Invesco's (IVZ) AUM Declines On Net Outflows In November

Invesco Ltd. (NYSE:IVZ) announced its preliminary month-end assets under management (“AUM”) for Nov 2016. The company’s AUM came in at $805.6 billion, a slight decline of 0.2% from $807.5 billion recorded in the prior month.

This decline was stemmed by lower money market AUM and net long-term outflows, partly offset by favorable market returns. However, there was a favorable foreign exchange impact of $0.3 billion.

Additionally, Invesco’s preliminary average total AUM for the quarter through Nov 30 was $808.2 billion, while preliminary average active AUM was $666.7 billion.

At the end of November, Invesco’s total Equity AUM inched up 1.4% from the prior month to $359.8 billion. Further, Fixed Income AUM of $202.1 billion edged down nearly 1.8% from the Oct 2016 level.

In addition, Balanced AUM came in at $46.8 billion, declining 1.3% from $47.4 billion recorded in Oct 2016. Also, Alternatives AUM dipped nearly 1.2% from the preceding month to $119.3 billion. Further, money market AUM was recorded at $77.6 billion, down 1.5% from the prior month.

Apart from Invesco, another investment manager, Franklin Resources Inc. (NYSE:BEN) , declared preliminary AUM of $714.4 billion by its subsidiaries for Nov 2016, a 1.2% decline from the prior month. Notably, Legg Mason, Inc. (NYSE:LM) is expected to release preliminary AUM results for Nov 2016 in the coming days.

Invesco currently carries a Zacks Rank #4 (Sell). The company’s stock has declined around 3.5% so far this year, underperforming the 8.1% growth for the Zacks categorized Investment Management industry.

A better-ranked stock in the same space is Virtus Investment Partners, Inc. (NASDAQ:VRTS) , sporting a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here. The company’s shares have gained over 4.2% so far this year. The Zacks Consensus Estimate for the stock climbed 9.3% to $5.75, over the last 60 days, for the current year.

Zacks’ Best Private Investment Ideas

In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?

Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>