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Invesco 3Q Profit Up 47%, Helped By Morgan Stanley Deal

DOW JONES NEWSWIRES Invesco Ltd.'s (IVZ) third-quarter earnings rose 47%, beating analysts' views, as the money manager's results were aided by its recent acquisition of Morgan Stanley's (MS) retail asset-management business. "Driven by consistent, long-term investment performance, we continue to see strong momentum in our business during the first full quarter after our combination," said President and Chief Executive Martin L. Flanagan. Invesco's deal with Morgan Stanley included the Van Kampen fund unit, though its bottom line has been dinged of late because of merger-related charges. Standard & Poor's Ratings Services in July upgraded Invesco, citing its improved performance--including asset diversification, distribution, investment performance and profitability. Invesco reported a third-quarter profit of $154.7 million, or 32 cents a share, up from $105.2 million, or 24 cents a share, a year earlier. Excluding items such as merger-related charges, earnings rose to 39 cents from 27 cents as revenue jumped 35% to $953.1 million. Analysts polled by Thomson Reuters had most recently forecast earnings of 35 cents a share on $966 million in revenue. Operating margin fell to 19.2% from 21.5%. Assets under management rose to $604.5 billion as of Sept. 30, from $446.9 billion a year earlier and $557.7 billion in the prior quarter. Several firms have seen assets under management rise of late as stocks have rallied the past several months. Long-term net inflows were $4.9 billion, down from $13.9 billion in the second quarter. Institutional money-market net outflows were $2.4 billion, up from $900 million. Shares closed at $22.32 Friday and were inactive premarket. The stock has fallen 5% so far this year. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com

Stock News for Invesco Ltd (IVZ)
DateTimeHeadline
07/01/201512:00:00Invesco Closed-End Funds Declare Dividends
06/23/201509:14:00IT'S ALL ABOUT HOW YOU SAY IT: Investors Drawn to Alternative...
06/22/201517:05:00Invesco Advisers Announces Portfolio Management Changes for Invesco...
06/18/201515:53:06Annual Report of Employee Stock Plans (11-k)
06/15/201516:05:00Invesco Mortgage Capital Inc. Announces Quarterly Common and...
06/10/201508:32:21Current Report Filing (8-k)
06/09/201516:05:00Invesco Ltd. Announces May 31, 2015 Assets Under Management
06/03/201508:00:00Les investisseurs institutionnels se tournent vers les FNB à...
06/03/201508:00:00Institutional investors turning to smart beta ETFs - Seeking...
06/01/201512:00:00Invesco Closed-End Funds Declare Dividends
05/28/201516:33:32Statement of Changes in Beneficial Ownership (4)
05/27/201516:30:00Invesco Mortgage Capital Inc. To Present at the 2015 Morgan Stanley...
05/26/201516:30:00Invesco Mortgage Capital Inc. To Present at the Keefe, Bruyette...
05/26/201514:00:00Invesco PowerShares and FTSE Russell Expand Smart Beta Relationship...
05/26/201508:00:00Invesco PowerShares Announced Changes to ETF Family Take Effect
05/21/201516:15:00Invesco Canada simplifie et renforce sa gamme de produits
05/21/201516:15:00Invesco Canada simplifies and strengthens product lineup
05/21/201516:05:00Invesco Ltd. To Speak at KBW Asset Management and Capital Markets...
05/20/201512:15:10What Is the S&P 500 Index?
05/19/201515:00:00PowerShares Canada annonce des distributions en espèces pour...

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