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Invesco

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Invesco Ltd.
Company typePublic
ISINBMG491BT1088
IndustryFinancial services
Founded1978; 46 years ago (1978)
FounderCharles W. Brady
HeadquartersAtlanta, Georgia, U.S.
Key people
ProductsInvestment management: real estate, distressed investing, bank loans, quantitative equity, fundamental equity, Fixed income, hedge funds, Fund of funds, environmental investing and ETFs
RevenueDecrease US$5.72 billion (2023)
Decrease US$−435 million (2023)
Decrease US$−334 million (2023)
AUMIncrease US$1.59 trillion (2023)
Total assetsDecrease US$28.9 billion (2023)
Total equityDecrease US$14.6 billion (2023)
Number of employees
8,489 (2023)
Subsidiaries
Websiteinvesco.com
Footnotes / references
[1][2]

Invesco Ltd. is an American independent investment management company that is headquartered in Atlanta, Georgia, with additional branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange.[3] Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.

History

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Invesco (then officially spelled with all-capital letters: INVESCO) was created in Atlanta in 1978 when Citizens & Southern National Bank divested its money management operations.[4] In 1988, the company was purchased by the British firm Britannia Arrow, based in London, which later took the INVESCO name.[5] In 1997 INVESCO PLC merged with AIM Investments.[6] Upon completion of the merger the company adopted the name Amvescap.[7] In 2007 the company reverted to the Invesco name.[8]

Since 2000 Invesco has grown through acquisitions such as the ETF firm PowerShares Capital Management and the restructuring of WL Ross & Co.[6]

In 2004, the company agreed to a $450 million settlement with the Attorneys General of New York, Colorado and the SEC after allegations of improper trading practices.[9]

In May 2007 the company changed their name to Invesco (initial cap only) PLC, moved its primary stock market listing from the London Stock Exchange to the NYSE and became domiciled in Bermuda, adopting the name Invesco Ltd.[10] As a result, the company's shares were withdrawn from the FTSE 100 Index and added to the Russell 1000 Index.[11] In November 2007, Invesco moved its headquarters from London to Atlanta.[4]

Invesco planned to list the PowerShares Global Progressive Transportation Portfolio (PTRP on the Nasdaq Stock Market).[12][13] This fund was closed in 2010.[14]

On October 19, 2009, Invesco bought Morgan Stanley's Retail Unit, including Van Kampen Investments for $1.5 billion.[15]

In April 2010, Invesco Aim became Invesco. Later that year, it was reported that Invesco had plans to introduce a Risk parity commodity fund according to regulatory filings.[16]

In December 2013, Invesco reported assets under management (AUM) of $778.7 billion[17]

In September 2017, Invesco agreed to buy Guggenheim Investment's exchange-traded fund business for $1.2 billion in cash.[18]

On October 18, 2018, Invesco purchased OppenheimerFunds from MassMutual for about $5.7 billion in stock.[19]

In March 2020 amid a major stock market crash triggered by the COVID-19 pandemic, Invesco Mortgage Capital Inc., a branch handling Real Estate Investment Trusts, announced they were unable to cover margin calls due to dramatic devaluations and investors selling shares.[20] The company also announced they would delay dividend payments.

Financial statistics

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Year Ending Operating Revenue Net Income AuM Employees
31 December 2023 $5,716.4 million $−333.7 million $1,585.3 billion[1] 8,489
31 December 2022 $6,048.9 million $683.9 million $1,409.2 billion[21] 8,611
31 December 2021 $6,894.5 million $1,393.0 million $1,610.9 billion[21] 8,513
31 December 2020 $6,145.6 million $524.8 million $1,349.9 billion[22] 8,512
31 December 2019 $6,117.4 million $564.7 million $1,226.2 billion[22] 8,821
31 December 2018 $5,314.1 million $882.8 million $888.2 billion[23] 7,459
31 December 2017 $5,160.3 million $1,127.3 million $937.6 billion 7,030
31 December 2016 $4,734.4 million $854.2 million $812.9 billion 6,790
31 December 2015 $5,122.9 million $968.1 million $775.6 billion[24] 6,490
31 December 2014 $5,147.1 million $988.1 million $792.4 billion[25] 6,264
31 December 2013 $4,644.6 million $940.3 million $778.7 billion[26] 5,932
31 December 2012 $4,177.0 million $677.1 million $687.7 billion[27] 6,128
31 December 2011 $4,092.2 million $729.7 million $625.3 billion[28] 6,162
31 December 2010 $3,487.7 million $465.7 million $616.0 billion[29] 5,617
31 December 2009 $2,673.3 million $322.5 million $423.1 billion[30] 4,890
31 December 2008 $3,307.6 million $481.7 million $357.2 billion[31] 5,325
31 December 2007 $3,878.9 million $673.6 million $500.1 billion[32] 5,475
31 December 2006 $3,246.7 million $482.7 million $462.6 billion[33] 5,574
30 December 2005 $2,872.6 million $219.8 million $386.3 billion[34] 5,798

