Invesco's May AUM Up 1.4% M/M - Analyst Blog


Invesco Ltd. ( IVZ ) reported a rise in preliminary month-end assets under management (:AUM) for May 2014. The AUM for the month was $790.1 billion, up 1.4% from $779.4 billion at the end of Apr 2014.

Net long-term inflows, positive flows in PowerShares QQQ's shares and favorable market returns were the primary reasons behind the improvement. However, foreign exchange led to a $0.6 billion drop in AUM. In May, Invesco's preliminary average total AUM was $780.6 billion and preliminary average active AUM was $640.1 billion.

At May end, Invesco's total equity AUM climbed 2.1% from the prior month to $386.4 billion. Further, balanced AUM was $51.1 billion, up 2.6% from $49.8 billion at the end of Apr 2014.

Invesco's fixed income AUM edged up 0.7% from the prior month to $180.3 billion. Alternative AUM came in at $95.3 billion, inching up 0.8% from the previous month. However, the company's money market AUM declined 1.0% from Apr 2014 level to $77.0 billion.

Among other investment managers, Franklin Resources Inc. ( BEN ) announced preliminary AUM of $908.3 billion by its subsidiaries for May 2014, marking a 1.4% rise from $895.4 billion as of Apr 2014. Additionally, Legg Mason Inc. ( LM ) is expected to report preliminary AUM for May 2014 later this week.

Driven by cost-control initiatives, Invesco's operating leverage is likely to improve significantly over the long term. Further, rebound in the equity market and improvement in global investment flows will act as catalysts. Even so, the company's high debt level and rising expenses remain matters of concern.

Currently, Invesco carries a Zacks Rank #3 (Hold). A better-ranked asset manager is Cohen & Steers Inc. ( CNS ) sporting a Zacks Rank #1 (Strong Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Business , Stocks

Referenced Stocks: IVZ , LM , BEN , CNS

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