Yahoo Finance Invesco (IVZ) November AUM Rises 5.7% on Favorable Markets
Invesco IVZ announced preliminary assets under management (AUM) for November 2022. The company’s month-end AUM of $1,437.9 billion represented an increase of 5.7% from the previous month.
AUM was positively impacted by favorable market returns, which increased it by $55 billion. The company experienced net long-term inflows of $1.3 billion and non-management fee-earning net inflows of $3.7 billion. Money market net inflows were $8 billion.
Because of foreign exchange rate movements, AUM increased $9.4 billion.
Invesco’s preliminary average total AUM in the quarter through Nov 30 was $1,375.5 billion and preliminary average active AUM summed $939.2 billion.
At the end of the reported month, the company’s Equity AUM was $676.8 billion, up 8% from the previous month. Alternatives AUM increased 2.1% sequentially to $191.9 billion.
Money Market AUM improved 4.9% from the prior-month end to $191.1 billion. Balanced AUM for November was $67.3 billion, increasing 7.9% from the October 2022 end. Fixed Income AUM of $311.8 billion was up 3.1%.
Invesco’s strong global presence, solid AUM balance and initiatives to capitalize on investors’ demand for different investment strategies poise it well for growth.
However, despite the cost-saving efforts, the company’s expenses have been elevated due to its inorganic growth initiatives and investments in franchise. Higher costs will likely hurt profitability to an extent in the near term.
Over the past year, shares of Invesco have lost 16.8% compared with a decline of 19.5% of the industry.
Image Source: Zacks Investment Research
Currently, Invesco carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Franklin Resources BEN reported preliminary AUM of $1,410.6 billion for November 2022. This indicated a rise of 7% from the Oct 31, 2022, level.
For Franklin, the increase in the reported month’s AUM reflected the impact of positive markets and the acquisition of Alcentra, partially offset by long-term net outflows.
AllianceBernstein Holding L.P.’s AB AUM of $658 billion for November 2022 represented a rise of 4.9% from $627 billion recorded at the end of the prior month. AB’s AUM increase was driven by market appreciation, partially offset by net outflows in each channel.
AllianceBernstein’s global reach and solid asset balances are likely to continue to boost top-line growth.
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