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The Atlanta, Georgia-based company's net income attributable to common shareholders was $105.2 million or $0.24 per share, compared to $131.8 million or $0.33 per share in the year-ago quarter.
Total operating revenues dropped 14.7% to $705.8 million from $827.2 million in the prior year quarter.
Investment management fees for the quarter were $570.3 million, 14.2% lower than the $664.9 million recorded in the comparable quarter. Service and distribution fees decreased 13.6% to $111.8 million from $129.4 million a year ago. Performance fees were $4.3 million versus $18.1 million in the same quarter last year.
Assets under management or AUM at September 30, 2009 were $416.9 billion, up from $409.6 billion as of September 30, 2008.
Total operating expenses were $554.2 million, a 12.3% decline from $632 million in the third-quarter of 2008.
For the nine-month period, the company posted net income attributable to common shareholders of $211.6 million or $0.51 per share, lower than the $449.8 million or $1.12 per share last year. Total operating revenues fell to $1.88 billion from $2.67 billion a year ago.
The third-quarter results come on the heels of Invesco's $1.5 billion deal to acquire Morgan Stanley's retail asset management business, which include Van Kampen Investments and Morgan Stanley's Japan equity management businesses.
The deal value includes $500 million in cash and 44.1 million shares of Inveso, representing $1 billion in Invesco's equity. The transaction, which has been approved by the boards of both companies, is expected to close in mid-2010.
On October 16, the company declared a third quarter cash dividend of 10.25 cents per share to holders of common shares. The dividend is payable on December 2, to shareholders of record at the close of business on November 18, 2009.
Following the release of third-quarter results, brokerage firm Credit Suisse raised its 2010 EPS estimate for Invesco to $1.36 from $1.24.
IVZ is currently trading at $23.96, up $0.84 or 3.63%. In the past 52 weeks, the stock has been trading between $8.35 and $24.07.
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