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Invesco's (IVZ) May AUM Improves 2.1% on Favorable Market
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Invesco (IVZ - Free Report) recently announced assets under management (AUM) for May 2020. The company’s preliminary month-end AUM of $1,142.5 billion represents a 2.1% increase from the previous month.
The rise was driven by favorable market returns, which in turn led to an increase in AUM by $33 billion. However, FX lowered AUM by $1.4 billion.
Overall net long-term outflows were $4.2 billion and money market net outflows were $5.0 billion. Conversely, non-management fee earning net inflows were $1.5 billion.
Invesco’s preliminary average total AUM for the quarter through May was $1,101.5 billion and preliminary average active AUM totaled $838.3 billion.
At the end of the reported month, the company’s Equity AUM increased 4.5% from the prior month to $532.9 billion. Balanced AUM for April was $59.9 billion, up 4% sequentially.
Also, Alternatives AUM grew 1.2% from the prior month to $169 billion. Fixed Income AUM of $261.9 billion also rose 0.8% from the previous month. However, Money Market AUM declined 4.3% from the prior month to $118.8 billion.
Improving AUM balance, strategic acquisitions and increasing global presence augur well for the company’s prospects. However, coronavirus-related concerns remain a major headwind.
Shares of Invesco have lost 38% so far this year compared with a 0.2% decline recorded by the industry.
AllianceBernstein (AB - Free Report) announced preliminary AUM of $596 billion for May, which increased 3.5% from the prior month. Market appreciation and total firm-wide net inflows were primarily attributed to the rise.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $63.8 billion as of May 31, 2020, which increased 2.7% from the prior-month level. Market appreciation of $1.4 billion and net inflows of $428 million were partially offset by distributions of $199 million.
Franklin Resources’ (BEN - Free Report) preliminary month-end AUM balance as of May 31, 2020 increased 3% sequentially to $617.6 billion. This was largely driven by strong market performance and lower net outflows.
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Invesco's (IVZ) May AUM Improves 2.1% on Favorable Market
Invesco (IVZ - Free Report) recently announced assets under management (AUM) for May 2020. The company’s preliminary month-end AUM of $1,142.5 billion represents a 2.1% increase from the previous month.
The rise was driven by favorable market returns, which in turn led to an increase in AUM by $33 billion. However, FX lowered AUM by $1.4 billion.
Overall net long-term outflows were $4.2 billion and money market net outflows were $5.0 billion. Conversely, non-management fee earning net inflows were $1.5 billion.
Invesco’s preliminary average total AUM for the quarter through May was $1,101.5 billion and preliminary average active AUM totaled $838.3 billion.
At the end of the reported month, the company’s Equity AUM increased 4.5% from the prior month to $532.9 billion. Balanced AUM for April was $59.9 billion, up 4% sequentially.
Also, Alternatives AUM grew 1.2% from the prior month to $169 billion. Fixed Income AUM of $261.9 billion also rose 0.8% from the previous month. However, Money Market AUM declined 4.3% from the prior month to $118.8 billion.
Improving AUM balance, strategic acquisitions and increasing global presence augur well for the company’s prospects. However, coronavirus-related concerns remain a major headwind.
Shares of Invesco have lost 38% so far this year compared with a 0.2% decline recorded by the industry.
Currently, the company carries 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
AllianceBernstein (AB - Free Report) announced preliminary AUM of $596 billion for May, which increased 3.5% from the prior month. Market appreciation and total firm-wide net inflows were primarily attributed to the rise.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $63.8 billion as of May 31, 2020, which increased 2.7% from the prior-month level. Market appreciation of $1.4 billion and net inflows of $428 million were partially offset by distributions of $199 million.
Franklin Resources’ (BEN - Free Report) preliminary month-end AUM balance as of May 31, 2020 increased 3% sequentially to $617.6 billion. This was largely driven by strong market performance and lower net outflows.
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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 +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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