Invesco profit rises 32 pct on higher investment management fees

July 31 Wed Jul 31, 2013 7:41am EDT

July 31 (Reuters) - Asset manager Invesco Ltd reported a 32 percent rise in quarterly profit as it earned more from investment management fees.

The money manager, which oversees the Powershares line of exchange-traded funds, said net profit rose to $202.6 million, or 45 cents per share, for the second quarter from $153.9 million, or 34 cents per share, a year earlier.

Total assets under management fell to $705.6 billion as of June 30 from $707.7 billion at the end of the first quarter.