Invesco's (IVZ) November AUM Declines Slightly on Outflows
Invesco IVZ announced its assets under management (AUM) for November 2018. The company’s preliminary month-end AUM of $926 billion fell less than 0.1% from the prior month.
Net long-term outflows and non-management fee earning AUM outflows were the primary reasons behind the decline in total AUM. These were partially offset by favorable market returns, higher money market AUM and reinvested distributions. Also, foreign exchange increased the month’s AUM by $0.2 billion.
Invesco’s preliminary average total AUM for the quarter through Nov 30 was $935.4 billion while preliminary average active AUM totaled $696.7 billion.
At the end of the reported month, Invesco’s Fixed Income AUM decreased 1.1% from October 2018 to $223.5 billion. Also, Alternatives AUM fell 1.2% sequentially to $137.9 billion. Further, Balanced AUM of $52.8 billion decreased 1.9% from the prior month.
However, Equity AUM grew nearly 1% sequentially to $420.2 billion. Also, Money Market AUM of $91.6 billion increased 3.2%.
Steady decline in AUM over the past few months is a major concern. This will likely hamper revenue growth to some extent. All these matters seem to be dampening investors’ sentiments at present.
So far this year, shares of Invesco have plunged 50.9% compared with 25.9% decline recorded by the industry.
Invesco currently has 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 reported preliminary AUM of $58.6 billion as of Nov 30, 2018, up 1.3% from the prior-month level. Market appreciation of $1.5 billion was partially offset by outflows of $530 million and distributions of $198 million.
Franklin Resources BEN announced preliminary AUM by its subsidiaries of $683.3 billion for November. Results reflect a marginal improvement from $682.7 billion recorded as of Oct 31. The rise was primarily driven by net market gains.
T. Rowe Price Group, Inc. TROW is expected to come out with its monthly numbers soon.
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