Invesco's (IVZ) January AUM Increases 1.5% on Favorable FX

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

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

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