Core Insights - Invesco Ltd. reported preliminary month-end assets under management (AUM) of $2,124.8 billion, reflecting a 3.0% increase compared to the previous month-end [1][2] - The firm experienced net long-term inflows of $11.9 billion during the month, with non-management fee earning net inflows of $1.1 billion and money market net outflows of $2.0 billion [1] - Favorable market returns contributed an increase of $49 billion to AUM, while foreign exchange movements reduced AUM by $0.3 billion, offset by reinvested distributions of $1.0 billion [1] AUM Breakdown - Total AUM as of September 30, 2025, was $2,124.8 billion, with specific categories as follows: - ETFs & Index Strategies: $605.7 billion - Fundamental Fixed Income: $308.8 billion - Fundamental Equities: $299.6 billion - Private Markets: $130.9 billion - China JV: $136.8 billion - Multi-Asset/Other: $67.1 billion - Global Liquidity: $190.1 billion - QQQ: $385.8 billion [2] Quarterly Averages - Preliminary average total AUM for the quarter ending September 30 was $2,060.4 billion, while preliminary average active AUM for the same quarter was $1,102.5 billion [1]

Core Insights - Artisan Partners Asset Management Inc. reported preliminary assets under management (AUM) of $181.3 billion as of September 30, 2025 [1] Summary by Category Assets Under Management - Total AUM is comprised of Artisan Funds and Artisan Global Funds at $88.0 billion, and separate accounts and other AUM at $93.3 billion [1] - AUM for Artisan Sustainable Emerging Markets and U.S. Mid-Cap Growth Strategies includes $114.2 million for which investment models are provided to managed account sponsors [4] AUM by Strategy - The AUM distribution by strategy as of September 30, 2025, includes: - Global Opportunities: $19,807 million - Global Discovery: $1,854 million - U.S. Mid-Cap Growth: $11,197 million - U.S. Small-Cap Growth: $2,973 million - Franchise: $919 million - Non-U.S. Growth: $15,489 million - Value Equity: $5,367 million - U.S. Mid-Cap Value: $2,428 million - International Value: $51,702 million - Global Value: $34,280 million - High Income: $12,906 million - Developing World: $4,962 million - Antero Peak: $2,274 million - Non-U.S. Small-Mid Growth: $5,065 million - Global Unconstrained: $1,103 million - Emerging Markets Debt Opportunities: $1,254 million - Emerging Markets Local Opportunities: $1,717 million [2] Company Overview - Artisan Partners is a global multi-asset investment platform offering a range of high value-added investment strategies across various asset classes [5] - The firm has been focused on attracting experienced investment professionals since its establishment in 1994 [5]

Group 1 - The market is experiencing growth, leading to increased discussions online about investment opportunities [1] - Platforms like Reddit are becoming popular venues for conversations regarding stocks, funds, and ETFs that may drive future performance [1]

Group 1 - Piper Sandler lowered its price target on Brookfield Asset Management to $60 from $65 while maintaining a Neutral rating [1] - Brookfield hosted its investor day in New York City, highlighting plans to double assets under management (AUM) and earnings by 2030 [2] - Analysts identified digital infrastructure and retirement accounts such as 401(k)s as long-term growth drivers for Brookfield [2] Group 2 - Piper Sandler reduced its target price multiple to approximately 30x 2026 estimated adjusted EPS from approximately 32.5x previously, indicating recent multiple compression among peers [3]

Core Insights - T. Rowe Price Group (TROW) achieved a 6.9% year-over-year growth in assets under management (AUM), reaching $1.68 trillion in the first half of 2025, driven by favorable market conditions and strength in multi-asset and fixed income [1][8] - The company has shown a compound annual growth rate (CAGR) of 2.3% in AUM over the past four years (2020–2024) [1] - T. Rowe Price's U.S. mutual funds have outperformed the Morningstar median in 50% of cases and 52% against passive peers over the five years ending June 30, 2025 [4] AUM Performance - Target-date funds represent a significant portion of T. Rowe Price's AUM, totaling $520 billion, which is nearly 66% of the total AUM as of June 30, 2025 [5][8] - The company is expanding its growth engines through ETFs and an alternatives platform aimed at institutional investors, which helps mitigate pressures from outflows in traditional active equity funds [5][6] Competitive Landscape - T. Rowe Price's peers, Franklin Resources (BEN) and Lazard Ltd. (LAZ), are also focusing on AUM expansion, with Franklin reporting a five-year AUM CAGR of 3.1% and Lazard an eight-year CAGR of 1.7% through 2024 [7] - In the first half of fiscal 2025, Franklin's total AUM decreased, while Lazard's AUM improved [7] Financial Performance - T. Rowe Price's shares have increased by 10.7% over the past three months, compared to the industry's growth of 11.9% [10]

Tokenized Asset Market - The AUM of tokenized assets has reached an all-time high of approximately $270 billion [1] - Tokenized assets encompass currencies, commodities, treasuries, private credit, private equity, and venture capital [1]

