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Invesco Announces $652.8B Assets Under Management
Posted July 12, 2011
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ATLANTA --
-- June 30, 2011 Assets Under Management
-- Second Quarter 2011 Results Conference Call Date and Time
-- Income Statement Expense Presentation Change
June 30, 2011 Assets Under Management
Invesco Ltd. (NYSE: IVZ) today reported preliminary month-end assets under management of $653.7 billion, a decrease of 1.2% month over month. The decrease largely resulted from the combined effects of negative market returns and negative foreign exchange. FX decreased AUM by $1.9 billion during the month. Long-term net flows, excluding ETF, UIT and Passive AUM were positive for the month. Total average assets for the quarter were $652.8 billion and average assets excluding ETF, UIT and Passive for the quarter were $559.3 billion.
Income Statement Expense Presentation Change
Invesco Ltd. announced that beginning with the release of the company's earnings for the three months ended June 30, 2011, the company will change the presentation of marketing support expenses from marketing expenses to third-party distribution, service and advisory expenses. The change is intended to provide investors with improved disclosure of third-party distribution and marketing expenses and to allow for better comparison with similar methods of presentation used by peer investment managers.
Today's release includes selected quarterly U.S. GAAP operating information for the three months ended March 31, 2011, and quarterly and annual U.S. GAAP operating information for the fiscal years 2010 and 2009 in the new presentation format. The reclassification has no impact on U.S. GAAP total operating expenses, net income, earnings per share, or equity attributable to common shareholders and does not represent a restatement of any previously published financial results.
As a result of the change, the company's non-GAAP financial measure of net revenues (and by calculation, net revenue yield on assets under management (AUM) and adjusted operating margin) will change. The reclassification has no impact on non-GAAP adjusted net income or adjusted earnings per share. Today's release includes recalculated amounts for quarterly net revenues and adjusted operating margin for the three months ended March 31, 2011 and quarterly and annual net revenues for the fiscal years 2010 and 2009 in the new presentation format.
Annual U.S. GAAP Operating Information
The following is selected U.S. GAAP operating information for Invesco Ltd. for the years indicated. The reclassification has no impact on total operating expenses, net income, earnings per share, or equity attributable to common shareholders.
Invesco is a leading independent global investment manager, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ.
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