Q1 2025 Invesco Ltd Earnings Call Transcript
Key Points
- Invesco Ltd (IVZ) reported $17.6 billion in long-term net asset inflows, representing a 5.3% annualized growth rate.
- The company achieved an 18% increase in adjusted operating income and expanded operating margins by over 330 basis points compared to the same quarter last year.
- Invesco Ltd (IVZ) announced a strategic partnership with MassMutual and Barings, focusing on private market product development and distribution in the US wealth management market.
- The company successfully repurchased $1 billion of preferred stock from MassMutual, which is expected to be earnings accretive in the second half of the year.
- Invesco Ltd (IVZ) saw strong growth in its Global ETF and Index platform, with a 13% annualized organic growth rate in the first quarter.
- The company experienced net long-term outflows of $1.1 billion in its multi-asset related capabilities, driven by global risk parity strategies.
- Invesco Ltd (IVZ) faced continued outflows in its Fundamental Equities, particularly in global equities and developing market funds in the US region.
- The partnership with Barings and MassMutual is expected to take time to scale, with initial phases focusing on private credit opportunities.
- The company reported a decline in net revenue yield, which decreased to 23.5 basis points in the first quarter.
- Invesco Ltd (IVZ) noted that market volatility has made it challenging to provide specific guidance on operating expenses, indicating potential uncertainty in cost management.
Thank you for standing by, and welcome to Invesco's first-quarter earnings conference call. (Operator Instructions) As a reminder, today's call is being recorded. Now I'd like to turn the call over to Greg Ketron, Invesco's Head of Investor Relations. Thank you. You may begin.
Okay. Thanks, Cedric, and to all of you joining us on the Invesco's quarterly earnings call. In addition to today's press release, we have provided a presentation that covers the topics we plan to address. The press release and presentation are available on our website, invesco.com. This information can be found by going to the Investor Relations section of the website.
Our presentation today will include forward-looking statements and certain non-GAAP financial measures. Please review the disclosures on slide 2 of the presentation regarding these statements and measures, as well as the appendix for the appropriate reconciliations to GAAP. Finally, Invesco is not responsible for and does not edit nor guarantee the accuracy
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