Invesco AUM jumps 26% in Q2

Invesco had $1.2 trillion in assets under management as of June 30, up 25.5% from March 31 and up 24.3% from the same time the year prior, according to the company's earnings statement issued Thursday.

The rise is AUM is partially due to Invesco's acquisition of OppenheimerFunds from Massachusetts Mutual Life Insurance Co. that closed May 24.

"With $1.2 trillion in assets under management and a much stronger position in the U.S. and global markets, Invesco has the investment capabilities, distribution resources and enhanced scale that will enable us to better meet client needs and drive future growth," Invesco President and CEO Martin L. Flanagan said in the earnings release.

Invesco reported net outflows of $4.5 billion for the second quarter, vs. net inflows of $3.5 billion for the first quarter and net outflows of $6.2 billion for the second quarter of 2018.

Long-term net outflows were $3.9 billion in the second quarter, compared to $5.4 billion in net outflows in the prior quarter and $8 million in net outflows in the second quarter of 2018.Net outflows from active strategies totaled $8.5 billion in the second quarter, compared to net outflows of $9.3 billion in the first quarter and net outflows of $8.5 billion the same quarter a year earlier. Passive strategies, meanwhile, experienced $4.6 billion in net inflows, compared to net inflows of $3.9 billion in the first quarter and net inflows of $50 million the second quarter of 2018.

Invesco's institutional money market business had $4.3 billion in outflows during the second quarter, vs. net inflows of $6.8 billion in the quarter ended March 31 and $900 million in net inflows in the second quarter of 2018.

Non-management fee-earning AUM, including Invesco's ETF business, experienced net inflows of $3.7 billion in the second quarter, compared to net inflows of $2.1 billion in the first quarter and $900 million in net inflows in the first quarter of 2018.

Net revenue was $1.03 billion in the second quarter, up 16.3% over the prior quarter and up 5.9% from the year-earlier quarter.

Net income was $40.1 million in the second quarter, down 77.4% from the first quarter and down 83.6% from the second quarter of 2018.