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Invesco August AUM Down on Weak Market & Negative FX Movement
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Invesco (IVZ - Free Report) has announced its assets under management (AUM) for August 2019. The company’s preliminary month-end AUM of $1,175.1 billion decreased 2% from the prior month.
This decline primarily stemmed from net long-term outflows, reduced money market AUM, foreign exchange, non-management fee earning AUM outflows and unfavorable market returns. These were partly offset by reinvested distributions. Notably, unfavorable foreign-exchange movement reduced the month’s AUM by $2.2 billion.
Invesco’s preliminary average active AUM for August was $905.3 billion, while preliminary average passive AUM totaled $269.8 billion.
At the end of the reported month, the company’s Equity AUM decreased 3.6% from the prior month to $552.3 billion. Also, Alternatives AUM decreased slightly to $185.9 billion.
Balanced AUM and Money Market AUM for August were $63.5 billion and $96.7 billion, decreasing 1.9% and 2.5%, respectively. However, Fixed Income AUM of $276.7 billion increased slightly from the prior month.
Though strategic acquisitions and expanding global presence augur well for the company’s prospects, decrease in overall AUM is a concern.
Shares of the company have gained around 5% year to date compared with 14.4% growth recorded by the industry.
Franklin Resources (BEN - Free Report) also announced preliminary AUM by its subsidiaries of $690.6 billion for August. Results display 2.7% decrease from the $709.5 billion recorded as of Jul 31, 2019. Slight net outflows and net market declines led to this downside. Further, the reported figure went down 4.4% year on year.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $69.6 billion as of Aug 31, 2019, up 3% from the prior-month level of $67.5 billion. Market appreciation of $2 billion and net inflows of $240 million were partly offset by distributions of $186 million.
T. Rowe Price Group, Inc. (TROW - Free Report) is expected to report its monthly numbers soon.
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Invesco August AUM Down on Weak Market & Negative FX Movement
Invesco (IVZ - Free Report) has announced its assets under management (AUM) for August 2019. The company’s preliminary month-end AUM of $1,175.1 billion decreased 2% from the prior month.
This decline primarily stemmed from net long-term outflows, reduced money market AUM, foreign exchange, non-management fee earning AUM outflows and unfavorable market returns. These were partly offset by reinvested distributions. Notably, unfavorable foreign-exchange movement reduced the month’s AUM by $2.2 billion.
Invesco’s preliminary average active AUM for August was $905.3 billion, while preliminary average passive AUM totaled $269.8 billion.
At the end of the reported month, the company’s Equity AUM decreased 3.6% from the prior month to $552.3 billion. Also, Alternatives AUM decreased slightly to $185.9 billion.
Balanced AUM and Money Market AUM for August were $63.5 billion and $96.7 billion, decreasing 1.9% and 2.5%, respectively. However, Fixed Income AUM of $276.7 billion increased slightly from the prior month.
Though strategic acquisitions and expanding global presence augur well for the company’s prospects, decrease in overall AUM is a concern.
Shares of the company have gained around 5% year to date compared with 14.4% growth recorded by the industry.
Currently, Invesco 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
Franklin Resources (BEN - Free Report) also announced preliminary AUM by its subsidiaries of $690.6 billion for August. Results display 2.7% decrease from the $709.5 billion recorded as of Jul 31, 2019. Slight net outflows and net market declines led to this downside. Further, the reported figure went down 4.4% year on year.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $69.6 billion as of Aug 31, 2019, up 3% from the prior-month level of $67.5 billion. Market appreciation of $2 billion and net inflows of $240 million were partly offset by distributions of $186 million.
T. Rowe Price Group, Inc. (TROW - Free Report) is expected to report its monthly numbers soon.
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
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