Invesco Ltd. (IVZ): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de la gestion des actifs, Invesco Ltd. (IVZ) est une puissance mondiale, fabriquant des solutions d'investissement innovantes qui transcendent les frontières traditionnelles. Avec un modèle commercial sophistiqué qui mélange les partenariats stratégiques, la technologie de pointe et l'expertise complète des investissements, Invesco s'est positionné comme un acteur formidable dans le paysage des services financiers. Des investisseurs institutionnels aux particuliers fortunés, l'approche solide de la société de la gestion de la patrimoine et des stratégies d'investissement offre un récit convaincant de l'innovation financière et du service centré sur le client.

Invesco Ltd. (IVZ) - Modèle commercial: partenariats clés

Alliances stratégiques avec des institutions financières et des sociétés de courtage

Invesco maintient des partenariats stratégiques avec plusieurs institutions financières, notamment:

Partenaire	Type de partenariat	Détails clés
Charles Schwab	Partenariat de distribution	Plateforme de distribution des FNB et des fonds communs de placement
Investissements de fidélité	Collaboration de produits d'investissement	Services de gestion des investissements partagés
Morgan Stanley	Services d'investissement institutionnel	Solutions de gestion de la patrimoine et de consultation

Collaboration avec les fournisseurs mondiaux de recherche et d'analyse d'investissement

Invesco collabore avec les sociétés de recherche et d'analyse pour améliorer les stratégies d'investissement:

• Morningstar - Recherche d'analyse comparative de performance et d'investissement
• Bloomberg - Intégration des données financières et analytiques
• FactSet - Services de données de recherche et financière

Partenariats avec les fournisseurs de technologies pour les plateformes d'investissement numérique

Les partenariats technologiques se concentrent sur les solutions d'investissement numérique:

Partenaire technologique	Focus technologique	Année de mise en œuvre
Microsoft Azure	Infrastructure cloud	2021
Salesforce	Gestion de la relation client	2019
Nvidia	IA et technologies d'apprentissage automatique	2022

Coentreprises avec des sociétés internationales de gestion d'actifs

Détails du partenariat international:

Partenaire	Région	Portée du partenariat
Ping une assurance	Chine	Coentreprise de gestion des actifs
Investisseurs mondiaux Allianz	Europe	Stratégies d'investissement transfrontalières

Invesco Ltd. (IVZ) - Modèle d'entreprise: Activités clés

Services de gestion des actifs et d'investissement

Au quatrième trimestre 2023, Invesco a géré 1,636 billion de dollars en actifs mondiaux sous gestion. La société fournit des services de conseil en investissement dans plusieurs classes d'actifs et stratégies d'investissement.

Classe d'actifs	Actifs sous gestion
Actions	643 milliards de dollars
Revenu fixe	454 milliards de dollars
Alternatives	239 milliards de dollars
ETF	500 milliards de dollars

Construction de portefeuille et gestion des risques

Invesco utilise des techniques de gestion des risques sophistiquées à travers ses stratégies d'investissement.

• Équipe de gestion des risques de 87 professionnels dévoués
• Modèles d'évaluation des risques propriétaires couvrant plusieurs scénarios de marché
• Cadres d'analyse quantitative avancés

Développement de produits pour les fonds communs de placement et les FNB

En 2023, Invesco a lancé 12 nouveaux produits ETF et 8 nouvelles stratégies de fonds communs de placement.

Type de produit	Nombre de produits	Actif total
Fonds communs de placement	640	786 milliards de dollars
ETF	228	500 milliards de dollars

Recherche d'investissement et analyse du marché

Invesco maintient une infrastructure de recherche mondiale avec 350 professionnels de l'investissement dans 25 bureaux mondiaux.

• Couverture de recherche dans 45 pays
• Capacités de recherche multilingues
• Équipes de recherche dédiées aux capitaux propres, à revenu fixe et à des investissements alternatifs

Gestion des relations avec les clients et planification de la richesse

Invesco dessert des clients institutionnels et de détail sur plusieurs segments.

