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Invesco (IVZ) Stock Up 1% as July AUM Rises on Solid Inflows
Shares of Invesco (IVZ - Free Report) gained 1% in aftermarket trading in response to the announcement of assets under management (AUM) balance for July 2021. The company’s preliminary month-end AUM of $1,528.4 billion represented a marginal rise of 0.2% from the prior month.
The rise was mainly driven by net inflows of $3.5 billion in July. Invesco recorded net long-term inflows of $1.7 billion and non-management fee earning net inflows of $2.9 billion, while money market net outflows were $1.1 billion.
During the month, AUM balance wasn’t materially impacted by market returns or foreign exchange rate movements.
Invesco’s preliminary average total AUM in the quarter through Jul 31 was $1,524.5 billion and preliminary average active AUM summed $1,058.9 billion.
At the end of the reported month, the company’s Equity AUM was $796.7 billion, up 0.2% from the previous month. Alternatives AUM rose 1.8% sequentially to $191.1 billion. Fixed Income AUM of $320.9 billion was up 1%.
On the other hand, Money Market AUM declined 0.8% to $134.6 billion. Balanced AUM for May was $85.1 billion, decreasing 3.8% from June 2021 end.
Invesco’s global presence, solid AUM balance and initiatives to capitalize on investors’ demand for different investment strategies poise it well for the future.
Shares of the company have surged 42.8% so far this year, outperforming 33.5% growth of the industry it belongs to.
Image Source: Zacks Investment Research
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
Franklin Resources (BEN - Free Report) reported preliminary AUM of $1,557.3 billion for July 2021. This reflected 0.3% growth from the $1,552.1 billion recorded as of Jun 30, 2021. The increase primarily reflected the positive impact of markets and the acquisition of Diamond Hill’s high yield-focused, U.S. corporate credit mutual funds of nearly $3.4 billion, which were partially offset by long-term net outflows.
Other asset managers including Lazard Ltd (LAZ - Free Report) and T. Rowe Price Group, Inc. (TROW - Free Report) are likely to come out with July AUM balance soon.