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Invesco's fee income rises by £3.7m in Q2

Invesco's fee income rises by £3.7m in Q2

Invesco Perpetual's fee income rose by almost $6 million (£3.37 million) to $29.6 million in the second quarter.

The group switched from separate annual management and registration fees to a single headline charge ealier this year, but said increased AUM and the additional day in the second quarter compared to the first quarter drove the rise. Service and distrubition fees fell by a corresponding $23.9 million with Invesco noting: 'After allowing for this, service and distribution fees have increased in line with average AUM and the additional day in the second quarter compared to the first quart.

Foreign exchange rate changes also added $0.2 million to fee income quarter-on-quarter.

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