Core Insights - T. Rowe Price Group, Inc. (TROW) reported preliminary assets under management (AUM) of $1.70 trillion for July 2025, reflecting a 1.6% increase from the previous month [1][7] - The company's diversified business model and strong brand are expected to support future AUM growth despite concerns over reliance on investment advisory fees [4] AUM Performance Breakdown - TROW's equity products reached $859 billion, up 2.4% from the prior month [2][7] - Fixed income products, including money market, grew 1% to $202 billion [2][7] - Multi-asset products totaled $586 billion, showing a slight increase [2] - Alternative products valued at $56 billion increased by 1.8% from the previous month [2] Target Date Retirement Portfolios - T. Rowe Price registered $524 billion in target date retirement portfolios in July 2025, showing a marginal increase from the prior month [3] Comparison with Other Asset Managers - Franklin Resources, Inc. (BEN) reported preliminary AUM of $1.62 trillion as of July 31, 2025, with a slight increase attributed to market impacts and flat long-term net inflows [5] - Invesco (IVZ) announced AUM of $2,024.5 billion for July 2025, up 1.2% from the previous month, influenced by favorable market returns despite a negative impact from foreign exchange [6]

Core Insights - Virtus Investment Partners, Inc. (VRTS) reported preliminary assets under management (AUM) of $170.8 billion for July 2025, showing a slight increase from June 30, 2025, primarily driven by positive net flows in exchange-traded funds and institutional accounts, despite net outflows in U.S. retail funds, retail separate accounts, and global funds [1][7] Group 1: AUM Performance - The company’s AUM of $170.8 billion includes $1.8 billion of other fee-earning assets, which were excluded from the AUM balance [2] - The open-end fund balance decreased nearly 1% from the prior month to $55.3 billion, while the closed-end fund balance increased by 1% to $10.6 billion [3] - Institutional accounts balance fell slightly to $57 billion sequentially, and retail separate accounts balance rose by 1.2% to $47.4 billion [3] Group 2: Business Model and Financial Outlook - The integrated multi-boutique business model of the company is expected to support its performance in a rapidly growing industry [4] - A decline in operating expenses is anticipated to bolster Virtus Investment's bottom line in the near term [4] Group 3: Industry Comparison - Victory Capital Holdings, Inc. (VCTR) reported AUM of $299.8 billion for July 2025, reflecting a marginal increase from June 30, 2025 [5] - Invesco (IVZ) announced its AUM of $2,024.5 billion as of July 31, 2025, which increased by 1.2% from the previous month, influenced by favorable market returns and impacted by foreign exchange [6]

Core Insights - Invesco's preliminary assets under management (AUM) for July 2025 reached $2.02 trillion, reflecting a 1.2% increase from the previous month, driven by market gains and long-term net inflows, despite some losses from unfavorable foreign exchange [1][10] Group 1: AUM Performance - The rise in AUM was attributed to a $22 billion increase from market performance and $5.8 billion in long-term net inflows, offset by an $8.5 billion decline due to unfavorable FX [1] - AUM under ETFs & Index Strategies was $559 billion, up 2.2% from the previous month, while Global Liquidity AUM increased by 2.1% to $200.5 billion [2] - The Fundamental Fixed Income AUM decreased by 1% to $298.5 billion, and Fundamental Equities AUM saw a slight decline to $287 billion [3] Group 2: Growth Trends - Over the past five years, Invesco's AUM has experienced a compound annual growth rate (CAGR) of 8.5%, with continued growth in the first half of fiscal 2025 [4] - The company has been focusing on diversifying into asset classes with growing client demand, which is expected to further enhance AUM growth [5] Group 3: Competitive Landscape - Competitors such as Franklin Resources and T. Rowe Price are also experiencing AUM growth, with Franklin's AUM at $1.62 trillion and T. Rowe Price benefiting from a diversified AUM across various asset classes [6][8] Group 4: Valuation and Earnings Estimates - Invesco's shares have increased by 17% in 2025, outperforming the industry, and the company trades at a forward price-to-earnings (P/E) ratio of 9.89, below the industry average [9][11] - The Zacks Consensus Estimate indicates a 4.7% year-over-year rise in Invesco's 2025 earnings, with a projected growth of 25.5% for 2026 [12]

Core Insights - Cohen & Steers, Inc. reported preliminary assets under management (AUM) of $88.6 billion as of July 31, 2025, reflecting a decrease of $353 million from $88.9 billion at June 30, 2025 [1][2]. AUM Breakdown - The decrease in AUM was attributed to market depreciation of $410 million and distributions of $152 million, which were partially offset by net inflows of $209 million [1]. - AUM by investment vehicle as of July 31, 2025: - Institutional Accounts: Total AUM decreased to $34.003 billion, with advisory accounts at $19.862 billion and subadvisory accounts at $14.141 billion [2]. - Open-end Funds: AUM increased to $43.000 billion, with net inflows of $294 million [2]. - Closed-end Funds: AUM slightly decreased to $11.580 billion, with net inflows of $1 million [2]. Company Overview - Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, and commodities [2]. - The firm was founded in 1986 and is headquartered in New York City, with additional offices in London, Dublin, Hong Kong, Tokyo, and Singapore [2].