References

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  1. ^ a b "Invesco Ltd. 2023 Annual Report (10-K)". United States Securities and Exchange Commission. 21 February 2024.
  2. ^ "Remembering Charles W. Brady, 1935 - 2019". Invesco. Retrieved 8 January 2022.
  3. ^ "Company overview". Invesco. Archived from the original on 9 December 2007. Retrieved 7 December 2007.
  4. ^ a b Karkaria, Urvaksh (7 November 2007). "Invesco moving global HQ to Atlanta". Atlanta Business Chronicle. Retrieved 8 October 2014.
  5. ^ Chernoff, Joel (25 July 1994). "Invesco's U.K. business hit hard". Pensions & Investments. Retrieved 8 October 2014.
  6. ^ a b "Company history". Invesco. Archived from the original on 25 November 2010. Retrieved 7 December 2007.
  7. ^ Wyatt, Edward (5 November 1996). "Invesco to Acquire AIM for $1.6 Billion". The New York Times. ISSN 0362-4331. Retrieved 8 October 2014.
  8. ^ Coleman, Murray (24 May 2007). "Amvescap officially switches name to Invesco". marketwatch.com. Retrieved 7 June 2019.
  9. ^ Timmons, Heather (8 September 2004). "2 Fund Groups to Pay $450 Million to End Inquiry". The New York Times. Retrieved 4 August 2008.
  10. ^ "Invesco PLC Shareholders Approve Relisting on the New York Stock Exchange" (PDF) (Press release). Invesco. 14 November 2007. Archived from the original (PDF) on 12 May 2008. Retrieved 1 December 2007.
  11. ^ "LSE to replace Invesco in UK's FTSE 100". Reuters. 30 November 2007. Retrieved 1 December 2007.[dead link‍]
  12. ^ "Invesco PowerShares to list Global Progressive Transportation ETF" (PDF). Invesco. Retrieved 25 December 2008.
  13. ^ "Green Transportation Fund Set to Launch". Greentech Media. Retrieved 25 December 2008.
  14. ^ "Invesco PowerShares Announces Changes to ETF Family". CNNMoney. 8 October 2010.
  15. ^ "Invesco Pulls the Trigger on Van Kampen Deal". Retrieved 20 October 2009.
  16. ^ Wall Street Journal, Oct 2 2010, How Risky Are Those Low Risks Funds? Eleanor Laise
  17. ^ "Invesco Ltd. Announces December 31, 2013 Assets Under Management" (PDF). Archived from the original (PDF) on February 2, 2014. Retrieved January 30, 2014.
  18. ^ Baer, Justin (28 September 2017). "The Price Invesco Is Paying for Guggenheim's ETF Business: $1.2 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 4 October 2017.
  19. ^ "Invesco Will Buy OppenheimerFunds for $5.7 Billion in All-Stock Deal". 18 October 2018.
  20. ^ Patricia Clark (March 24, 2020). Invesco Mortgage Capital Warns It Can’t Fund Margin Calls, Yahoo Finance, accessed 24 March 2020
  21. ^ a b "Invesco Ltd. 2022 Annual Report (10-K)". United States Securities and Exchange Commission. 23 February 2022.
  22. ^ a b "Invesco Reports Results for the Three Months and Year Ended December 31, 2020". invesco.com. 26 January 2021. Retrieved 17 April 2021.
  23. ^ "Invesco Ltd. Announces January 31, 2019 Assets Under Management" (PDF).
  24. ^ Invesco 2015 Form 10-K Filing
  25. ^ Invesco 2014 Form 10-K Filing
  26. ^ Invesco 2013 Form 10-K Filing
  27. ^ Invesco 2012 Form 10-K Filing
  28. ^ Invesco 2011 Form 10-K Filing
  29. ^ Invesco 2010 Form 10-K filing
  30. ^ Invesco 2009 Form 10-K Filing
  31. ^ Invesco Form 2008 10-K Filing
  32. ^ Invesco 2007 Form 10-K Filing
  33. ^ Invesco 2006 Form 20-F Filing
  34. ^ Invesco 2005 20-F Filing
[edit]
  • Invesco Official website
  • Business data for Invesco:
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