Company Reports

Invesco ended September with $2.538 trillion in assets under management, up 2.7% sequentially and 19.4% year over year. Adjusted revenue rose 16.5% year over year in the third quarter, with adjusted operating margin increasing 645 basis points to 40.7%.

With the US equity markets up just 2.3% in the third quarter, the 2.2% average stock gain recorded by the traditional US asset managers kept year-to-date average total returns for the group above the market's return (as represented by the S&P 500 TR index) at the end of September.

Invesco exited August 2026 with a record $2.6 trillion in managed assets, up 24.2% year to date on $204.3 billion of market gains and $103.1 billion worth of net inflows for the firm's long-term assets under management.

Invesco was once a top pick among the traditional US-based asset managers we cover, generating solid organic assets under management growth with its long-term managed assets (1.7% annually on average during 2008-17) and operating with a diversified platform. We held this opinion even though the firm generated below-average operating profitability, primarily because this was the cost of doing business in its more retail-centric platform.

Invesco closed July with $2.447 trillion in managed assets, down 0.9% since the end of the second quarter on weaker equity markets, offset slightly by $8.6 billion worth of net inflows for the firm's long-term assets under management.

Invesco was once a top pick among the traditional US-based asset managers we cover, generating solid organic assets under management growth with its long-term managed assets (1.7% annually on average during 2008-17) and operating with a diversified platform. We held this opinion even though the firm generated below-average operating profitability, primarily because this was the cost of doing business in its more retail-centric platform.

Invesco ended June 2026 with a record $2.470 trillion in assets under management, up 14.4% sequentially and 23.4% year over year. The firm's adjusted revenue rose 20.3% year over year in the second quarter, while adjusted operating margins increased by 635 basis points to 37.5%.

Invesco ended June 2026 with a record $2.470 trillion in managed assets, up 23.4% year over year on strong equity market performance and continued strong inflows.

Invesco was once a top pick among the traditional US-based asset managers we cover, generating solid organic assets under management growth with its long-term managed assets (1.7% annually on average during 2008-17) and operating with a diversified platform. We held this opinion even though the firm generated below-average operating profitability, primarily because this was the cost of business in its more retail-centric distribution platform.

With the US equity markets up more than 15% in the second quarter and more than 10% year to date at the end of June 2026, most of the traditional asset managers have positive momentum coming into the second-quarter earnings season.

Invesco was once a top pick among the traditional US-based asset managers we cover, generating solid organic assets under management growth with its long-term managed assets (1.7% annually on average during 2008-17) and operating with a diversified platform. We held this opinion even though the firm generated below-average operating profitability, primarily because this was the cost of business in its more retail-centric distribution platform.

Invesco ended March with $2.160 trillion in assets under management, down 0.5% sequentially but up 17.1% year over year. Despite slightly higher fee rates, adjusted first-quarter revenue rose 14.0% year over year, with adjusted operating margin increasing 295 basis points to 34.5%.

While Invesco is not immune to the fee compression continuing to impact the US-based traditional asset managers, the firm should see a bump (or at least a less onerous decline) in its fee rate this year following the conversion of the Invesco QQQ Trust to an open-end fund ETF in late December 2025.

Invesco was once a top pick among the traditional US-based asset managers we cover, having generated solid organic assets under management growth with its long-term managed assets (1.7% annually on average during 2008-17) and operating with a diversified platform. We held this opinion despite the firm generating below-average operating profitability, primarily because this was the cost of business for it in its more retail-centric distribution platform.

Invesco ended December with a record $2.170 trillion in assets under management, up 2.1% sequentially and 17.5% year over year. Despite fee rates being down, adjusted fourth-quarter revenue grew 10.6% year over year, and adjusted operating margin increased 265 basis points to 36.4%.

Invesco was once a top pick among the traditional US-based asset managers we cover, having generated solid organic assets under management growth with its long-term managed assets (1.7% annually on average during 2008-17) and operating with a diversified platform. We held this opinion despite the firm generating below-average operating profitability, primarily because this was the cost of business for it in its more retail-centric distribution platform.

Invesco was once a top pick among the traditional US-based asset managers we cover, having generated solid organic assets under management growth with its long-term managed assets (1.7% annually on average during 2008-17) and operating with a diversified platform. We held this opinion despite the firm generating below-average operating profitability, primarily because this was the cost of business for it in its more retail-centric distribution platform.

Invesco ended September 2025 with a record $2.125 trillion in assets under management, up 6.2% sequentially and 18.3% year over year. Despite fee rates being down year over year, adjusted third-quarter revenue grew 7.4%, with adjusted operating margins increasing 260 basis points to 34.2%.

Invesco was once a top pick among the traditional US-based asset managers we cover, having generated solid organic assets under management growth with its long-term managed assets (1.7% annually on average during 2008-17) and operating with a diversified platform. We held this opinion despite the firm generating below-average operating profitability, primarily because this was the cost of business for it in its more retail-centric distribution platform.

For a long time, Invesco was one of our top picks among the traditional US-based asset managers we cover, having generated solid organic growth in its long-term assets under management (1.7% annually on average during 2008-17) with a broadly diversified platform (including a niche ETF product platform). We held this opinion despite the firm generating below-average operating profitability, primarily because of the costs associated with its more retail-centric distribution platform.