In plunging markets thanks to politicians in the USA and the Greek Crisis contagion fear in Europe
Invesco Limited reported
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* Q2 adjusted EPS 44 cents against the Street prediction of 43 cents
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* Assets under management up 2 pct to $653.7 bln
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Invesco, which has a strong presence in the UK, said it plans to increase spending in Europe to expand there.
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Chief Executive Martin Flanagan said Europe offers "tremendous opportunities for us," including with retail, institutional and exchange-traded fund customers. "We want to be Top 5," Flanagan said, noting his firm ranked in the Top 20 last year by assets under management in Europe.
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The company spent $5.8 million on the Europe initiative during Q2 and plans to spend another $34 million over the next year and a half as it makes changes to its distribution and transfer agency functions. The spending will generate cost savings, adding about 2 cents a share to annual earnings starting in 2013, it said.
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Invesco's net inflows in the second quarter totaled $7.3 billion, including $3.5 billion into bond funds and $3.5 billion into short-term money funds. Stock fund customers pulled out a net $2.6 billion.
| IVZ | 19:16 BST | $21.55 | - 0.63c  2.84% |
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