Invesco Ltd.’s (IVZ) preliminary month-end assets under management (“AUM”) witnessed a decline for the month of Dec 2014. The AUM came in at $792.4 billion, down 1.4% from the previous month.
The decline in AUM was owing to unfavorable market returns and net outflows in PowerShares QQQ’s. Foreign exchange led to a further decline of $1.6 billion in AUM during the month.
Invesco’s preliminary average total AUM for December was recorded at $789.8 billion, while preliminary average active AUM stood at $647.6 billion.
At December end, Invesco’s total equity AUM fell 2.6% from the prior month to $384.4 billion. Also, balanced AUM came in at $50.6 billion, down 1.9% from $51.6 billion at the end of Nov 2014.
Invesco’s money market AUM and fixed income AUM were relatively flat compared to the Nov 2014 level. Money market AUM was recorded at $76.5 billion as against $76.8 billion in the previous month, while the fixed Income AUM came in at $181.6 billion as against $181.9 billion reported in the previous month.
On the other hand, Alternatives AUM, which came in at $99.3 billion, saw a slight increase from the previous month level of $98.7 billion.
Invesco's high debt level and escalating operating expenses continue to be the major concerns. However, the company remains well positioned to benefit from the improvement in global investment flows. Also, a rebound in the equity markets will act as a positive catalyst.
Among other investment managers, Pzena Investment Management, Inc. (PZN) reported Dec AUM of $27.7 billion, up 1.5% from the previous month, whereas Artisan Partners Asset Management Inc. (APAM) Dec AUM came in at $107.9 billion, down 1.5% from the previous month.
Currently, Invesco carries a Zacks Rank #4 (Sell). A better-ranked investment manager is Affiliated Managers Group Inc. (AMG), sporting a Zacks Rank #1 (Strong Buy).
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