Invesco's (IVZ) July AUM Rises On Higher Money Market Assets
Zacks Investment Research | Aug 13, 2019 07:21AM ET
Invesco (NYSE:IVZ) has announced its assets under management (AUM) for July 2019. The company's preliminary month-end AUM of $1,198.7 billion increased slightly from the prior month.
The rise was mainly driven by non-management fee earning AUM inflows, favorable market returns, increase in money market AUM and reinvested distributions. These were partly offset by net long-term outflows. Also, foreign-exchange movement lowered the month's AUM by $4.6 billion.
Invesco's preliminary average total AUM through Jul 31 was $1,202.8 billion while preliminary average active AUM totaled $929.7 billion.
At the end of the month, the company's Equity AUM decreased marginally to $572.9 billion from June. Also, Alternatives AUM declined 1.2% to $187.6 billion.
However, Balanced AUM and Fixed Income AUM for July were $64.7 billion and $274.3 billion, increasing nearly 1% and 0.3%, respectively. Also, Money Market AUM of $99.2 billion grew 3.7% sequentially.
Improving AUM balance, strategic acquisitions and increasing global presence augur well for the company's prospects.
The stock has lost 4.1% so far this year against 10.7% growth recorded by the Zacks Investment Research
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