Invesco's first-quarter profit falls 15.5 percent

NEW YORK Thu May 1, 2014 7:46am EDT

NEW YORK May 1 (Reuters) - Invesco Ltd, which oversees the PowerShares line of exchange-traded funds, said on Thursday that its first-quarter profit fell 15.5 percent as business operating expenses increased.

The Atlanta-based money manager said net profit fell to $187.8 million, or 43 cents per share, from $222.2 million, or 49 cents per share, a year earlier. (Reporting by Ashley Lau in New York)