Invesco (IVZ - Free Report) has announced assets under management (AUM) for October 2020. The company’s preliminary month-end AUM of $1,206.5 billion represents an 1% decrease from the prior month.
This was largely due to unfavorable market returns, which lowered the company’s AUM by $10 billion. Further, Invesco witnessed total net outflows of $2.3 billion during the month.
Nevertheless, FX increased AUM by $0.8 billion. Also, Invesco recorded net long-term inflows of $2.5 billion in October, while non-management fee earning net inflows were $2.5 billion.
Invesco’s preliminary average total AUM for the quarter through Oct 31 was $1,235.5 billion and preliminary average active AUM summed $907.4 billion.
At the end of the reported month, the company’s Equity AUM slid 1.8% from the prior month to $582 billion. Also, Money Market AUM decreased 6.2% to $102.5 billion. Alternatives AUM declined 0.6% sequentially to $170.9 billion.
However, Fixed Income AUM of $282.9 billion rose 2.4% from September-end. Further, Balanced AUM for October was $68.2 billion, up slightly sequentially.
Invesco’s global presence and solid AUM balance augur well for its prospects. Nonetheless, lower interest rates and a tough operating backdrop are key near-term concerns.
Shares of Invesco have declined 19.2% so far this year against 6.3% rally of the industry it belongs to.
Currently, Invesco carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $71.3 billion as of Oct 31, 2020, which increased 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $1.39 trillion for October 2020. Results displayed a 1.9% fall from the $1.42 trillion recorded as of Sep 30, 2020.
T. Rowe Price Group (TROW - Free Report) is likely to come out with October AUM numbers in the coming days.
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Invesco (IVZ - Free Report) has announced assets under management (AUM) for October 2020. The company’s preliminary month-end AUM of $1,206.5 billion represents an 1% decrease from the prior month.
This was largely due to unfavorable market returns, which lowered the company’s AUM by $10 billion. Further, Invesco witnessed total net outflows of $2.3 billion during the month.
Nevertheless, FX increased AUM by $0.8 billion. Also, Invesco recorded net long-term inflows of $2.5 billion in October, while non-management fee earning net inflows were $2.5 billion.
Invesco’s preliminary average total AUM for the quarter through Oct 31 was $1,235.5 billion and preliminary average active AUM summed $907.4 billion.
At the end of the reported month, the company’s Equity AUM slid 1.8% from the prior month to $582 billion. Also, Money Market AUM decreased 6.2% to $102.5 billion. Alternatives AUM declined 0.6% sequentially to $170.9 billion.
However, Fixed Income AUM of $282.9 billion rose 2.4% from September-end. Further, Balanced AUM for October was $68.2 billion, up slightly sequentially.
Invesco’s global presence and solid AUM balance augur well for its prospects. Nonetheless, lower interest rates and a tough operating backdrop are key near-term concerns.
Shares of Invesco have declined 19.2% so far this year against 6.3% rally of the industry it belongs to.
Currently, Invesco carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $71.3 billion as of Oct 31, 2020, which increased 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $1.39 trillion for October 2020. Results displayed a 1.9% fall from the $1.42 trillion recorded as of Sep 30, 2020.
T. Rowe Price Group (TROW - Free Report) is likely to come out with October AUM numbers in the coming days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>
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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