Invesco beats quarterly profit estimates on robust fee income; shares rise

April 22 (Reuters) - Asset manager Invesco IVZ.N on Tuesday beat Wall Street estimates for first-quarter profit, helped by higher fee income, as investors rushed to rejig their investments amid tariff-driven market volatility.

Shares of the Atlanta, Georgia-based company rose 5.1% in premarket trading following the results.

WHY IT'S IMPORTANT

U.S. stocks grappled with broad weakness in the first quarter as President Donald Trump's sweeping tariff imposition on trade partners triggered economic turmoil in the country.

Rise in market volatility and fears of recession prompted investors to avoid risky assets, including equities, and opt for safe-haven options such as treasury bonds.

BY THE NUMBERS

Invesco had $1.84 trillion in assets under management as of March 31, up 11% from a year ago.

The company's investment management fees rose nearly 5% to $1.10 billion during the first quarter.

Its quarterly adjusted profit was $200.5 million, or 44 cents per share.

Analysts on average were expecting Invesco's first-quarter profit to be 38 cents, according to data compiled by LSEG.

CONTEXT

Invesco, an independent investment management firm, provides retail and institutional solutions to clients across 120 countries.

Larger peer BlackRock BLK.N earlier this month reported that its assets increased to a record high value in the first quarter.