Invesco August AUM Down On Weak Market & Negative FX Movement
Zacks Investment Research | Sep 11, 2019 09:46PM ET
Invesco (NYSE:IVZ) 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 Zacks Investment Research
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