AllAnalyst Report
logoMorningstarSeptember 17, 2021

Invesco Ltd.: A Merger Between Invesco and SSgA Would Create a Behemoth With More Than $5 Trillion in AUM

Symbols
IVZ
Sector(s)
Financial Services
Rating
Current Price
$14.51
Fair Value
Economic Moat
Stewardship
Summary

Invesco provides investment management services to retail (70% of managed assets) and institutional (30%) clients. At the end of June 2021, the firm had $1.525 trillion in assets under management spread out among its equity (52% of AUM), balanced (6%), fixed-income (21%), alternative investment (12%), and money market (9%) operations. Passive products account for 30% of Invesco's total AUM, including 48% of the company's equity operations and 14% of its fixed-income platform. Invesco's U.S. retail business is one of the 10 largest nonproprietary fund complexes in

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Analyst Profile

Greggory Warren

Sector Strategist
Greggory Warren, CFA, is a financial-services sector strategist for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers the traditional U.S.- based asset managers, as well as Berkshire Hathaway.Before assuming his current role in 2017, Warren covered the financial-services sector as a senior analyst since late 2008. Before that time, he covered non-alcoholic beverage manufacturers and distributors, packaged food firms, food service distributors, and tobacco companies. Prior to joining Morningstar in 2005, Warren worked as a buy-side equity analyst for more than seven years, covering consumer staples and consumer cyclicals.Warren holds a bachelor's degree in accounting and English from Augustana College. He also holds the Chartered Financial Analyst® designation and is a member of the CFA Society of Chicago. Since 2014, Warren has been selected to participate on the analyst panel at Berkshire Hathaway's annual meeting, asking questions directly of Warren Buffett and Charlie Munger. He ranked second in the investment services industry in The Wall Street Journal's annual “Best on the Street” analysts survey in 2013, the last year the survey was conducted.