Invesco Ltd. (NYSE:IVZ) today reported preliminary month-end assets under management (AUM) of $820.2 billion. Net long-term inflows and favorable market returns were more than offset by lower money market AUM and outflows in the PowerShares QQQs for a modest decrease in AUM of 0.1% month over month. FX decreased AUM by $0.3 billion. Preliminary average total AUM for the quarter through September 30th were $814.1 billion, and preliminary average active AUM for the quarter through September 30th were $673.1 billion.
Additionally on September 20th, Invesco extended its hedge of 75% of the GBP-based operating income for each quarter through December 31, 2017. On the same day, the Company purchased a series of contracts to hedge 75% of the EUR-based operating income for each quarter from the fourth quarter of 2016 through the fourth quarter of 2017. These hedges are in the form of purchased put option contracts set at a strike level of $1.2496 (GBP) and 1.0719 (EUR) based on the average daily foreign exchange rate for the applicable time period. The gains derived from these hedges would help offset the impact on earnings per share resulting from a decline in the GBP or EUR exchange rates.