Invesco reported assets under management of $1.39 trillion as of June 30, down 10.6% from three months earlier, and down 8.8% from a year earlier, said a news release Wednesday.
Net market losses and foreign-exchange rate movements reduced AUM by $142.3 billion and $19.7 billion, respectively, in the second quarter.
Invesco posted net long-term outflows of $6.8 billion in the second quarter — the first net long-term outflows recorded by the firm in two years — compared with net inflows of $17.2 billion in the first quarter, and net inflows of $31.1 billion in the second quarter of 2021. (Invesco last saw long-term net outflows of $14.2 billion in the second quarter of 2020.)
Passive net long-term inflows amounted to $4.5 billion in the second quarter, down from $16.4 billion in the prior quarter, and well below the $29 billion recorded in the year-earlier quarter.
Meanwhile, active long-term net outflows amounted to $11.3 billion in the second quarter, compared with net inflows of $800 million in the first quarter and net inflows of $2.1 billion in the second quarter of 2021.
By channel, institutional net long-term inflows amounted to $1.5 billion in the second quarter, down from $6.8 billion in the first quarter, and $21.6 billion in the year-earlier quarter.
Retail net long-term outflows in the second quarter totaled $8.3 billion, compared with inflows of $10.4 billion in the first quarter, and inflows of $9.5 billion in the second quarter of 2021.
By asset class, fixed income saw net long-term inflows of $4.8 billion in the second quarter; while equity, balanced and alternative products suffered net outflows of $7.7 billion, $2.3 billion and $1.6 billion, respectively, in the second quarter.
By geography, the Americas; U.K.; and Europe, the Middle East and Africa ex-U.K. had net long-term outflows of $3.9 billion, $1.9 billion and $1.1 billion, respectively, in the second quarter, while Asia-Pacific saw modest net inflows of $100 million.
"The market environment for the first half of this year has been one of the most challenging in decades," said Marty Flanagan, president and CEO, in the news release.
