Invesco Ltd. (IVZ - Free Report) reported preliminary month-end assets under management (AUM) of $987.8 billion for July 2018. The figure reflects a rise of 2.5% from the prior month.
This improvement was mainly driven by favorable market returns, increase in money market AUM, full consolidation of the Invesco Great Wall joint venture and reinvestment of distributions. These were partially offset by net long-term outflows and non-management fee earning AUM outflows. Further, FX negatively impacted July AUM by $1.2 billion.
Excluding the full consolidation of the Invesco Great Wall, AUM grew 1.6% month over month.
Invesco’s preliminary average total AUM for the quarter through Jul 31 was $986.1 billion while preliminary average active AUM came in at $739.9 billion.
At the end of the reported month, Invesco’s Equity AUM increased2.6% from the previous month to $458.6 billion. Further, Fixed Income AUM of $236.1 billion rose 1.5% sequentially. Moreover, Money Market AUM was $89.5 billion, up11.3% from June 2018.
Additionally, Balanced AUM of $59.2 billion increased 3.1% from the prior month. However, Alternatives AUM decreased 1% sequentially to $144.4 billion.
While the company has been witnessing continued growth in AUM for the past few years, supporting revenue growth, an overall challenging operating environment seems to be weighing on investors’ mind, at present.
Invesco currently carries a Zacks Rank #5 (Strong Sell). So far this year, shares of the company have lost 30.2% compared with the industry’s decline of 8.1%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $733.7 billion for July. Results reflect growth of 1.3% from $724.1 billion recorded as of Jun 30. The rise was primarily driven by market gains, partially offset by net outflows.
Also, Cohen & Steers (CNS - Free Report) reported preliminary AUM of $60.5 billion as of Jul 31, 2018, up almost 1% from the prior-month level. Market appreciation of $653 million was partially offset by net outflows of $72 million and distributions of $261 million.
Waddell & Reed Financial, Inc. (WDR - Free Report) reported preliminary AUM of $79.2 billion as of Jul 31, 2018, up nearly 1% from the prior month.
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