Invesco (IVZ - Free Report) announced assets under management (AUM) for August 2020. The company’s preliminary month-end AUM of $1,245.8 billion represents a 4.2% increase from the previous month.
This upswing was driven by favorable market returns, which boosted AUM by $40 billion. Moreover, FX increased AUM by $3.5 billion.
Overall net long-term inflows were $2.4 billion. Further, non-management fee earning net inflows came in at $3.8 billion and money market net inflows were $0.7 billion.
Invesco’s preliminary average total AUM for the quarter through Aug 31 was $1,199.4 billion and preliminary average active AUM summed $895.2 billion.
At the end of the reported month, the company’s Equity AUM was up 6.5% from the prior month to $612.5 billion. Balanced AUM for August was $69.1 billion, up 7% sequentially.
Alternatives AUM inched up 1.5% from the prior month to $175.9 billion. Fixed Income AUM of $275.2 billion rose 1.8% from the previous month. Moreover, Money Market AUM increased 1.1% from the previous month to $113.1 billion.
Improving AUM balance and global presence augur well for the company’s prospects. However, lower interest rates and a tough operating backdrop are concerns.
Shares of the company have gained 8.6% in the past six months compared with 35.1% growth registered by the industry.
Currently, Invesco carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $72.1 billion as of Aug 31, 2020, which increased 2.8% from the prior-month level. Market appreciation of $1.2 billion and net inflows of $1 billion were partially offset by distributions of $211 million.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for August next week.
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Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Zacks Names "Single Best Pick to Double"
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Invesco (IVZ - Free Report) announced assets under management (AUM) for August 2020. The company’s preliminary month-end AUM of $1,245.8 billion represents a 4.2% increase from the previous month.
This upswing was driven by favorable market returns, which boosted AUM by $40 billion. Moreover, FX increased AUM by $3.5 billion.
Overall net long-term inflows were $2.4 billion. Further, non-management fee earning net inflows came in at $3.8 billion and money market net inflows were $0.7 billion.
Invesco’s preliminary average total AUM for the quarter through Aug 31 was $1,199.4 billion and preliminary average active AUM summed $895.2 billion.
At the end of the reported month, the company’s Equity AUM was up 6.5% from the prior month to $612.5 billion. Balanced AUM for August was $69.1 billion, up 7% sequentially.
Alternatives AUM inched up 1.5% from the prior month to $175.9 billion. Fixed Income AUM of $275.2 billion rose 1.8% from the previous month. Moreover, Money Market AUM increased 1.1% from the previous month to $113.1 billion.
Improving AUM balance and global presence augur well for the company’s prospects. However, lower interest rates and a tough operating backdrop are concerns.
Shares of the company have gained 8.6% in the past six months compared with 35.1% growth registered by the industry.
Currently, Invesco carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $72.1 billion as of Aug 31, 2020, which increased 2.8% from the prior-month level. Market appreciation of $1.2 billion and net inflows of $1 billion were partially offset by distributions of $211 million.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for August next week.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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