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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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.
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 2020.
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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