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Invesco (IVZ) October AUM Up on Higher Money Market Assets
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Invesco Ltd. (IVZ - Free Report) announced an increase in its preliminary month-end assets under management (AUM) for October 2017. The company’s AUM came in at $928.4 billion, a rise of 1.2% from the prior month.
The rise reflected favorable market returns, inflows in PowerShares QQQs and an increase in Money Market AUM, partially offset by net long-term outflows. Also, FX lowered October AUM by $2.8 billion.
Invesco’s preliminary average total AUM for the quarter through Oct 31 was $922.4 billion, while preliminary average active AUM was $729.6 billion.
At the end of the reported month, Invesco’s Equity AUM grew 1.7% from the prior month to $423.4 billion. Also, Money Market AUM was $84 billion, increasing 2.6% from last month.
Further, Fixed Income AUM of $225.3 billion increased marginally from the September 2017 level. Additionally, Balanced AUM came in at $55.2 billion, rising 1.8% from the prior month. However, Alternatives AUM fell marginally from the preceding month to $140.5 billion.
While the company is witnessing a rise in AUM, an overall challenging operating environment seems to be weighing on investors’ mind. So far this year, shares of Invesco have gained 17%, underperforming the industry’s rally of 26%.
Apart from Invesco, another investment manager, Franklin Resources, Inc. (BEN - Free Report) declared preliminary AUM of $750.7 billion by its subsidiaries for October 2017, reflecting a slight decline from the prior month. Legg Mason, Inc. and T. Rowe Price Group, Inc. (TROW - Free Report) are likely to come up with their monthly AUM figures in the coming days.
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Invesco (IVZ) October AUM Up on Higher Money Market Assets
Invesco Ltd. (IVZ - Free Report) announced an increase in its preliminary month-end assets under management (AUM) for October 2017. The company’s AUM came in at $928.4 billion, a rise of 1.2% from the prior month.
The rise reflected favorable market returns, inflows in PowerShares QQQs and an increase in Money Market AUM, partially offset by net long-term outflows. Also, FX lowered October AUM by $2.8 billion.
Invesco’s preliminary average total AUM for the quarter through Oct 31 was $922.4 billion, while preliminary average active AUM was $729.6 billion.
At the end of the reported month, Invesco’s Equity AUM grew 1.7% from the prior month to $423.4 billion. Also, Money Market AUM was $84 billion, increasing 2.6% from last month.
Further, Fixed Income AUM of $225.3 billion increased marginally from the September 2017 level. Additionally, Balanced AUM came in at $55.2 billion, rising 1.8% from the prior month. However, Alternatives AUM fell marginally from the preceding month to $140.5 billion.
While the company is witnessing a rise in AUM, an overall challenging operating environment seems to be weighing on investors’ mind. So far this year, shares of Invesco have gained 17%, underperforming the industry’s rally of 26%.
Apart from Invesco, another investment manager, Franklin Resources, Inc. (BEN - Free Report) declared preliminary AUM of $750.7 billion by its subsidiaries for October 2017, reflecting a slight decline from the prior month. Legg Mason, Inc. and T. Rowe Price Group, Inc. (TROW - Free Report) are likely to come up with their monthly AUM figures in the coming days.
Currently, Invesco 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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