Com m itm ent to investm ent excellence Martin L. Flanagan - - PowerPoint PPT Presentation
Bank of America/ Merrill Lynch Banking and Financial Services Conference Com m itm ent to investm ent excellence Martin L. Flanagan President and Chief Executive Officer Invesco Ltd. November 15, 2011 All information as of September 30, 2011
All information as of September 30, 2011 unless otherwise noted. Please refer to the Appendix for important information
Source: Invesco. All data as of September 30, 2011. Invesco Ltd. AUM includes all assets under advisement, distributed and overseen by Invesco, including those of its affiliates Invesco Distributors, Inc. and Invesco PowerShares Capital Management LLC, which have an agreement with Deutsche Bank to provide certain marketing services for the PowerShares DB products. Invesco PowerShares Capital Management LLC is the sponsor for the PowerShares QQQ and BLDRS products and unit investment trusts. ALPS Distributors, Inc. is the distributor of PowerShares QQQ, BLDRS Funds and the PowerShares DB Funds. Invesco PowerShares Capital Management LLC and Invesco Distributors, Inc. are wholly-owned, indirect subsidiaries of Invesco Ltd. Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.’s retail products. Invesco Ltd. is not affiliated with ALPS Distributors, Inc. or Deutsche Bank.
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Source: Invesco. Client-related data, investment professional and employee data are as of Sept. 30, 2011. Invesco Ltd. assets under management are as of Sept. 30, 2011; refer to page 2 for additional information on AUM. The listed centers do not all provide products or services that are available in all jurisdictions, nor are their products and services available on all platforms. The entities listed are each wholly owned, indirect subsidiaries of Invesco Ltd., except ALPS Distributors Inc., Deutsche Bank and Invesco Great Wall in Shenzhen, which is a joint venture between Invesco and Great Wall Securities, and the Huaneng Invesco WLR Investment Consulting Company Ltd. in Beijing, which is a joint venture between Huaneng Capital Services and WL Ross & Co. Please consult your Invesco representative for more information.
Credit/ Asset/ Liability
– Investment management/ trading – Product management – Administration (IT, IO, HR, Procurement) – Portfolio operations – Legal and compliance – Finance and internal audit – Strategy
6 I ncludes AUM
eer group rankings are sourced from a widely-used third party ranking agency in each fund’s market (Lipper, M
ussell, M ercer, eVestment Alliance, S I TC A) and asset- weighted in US
ankings are as of prior quarter-end for most institutional products and prior month-end for Australian retail funds due to their late release by third
ankings for the most representative fund in each G I P S composite are applied to all products within each G I P S
xcludes passive products, closed-end funds, private equity limited partnerships, non-discretionary direct real estate, unit investment trusts and C
ertain funds and products were excluded from the analysis because of limited benchmark or peer group data. Had these been available, results may have been different. These results are preliminary and subject to revision. P erformance assumes the reinvestment of dividends. P ast performance is not indicative of future results and may not reflect an investor’s experience. *
Source: Invesco. Invesco Ltd. AUM is as of September 30, 2011; refer to slide 2 for additional information on AUM. Not all products, materials or services are available to all investors. Offshore products are only available via financial intermediaries and include residency restrictions.
AUM: $ 2 5 3 .2 B AUM: $ 2 2 0 .3 B AUM: $ 8 3 .5 B
AUM: $ 4 1 .5 B 7
AUM: $ 2 5 3 .2 B AUM: $ 2 2 0 .3 B AUM: $ 8 3 .5 B
AUM: $ 4 1 .5 B
8 Source: Invesco. Invesco Ltd. AUM is as of September 30, 2011; refer to slide 2 for additional information on AUM. Not all products, materials or services are available to all investors. Offshore products are only available via financial intermediaries and include residency restrictions.
AUM: $ 2 5 3 .2 B AUM: $ 2 2 0 .3 B AUM: $ 8 3 .5 B
AUM: $ 4 1 .5 B
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Source: Invesco. Invesco Ltd. AUM is as of September 30, 2011; refer to slide 2 for additional information on AUM. Not all products, materials or services are available to all investors. Offshore products are only available via financial intermediaries and include residency restrictions.
