Invesco Shares Decline After Earnings Miss Analysts' Estimates

  • Investors pull money from firm's passive, active strategies
  • Stock has underperformed asset managers index this year

Invesco Ltd., owner of the Invesco, Perpetual and PowerShares funds, fell the most in two months after earnings missed analysts’ estimates and investors pulled $6.3 billion. 

Invesco shares declined 4.7 percent to $32.88 at 12:16 p.m. after the Atlanta-based money manager reported third-quarter adjusted earnings per share of 61 cents, below the 62 cents analysts had forecast. Assets under management fell to $755.8 billion as of Sept. 30, a 5.9 percent decline from the end of the second quarter, the company said Thursday in its earnings statement.

Invesco experienced redemptions in both passive and active strategies. The firm had net inflows in the previous quarter.

Invesco has fallen 17 percent this year, compared with a decline of 7.3 percent for the 19-member Standard & Poor’s Index of asset managers and custody banks.

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