The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Amvescap Stock Climbs on Grim News Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 16, 2005

Amvescap Stock Climbs on Grim News

by: Sean Hanna, Editor in Chief

A few months back analysts cited takeover rumors as the reason for Amvescap’s rising stock price. Now they are pointing to the fund manager's plans to cut operating costs. Amvescap shares jumped 3.7 percent on the London Exchange Friday after Morgan Stanley raised its outlook on the stock.

The underwriter said "We see a much larger opportunity for cost cutting at Amvescap than the market is penciling in." It also warned that it sees not end to the outflows from Amvescap's funds.

"We still think retail flows will be slow to turn in Amvescap's AIM division, and Janus suggests even with better performance, retail outflows can be relentless," said the report.

Amvescap has spent the past two years taking costs out of its funds by merging its Invesco Funds brand into AIM and then cutting its Invesco sales force, among other moves. It looks like the Street wants more such moves.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use