Invesco, provider of the PowerShares family of exchange-traded funds, has reported an increase in annual adjusted operating income of 27.7 per cent in 2013.
Annual adjusted diluted EPS is up 29.1 per cent, while return of capital totalled USD850m with net inflows of USD34.4bn.
“Invesco continued to provide strong, long-term investment performance to our clients, which contributed to one of our strongest years on record,” says Martin L Flanagan, president and CEO of Invesco. “During 2013, we made additional progress against our strategic priorities, continued to expand our global investment capabilities, launched several important new products and further invested in key aspects of our business that will benefit our clients and our business over the long term. We continue to believe we are in the early stages of achieving the full potential of the organisation. Reflecting further confidence in the fundamentals of our business, we returned USD850 million to shareholders during the year.”
Total assets under management (AUM) at 31 December 2013 were USD778.7bn compared with USD745.5bn at 30 September 2013, an increase of USD33.2bn during the fourth quarter.
Total net inflows were USD5.2bn for the fourth quarter.
Between 15 October and 31 December UK equity income AUM experienced net outflows of USD4.8bn.
Net market gains led to a USD27.2bn increase in AUM during the fourth quarter, compared to a USD22.4bn increase in the third quarter 2013. Foreign exchange rate movements led to an USD0.8bn increase in AUM during the fourth quarter, compared to an USD8.4bn increase in the third quarter 2013.
Average AUM during the fourth quarter were USD761.7bn, compared to USD729.4bn for the third quarter 2013, an increase of 4.4 per cent.
Net revenues increased by USD40.9m (5.0 per cent) to USD857.3m in the fourth quarter. The change was principally due to increases in investment management fees. Foreign exchange rate changes increased fourth quarter net revenues by USD10.4m when compared to the third quarter 2013.
