.3% from the prior month.
In the last three months, shares of Invesco lost nearly 1% as against a gain of 3.3% for the Zacks categorized Investment Management industry.
Apart from Invesco, another investment manager, Franklin Resources, Inc. (BEN - Free Report) , declared preliminary AUM of $740 billion by its subsidiaries for Mar 2017, a slight rise from the prior month. Further, Legg Mason, Inc. is likely to come out with its Feb 2017 AUM data soon.
Currently, Invesco carries a Zacks Rank #3 (Hold).
A better-ranked stock in the same space is Ameriprise Financial, Inc. (AMP - Free Report) . The company’s shares have risen 12.3% in the last three months. The stock’s Zacks Consensus Estimate for 2017 has remained stable, in the last 60 days. The stock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can 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. Click here for Zacks' private trades >>