Invesco Ltd. (NYSE:IVZ) announced an increase in its preliminary month-end assets under management (“AUM”) for May 2017. The company’s AUM came in at $859 billion, up 2.1% from $841.4 billion recorded in the prior month.
The rise reflected favorable market returns, higher Money Market AUM and inflows into PowerShares QQQs and net long-term inflows. Further, FX increased April AUM by $0.9 billion.
Invesco’s preliminary average total AUM for the quarter through May 31 was $843.3 billion while preliminary average active AUM was $687.7 billion.
At the end of the reported month, Invesco’s Equity AUM grew 1.9% from the prior month to $394.5 billion. Further, Fixed Income AUM of $208.4 billion rose 1.2% from $206 billion in Apr 2017.
Additionally, Balanced AUM came in at $51.6 billion, jumping 3.4% from Apr 2017. Alternatives AUM rose marginally from the preceding month to $128.8 billion. Also, Money Market AUM was $75.7 billion, rising 8.1% from the prior month.
In the last three months, shares of Invesco have gained 9.1%, outperforming the Zacks categorized Investment Management industry’s rally of 4.2%.
Apart from Invesco, another investment manager, Franklin Resources, Inc. (NYSE:BEN) , declared preliminary AUM of $744.7 billion by its subsidiaries for May 2017, a slight rise from the prior month. Legg Mason, Inc. (NYSE:LM) came out with its May 2017 AUM of $726.6 billion, down nearly 1% from the prior month.
Currently, Invesco carries a Zacks Rank #3 (Hold).
A better-ranked stock in the same space is Lazard Ltd. (NYSE:LAZ) . The company’s shares have risen 11.9% so far this year. The Zacks Consensus Estimate for the company for the current year was revised nearly 1% upward, in the last 30 days. The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>
Invesco PLC (IVZ): Free Stock Analysis Report
Legg Mason, Inc. (LM): Free Stock Analysis Report
Franklin Resources, Inc. (BEN): Free Stock Analysis Report
Lazard Ltd. (LAZ): Free Stock Analysis Report
Original post
Zacks Investment Research