Morningstar Rating. For example, funds with a track record of less than 3 years do not have a Morningstar Rating.
Data is subject to change
* Data as of September 30, 2011
* Data as of September 30, 2011
* Data as of September 30, 2011
56% 5% 21% 6% 8% 4%
49% 16% 26% 6% 3%
84% 1% 7% 2% 2% 5%
66% 3% 11% 19% 1%
AUM data as of September 30, 2011 and is subject to change. Refer to slide 2 for additional information on AUM
81% 2% 10% 4% 4%
* Net income for Invesco and peer group is adjusted (or as reported) net income divided by average assets under management for the period. Adjusted net income is a non-GAAP financial measure. A reconciliation of Invesco’s adjusted net income for the periods presented can be found in the appendix of this presentation. Peer group includes Franklin Resources (BEN), BlackRock Inc. (BLK), Legg Mason (LM), T. Rowe Price (TROW), Janus Capital Group (JNS), Federated Investors (FII), Waddell and Reed (WDR), Calamos (CLMS), Alliance Bernstein (AB), Eaton Vance (EV), Affiliated Managers Group (AMG), and Schroder's (SDR-LN) Global peer group includes Franklin Resources (BEN), BlackRock Inc.(BLK), Legg Mason (LM), Alliance Bernstein (AB) and Schroder’s (SDR-LN) 2006 2007 2008 2009 2010 9 months ended 9/ 30/ 11 Invesco 11.6 bps 14.0 bps 11.2 bps 9.1 bps 12.0 bps 12.3 bps Peer Group Median 10.9 bps 10.1 bps 9.9 bps 9.1 bps 10.3 bps 10.4 bps Global Peer Group Median 14.4 bps 15.1 bps 8.8 bps 8.2 bps 10.7 bps 11.3 bps (bps)
( $ m illions) 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 Nine-m onths ended 9 / 3 0 / 2 0 1 1 Net incom e attributable to com m on shareholders, US GAAP basis 4 8 2 .7 6 7 3 .6 4 8 1 .7 3 2 2 .5 4 6 5 .7 5 2 7 .4 Transaction and integration charges, net of tax
1 0 3 .1 1 4 .8 Am ortization of acquisition-related prepaid com pensation
2 0 .0 2 0 .0 2 0 .0 1 5 .0 Change in contingent consideration estim ates, net of tax
( 1 0 .8 ) Am ortization of other intangibles, net of tax 9 .8 1 1 .7 1 3 .0 1 2 .3 2 7 .4 3 2 .7 Deferred com pensation plan m arket valuation changes and dividend incom e less com pensation expense, net of tax
5 .7 Deferred incom e taxes on intangible assets 7 .2 7 .9 1 2 .4 1 4 .4 2 1 .1 2 0 .7 Consolidation of investm ent products
( 1 8 .3 ) European infrastructure, net of tax
Other reconciling item s
( 6 .1 ) Adjusted net incom e 4 9 9 .7 7 1 8 .2 5 2 7 .1 3 7 8 .1 6 3 9 .7 5 9 1 .1 Average shares outstanding, diluted Diluted EPS Adjusted EPS* * * 4 0 6 .1 $ 1 .1 9 $ 1 .2 3 4 1 1 .9 $ 1 .6 4 $ 1 .7 4 3 9 9 .1 $ 1 .2 1 $ 1 .3 2 4 2 3 .6 $ 0 .7 6 $ 0 .8 9 4 6 3 .2 $ 1 .0 1 $ 1 .3 8 4 6 6 .8 $ 1 .1 3 $ 1 .2 7 Average AUM ( billions) $ 4 3 0 .7 $ 5 1 1 .7 $ 4 6 8 .9 $ 4 1 5 .8 $ 5 3 2 .3 $ 6 3 8 .5
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