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Invesco's (IVZ) August AUM Declines on Unfavorable Markets

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Invesco (IVZ - Free Report) announced preliminary assets under management (AUM) for August 2023. The company’s month-end AUM of $1,527.7 billion represented a decline of 2.7% from the previous month.

Invesco’s net long-term flows were break-even in the reported month. Non-management fee-earning net outflows were $4.8 billion, whereas money market net outflows were $9.4 billion. Unfavorable market returns decreased AUM by $23 billion and foreign exchange decreased AUM by $5.4 billion.

Invesco’s preliminary average total AUM in the quarter through Aug 31 was $1,538.4 billion and its preliminary average active AUM was $1,003.2 billion.

At the end of the reported month, the company’s Equity AUM was $758.2 billion, down 3.3% from the previous month. Fixed Income AUM of $318.7 billion decreased marginally from the previous month.

Balanced AUM for August was $63.3 billion, down 4.4% from July 2023-end. Alternatives AUM was down marginally to $180.1 billion. Money Market AUM declined 4.5% from the prior-month end to $207.4 billion.

Several macroeconomic headwinds have been leading to a volatile trend in net flows, which, along with a challenging operating environment, might hurt Invesco’s top line in the near term.

Over the past six months, shares of Invesco have lost 4.2% against the industry’s rise of 13.7%.


Zacks Investment Research
Image Source: Zacks Investment Research


Currently, IVZ carries a Zacks Rank #5 (Strong Sell).

Competitive Landscape

Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $80 billion as of Aug 31, 2023, which reflected a decline of 2.8% from the prior-month level. Market depreciation of $2.2 billion and distributions of $157 million were partly offset by net inflows of $12 million.

CNS recorded total institutional accounts of $33.5 billion at the end of August 2023, declining 2.7% from the July-end level. Of the total institutional accounts, advisory accounts were $19 billion, while the rest were sub-advisory.

T. Rowe Price Group, Inc. (TROW - Free Report) is expected to come up with monthly AUM figures in the coming days. Currently, TROW sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

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