Segment client	Nombre de clients	Taille moyenne du compte
Investisseurs institutionnels	3,200	185 millions de dollars
Investisseurs de détail	200,000+	$275,000
Gestion de la richesse	45,000	1,2 million de dollars

Invesco Ltd. (IVZ) - Modèle d'entreprise: Ressources clés

Professionnels de la gestion des investissements expérimentés

Au quatrième trimestre 2023, Invesco a employé 8 550 employés au total dans le monde. Les professionnels de l'investissement ont due environ 2 300.

Catégorie professionnelle	Nombre de professionnels
Gestionnaires de placements	1,100
Analystes de recherche	650
Stratèges de portefeuille	550

Outils de recherche et analyse d'investissement propriétaires

Invesco maintient des plateformes de recherche sophistiquées avec un investissement technologique annuel de 187 millions de dollars en 2023.

• Systèmes de recherche quantitative
• Analyse de gestion des risques
• Outils d'attribution des performances
• Algorithmes d'investissement d'apprentissage automatique

Portefeuille diversifié de produits d'investissement

Total des actifs sous gestion (AUM) au 31 décembre 2023: 1,64 billion de dollars

Catégorie de produits	Aum ($ b)
Fonds de capitaux propres	$612
Fonds à revenu fixe	$438
Investissements alternatifs	$290
ETF	$300

Infrastructure de technologie avancée

Investissement infrastructure technologique pour 2023: 224 millions de dollars

• Plates-formes de cloud computing
• Systèmes de cybersécurité
• Infrastructure d'analyse de données
• Technologies d'exécution commerciales

Réseau de distribution mondial

Présence opérationnelle dans 25 pays avec des capacités de distribution sur plusieurs canaux.

Canal de distribution	Portée du marché
Investisseurs institutionnels	48 pays
Investisseurs de détail	35 pays
Intermédiaires financiers	42 pays

Invesco Ltd. (IVZ) - Modèle d'entreprise: propositions de valeur

Gamme complète de solutions d'investissement

Au quatrième trimestre 2023, Invesco gère 1,64 billion de dollars d'actifs mondiaux sous gestion (AUM). La société propose des solutions d'investissement dans plusieurs catégories:

Catégorie d'investissement	Aum ($ b)
Stratégies d'actions	$624
Revenu fixe	$386
Multi-actifs	$276
Alternatives	$354

Stratégies d'investissement actives et passives

Répartition de la stratégie d'investissement d'Invesco:

• Gestion active: 62% du total AUM
• Gestion passive (FNB / Fonds d'index): 38% du total AUM
• Total ETF AUM: 342 milliards de dollars

Services de gestion de patrimoine personnalisés

Offres de services de gestion de patrimoine:

• Clients institutionnels: 892 milliards de dollars AUM
• Investisseurs de détail: 486 milliards de dollars AUM
• Individus de valeur nette élevée: 262 milliards de dollars AUM

Expertise dans plusieurs classes d'actifs et marchés

Marché géographique	Aum ($ b)
Amérique du Nord	$982
Europe	$426
Asie-Pacifique	$232

Plateformes de technologie d'investissement innovante

Plateformes d'investissement technologique:

• Plateformes d'investissement numériques: 7 plateformes propriétaires
• Investissement technologique annuel: 124 millions de dollars
• Croissance de l'acquisition du client numérique: 18% d'une année à l'autre

Invesco Ltd. (IVZ) - Modèle d'entreprise: relations avec les clients

Conseils d'investissement personnalisés

Invesco fournit des conseils d'investissement personnalisés via plusieurs canaux:

Service consultatif	Segment client	Actifs moyens sous gestion
Avis de gestion de la patrimoine	Individus de valeur nette élevée	89,4 milliards de dollars (Q4 2023)
Conseil d'investissement institutionnel	Fonds de pension, sociétés	211,3 milliards de dollars (Q4 2023)

Équipes de service à la clientèle dédiées

Invesco maintient des équipes de service à la clientèle spécialisées avec la structure suivante:

• Gestionnaires de relations dédiées aux clients institutionnels
• Centres de support client 24/7
• Équipes de service à la clientèle régionale dans 20 pays

Plates-formes d'investissement en libre-service numériques

Les capacités de plate-forme numérique comprennent:

Fonctionnalité de plate-forme	Engagement des utilisateurs	Accès numérique
Gestion du portefeuille en ligne	1,2 million d'utilisateurs numériques actifs	Plates-formes mobiles et Web
Suivi des investissements en temps réel	Taux de satisfaction de la plate-forme numérique à 95%	Synchronisation multidevice

