Jefferies Maintains Buy on Invesco (IVZ)

Jefferies is out with its report today on Invesco IVZ, maintaining Buy on IVZ. In a note to clients, Jefferies writes, "IVZ reported Jan 31 total AUM of $624.3B, up 1.3% from $615.5B on Dec 31. The $7.8B increase includes approx. $2-3B in net inflows, approx. $4.4B in market performance, and $1.9B in currency impacts. Actively managed assets, which account for 86% of total assets, grew a modest 0.9% reflecting positive fixed income flows and modest equity outflows. In contrast, passively managed assets grew a more robust 7.1%, sparked by a combination of performance and net inflows." Jefferies has a $29 PT on IVZ. Shares of IVZ closed Wednesday at $25.10.