Invesco Ltd · NYSE:IVZ
Invesco — Citi Global Financials Conference 2013
23 slides from Invesco's conference presentation, Nov 20, 2013
Slide 1: Helping investors worldwide achieve their financial objectives
Invesco Ltd. Helping investors worldwide achieve their financial objectives November 20, 2013 Loren Starr, Chief Financial Officer This presentation is solely for the Citi Global Financials Conference only. This is for information purposes only and is not an invitation to subscribe for shares in a f
Slide 2: Forward-looking statements
Forward-looking statements This presentation, and comments made in the associated webcast today, may include “forward-looking statements.” Forward-looking statements include information concerning future results of our operations, expenses, earnings, liquidity, cash flow and capital expenditures, in
Slide 3: We are a leading independent global investment manager
We are a leading independent global investment manager Our global resources include: $745.5 billion in assets under management around the globe. Specialized investment teams managing investments across a wide range of asset classes and investment styles. More than 700 investment professionals
Slide 4: Our strategic objectives remain consistent
Our strategic objectives remain consistent Achieve strong investment performance Be instrumental to our clients’ success Harness the power of our global platform Perpetuate a high-performance organization Helping investors worldwide achieve their financial objectives 4 For the Citi Global Financials
Slide 5: What we believe in
What we believe in Helping investors worldwide achieve their financial objectives Our “investors first” approach is built on: Commitment to investment excellence High-quality results begin with specialized insight and disciplined oversight. Depth of investment capabilities Our wide range of investme
Slide 6: Our mission, principles and differentiators
Our mission, principles and differentiators Mission Helping investors worldwide achieve their financial objectives Corporate Principles We are passionate about our clients’ success. Working together, we achieve more. People are the foundation of our success. We earn trust by acting with inte
Slide 7: Commitment to investment excellence
Commitment to investment excellence High-quality results begin with specialized insight and disciplined oversight We believe the best investment insights come from specialized investment teams with discrete investment perspectives, operating under a disciplined philosophy and process with strong ris
Slide 8: An effective foundation for a sound risk culture
Commitment to investment excellence An effective foundation for a sound risk culture Risk Board of Directors and Independent Fund Boards Oversight and Governance Executive Management Team Risk Risk Areas of Focus Investment Financial Business Management Credit/Asset/ Liability Operational
Slide 9: Specialized investment teams with local knowledge of key markets
We have specialized investment teams with local knowledge of key markets across the globe A truly global firm with: $745.5 billion assets under management More than 700 investment professionals On-the-ground presence in more than 20 countries, including: Australia Italy Austria Japan Belgium L
Slide 10: Depth of investment capabilities
Depth of investment capabilities Our wide range of investment capabilities is designed to support a variety of financial objectives We offer a wide range of single-country, regional and global capabilities across major equity, fixed income and alternative asset classes, delivered through a diverse s
Slide 11: Organizational strength
Organizational strength As an independent firm, our global organization is solely focused on investment management We direct all of our intellectual capital, global strength and operational stability toward helping investors achieve their long-term financial objectives. Independent firm Focused so
Slide 12: Diversity across geographies, channels and asset classes
Organizational strength A key strength of the firm is our diversity across geographies, channels and asset classes By client domicile By channel By asset class 4% 12% 68% 23% 15% 66% 34% 47% 7% 11% 7% 7% 1-Yr 1-Yr 1-Yr ($ billions) Change ($ billions) Change ($ billions) Change U.S. $502.5 10.6% Ret
Slide 13: Investment performance – overview
This image cannot currently be display ed. Investment performance – overview Aggregate performance analysis – asset weighted Percent of actively managed assets in top half of peer group* 1-Year 3-Year 5-Year 72% 82% 82% 18% 18% 28% Assets top half of peer group Assets bottom half of peer group *Excl
Slide 14: Quarterly long-term flows
Quarterly long-term flows Continued strong gross sales across our global business Quarterly long-term flows ($ billions) Total AUM Active AUM Passive AUM 13.5 34.1 32.6 33.1 47.6 11.8 44.4 41.8 25.5 27.7 8.7 23.8 25.2 9.3 8.8 34.1 34.0 34.4 20.5 8.6 29.8 29.4 6.4 6.7 5.6 5.2 7.9 3.7 14.3 4.8 2.9 8.5
Slide 15: Quarterly long-term flows
Quarterly long-term flows Continued strong gross sales in the retail channel Quarterly long-term flows ($ billions) Retail(a) Institutional(b) 36.2 37.7 35.5 26.9 11.4 26.0 26.9 24.3 9.6 20.2 8.0 7.5 7.2 6.7 6.3 5.1 4.0 10.3 6.5 3.8 5.7 4.9 2.8 2.9 2.1 0.6 -0.3 -1.6 -0.7 -1.5 -2.7 -3.5 -5.8 -5.2 -20
Slide 16: Increasing AUM and consistent organic growth driving operating results
Increasing AUM and consistent organic growth has driven continued improvement in operating results Ending AUM Long-Term Organic Growth (annualized)* $ Billions Percent 4.9 746 667 607 2.9 2.0 2011 2012 3Q-13 2011 2012 YTD-13 Adjusted operating margin Adjusted EPS Percent US Dollars 39.5 0.55 37.5 35
Slide 17: Capital priorities: organic growth and returning capital to shareholders
Invesco’s capital priorities are focused on organic growth and returning capital to shareholders Our capital priorities have evolved with the growth and success of our business • Reinvestment in the business • Steady annual growth of dividends • Share repurchase • ~$1 billion cash buffer in excess o
Slide 18: Thank you
Thank you This presentation is solely for the Citi global financials conference only. Circulation, disclosure, or dissemination of all or any part of this material to any unauthorized persons is prohibited. This presentation contains general information only and does not take into account individual
Slide 19: Appendix
Appendix For the Citi Global Financials Conference only – not for further distribution
Slide 20: Reconciliation of US GAAP to non-GAAP – three months ended Sept 30, 2013
Reconciliation of US GAAP results to non-GAAP results – three months ended September 30, 2013 * Other: Please refer to pages 19-21 in the 3Q 2013 earnings press release for a description of the adjustments ($ millions) US GAAP Proportional 3rd party Acquisition Market appreciation Consolidated Other
Slide 21: Reconciliation of US GAAP to non-GAAP – three months ended Sept 30, 2012
Reconciliation of US GAAP results to non-GAAP results – three months ended September 30, 2012 * Other: Please refer to pages 19-21 in the 3Q 2012 earnings press release for a description of the adjustments ($ millions) US GAAP Proportional 3rd party Acquisition Market appreciation Consolidated Other
Slide 22: Reconciliation of US GAAP to non-GAAP – three months ended Sept 30, 2011
Reconciliation of US GAAP results to non-GAAP results – three months ended September 30, 2011 * Other: Please refer to pages 9-10 in the 3Q 2011 earnings press release for a description of the adjustments ($ millions) US GAAP Proportional 3rd party Acquisition Market appreciation Consolidated Other*
Slide 23: Reconciliation of US GAAP results to non-GAAP results
Reconciliation of US GAAP results to non-GAAP results Adjusted operating margin $ in millions, except per share data 9m ended Sep 30, 2013 2012 2011 Operating revenues, U.S. GAAP basis 3,419.5 4,050.4 3,982.3 Third‐party distribution, service and advisory expenses (1,093.0) (1,308.2) (1,279.4) Third