ETF Trends
ETF Trends

Invesco has nearly doubled first quarter earnings, driven by winnings from its exchange traded fund (ETF) business, PowerShares. The ETF branch helped ramp up the providers profit by 87%.

Long-term net inflows surged to $6.6 billion, reversing the fourth quarter’s $17 billion in outflows while ETFs, UITs and other passive products drew $8.1 billion in net inflows, reports Joe Morris of Ignites. [How ETFs Are Changing Investing, Markets.]

The firm posted net income of $177.5 million, or 38 cents per share, up 86.8% from a year earlier. Assets under management climbed 40% from a year earlier, to $641.9 billion.

Invesco chief financial officer Loren Starr told Reuters that investors’ appetite for equity investing is helping to energize the strong flows seen for PowerShares equity offerings. [Vanguard Wins This Round in the ETF Price War.]

Tisha Guerrero contributed to this article.

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