Informations et rapports de recherche réguliers du marché

Distribution de la recherche et des informations:

• Rapports d'analyse du marché mensuel
• Publications des perspectives économiques trimestrielles
• Stratégie d'investissement annuelle Livre blancs

Surveillance des performances du portefeuille en cours

Services de surveillance des performances:

Service de surveillance	Fréquence	Couverture
Suivi de performances de portefeuille automatisé	Mises à jour en temps réel	100% des portefeuilles gérés
Revues de performance trimestrielles	Tous les 3 mois	Clients institutionnels et de détail

Invesco Ltd. (IVZ) - Modèle d'entreprise: canaux

Plateformes d'investissement en ligne

Invesco exploite les plateformes numériques avec les caractéristiques suivantes:

Plate-forme	Utilisateurs actifs	Volume de transaction annuel
Invesco.com	1,2 million	87,3 milliards de dollars
Portail des investisseurs institutionnels	3 800 clients institutionnels	542,6 milliards de dollars

Réseaux de conseillers financiers

Distribution par le biais des canaux de conseiller financier:

• Conseillers financiers enregistrés totaux: 12 500
• Couverture du réseau: 48 États aux États-Unis
• Actif moyen sous gestion par conseiller: 62,4 millions de dollars

Équipes de vente directes

Structure des ventes directes d'Invesco:

Catégorie de vente	Nombre de représentants	Volume des ventes annuelles
Ventes institutionnelles	285	328,7 milliards de dollars
Ventes au détail	426	189,5 milliards de dollars

Marketing et communication numériques

Métriques d'engagement numérique:

• Abonnés des médias sociaux: 225 000
• Abonders du marketing par e-mail: 180 000
• Budget annuel de publicité numérique: 4,2 millions de dollars

Applications d'investissement mobiles

Performances de la plate-forme mobile:

Application mobile	Numéros de téléchargement	Utilisateurs mensuels actifs
Investisseur mobile Invesco	410,000	78,000

Invesco Ltd. (IVZ) - Modèle d'entreprise: segments de clientèle

Investisseurs institutionnels

Au quatrième trimestre 2023, Invesco gère 1,74 billion de dollars d'actifs institutionnels. Les segments institutionnels clés comprennent:

Type institutionnel	Valeur d'actif
Fonds de pension	532 milliards de dollars
Fonds de richesse souverain	214 milliards de dollars
Dotation	98 milliards de dollars

Individus à haute nette

Invesco sert des clients à forte valeur avec:

• Seuil d'investissement minimum de 250 000 $
• Services de gestion de patrimoine personnalisés
• Portefeuilles d'investissement personnalisés

Métriques du segment	Valeur
Actifs totaux à haute noue	387 milliards de dollars
Taille moyenne du compte	1,2 million de dollars

Investisseurs de détail

Invesco propose divers produits d'investissement au détail:

• Fonds communs de placement
• Fonds négociés en bourse (ETF)
• Options d'investissement à la retraite

Catégorie de produits de vente au détail	Actifs sous gestion
Fonds communs de placement	456 milliards de dollars
ETF	342 milliards de dollars

Plans de retraite d'entreprise

Statistiques clés du segment de la retraite des entreprises:

Type de plan	Actif total
Plans 401 (k)	276 milliards de dollars
Régimes de prestations définies	189 milliards de dollars

Intermédiaires financiers

Invesco soutient divers canaux intermédiaires financiers:

• Conseillers financiers indépendants
• Courtiers
• Banques

Canal intermédiaire	Actifs gérés
Conseillers indépendants	312 milliards de dollars
Courtiers	224 milliards de dollars

Invesco Ltd. (IVZ) - Modèle d'entreprise: Structure des coûts

Compensation et avantages sociaux des employés

En ce qui concerne le rapport annuel de 2023, les dépenses totales de rémunération et de prestations des employés d'Invesco étaient de 1,87 milliard de dollars.

Catégorie de dépenses	Montant (millions de dollars)
Salaires	1,245
Bonus de performance	385
Compensation en stock	165
Prestations de santé et de retraite	75

Investissements technologiques et infrastructures

Invesco a investi 312 millions de dollars dans la technologie et les infrastructures en 2023.

