Invesco Profit Rises as Takeover, Market Rally Lift Assets
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Invesco Ltd., owner of the Invesco, Van Kampen and PowerShares funds, said fourth-quarter profit increased 58 percent, helped by its purchase of Morgan Stanley’s mutual-funds business in June and rising equity markets.
Net income rose to $175.2 million, or 37 cents a share, from $110.9 million, or 25 cents, a year earlier, Atlanta-based Invesco said in a statement today. Excluding some items, earnings of 44 cents a share beat the average estimate of 40 cents in a Bloomberg survey of 18 analysts.