Invesco Ltd. reports recurring developments as a global asset management firm serving retail and institutional clients through equity, fixed income, ETF and index, private markets, multi-asset and global liquidity strategies. Company updates frequently cover assets under management, net long-term and money market flows, market and foreign-exchange effects on AUM, investment management fees, service and distribution fees, and quarterly operating results.
News also includes product and platform developments such as QQQ’s conversion to an open-end fund ETF, institutional ETF adoption research, and strategic partnerships tied to tokenized investment products and digital asset infrastructure.
Invesco (NYSE: IVZ) reported financial results for Q3 2024, with diluted EPS of $0.12 and adjusted diluted EPS of $0.44. The company achieved $16.5 billion in net long-term inflows, primarily driven by ETFs, Index, and Fixed Income. Ending AUM grew to a record high of $1.8 trillion, a 4.7% increase from the previous quarter. The operating margin was 6.6%, impacted by a one-time non-cash expense of $147.6 million, while the adjusted operating margin was 31.6%.
Invesco maintained a strong balance sheet with over $1 billion in cash and cash equivalents and no balance on its credit facility. The company repurchased 1.5 million common shares for $25 million during the quarter. CEO Andrew Schlossberg highlighted positive momentum, record long-term AUM, and improved operating income and margin. The company saw positive organic growth across all regions, with Asia Pacific leading at 9%.
Invesco Advisers, Inc., a subsidiary of Invesco (NYSE: IVZ), has announced details for the liquidation of Invesco High Income 2024 Target Term Fund (NYSE: IHTA). The Fund is set to terminate and liquidate on or about December 2, 2024. As it prepares for liquidation, the Fund will deviate from its stated investment strategy, moving assets to high-quality, short-term securities, U.S. Treasury securities, and cash equivalents. As of October 21, 2024, the Fund's portfolio consisted of approximately 100% cash and cash equivalents.
The Fund's objective to return the original NAV of $9.835 per share to common shareholders on the Termination Date is not expected to be met. As of October 18, 2024, the Fund's NAV per share was $7.71. Trading of common shares on the NYSE will continue through November 25, 2024, and be suspended from November 26, 2024. A final liquidating distribution is anticipated on or about the Termination Date.
Invesco (NYSE: IVZ) reported preliminary month-end assets under management (AUM) of $1,795.6 billion as of September 30, 2024, representing a 2.5% increase from the previous month-end. The firm experienced net long-term inflows of $3.3 billion and money market net inflows of $11.2 billion. However, there were non-management fee earning net outflows of $0.6 billion.
AUM was positively impacted by favorable market returns, adding $25 billion. Additionally, FX and reinvested distributions increased AUM by $5.2 billion. Preliminary average total AUM for the quarter through September 30 was $1,742.0 billion, with preliminary average active AUM at $1,007.4 billion.
Invesco High Income Trust II (NYSE: VLT) and Invesco Senior Income Trust (NYSE: VVR) have declared dividends. VLT will distribute $0.09641 per share, while VVR will increase its monthly dividend to $0.04301 per share, up from $0.0390. Both funds operate under Managed Distribution Plans, aiming to provide consistent cash payments to shareholders.
The plans may narrow the discount between market price and NAV but don't guarantee this outcome. If investment income is insufficient, the funds may distribute capital gains or return capital to maintain the managed distribution level. Shareholders will receive a 19(a) Notice and press release disclosing dividend sources when distributions include anything other than net investment income.
Invesco (NYSE: IVZ) has announced it will release its third quarter 2024 results on Tuesday, October 22. The earnings release and presentation materials will be available on the company's Investor Relations website at approximately 7 a.m. ET. A conference call to discuss the results is scheduled for 9 a.m. ET on the same day.
Investors can access the live audio webcast and replay through the company's website. Those wishing to participate in the call can dial in using the provided toll-free and international numbers. An audio replay will be available approximately one hour after the call and will be accessible until November 7, 2024.
Invesco announced dividend payments for two of its closed-end funds: Invesco High Income Trust II (VLT) and Invesco Senior Income Trust (VVR). The dividends will be paid on September 30, 2024, with an ex-date, record date, and reinvest date of September 17, 2024. VLT will pay $0.09641 per share, while VVR will pay $0.04301 per share.
VVR's dividend represents an increase from its previous fixed monthly distribution of $0.0390 per share, effective October 1, 2023. Both funds operate under Managed Distribution Plans, with VLT targeting a distribution rate of 8.5% of the closing market price as of August 1, 2018.
The funds estimate that a portion of the distributions may be a return of capital. The fiscal year-to-date cumulative total returns are 18.53% for VLT and 17.03% for VVR, with current annualized distribution rates of 9.94% and 12.93%, respectively.
Invesco Mortgage Capital Inc. (NYSE: IVR) has announced a quarterly cash dividend for the third quarter of 2024. The company's Board of Directors has declared a dividend of $0.40 per share of common stock. This dividend will be paid on October 25, 2024 to stockholders of record at the close of business on October 7, 2024. The ex-dividend date is also set for October 7, 2024.
Invesco (NYSE: IVZ) reported preliminary assets under management (AUM) of $1,751.8 billion as of August 31, 2024, marking a 1.1% increase from the previous month-end. The firm experienced net long-term inflows of $2.4 billion and non-management fee earning net inflows of $0.9 billion. However, there were money market net outflows of $6.4 billion.
Favorable market returns boosted AUM by $16 billion, while foreign exchange movements contributed an additional $7.3 billion. Preliminary average total AUM for the quarter through August 31 stood at $1,730.2 billion, with preliminary average active AUM at $1,003.3 billion.
Invesco has announced dividend payments for two of its closed-end funds: Invesco High Income Trust II (VLT) and Invesco Senior Income Trust (VVR). VLT will pay a monthly dividend of $0.09641 per share, while VVR will pay $0.04301 per share. Both dividends are payable on August 30, 2024, with an ex-date and record date of August 16, 2024. VVR's dividend represents an increase from its previous fixed monthly distribution of $0.0390 per share, effective October 1, 2023. Both funds operate under Managed Distribution Plans, with VLT targeting a distribution rate of 8.5% of its closing market price as of August 1, 2018. The distributions are estimated to include a portion of return of capital, and shareholders will receive a Form 1099-DIV for tax reporting purposes.
Invesco (NYSE: IVZ) reported preliminary month-end assets under management (AUM) of $1,732.0 billion as of July 31, 2024, marking a 0.9% increase from the previous month-end. The firm experienced net long-term inflows of $10.8 billion and non-management fee earning net inflows of $3.2 billion. However, money market net outflows were $12.1 billion. Favorable market returns contributed to a $9 billion increase in AUM, while FX movements added $4.9 billion. Preliminary average total AUM for the quarter through July 31 stood at $1,727.8 billion, with average active AUM at $1,005.3 billion. The report also provided a breakdown of AUM across various investment strategies, with ETFs & Index Strategies showing the largest month-over-month increase.