• Infrastructure de cloud computing: 98 millions de dollars
• Systèmes de cybersécurité: 67 millions de dollars
• Développement de la plate-forme numérique: 85 millions de dollars
• Matériel et logiciel informatique: 62 millions de dollars

Dépenses de marketing et de distribution

Les coûts de marketing et de distribution ont totalisé 423 millions de dollars en 2023.

Canal de distribution	Dépenses (millions de dollars)
Marketing numérique	142
Ventes institutionnelles	156
Marketing de vente au détail	125

Recherche et développement de produits

Les dépenses de R&D pour 2023 étaient de 187 millions de dollars.

• Recherche de stratégie d'investissement: 82 millions de dollars
• Innovation de produit: 65 millions de dollars
• Analyse du marché: 40 millions de dollars

Coûts de conformité réglementaire

Les dépenses totales de conformité réglementaire étaient de 95 millions de dollars en 2023.

Zone de conformité	Coût (millions de dollars)
Conformité légale	38
Gestion des risques	32
Rapports et audit	25

Invesco Ltd. (IVZ) - Modèle d'entreprise: Strots de revenus

Frais de gestion des produits d'investissement

Pour l'exercice 2023, Invesco a déclaré un chiffre d'affaires total de 4,9 milliards de dollars. Les frais de gestion constituaient la principale source de revenus, représentant environ 3,4 milliards de dollars de revenus totaux.

Catégorie de produits d'investissement	Revenus de frais de gestion (2023)
Fonds communs de placement	1,65 milliard de dollars
Produits ETF	1,2 milliard de dollars
Fonds d'investissement institutionnel	550 millions de dollars

Frais de performance

Les frais de performance pour 2023 ont totalisé 145 millions de dollars, ce qui représente 3% des revenus totaux.

Frais de service consultatif

Les revenus des services consultatifs ont atteint 310 millions de dollars en 2023.

Commissions de gestion des actifs

Les commissions de gestion des actifs ont généré 275 millions de dollars de revenus pour l'exercice 2023.

Classe d'actifs	Revenus de commission
Gestion des actions	165 millions de dollars
Gestion des titres à revenu fixe	110 millions de dollars

Revenus de service technologique et de plate-forme

Les services de technologie et de plate-forme ont contribué 120 millions de dollars à la source de revenus d'Invesco en 2023.

• Services de plate-forme numérique: 75 millions de dollars
• Solutions technologiques commerciales: 45 millions de dollars

Répartition totale des revenus pour 2023:

Flux de revenus	Montant	Pourcentage
Frais de gestion	3,4 milliards de dollars	69.4%
Frais de performance	145 millions de dollars	3%
Frais de service consultatif	310 millions de dollars	6.3%
Commissions de gestion des actifs	275 millions de dollars	5.6%
Services technologiques	120 millions de dollars	2.4%
Autres revenus	650 millions de dollars	13.3%

Invesco Ltd. (IVZ) - Canvas Business Model: Value Propositions

You're looking at what Invesco Ltd. offers to its clients-the core reasons they choose to put their money with the firm. Honestly, it boils down to breadth, scale, and a clear commitment to returning capital.

Comprehensive suite of active, passive, and alternative investment solutions

Invesco Ltd. provides a full spectrum of investment capabilities. As of late 2025, the firm manages assets across these distinct areas, which is key to serving diverse client needs. For instance, their total preliminary month-end Assets Under Management (AUM) reached $2,166.6 billion through October 31, 2025.

The value proposition here is the ability to offer everything from traditional stock-picking to rules-based strategies and specialized private investments. Here's a look at the AUM breakdown as of September 30, 2025, showing the scale of these different offerings:

Investment Capability	AUM (in billions) as of Sep 30, 2025
Total Assets Under Management	$2,124.8
ETFs & Index Strategies	$605.7
Fundamental Fixed Income	$308.8
Fundamental Equities	$299.6
Private Markets	$130.9

This shows you they aren't just an active manager or just an ETF provider; they cover the whole field. The firm delivered net long-term inflows of $28.9 billion in the third quarter of 2025, with strong demand across ETFs and Index products, Fundamental Fixed Income, and Private Markets.

