Active funds trump Invesco’s ETF in Q3

Invesco saw outflows from its Invesco Powershares QQQ exchange-traded fund (ETF) during the third quarter (Q3) of 2014, while actively managed funds drove inflows for the company.

Invesco’s total net inflows for the quarter were $2 billion (€1.6 billion), with inflows of $6 billion into actively managed funds but outflows of $3.2 billion from the ETF.

Money market funds saw outflows of $0.8 billion during the period.

The company’s total assets under management (AUM) decreased by $12.8 billion during Q3, from $802.4 billion in the second quarter (Q2) to $789.6 billion for the three months to September. However, this figure was an increase of $44.1 billion on the Q3 results for 2013.

The firm says net market losses led to a $5.1 billion decrease in AUM during Q3, compared to a $19.9 billion increase in Q2 2014. A $9.7 billion decrease in AUM was attributed to foreign exchange rate movements, compared to a $4 billion increase in the second quarter.

Martin L. Flanagan, president and chief executive officer of Invesco, says: “In spite of tremendous volatility in the markets, Invesco continued to deliver strong, long-term investment performance.”

He added that the firm’s focus on a broadly diversified offering helped to produce an operating margin of 41.8% during the period, up from 40.2% in the same quarter last year.

©2014 funds europe

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