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Invesco's AUM Falls in September: Will Growth Momentum Rebound?
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Key Takeaways
IVZ's September AUM declined 0.9% to $2.54 trillion, hurt by outflows, market losses and currency moves.
QQQ AUM rose 2% to $498.9 billion, bucking declines across ETFs, fixed income, equities and private markets.
IVZ's average Q3 AUM reached $2.51 trillion, but persistent outflows and rising costs could pressure growth.
Invesco Ltd. (IVZ - Free Report) reported preliminary assets under management (AUM) of $2.54 trillion as of Sept. 30, 2026, down 0.9% from August. The decline reflected $1.1 billion in net long-term outflows, $5.7 billion in money-market net outflows and unfavorable market returns, which reduced AUM by $16 billion. Foreign-exchange movements further lowered AUM by $2.7 billion, partly offset by $0.9 billion in reinvested distributions.
During September, Invesco recorded net long-term outflows of $1.1 billion and money-market net outflows of $5.7 billion. Additionally, unfavorable market returns reduced AUM by $16 billion, while foreign-exchange movements had a negative impact of $2.7 billion. However, reinvested distributions added $0.9 billion.
Despite the monthly decline, preliminary average total AUM for the third quarter through Sept. 30 was $2.51 trillion, while average active AUM was $1.25 trillion. Average total AUM was higher than the $2.49 trillion reported for the quarter through Aug. 31, indicating that the company's average asset base remained relatively strong despite September's weakness.
Invesco's longer-term AUM trajectory also remains encouraging. Over the five years ended 2025, AUM rose at a compound annual growth rate of 10%. Average AUM increased to $2.29 trillion in the first half of 2026 from $1.89 trillion in the prior-year period. However, sustained client outflows and unfavorable market movements could weigh on future AUM growth and fee generation, as investment-management revenues are closely linked to assets under management.
IVZ's September AUM Reflects Mixed Performance
Invesco's September AUM performance varied across investment categories. ETFs & Index Strategies AUM declined 1.1% month over month to $774.6 billion. In contrast, QQQ AUM increased 2% to $498.9 billion, highlighting continued strength in the company's flagship exchange-traded product.
Elsewhere, Fundamental Fixed Income AUM fell 2.2% to $307.9 billion, while Fundamental Equities AUM declined 2.7% to $309.1 billion. Private Markets AUM decreased 1.2% to $134.9 billion, and Global Liquidity AUM dropped 2.9% to $261.6 billion. China JV AUM edged down 0.2% to $166.3 billion, while Multi-Asset/Other AUM remained unchanged at $84.5 billion.
The increase in QQQ AUM provided a bright spot amid declines across several investment categories. However, weakness in Global Liquidity, combined with money-market outflows, highlights the challenges Invesco faced in maintaining its overall asset base during September.
Our Take on Invesco's AUM
Invesco's diversified investment capabilities, global distribution network and continued product development support its long-term asset-gathering prospects. Its expansion across private markets and customized investment solutions could help it meet evolving client needs, while continued demand for ETFs and index strategies provides additional growth opportunities.
However, market volatility, client outflows and uneven demand across investment categories could constrain AUM growth. Rising expenses may put pressure on near-term profitability, while revenue-yield sensitivity and substantial goodwill and intangible assets present additional risks.
AUM Performance of Invesco's Peers
Franklin Templeton, Inc. (BEN - Free Report) reported preliminary AUM of $1.79 trillion as of Sept. 30, 2026, down 1.9% sequentially. The decline reflected negative market impacts, partially offset by $6 billion in long-term net inflows.
For the third quarter, Franklin Templeton’s preliminary AUM reflected market pressure partially offset by $21 billion in long-term net inflows.
Likewise, T. Rowe Price Group, Inc.’s (TROW - Free Report) September month-end AUM declined 1.8% from the prior month to $1.86 billion. The fall was mainly driven by net outflows of $12.2 billion, including a large defined contribution target date outflow.
For the third quarter, T. Rowe Price reported $28.3 billion of net outflows.
