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Invesco September AUM Up 1.2% on Higher Money Market Assets

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Invesco Ltd. (IVZ - Free Report) announced an increase in its preliminary month-end assets under management (AUM) for September 2017. The company’s AUM came in at $917.5 billion, a rise of 1.2% from $906.7 billion in the prior month.

The rise reflected favorable market returns, an increase in Money Market AUM and net long-term inflows, partially offset by outflows in PowerShares QQQs. Moreover, FX increased September AUM by $3.5 billion.

Invesco’s preliminary average total AUM for the quarter through Sep 30 was $890.8 billion, while preliminary average active AUM was $717 billion.

At the end of the reported month, Invesco’s Equity AUM grew nearly 2% from the prior month to $416.2 billion. Also, Money Market AUM was $81.9 billion, increasing marginally from last month.

Further, Fixed Income AUM of $224.5 billion increased nearly 1% from the August 2017 level. Additionally, Alternatives AUM grew 1% from the preceding month to $140.7 billion. However, balanced AUM came in at $54.2 billion, decreasing marginally from August 2017.

While the company is witnessing a rise in AUM, an overall challenging operating environment seems to be weighing on investors’ mind. So far this year, shares of Invesco have gained 18.9%, underperforming the industry’s rally of 24.7%.

Apart from Invesco, another investment manager, Franklin Resources, Inc. (BEN - Free Report) declared preliminary AUM of $753.2 billion by its subsidiaries for September 2017, reflecting an increase of 1% from the prior month. Legg Mason, Inc. (LM - Free Report) and T. Rowe Price Group, Inc. (TROW - Free Report) are likely to come up with their monthly AUM figures in the coming days.

Currently, Invesco carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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