Access to high-growth private market strategies for wealth clients

For wealth clients looking beyond public markets, Invesco Ltd. offers access to less liquid, potentially higher-return strategies. Their Private Markets portfolio stood at $132.8 billion as of August 31, 2025, and recorded $0.6 billion in net inflows during Q3 2025. This is an area management is prioritizing for growth. To be fair, the firm's direct real estate funds have $7 billion of dry powder ready to deploy into new deals.

The value here is the sourcing and structuring of these deals. For example, their partnership with Barings launched a multi-strategy credit offering for the US wealth channel.

Low-cost, tax-efficient passive products like the modernized QQQ ETF

The Invesco QQQ Trust, tracking the Nasdaq-100 Index, is a prime example of their passive offering. As of mid-2025, QQQ's Assets Under Management (AUM) was approximately $407.19 billion. This product is popular because it offers exposure to the world's leading innovators, and its expense ratio is a low 0.20%.

The performance speaks for itself, which is a huge value driver. As of September 30, 2025, the QQQ ETF's 10-year growth was 20.30%, beating the S&P 500's 15.27% over the same period. Plus, the companies within QQQ are investing heavily in the future:

• R&D investment as a % of sales for Invesco QQQ companies was 10.70% as of March 31, 2025.
• This compares to the S&P 500 average of 8.60% for the same period.

It's a low-cost vehicle delivering exposure to high-growth innovation. That's a compelling trade-off.

Global scale and local expertise across diverse asset classes

Invesco Ltd. is definitely a global player. They have offices in more than 20 countries. Their scale allows them to capture flows globally, with Q3 2025 net long-term inflows showing strength across regions: Asia Pacific brought in $11.4 billion, Americas $9.6 billion, and EMEA $7.9 billion.

While the most recent full geographic breakdown is from Q2 2025, it shows the distribution of their scale:

• Americas: 70% of AUM.
• Asia Pacific: 15% of AUM.
• EMEA: 15% of AUM.

This global footprint, combined with their comprehensive product suite, means they can serve clients wherever they are, using local knowledge to navigate diverse regulatory and market environments.

Consistent capital return to shareholders via a 3.5%+ dividend yield

You can count on Invesco Ltd. for income generation. As of December 2025, the indicated dividend yield stands at 3.31%. To be clear, the average yield over the preceding 12 months was higher, at 4.51%. Management is focused on balancing growth investment with shareholder returns, targeting a total payout ratio near 60% for both 2025 and 2026. The current payout based on free cash flow is 30.8%. They've increased the dividend for 3 years running, though the 10-year average increase is actually negative at -2.42%. Still, the current yield is a tangible return proposition.

Invesco Ltd. (IVZ) - Canvas Business Model: Customer Relationships

You're looking at how Invesco Ltd. manages its vast network of clients, which, as of October 31, 2025, commanded preliminary Assets Under Management (AUM) of $2,166.6 billion. This relationship structure has to cater to a massive scale, supported by over 8,300 employees serving clients in more than 120 countries.

The client base is clearly segmented, which dictates the relationship approach. As of September 2025, retail clients accounted for 70% of managed assets, while institutional clients represented the remaining 30%. This split means relationship management is a dual focus, requiring tailored service models for each group.

Dedicated institutional sales teams for large mandates and consulting are essential for securing that 30% institutional slice. These teams focus on the complex needs of pension funds, sovereign wealth funds, and large corporate clients, often involving bespoke mandates or consulting services that require deep, direct engagement. The firm's scale, with an average active AUM of $1,128.6 billion for the quarter ending October 31, 2025, underscores the size of these mandates.

High-touch support and training for financial advisors and wirehouses is key to reaching the 70% retail segment, which is often accessed through intermediaries. These advisors need constant updates and training on Invesco Ltd.'s comprehensive range of products, including its significant passive offerings, which made up 47% of total AUM as of September 2025. The firm's recent Q3 2025 revenue of $1.64 billion reflects the ongoing flow of assets through these channels.

For retail investors and advisors who prefer self-direction, digital tools and self-service portals are a must. While specific adoption rates aren't public, the firm's focus on technology is implied by guidance on one-time Alpha platform implementation costs in Q4 2025. This infrastructure supports the management of products like ETFs, which alone held $621.4 billion in AUM as of October 31, 2025.

