Invesco (IVZ - Free Report) has announced its assets under management (AUM) for April 2019. The company’s preliminary month-end AUM of $975.2 billion increased 2.1% from the prior month.
This growth was primarily driven by favorable market returns, increase in money market AUM, non-management fee earning AUM inflows, net long-term inflows and reinvested distributions. However, unfavorable foreign-exchange movement brought down the month’s AUM by $0.4 billion.
Invesco’s preliminary average total AUM for the quarter through Apr 30 was $968.9 billion, while preliminary average active AUM totaled $711.4 billion.
At the end of the reported month, Invesco’s Equity AUM increased 3.6% sequentially to $445.9 billion. Also, Money Market AUM of $98.5 billion increased marginally from the prior month. Further, Alternatives AUM inched up 1% sequentially to $139.4 billion.
Balanced AUM and Fixed Income AUM for April came in at $50.9 billion and $240.5 billion, respectively. Both figures increased 1.4% from the prior month.
Improving AUM balance, strategic acquisitions and increasing global presence augurs well for the company’s prospects.
Over the past three months, shares of Invesco have gained 18% compared with the 7.3% rise recorded by the industry.
Invesco currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $63.1 billion as of Apr 30, 2019, up nearly 1% from the prior-month level. Market appreciation of $178 million and net inflows of $428 million aided this upswing.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $720.5 billion for April 2019. Results display 1.2% growth from the $712.3 billion recorded as of Mar 31, 2019. Net market gains, partially offset by net outflows, led to this upside.
T. Rowe Price Group, Inc. (TROW - Free Report) too is expected to report monthly numbers soon.
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