Invesco Ltd. (IVZ - Free Report) announced an increase in its preliminary month-end assets under management (AUM) for Jul 2017. The company’s AUM came in at $876.9 billion, up 2.2% from $858.3 billion in the prior month.
The rise reflected favorable market returns, higher Money Market AUM and net long-term inflows, partly offset by outflows in PowerShares QQQs. Further, FX increased July AUM by $3.7 billion.
Invesco’s preliminary average total AUM for the quarter through Jul 31 was $869.4 billion while preliminary average active AUM was $709.5 billion.
At the end of the reported month, Invesco’s Equity AUM grew 1.6% from the prior month to $397.6 billion. Also, Money Market AUM was $81.3 billion, jumping 6.8% from the prior month.
Further, Fixed Income AUM of $211.6 billion rose 1.3% from Jun 2017 level. Additionally, Balanced AUM came in at $53.6 billion, jumping 2.7% from Jun 2017. Alternatives AUM rose 2.2% from the preceding month to $132.8 billion.
While the company is witnessing a rise in AUM, an overall challenging operating environment seems to be weighing on the investors’ mind. So far this year, shares of Invesco have gained 13.9%, underperforming the industry’s rally of 19.7%.
Apart from Invesco, another investment manager, Franklin Resources, Inc. (BEN - Free Report) declared preliminary AUM of $752.7 billion by its subsidiaries for Jul 2017, a 1.3% rise from the prior month. Further, Legg Mason, Inc. is likely to come out with its monthly AUM figures in the coming days.
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 17.3% over the last six months. The Zacks Consensus Estimate for the company for the current year was revised nearly 4% upward, in the last 30 days. The stock currently 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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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.
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Invesco Ltd. (IVZ - Free Report) announced an increase in its preliminary month-end assets under management (AUM) for Jul 2017. The company’s AUM came in at $876.9 billion, up 2.2% from $858.3 billion in the prior month.
The rise reflected favorable market returns, higher Money Market AUM and net long-term inflows, partly offset by outflows in PowerShares QQQs. Further, FX increased July AUM by $3.7 billion.
Invesco’s preliminary average total AUM for the quarter through Jul 31 was $869.4 billion while preliminary average active AUM was $709.5 billion.
At the end of the reported month, Invesco’s Equity AUM grew 1.6% from the prior month to $397.6 billion. Also, Money Market AUM was $81.3 billion, jumping 6.8% from the prior month.
Further, Fixed Income AUM of $211.6 billion rose 1.3% from Jun 2017 level. Additionally, Balanced AUM came in at $53.6 billion, jumping 2.7% from Jun 2017. Alternatives AUM rose 2.2% from the preceding month to $132.8 billion.
While the company is witnessing a rise in AUM, an overall challenging operating environment seems to be weighing on the investors’ mind. So far this year, shares of Invesco have gained 13.9%, underperforming the industry’s rally of 19.7%.
Apart from Invesco, another investment manager, Franklin Resources, Inc. (BEN - Free Report) declared preliminary AUM of $752.7 billion by its subsidiaries for Jul 2017, a 1.3% rise from the prior month. Further, Legg Mason, Inc. is likely to come out with its monthly AUM figures in the coming days.
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 17.3% over the last six months. The Zacks Consensus Estimate for the company for the current year was revised nearly 4% upward, in the last 30 days. The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today.
Learn more >>
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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