IVZ’s Price Performance and Zacks Rank
Over the past year, shares of Invesco have rallied 26.7% against the industry’s 10.7% decline.
View the Zacks #1 Rank List
Image: Bigstock
Invesco's AUM Falls in September: Will Growth Momentum Rebound?
Key Takeaways
Invesco Ltd. (IVZ - Free Report) reported preliminary assets under management (AUM) of $2.54 trillion as of Sept. 30, 2026, down 0.9% from August. The decline reflected $1.1 billion in net long-term outflows, $5.7 billion in money-market net outflows and unfavorable market returns, which reduced AUM by $16 billion. Foreign-exchange movements further lowered AUM by $2.7 billion, partly offset by $0.9 billion in reinvested distributions.
During September, Invesco recorded net long-term outflows of $1.1 billion and money-market net outflows of $5.7 billion. Additionally, unfavorable market returns reduced AUM by $16 billion, while foreign-exchange movements had a negative impact of $2.7 billion. However, reinvested distributions added $0.9 billion.
Despite the monthly decline, preliminary average total AUM for the third quarter through Sept. 30 was $2.51 trillion, while average active AUM was $1.25 trillion. Average total AUM was higher than the $2.49 trillion reported for the quarter through Aug. 31, indicating that the company's average asset base remained relatively strong despite September's weakness.
Invesco's longer-term AUM trajectory also remains encouraging. Over the five years ended 2025, AUM rose at a compound annual growth rate of 10%. Average AUM increased to $2.29 trillion in the first half of 2026 from $1.89 trillion in the prior-year period. However, sustained client outflows and unfavorable market movements could weigh on future AUM growth and fee generation, as investment-management revenues are closely linked to assets under management.
IVZ's September AUM Reflects Mixed Performance
Invesco's September AUM performance varied across investment categories. ETFs & Index Strategies AUM declined 1.1% month over month to $774.6 billion. In contrast, QQQ AUM increased 2% to $498.9 billion, highlighting continued strength in the company's flagship exchange-traded product.
Elsewhere, Fundamental Fixed Income AUM fell 2.2% to $307.9 billion, while Fundamental Equities AUM declined 2.7% to $309.1 billion. Private Markets AUM decreased 1.2% to $134.9 billion, and Global Liquidity AUM dropped 2.9% to $261.6 billion. China JV AUM edged down 0.2% to $166.3 billion, while Multi-Asset/Other AUM remained unchanged at $84.5 billion.
The increase in QQQ AUM provided a bright spot amid declines across several investment categories. However, weakness in Global Liquidity, combined with money-market outflows, highlights the challenges Invesco faced in maintaining its overall asset base during September.
Our Take on Invesco's AUM
Invesco's diversified investment capabilities, global distribution network and continued product development support its long-term asset-gathering prospects. Its expansion across private markets and customized investment solutions could help it meet evolving client needs, while continued demand for ETFs and index strategies provides additional growth opportunities.
However, market volatility, client outflows and uneven demand across investment categories could constrain AUM growth. Rising expenses may put pressure on near-term profitability, while revenue-yield sensitivity and substantial goodwill and intangible assets present additional risks.
AUM Performance of Invesco's Peers
Franklin Templeton, Inc. (BEN - Free Report) reported preliminary AUM of $1.79 trillion as of Sept. 30, 2026, down 1.9% sequentially. The decline reflected negative market impacts, partially offset by $6 billion in long-term net inflows.
For the third quarter, Franklin Templeton’s preliminary AUM reflected market pressure partially offset by $21 billion in long-term net inflows.
Likewise, T. Rowe Price Group, Inc.’s (TROW - Free Report) September month-end AUM declined 1.8% from the prior month to $1.86 billion. The fall was mainly driven by net outflows of $12.2 billion, including a large defined contribution target date outflow.
For the third quarter, T. Rowe Price reported $28.3 billion of net outflows.
IVZ’s Price Performance and Zacks Rank
Over the past year, shares of Invesco have rallied 26.7% against the industry’s 10.7% decline.
One-Year Price Performance
Image Source: Zacks Investment Research
Invesco currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.