Invesco said average AUM for 2024 was $1,712.2 billion, an increase from $1,500.6 billion in 2023. Net revenue yield excluding performance fees and Invesco QQQ Trust declined to 30.2 basis points from 32.4 basis points, and the company cited a shift in AUM composition toward lower yield products as a factor.

1. 01

   Invesco said average AUM for 2024 was $1,712.2 billion, an increase from $1,500.6 billion in 2023. Net revenue yield excluding performance fees and Invesco QQQ Trust declined to 30.2 basis points from 32.4 basis points, and the company cited a shift in AUM composition toward lower yield products as a factor.

2. 02

   Invesco disclosed that investment management fees for 2024 were $4,342.3 million, compared to $4,106.0 million in 2023; service and distribution fees were $1,479.7 million, compared to $1,374.6 million in 2023; and performance fees were $46.4 million, compared to $46.7 million in 2023.

3. 03

   The company redeemed $600 million in senior notes due on January 30, 2024, and ended 2024 with cash and cash equivalents of $1 billion and a zero balance on its revolving credit facility. The carrying value of debt was $890.6 million, and the company repurchased 2.9 million shares for $49.6 million in the open market during 2024.

4. 04

   In its annual impairment analysis as of October 1, 2024, Invesco said the estimated fair value of indefinite-lived intangible assets related to U.S. retail mutual fund management contracts exceeded their carrying value of $4,572.1 million by $267.4 million, or 6%. The company said that if the discount rate rose by 15 basis points, the headroom would decrease to $206.2 million.

Key figures

Fiscal year ended December 31, 2024

Revenue

$6.1B

Operating income

$832M

Net income

$538M

EPS

$1.18

Operating cash flow

$1.2B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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