Invesco (IVZ - Free Report) announced its assets under management (AUM) for April 2020. The company’s preliminary month-end AUM of $1,118.6 billion represents a 6.2% increase from the previous month.
The rise was driven by favorable market returns, which led to an increase in AUM by $63 billion. Further, FX increased AUM by $2.1 billion.
It reported net inflows of $0.4 billion, driven by a $5.8-billion increase in money market AUM and net long-term inflows of $1.6 billion in the institutional business. Overall net long-term outflows were $4.9 billion and non-management fee earnings outflows were $0.6 billion.
Invesco’s preliminary average total AUM for the quarter through February was $1,084.4 billion and preliminary average active AUM totaled $829.1 billion.
At the end of the reported month, the company’s Equity AUM increased 11% from the prior month to $510.1 billion. Balanced AUM for April was $57.6 billion, up 5.7% sequentially.
Also, Alternatives AUM grew almost 3% from the prior month to $167 billion. Further, Money Market AUM rose 5.6% from the prior month to $124.1 billion. Fixed Income AUM of $259.8 billion remained stable from the previous month.
Improving AUM balance, strategic acquisitions and increasing global presence augur well for the company’s prospects. However, coronavirus-related concerns remain a major headwind.
Shares of Invesco have lost 58.1% so far this year compared with a 15% decline recorded by the industry.
Currently, the company carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
AllianceBernstein (AB - Free Report) announced preliminary AUM of $576 billion for April 2020, up 6.3% from the prior month. The increase was largely attributed to market appreciation and net inflows.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $62.1 billion as of Apr 30, 2020, increasing 8.3% from the prior-month level. Market appreciation of $4.2 billion and net inflows of $744 million were partially offset by distributions of $198 million.
Franklin Resources (BEN - Free Report) reported a rise in preliminary month-end AUM balance. The company’s AUM balance as of Apr 30, 2020 increased 3.3% sequentially to $599.4 billion. The rise was largely driven by strong market performance and increase in net outflows.
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Invesco (IVZ - Free Report) announced its assets under management (AUM) for April 2020. The company’s preliminary month-end AUM of $1,118.6 billion represents a 6.2% increase from the previous month.
The rise was driven by favorable market returns, which led to an increase in AUM by $63 billion. Further, FX increased AUM by $2.1 billion.
It reported net inflows of $0.4 billion, driven by a $5.8-billion increase in money market AUM and net long-term inflows of $1.6 billion in the institutional business. Overall net long-term outflows were $4.9 billion and non-management fee earnings outflows were $0.6 billion.
Invesco’s preliminary average total AUM for the quarter through February was $1,084.4 billion and preliminary average active AUM totaled $829.1 billion.
At the end of the reported month, the company’s Equity AUM increased 11% from the prior month to $510.1 billion. Balanced AUM for April was $57.6 billion, up 5.7% sequentially.
Also, Alternatives AUM grew almost 3% from the prior month to $167 billion. Further, Money Market AUM rose 5.6% from the prior month to $124.1 billion. Fixed Income AUM of $259.8 billion remained stable from the previous month.
Improving AUM balance, strategic acquisitions and increasing global presence augur well for the company’s prospects. However, coronavirus-related concerns remain a major headwind.
Shares of Invesco have lost 58.1% so far this year compared with a 15% decline recorded by the industry.
Currently, the company carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
AllianceBernstein (AB - Free Report) announced preliminary AUM of $576 billion for April 2020, up 6.3% from the prior month. The increase was largely attributed to market appreciation and net inflows.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $62.1 billion as of Apr 30, 2020, increasing 8.3% from the prior-month level. Market appreciation of $4.2 billion and net inflows of $744 million were partially offset by distributions of $198 million.
Franklin Resources (BEN - Free Report) reported a rise in preliminary month-end AUM balance. The company’s AUM balance as of Apr 30, 2020 increased 3.3% sequentially to $599.4 billion. The rise was largely driven by strong market performance and increase in net outflows.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
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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