) recorded a rise in its preliminary month-end assets under
management (AUM) for May. The AUM for the month was $751.8
billion, up 0.4% from $748.5 billion at the end of Apr 2013.
Favorable market returns and a moderately positive escalation in
active and passive long-term inflows were the primary reasons for
the rise. However, foreign exchange led to a $4.7 billion decline
in AUM. At the end of May, Invesco's average assets stood at
$745.6 billion, while the total value of average active assets
was $619.1 billion.
In May, Invesco's preliminary active AUM was $622.6 billion,
reflecting a 0.3% jump from the prior month. As of May 31, 2013,
active AUM included $21.7 billion of balanced and $0.5 billion of
equity AUM related to Atlantic Trust - to be sold to
Canadian Imperial Bank of Commerce
) for $210 million. Further, preliminary passive AUM was $129.2
billion, witnessing a 1.3% increase from the prior-month level.
At May end, Invesco's total equity AUM rose 1.3% to $331.1
billion from $326.7 billion recorded at the end of Apr 2013.
However, fixed income AUM decreased 0.6% from the prior month to
Moreover, Invesco's balanced AUM advanced 0.5% to $73.5 billion.
Its money market AUM amounted to $82.7 billion, rising 1.1% from
the previous month. However, alternatives AUM came in at $86.5
billion in the reported month, falling 1.5% from the prior-month
Among other investment managers,
Franklin Resources Inc
) announced preliminary AUM of $846.5 billion by its subsidiaries
for May, down 0.1% from the prior month. Another investment
Legg Mason Inc
) is expected to announce preliminary AUM for May by the middle
of this month.
Invesco is comfortably positioned due to its broad
diversification strategy. Owing to this, the company will benefit
from enhanced global investment flows. However, the unstable U.S.
dollar, volatile capital market and a sluggish economic recovery,
along with stiff competition, remain concerns.
Currently, Invesco carries a Zacks Rank # 2 (Buy).
FRANKLIN RESOUR (BEN): Free Stock Analysis
CDN IMPL BK (CM): Free Stock Analysis Report
INVESCO LTD (IVZ): Free Stock Analysis Report
LEGG MASON INC (LM): Free Stock Analysis
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