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Invesco's (IVZ) April AUM Rises Marginally on Favorable Markets

Invesco IVZ announced preliminary assets under management (AUM) for April 2023. The company’s month-end AUM of $1,484.3 billion represented a marginal increase from the previous month.

AUM was positively impacted by favorable market returns, which increased it by $5 billion. Money market net inflows were $1.4 billion. The company experienced net long-term outflows of $2.2 billion and non-management fee-earning net outflows of $2.1 billion.Owing to foreign exchange rate movements, AUM decreased $0.4 billion.

Invesco’s preliminary average total AUM in the quarter through Apr 30 was $1,469.4 billion and its preliminary average active AUM came in at $992 billion.

At the end of the reported month, the company’s Equity AUM was $696.7 billion, marginally up from the previous month. Fixed Income AUM of $322.2 billion was slightly up. On the other hand, Money Market AUM improved marginally from the prior-month end to $212.8 billion.

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Alternatives AUM was marginally down to $185.6 billion.  Balanced AUM for April was $67 billion, falling 1.3% from the March 2023-end.

Invesco’s strong global presence, solid AUM balance and initiatives to capitalize on investors’ demand for different investment strategies poise it well for growth. However, despite the cost-saving efforts, the company’s expenses have been increased , which will likely hurt profitability to some extent.

Over the past six months, shares of Invesco have lost 18.1% compared with the 14.4% decline recorded by the industry.

 

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Currently, Invesco carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Competitive Landscape

Franklin Resources BEN reported preliminary AUM of $1,420.7 billion for April 2023. This indicated a marginal fall from the Mar 31, 2023 level.

For Franklin, the AUM balance reflected the favorable impact of markets and the flat long-term net inflows, which included a low-fee $3.2 billion equity mandate. These were more than offset by cash management net outflows.

Cohen & Steers CNS reported preliminary AUM of $80.9 billion as of Apr 30, 2023, which reflects an increase of 1.3% from the prior-month level. Market appreciation of $1.3 billion supported the rise, which was partially offset by net outflows of $86 million and distributions of $185 million.

CNS recorded total institutional accounts of $33.2 billion at the end of April 2023, increasing 2% from the March-end level. Of the total institutional accounts, advisory accounts were $18.9 billion, while the rest were sub-advisory.

Closed-end funds were $11 billion, marginally increasing from the March 2023 level. Also, Cohen & Steers recorded $36.7 billion in open-end funds, witnessing a slight rise from the prior month.

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