Invesco reported $980.9 billion in assets under management as of Sept. 30, up 1.8% from June 30 and up 6.9% from a year prior, according to the company's third-quarter earnings results released Thursday.
Invesco reported net outflows of $4.9 billion for the third quarter, compared to net outflows of $6.2 billion for the second quarter and net inflows of $10.4 billion in the third quarter of 2017.
The firm's long-term active strategies had $11.2 billion in net outflows for the most recent quarter, compared with net outflows of $8 billion during the previous quarter, and net inflows of $4.1 billion for the quarter ended Sept. 30, 2017. Long-term passive strategies experienced $300 million in net outflows, compared to $400 million in net inflows during the quarter ended June 30 and net inflows of $1.3 billion in the quarter ended Sept. 30, 2017.
Invesco's institutional money market business experienced $3.1 billion in net inflows during the quarter vs. net inflows of $900 million in the previous quarter and net inflows of $5.4 billion in the year-earlier quarter.
Non-management fee-earnings AUM, which includes Invesco's PowerShares ETF business, saw net inflows of $3.2 billion during the third quarter, compared to net inflows of $900 million during the second quarter and net inflows of $900 million in the third quarter last year.
Net revenue was $1.36 billion for the second quarter, down 1.4% from the previous quarter but up 0.3% from the same period a year prior. Net income, meanwhile, was $269.6 million, up 10% from the quarter ended June 30 and up 0.8% from the third quarter of 2017.
Invesco also announced on Thursday it has agreed to acquire OppenheimerFunds from Massachusetts Mutual Life Insurance Co. The deal, which is expected to close in the second quarter of 2019, will bring Invesco's total AUM to more than $1.2 trillion.
