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Invesco May AUM Up on OppenheimerFunds Deal and Net Inflows

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Invesco (IVZ - Free Report) announced its assets under management (AUM) for May 2019. The company’s preliminary month-end AUM of $1,159.3 billion increased 18.9% from the prior month.

This growth was primarily driven by the acquisition of the OppenheimerFunds along with modest net long-term inflows and reinvested distributions. These were partly offset by unfavorable market returns, decline in money market AUM and non-management fee earning AUM outflows. Unfavorable foreign-exchange movement brought down the month’s AUM by $3.7 billion.

Excluding the OppenheimerFunds acquisition, AUM for May 2019 was $937 billion, down 3.9% from the April 2019 level.

Invesco’s preliminary average total AUM for the quarter through May 31 was $990.2 billion while preliminary average active AUM totaled $732.5 billion.

At the end of the reported month, the company’s Equity AUM increased 27.3% sequentially to $543 billion. Also, Alternatives AUM increased 13% sequentially to $189.3 billion.

Balanced AUM and Fixed Income AUM for May were $61.7 billion and $269 billion, increasing 2.2% and 20.4%, respectively. However, Money Market AUM of $96.3 billion decreased 1.1% from the prior month.

Improving AUM balance, strategic acquisitions and increasing global presence augur well for the company’s prospects.

Over the past six months, shares of the company have gained 19.5% compared with 12.1% growth recorded by the industry.

Invesco currently carries a Zacks Rank #3 (Hold). 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 $62.9 billion as of May 31, 2019, down marginally from the prior-month level of $63.1 billion. Market appreciation of $264 million was more than offset by net outflows of $228 million and distributions of $207 million.

Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $695 billion for May 2019, down 3.5% from $720.5 billion recorded as of Apr 30, 2019. Market declines and modest outflows led to this downside.

T. Rowe Price Group, Inc. (TROW - Free Report) is expected to report monthly numbers soon.

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