Skip to main content
MENU
Subscribe
  • Sign Up Free
  • LOGIN
  • Subscribe
  • Topics
    • Alternatives
    • Artificial Intelligence
    • Consultants
    • Defined Contribution
    • ESG
    • ETFs
    • Face to Face
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Regulation
    • SECURE 2.0
    • Special Reports
    • Washington
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Influential Women in Institutional Investing 2023
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • ESG Investing | Industry Brief
    • Innovation in ESG Investing
    • 2023 ESG Investing Conference
    • ESG Rated ETFs
    • Divestment Database
  • Defined Contribution
    • Latest DC News
    • The Plan Sponsor's Guide to Retirement Income
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2023 Defined Contribution East Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Research Center
    • The P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
Breadcrumb
  1. Home
  2. MONEY MANAGEMENT
January 30, 2019 12:00 AM

Invesco AUM down 9.5% in quarter, 5.3% for year

Danielle Walker
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    Bloomberg/P&I Research Center
    Worldwide AUM: $236,816

    Invesco reported $888.2 billion in assets under management as of Dec. 31, down 9.5% from three months earlier and down 5.3% from a year earlier, according to the company's fourth-quarter earnings results released Wednesday.

    The firm expects its total AUM will be more than $1.1 trillion in the second quarter of this year, once its acquisition of OppenheimerFunds from Massachusetts Mutual Life Insurance Co. closes, its earnings report said.

    Invesco reported net outflows of $18.1 billion for the fourth quarter, compared to net outflows of $4.9 billion for the third quarter and net outflows of $3.2 billion for the fourth quarter of 2017.

    Long-term net outflows were $20.1 billion in the fourth quarter, compared to $11.2 billion in net outflows in the prior quarter and $1.5 billion in net outflows in the fourth quarter of 2017.

    Net outflows from active strategies of $16.4 billion were the highest contributor to long-term redemptions, while net outflows from passive strategies totaled $3.7 billion in the fourth quarter.


    Compare fund flows and AUM of publicly traded money managers with P&I's Earnings Tracker

    Similarly, in the third quarter, the $10.9 billion of net outflows in active strategies far outpaced the $300 million of net outflows from passive strategies. In comparison, in the fourth quarter of 2017, active strategies saw $2.3 billion in net outflows and passive strategies saw $800 million in net inflows.

    Invesco's institutional money market business had $3.2 billion in net inflows during the quarter ended Dec. 31, compared to $3.1 billion in net inflows in the third quarter, and $3.3 billion in net outflows in the fourth quarter of 2017.

    Non-management fee-earning AUM, including Invesco's PowerShares ETF business, experienced net outflows of $1.2 billion in the fourth quarter, net inflows of $3.2 billion in the third quarter and $1.6 billion in net inflows in the fourth quarter of 2017.

    Net revenue was $919.2 million in the fourth quarter, down 4.9% over the prior quarter and down 8.5% from the year-earlier quarter.

    Net income was also down for the quarter and year. In the fourth quarter, net income was $114.2 million, down 57.6% over the third quarter and down 72% compared to the fourth quarter of 2017.

    Invesco has separately implemented cost-saving initiatives in the fourth quarter, which included canceling requests to fill open roles at the company, deferring new hires and "limiting discretionary, non-client-related travel, conferences and professional/contractor services," the earnings report said.

    "Invesco's fourth-quarter operating results reflect market declines and a challenging investment environment at the end of 2018," said Martin L. Flanagan, president and CEO, in news release that accompanied the earnings report.

    Regarding the acquisition of OppenheimerFunds, Mr. Flanagan later added: "The combination will further accelerate the firm's growth initiatives, strengthen Invesco's scale and client relevance, expand our comprehensive suite of differentiated investment capabilities and provide compelling financial returns for shareholders."

    Related Articles
    Invesco's AUM up 1.8% for quarter despite $5 billion in outflows
    Invesco to buy OppenheimerFunds from MassMutual
    Invesco announces new head of Americas
    DWS Group's AUM drops 4.3% in quarter, falls 5.4% for year
    Recommended for You
    First Eagle names CIO of new high-yield municipal credit team
    Business_Calculator_i.jpg
    Institutional clients moving to consolidate manager lineups
    handshake_5_1550-main_i.jpg
    Pacific Current to take minority stake in Avante Capital
    Carving a Path For Fixed Income Through Shifting Scenarios
    Sponsored Content: Carving a Path For Fixed Income Through Shifting Scenarios
    Sponsored
    White Papers
    2023 Hot Topics in Retirement and Financial Wellbeing
    Bonds: Shaken, but Not Stirred
    Today’s rate cycle and US equities in target date portfolios
    A Study of Allocations to Alternative Investments by Institutions and Financial…
    Unlocking Hidden Value in Japan
    The Art of the Possible in Data Automation for Institutional Investors
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    December 12, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Custom Content
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Artificial Intelligence
      • Consultants
      • Defined Contribution
      • ESG
      • ETFs
      • Face to Face
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Regulation
      • SECURE 2.0
      • Special Reports
      • Washington
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Influential Women in Institutional Investing 2023
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • ESG Investing | Industry Brief
      • Innovation in ESG Investing
      • 2023 ESG Investing Conference
      • ESG Rated ETFs
      • Divestment Database
    • Defined Contribution
      • Latest DC News
      • The Plan Sponsor's Guide to Retirement Income
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2023 Defined Contribution East Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Research Center
      • The P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
    • Careers
    • Events
      • View All Conferences
      • View All Webinars