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Invesco's April AUM Improves on Favorable Market & Inflows

Invesco IVZ announced its assets under management (AUM) for April 2020. The company’s preliminary month-end AUM of $1,118.6 billion represents a 6.2% increase from the previous month.

The rise was driven by favorable market returns, which led to an increase in AUM by $63 billion. Further, FX increased AUM by $2.1 billion.

It reported net inflows of $0.4 billion, driven by a $5.8-BILLION increase in money market AUM and net long-term inflows of $1.6 billion in the institutional business. Overall net long-term outflows were $4.9 billion and non-management fee earnings outflows were $0.6 billion.

Invesco’s preliminary average total AUM for the quarter through February was $1,084.4 billion and preliminary average active AUM totaled $829.1 billion.

At the end of the reported month, the company’s Equity AUM increased 11% from the prior month to $510.1 billion. Balanced AUM for April was $57.6 billion, up 5.7% sequentially.

Also, Alternatives AUM grew almost 3% from the prior month to $167 billion. Further, Money Market AUM rose 5.6% from the prior month to $124.1 billion. Fixed Income AUM of $259.8 billion remained stable from the previous month.

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 58.1% so far this year compared with a 15% decline recorded by the industry.

Currently, the company carries a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

AllianceBernstein AB announced preliminary AUM of $576 billion for April 2020, up 6.3% from the prior month. The increase was largely attributed to market appreciation and net inflows.

Cohen & Steers CNS reported preliminary AUM of $62.1 billion as of Apr 30, 2020, increasing 8.3% from the prior-month level. Market appreciation of $4.2 billion and net inflows of $744 million were partially offset by distributions of $198 million.

Franklin Resources BEN reported a rise in preliminary month-end AUM balance. The company’s AUM balance as of Apr 30, 2020 increased 3.3% sequentially to $599.4 billion. The rise was largely driven by strong market performance and increase in net outflows.

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