Independent investment management firm Invesco Ltd. IVZ has capped off a healthy September, with estimated long-term cash flows coming in at $2 billion for the month.
Assets under management as of September sat at $820.2 billion.
According to Barclays, "We estimate that long-term flows of $2.1 billion were roughly in line with what we were looking for and LT returns were positive at $0.5 billion."
Analysts believe the long-term inflows for September were driven primarily by fixed income and strong active alternative trends.
Invesco has experienced positive inflows in the past three months, and Barclays anticipates that this momentum will continue into the year's end.
Barclays has a Neutral rating on Invesco with a $36 price target.
At last check, Invesco was up 2.46 percent at $31.29.
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