Invesco Ltd. IVZ announced its preliminary month-end assets under management (“AUM”) for Jan 2017. It came in at $825.3 billion, up 1.5% from $812.9 billion recorded in the prior month.
The rise was driven by favorable market returns, foreign exchange (FX) and net long-term inflows. These were partly offset by lower money market AUM and outflow in PowerShares QQQs. FX impact added $3.6 billion to AUM.
Additionally, Invesco’s preliminary average total AUM for the quarter through Jan 31 was $822.5 billion, while preliminary average active AUM was $674.6 billion.
At the end of January, Invesco’s total Equity AUM grew 2% from the prior month to $374.3 billion. Further, Fixed Income AUM of $201.9 billion rose 1.6% from the Dec 2016 level.
In addition, Balanced AUM came in at $47.9 billion, increasing 2.4% from the Dec 2016 figure. Also, Alternatives AUM increased nearly 2.3% from the preceding month to $124.89 billion. However, money market AUM was recorded at $79.4 billion, down 2.3% from the prior month.
Invesco currently carries a Zacks Rank #3 (Hold). The company’s stock gained around 24.2% over the last year, underperforming the 31% gain for the Zacks categorized Investment Management industry.
Apart from Invesco, another investment manager, Franklin Resources Inc. BEN, declared preliminary AUM of $728.8 billion by its subsidiaries for Jan 2017, a 1.2% rise from the prior month. Further, Legg Mason, Inc. LM is likely to come out with its monthly AUM data soon.
A better-ranked stock in the same space is Apollo Global Management, LLC APO. The company’s shares jumped nearly 87% over the last one year. The Zacks Consensus Estimate for the stock also increased 11.4% for 2017, over the last 30 days. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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