See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Franklin Resources, Inc. (BEN) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Franklin Resources, Inc. (BEN) - free report >>
Image: Bigstock
Invesco's AUM for May Rises on Higher Money Market Assets
Invesco Ltd. (IVZ - Free Report) announced its preliminary month-end assets under management (“AUM”) for May 2016 which came in at $791.1 billion, up 0.9% from $783.7 billion recorded in the prior month.
The rise was driven by favorable market returns, net long-term inflows and improved money market AUM. However, these positives were partly offset by unfavorable foreign exchange impact of $2.9 billion and outflows in PowerShares QQQ.
Notably, Invesco’s preliminary average total AUM for the quarter through May 31 was $782.2 billion, while preliminary average active AUM was $651.2 billion.
At May end, Invesco’s total Equity AUM inched up 0.5% from the prior month to $360.1 billion. Also, Fixed Income AUM came in at $194.5 billion, up 1% from $192.6 billion at the end of Apr 2016.
Moreover, Balanced AUM came in at $47.9 billion, relatively stable with the Apr 2016 level. Also, Alternatives AUM rose 0.4% from the preceding month to $113.1 billion. Further, money market AUM was recorded at $75.5 billion, up 4.6% from the prior month.
Apart from Invesco, another investment manager, Franklin Resources Inc. (BEN - Free Report) declared preliminary AUM of $737.3 billion by its subsidiaries for May 2016, reflecting a 1.3% fall from the prior month. Notably, Legg Mason, Inc. is expected to release preliminary AUM results for May 2016 within the next few days.
Currently, Invesco carries a Zacks Rank #3 (Hold). A better-ranked asset manager is SEI Investments Co. (SEIC - Free Report) , sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>