The relationship-driven model for high-net-worth (HNW) private wealth requires a distinct, personalized touch, separate from the mass-market advisor support. This segment often overlaps with the institutional side but demands discretion and tailored solutions, likely drawing on the firm's Private Markets capabilities, which held $129.9 billion in AUM at the end of October 2025.

Proactive communication on market outlook and product performance is the thread connecting all these relationships. For instance, the release of the 2026 Investment Outlook in December 2025 demonstrates this commitment to thought leadership. This communication strategy is vital for maintaining confidence, especially when the firm is managing shareholder expectations, such as by anticipating a payout ratio of approximately 60% for both 2025 and 2026.

Here's a quick look at the scale of assets driving these relationship needs as of October 31, 2025:

Client Segment Focus	AUM (in billions USD)	Asset Class Example	AUM (in billions USD)
Retail (70% of AUM)	Approx. $1,516.6	ETFs & Index Strategies	$621.4
Institutional (30% of AUM)	Approx. $650.0	Fundamental Fixed Income	$309.4
Total Preliminary AUM	$2,166.6	QQQ (Specific ETF)	$410.8

You see the firm is actively managing its client mix; for example, net long-term inflows were $8.0 billion in October 2025, showing continued client acquisition or asset retention efforts. Finance: draft Q4 2025 client retention metrics by January 15, 2026.

Invesco Ltd. (IVZ) - Canvas Business Model: Channels

You're looking at how Invesco Ltd. (IVZ) gets its investment products into the hands of clients as of late 2025. It's a multi-pronged approach, relying on both traditional gatekeepers and modern direct access points. The sheer scale of their Assets Under Management (AUM) gives you a sense of the reach of these channels.

As of the preliminary month-end for October 31, 2025, Invesco Ltd.'s total AUM stood at $2,166.6 billion, up 2.0% from the previous month-end. The firm has over 8,300 employees serving clients in more than 120 countries.

Here is a look at the AUM allocation across key investment capabilities, which directly reflects the scale of the channels serving those products:

Investment Capability/Channel Proxy	AUM (in billions) as of October 31, 2025 (Preliminary)
Total Assets Under Management	$2,166.6
ETFs & Index Strategies	$621.4
China JV	$125.2
Fundamental Fixed Income	$309.4
Fundamental Equities	$301.5
QQQ (Specific ETF Strategy within the total)	$410.8

The distribution architecture relies on several distinct pathways:

• Global network of financial intermediaries (brokers, banks, RIAs): This channel supports the broad distribution of Invesco Ltd.'s active, passive, and alternative strategies, feeding into the overall AUM figures like Fundamental Fixed Income and Equities.
• Direct-to-client digital platforms for retail investors: While not explicitly quantified, this is implied by the strong performance in ETFs and Index Strategies, which are often accessed directly or via low-friction digital means.
• Strategic joint ventures, notably the China JV: This specific channel is significant, with the China JV holding $125.2 billion in AUM as of October 31, 2025. This represents a focused effort in a key growth market.
• Institutional sales force targeting pension funds and sovereign wealth funds: This force targets large asset owners. The firm noted that long-term net inflows were largely driven by ETFs and Index, China JV, and India (prior to its sale). Invesco Ltd. explicitly markets its capabilities to Institutional Investors and certain specific sovereign wealth funds in various regions.
• ETF listings on major global stock exchanges: This is a major component. Invesco Ltd. has 240 ETFs listed, which in a separate metric, represented $798.48 billion in total assets. The ETFs & Index Strategies segment alone accounted for $621.4 billion of the total AUM as of October 31, 2025.

The firm's strategy is to help both retail and institutional investors, using its global scale across more than 20 countries.

Invesco Ltd. (IVZ) - Canvas Business Model: Customer Segments

You're looking at the core client base for Invesco Ltd. as of late 2025, based on their reported asset flows and AUM structure. It's clear the firm manages significant capital, hitting a preliminary month-end AUM of $2,166.6 billion as of October 31, 2025.

The customer segments are served through a comprehensive range of investment vehicles, including ETFs, mutual funds, institutional separate accounts, and private placements. Here's a look at the quantitative breakdown of the client base activity based on the latest available figures.

