Invesco on Thursday reported assets under management of $672.8 billion as of March 31, up 7.6% from the prior quarter and up 4.8% from the year before.
The company reported net inflows of $8.1 billion for the quarter, up from $6 billion in the prior quarter but down from $9.2 billion for the year-earlier period.
Long-term strategies accounted for $7 billion of those total inflows for the quarter, with money market strategies pulling in an additional $1.1 billion.
Market- and currency-related gains, meanwhile, lifted AUM by $39.4 billion during the quarter.
Speaking at a news conference about the company's latest results, Martin L. Flanagan, president and CEO, said Invesco enjoyed client interest for a broad range of the company's offerings, led by Invesco's Balanced-Risk Allocation risk-parity strategy, real estate, commodities and stable value strategies, as well as its ETFs.
The latest inflow figures would have been even larger were it not for the anticipated $1.4 billion liquidation of the Public-Private Investment Program strategy Invesco was managing for the U.S. Treasury, as well as the liquidation of a $1 billion lower-fee fixed-income mandate by an institutional client that shifted management of those assets in-house, Mr. Flanagan said. He didn't identify the client.
For the quarter, the company's passive offerings saw net inflows of $7.9 billion, offset by $900 million of outflows from Invesco's active strategies. By quarter's end, passive strategies accounted for $112.6 billion, or 16.7%, of Invesco's AUM, up from 15.4% of overall AUM at the end of the prior quarter.
Net income attributable to common shareholders, by GAAP financial accounting, came to $193.9 million for the latest quarter, down 4.2% from the prior quarter but up 9.2% from the year before.
Operating revenue, meanwhile, came to $1.03 billion, up 3.7% from the prior quarter and up 0.6% from the year before.
