Shares of Invesco (IVZ - Free Report) have gained 1.4% following the announcement its assets under management (AUM) for November 2019. The company’s preliminary month-end AUM of $1,201.9 billion inched up 0.6% from the prior month.
This upswing stemmed from favorable market returns, and non-management fee earning AUM. These were partly offset by outflows in Money Market AUM and net long-term outflows. Also, unfavorable foreign-exchange movement hurt AUM by $0.4 billion.
Invesco’s preliminary average total AUM for November was $1,193.7 billion and preliminary average active AUM totaled $911 billion.
At the end of the reported month, the company’s Equity AUM increased 2.6% from the prior month to $582.6 billion. Balanced AUM for November was $65.7 billion, up marginally on a sequential basis.
However, Alternatives AUM declined 1.2% from October 2019 to $183.6 billion. Further, Fixed Income AUM fell marginally to $281.6 billion. Also, Money Market AUM of $88.4 billion decreased 6.1% sequentially.
Improving AUM balance, strategic acquisitions and increasing global presence augur well for the company’s prospects.
Shares of the company have lost 17% over the past six months compared with 5.9% decline recorded 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.
Performance of Other Asset Managers
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $691.3 billion for November 2019. Results displayed a marginal decrease from $693.1 billion recorded as of Oct 31, 2019. Net outflows were partly offset by net market gains.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $71.2 billion as of Nov 30, 2019, down 1.1% from the prior month. Net inflows of $630 million were offset by market depreciation of $656 million and distributions of $758 million.
AllianceBernstein Holding L.P.’s (AB - Free Report) preliminary month-end AUM of $611 billion increased 1.7% from the prior month. Total net inflows and favorable markets were the primary reasons for this rise.
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Shares of Invesco (IVZ - Free Report) have gained 1.4% following the announcement its assets under management (AUM) for November 2019. The company’s preliminary month-end AUM of $1,201.9 billion inched up 0.6% from the prior month.
This upswing stemmed from favorable market returns, and non-management fee earning AUM. These were partly offset by outflows in Money Market AUM and net long-term outflows. Also, unfavorable foreign-exchange movement hurt AUM by $0.4 billion.
Invesco’s preliminary average total AUM for November was $1,193.7 billion and preliminary average active AUM totaled $911 billion.
At the end of the reported month, the company’s Equity AUM increased 2.6% from the prior month to $582.6 billion. Balanced AUM for November was $65.7 billion, up marginally on a sequential basis.
However, Alternatives AUM declined 1.2% from October 2019 to $183.6 billion. Further, Fixed Income AUM fell marginally to $281.6 billion. Also, Money Market AUM of $88.4 billion decreased 6.1% sequentially.
Improving AUM balance, strategic acquisitions and increasing global presence augur well for the company’s prospects.
Shares of the company have lost 17% over the past six months compared with 5.9% decline recorded 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.
Performance of Other Asset Managers
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $691.3 billion for November 2019. Results displayed a marginal decrease from $693.1 billion recorded as of Oct 31, 2019. Net outflows were partly offset by net market gains.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $71.2 billion as of Nov 30, 2019, down 1.1% from the prior month. Net inflows of $630 million were offset by market depreciation of $656 million and distributions of $758 million.
AllianceBernstein Holding L.P.’s (AB - Free Report) preliminary month-end AUM of $611 billion increased 1.7% from the prior month. Total net inflows and favorable markets were the primary reasons for this rise.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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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