) recorded a rise in its preliminary month-end assets under
management (AUM) for March. The AUM for the month was $729.3
billion, up 2.2% from $713.8 billion at the end of Feb 2013.
Favorable market returns as well as a hike in active and passive
long-term inflows were the primary reasons for the rise. Yet,
foreign exchange led to a $0.1 billion decline in AUM. At the end
of March, Invesco's average assets stood at $712.7 billion, while
the total value of average active assets was $592.6 billion.
In March, Invesco's preliminary active AUM was recorded at $606.2
billion, reflecting a 2.2% jump from $593.0 billion in the prior
month. Similarly, preliminary passive AUM was $123.1 billion,
witnessing a 1.9% increase from the earlier month level.
At the end of March, Invesco's total equity AUM rose 2.6% to
$319.5 billion from $311.3 billion recorded at the end of Feb
2013. Further, fixed income AUM showed a marginal increase of
0.6% from the prior month to $175.9 billion.
Moreover, Invesco's balanced AUM advanced 5.5% to $70.5 billion
from $66.8 billion in the preceding month. Likewise, money market
AUM summed up to $77.8 billion, rising 1.6% from the previous
month. Also, alternatives AUM came in at $85.6 billion in the
reported month, improving 1.5% from the prior month's level.
Among other investment managers,
Franklin Resources Inc.
) announced preliminary AUM of $823.7 billion by its subsidiaries
for March, up 1.2% from the prior month. Another investment
Legg Mason Inc.
) is expected to announce preliminary AUM for March later this
Invesco's broad diversification strategy positions it comfortably
to benefit from enhanced global investment flows. However, the
unstable U.S. dollar, volatile equity markets and a sluggish
economic recovery, along with mounting competition, make us
Invesco is expected to announce its first quarter results on Apr
30. The Zacks Consensus Estimate for the quarter is pegged at 47
cents per share. The Zacks Earnings ESP (Read:
Zacks Earnings ESP: A Better Method
) for Invesco is 0.00% for the first quarter. This, along with
its Zacks Rank #2 (Buy), makes us confident for a likely positive
Among other asset managers,
) is likely to deliver a positive earnings surprise this quarter
as our model shows it has the right combination of elements - an
Earnings ESP of +1.11% and a Zacks Rank #2.
FRANKLIN RESOUR (BEN): Free Stock Analysis
BLACKROCK INC (BLK): Free Stock Analysis
INVESCO LTD (IVZ): Free Stock Analysis Report
LEGG MASON INC (LM): Free Stock Analysis
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