Invesco on Thursday reported $625.3 billion in assets under management as of Dec. 31, up 4.5% from the prior quarter and 1.4% higher than the year before.
For the latest quarter, Invesco reported net inflows of $6 billion and market-related gains of $20.8 billion.
The net inflows were up from $2.2 billion for the prior quarter. In the year-earlier quarter, Invesco reported net outflows of $18.6 billion, largely reflecting the loss of a passive institutional mandate of the same size that had come to Invesco as part of a 2009 deal to buy Morgan Stanley's Van Kampen retail business.
Speaking to analysts Thursday about the latest results, Invesco executives noted that passive offerings — including ETFs — accounted for all of Invesco's long-term net inflows for the latest quarter.
Aside from $400 million in money market inflows, the remaining $5.6 billion was for long-term strategies, reflecting $5.8 billion for Invesco's ETF, unit investment trusts and passive strategies — offset partially by outflows of $200 million from actively managed strategies.
Loren M. Starr, Invesco's CFO, told analysts though it's still early, there have been signs of growing investor interest in active products since the start of 2012, with 30% of Invesco's won but not yet funded institutional mandates in active equity strategies.
For the latest quarter, net income attributable to common shareholders came to $202.3 million, up 21% from the prior quarter and up 16% from the year before. Operating revenues came to $997.1 million, little changed from the prior quarter but down 3.1% from the year before.