Segment Metric	Value	Date/Period	Source Context
Total Preliminary Month-End AUM	$2,166.6 billion	October 31, 2025	Preliminary month-end AUM
Total AUM	$2.1 trillion	Q3 2025	Record AUM reported
Retail Channel AUM Percentage	68%	Q2 2025	AUM split by channel
Institutional Client AUM Percentage	32%	Q2 2025	AUM split by channel
Net Long-Term Inflows (Retail Clients)	$19.7 billion	Q3 2025	Net long-term inflows by client type
Net Long-Term Inflows (Institutional Clients)	$9.2 billion	Q3 2025	Net long-term inflows by client type

The client segments Invesco Ltd. targets include:

• Institutional Investors (pension funds, endowments, corporations)
• Retail Investors (individual investors through intermediaries)
• High-Net-Worth (HNW) and Ultra-HNW clients
• Sovereign Wealth Funds and public entities
• Financial Professionals (RIAs, financial advisors, consultants)

For Institutional Investors, the segment showed net long-term inflows of $9.2 billion in the third quarter of 2025. The overall institutional client base represented 32% of AUM as of the second quarter of 2025.

Retail Investors brought in $19.7 billion in net long-term inflows during the third quarter of 2025. This channel accounted for 68% of total AUM as of the second quarter of 2025.

For the High-Net-Worth (HNW) and Ultra-HNW clients, specific AUM or flow data is not explicitly separated from the general Retail or Institutional categories in the latest reports. However, the firm launched a successful partnership with Barings, introducing the Invesco Dynamic Credit Opportunity Fund, targeting the US wealth management market.

Sovereign Wealth Funds and public entities are typically categorized within the Institutional segment. The firm maintains a global presence with 15% of AUM from Asia Pacific and 15% from EMEA as of Q2 2025, suggesting international institutional client reach.

Financial Professionals, such as RIAs and advisors, access Invesco Ltd.'s offerings through various investment vehicles, including ETFs and mutual funds. The China JV and India segment, which reflects strategic partnerships and local distribution, saw net long-term inflows of $8.1 billion in Q3 2025, with the China JV reaching a record AUM of $122 billion, a 16% increase over the previous quarter.

Invesco Ltd. (IVZ) - Canvas Business Model: Cost Structure

You're looking at the costs Invesco Ltd. incurs to run its global asset management business as of late 2025. Honestly, for a firm managing $2.1 trillion in Assets Under Management (AUM) as of September 30, 2025, keeping expenses disciplined while investing in growth is the tightrope walk.

The bulk of the costs fall under operating expenses. For the third quarter of 2025, Invesco Ltd.'s Adjusted Operating Expenses totaled $780.2 million, which was an increase of 3.3% compared to the third quarter of 2024. This figure is the aggregate of several key cost centers.

Key Cost Components

Here's a breakdown of where the money is going, based on the latest reported figures:

• Employee compensation and benefits: This is defintely the largest operating expense. The increase in Adjusted Operating Expenses from Q2 2025 to Q3 2025, which was $20.0 million, was primarily driven by higher variable compensation costs linked to the higher revenues seen in that period. Invesco's compensation philosophy ties a significant portion of pay, especially for higher-level employees, to performance through deferred investment portfolios. Benefits include market-competitive pay, 401(K) matching of 100% up to the first 6% with a supplemental contribution, and health/wellness programs for its over 8,300 employees.
• Technology and data costs: You asked specifically about the Alpha platform implementation. Management guided that one-time implementation costs for the Alpha platform are expected to be between $10 million and $15 million in the fourth quarter of 2025. This investment is aimed at future streamlining and cost savings targeted for 2027 and beyond.
• Distribution and marketing expenses: Costs related to getting the funds sold are significant. Third-party distribution, service, and advisory costs specifically rose by $57.6 million in Q3 2025 compared to the prior quarter, largely because the average AUM was higher, meaning more fees were paid out based on assets.
• General and administrative expenses: These are wrapped into the total operating expenses. They cover everything from global office footprints to overhead for the firm's operations across more than 120 countries.

