<!-- Swiftype Variables -->

MONEY MANAGEMENT

Invesco’s assets up despite outflows

Invesco (IVZ) had $834.8 billion in assets under management as of March 31, up 2.7% from Dec. 31 and up 8.2% from March 31, 2016, the company's earnings statement said Thursday.

The company experienced net outflows of $5.3 billion for the first quarter vs. net inflows of $1.1 billion for the fourth quarter and net outflows of $100 million for the first quarter of 2016.

Invesco saw $500 million in net outflows in long-term active strategies during the quarter, compared to net outflows of $1.9 billion during the previous quarter and net inflows of $500 million in the year-earlier quarter. Long-term passive strategies, meanwhile, experienced net inflows of $2.3 billion during the quarter ended March 31 vs. net outflows of $800 million during the previous quarter and net outflows of $1.8 billion in the quarter ended March 31, 2016.

Invesco's PowerShares exchange-traded funds business saw net inflows of $1 billion during the first quarter vs. net inflows of $2.7 billion during the fourth quarter and net outflows of $2.6 billion in the first quarter of 2016.

Invesco's money market business experienced net outflows of $8.1 billion in the quarter vs. net inflows of $1.1 billion in the previous quarter and net inflows of $3.8 billion in the year-earlier quarter.

Revenue for the company was $1.19 billion for the quarter ended March 31, flat from the previous quarter but up 3.8% from the same period a year ago. Net income, meanwhile, was $212 million, down 6.4% from the last quarter but up 31.7% from the year-earlier quarter of 2016.