By Paulo Trevisani
Invesco Ltd. said Tuesday that foreign exchange rates decreased its assets under management in the third quarter by $4 billion.
The Atlanta-based investment firm said it ended the September 30 quarter with $1.5 trillion in assets under management, a 0.2% increase from the previous quarter, despite the FX impact.
For comparison, FX increased AUM by $1.1 billion in the second quarter and by $7.7 billion a year ago, the company reported.
Invesco said that FX rate changes decreased operating revenue in the third quarter by $8.1 million and decreased operating expenses by $7.1 million.
The WSJ Dollar Index was up 1.9% in the third quarter, according to Dow Jones Market Data.
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(END) Dow Jones Newswires