It's helpful to see how the major expense categories stack up relative to the total adjusted operating expenses for Q3 2025, though not all line items are broken out in the same reporting period. Here's a snapshot using the available data points:

Cost Category	Latest Reported Amount (or Range)	Period/Context
Adjusted Operating Expenses (Total)	$780.2 million	Q3 2025
Employee Compensation (Variable Cost Driver)	Increase of $20.0 million	QoQ increase from Q2 2025 to Q3 2025
Distribution, Service & Advisory Costs (Third-Party)	Increase of $57.6 million	QoQ increase from Q2 2025 to Q3 2025
Alpha Platform Implementation Cost	$10 million to $15 million	Expected for Q4 2025

The firm is actively managing its balance sheet, which directly impacts its financing costs. You can see the commitment to debt reduction in the recent activity.

Interest Expense and Debt Management

Invesco Ltd. is focused on strengthening its balance sheet by paying down borrowings. This directly reduces future interest expense. For instance, during the third quarter of 2025, the company repaid $260.0 million of bank term loans and reported a zero balance on its revolving credit agreement at the end of the quarter.

The impact on interest expense is visible in prior periods, though the latest figure is for Q2 2025. Interest expense, on a GAAP basis, was ($20.7) million in the second quarter of 2025. As of September 30, 2025, the total long-term debt stood at $1.62 billion. This active repayment strategy is designed to lower the ongoing interest burden.

The structure of executive equity awards also ties compensation costs to financial performance metrics, specifically requiring achievement of targeted adjusted operating margin and relative Total Shareholder Return (TSR) over a multi-year period. Finance: draft 13-week cash view by Friday.

Invesco Ltd. (IVZ) - Canvas Business Model: Revenue Streams

You're looking at how Invesco Ltd. actually brings in the money, which, as you know, is almost entirely tied to the assets they manage. The primary engine here is the investment management fees based on AUM (Assets Under Management). This stream is directly proportional to the total assets Invesco oversees, which hit a record of $2.1 trillion at the end of the third quarter of 2025. The average long-term AUM for Q3 2025 was $1.46 trillion, up 9% from the previous quarter.

For the third quarter of 2025, the increase in net revenue was largely fueled by these investment management fees, which were $102 million higher than the same quarter last year, directly reflecting that higher average AUM. This fee revenue yield, which shows how much Invesco earns per dollar managed, stabilized at 22.9 basis points for Q3 2025.

The second key component is service and distribution fees, which can include things like 12b-1 fees. These fees saw a decrease of $6.1 million in the first quarter of 2025, despite higher average AUM, due to lower fund-related service fees. To give you a broader picture, the Trailing Twelve Months (TTM) revenue ending September 2025 showed Investment Management Fee Revenue at $4.51 billion and Service and Distribution Fee Revenue at $1.52 billion.

Then you have the performance fees from actively managed and alternative strategies. This revenue is less predictable, as it depends on actively managed funds beating their benchmarks. For the TTM period ending September 2025, Performance Fee Revenue was reported at $46.70 million. You saw lower performance fees impacting net revenues in the second quarter of 2025.

The overall top-line number for the third quarter of 2025 was a Net Revenue of $1.2 billion, which was $82 million higher compared to the same quarter last year. Honestly, the stability of the core management fees, driven by strong inflows into passive products, is what anchors this whole structure.

Here's a quick look at the scale of these revenue streams based on the latest available TTM data ending September 2025:

Revenue Stream Component	TTM Revenue (Millions USD)	Context/Notes
Investment Management Fee Revenue	4,510.00	Primary source, driven by AUM growth.
Service and Distribution Fee Revenue	1,520.00	Related to fund services.
Performance Fee Revenue	46.70	Variable, tied to active strategy outperformance.
Other Revenue	202.00	Includes transaction fees.

The revenue generation is heavily influenced by where client demand is flowing. You can see the shift in the asset mix impacting the yield. Here are the key drivers shaping the revenue profile:

• Net long-term inflows of nearly $29 billion in Q3 2025.
• Strongest inflows from ETFs and Index products at $21.4 billion in Q3 2025.
• China JV & India segment contributed $8.1 billion in net long-term inflows in Q3 2025.
• Fundamental Equities saw net outflows of $5.0 billion in Q3 2025.
• The firm generated positive operating leverage of 410 basis points year-over-year in Q3 2025.

Finance: draft the Q4 2025 revenue projection based on the current AUM trajectory by next Tuesday.