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Invesco (IVZ) August AUM Up on Favorable Markets, Net Inflows

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Invesco (IVZ - Free Report) announced assets under management (AUM) for August 2020. The company’s preliminary month-end AUM of $1,245.8 billion represents a 4.2% increase from the previous month.

This upswing was driven by favorable market returns, which boosted AUM by $40 billion. Moreover, FX increased AUM by $3.5 billion.

Overall net long-term inflows were $2.4 billion. Further, non-management fee earning net inflows came in at $3.8 billion and money market net inflows were $0.7 billion.

Invesco’s preliminary average total AUM for the quarter through Aug 31 was $1,199.4 billion and preliminary average active AUM summed $895.2 billion.

At the end of the reported month, the company’s Equity AUM was up 6.5% from the prior month to $612.5 billion. Balanced AUM for August was $69.1 billion, up 7% sequentially.

Alternatives AUM inched up 1.5% from the prior month to $175.9 billion. Fixed Income AUM of $275.2 billion rose 1.8% from the previous month. Moreover, Money Market AUM increased 1.1% from the previous month to $113.1 billion.

Improving AUM balance and global presence augur well for the company’s prospects. However, lower interest rates and a tough operating backdrop are concerns.

Shares of the company have gained 8.6% in the past six months compared with 35.1% growth registered 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.

Competitive Landscape

Cohen & Steers (CNS - Free Report) reported preliminary AUM of $72.1 billion as of Aug 31, 2020, which increased 2.8% from the prior-month level. Market appreciation of $1.2 billion and net inflows of $1 billion were partially offset by distributions of $211 million.

Among others, T. Rowe Price Group, Inc. (TROW - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for August next week.

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Invesco Ltd. (IVZ) - free report >>

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