Asset manager Invesco's quarterly profit rises on strong inflows, higher fees

July 28 (Reuters) - Asset manager Invesco IVZ.N reported a rise in second-quarter profit on Tuesday, driven by higher fee income as optimism over corporate earnings fueled a market rally and lifted the value of its fee-generating assets.

Shares of the Atlanta, Georgia-based company, which were up 14.6% as of last close, rose 2% in premarket following the results.

Here are some more details:

• Invesco had $2.47 trillion in assets under management as of June 30, compared with $2 trillion a year earlier.
• The company's investment management fees rose 32.8% to $1.46 billion in the second quarter from a year earlier.
• Fees earned by asset managers depend on two factors — money flowing in and out of the funds and the performance of investments.
• Its performance fees, which are earned when returns meet agreed-upon expectations, also rose 42.3% to $3.7 million in the second quarter. Net inflows more than quadrupled to $62.7 billion from a year earlier.
• Invesco, an independent investment management firm, provides retail and institutional solutions to clients across 120 countries.
• Excluding one-time costs, the company earned a profit of $322.3 million, or 71 cents per share, compared with $165.2 million, or 36 cents per share, a year earlier.