Business
Business

Invesco profits up 36 percent in second quarter

By Russell Grantham
July 31, 2014

Atlanta-based Invesco Ltd. reported a 36 percent jump in its second-quarter income, to $275 million, over the previous year.

The money manager said Thursday that its revenues during the three months increased 14 percent compared to a year earlier, to $1.29 billion. The increase came despite a a $13.1 billion withdrawal during the quarter by a single client from its operations in the United Kingdom, said Invesco, which collects most of its revenues from investment management fees based on a percentage of the assets it oversees.

At the end of June, Invesco managed $802.4 billion, up 1.9 percent from the previous quarter and almost 14 percent from the previous year.

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Russell Grantham
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