Invesco sees profits up 65%, increase in FX AUM $3.2 billion

Invesco one of the largest mutual fund companies announced Q2 profits; an increase by 65%. Investors found confidence in Invesco's

Invesco one of the largest mutual fund companies announced Q2 profits; an increase by 65%.

Investors found confidence in Invesco’s funds as earnings increased to $201.1 million form $125.4 million a year earlier.

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Net inflows in the second quarter totaled $7.3 billion, including $3.5 billion into bond funds and $3.5 billion into short-term money funds. Total Assets under management at the end of the quarter hit $653.7 billion.

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Invesco was given additional confidence as Fitch analysts upgraded Invesco’s long-term issuer default rating to “A-” from “BBB+”. Fitch analysts said the Invesco has posted higher earnings and profit margins after the acquisition of Morgan Stanley’s Van Kampen retail asset-management business. Invesco also has shown growing advisory fees resulting from positive fund flows and stronger equity markets.

Invesco acquired Van Kampen for $1.5 billion in a cash-and-stock transaction that closed in June 2010.  Invesco used its credit line to fund the cash portion of the Van Kampen deal, but it maintains debt levels comparable to its “A-” peers.

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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