Invesco Ltd. (IVZ) CEO Marty Flanagan on Q2 2022 Results - Earnings Call Transcript

Invesco Ltd. (NYSE:IVZ) Q2 2022 Earnings Conference Call July 27, 2022 9:00 AM ET

Company Participants

Greg Ketron - Head of Investor Relations

Marty Flanagan - President and Chief Executive Officer

Allison Dukes - Chief Financial Officer

Conference Call Participants

Ken Worthington - JPMorgan

Brennan Hawken - UBS

Mike Cyprus - Morgan Stanley

Brian Bedell - Deutsche Bank

Glenn Schorr - Evercore

Dan Fannon - Jefferies

Patrick Davitt - Autonomous Research

Ryan Bailey - Goldman Sachs

Operator

Welcome to Invesco's Second Quarter Earnings Conference Call [Operator Instructions]. As a reminder, today's call is being recorded.

Now I'd like to turn today's meeting over to your host, Mr. Greg Ketron, Invesco's Head of Investor Relations. Sir, you may begin.

Greg Ketron

Thanks, operator, and to all of you joining us on Invesco's quarterly earnings call. In addition to our press release, we have provided a presentation that covers the topics we plan to address today. The press release and presentation are available on our Web site at invesco.com. This information can be found by going to the Investor Relations section of the Web site. Our presentation today will include forward-looking statements and certain non-GAAP financial measures. Please review the disclosures on Slide 2 of the presentation regarding these statements and measures as well as the appendix for the appropriate reconciliations to GAAP. Finally, Invesco is not responsible for and does not edit or guarantee the accuracy of our earnings teleconference transcripts provided by third parties. The only authorized webcasts are located on our Web site. Marty Flanagan, President and Chief Executive Officer; and Allison Dukes, Chief Financial Officer, will present our results this morning. After we complete the presentation, we will open up the call for questions.

Now I'll turn the call over to Marty.

Marty Flanagan

Thank you, Greg. And I'll start on Slide 3, which is the highlights of the quarter. So let me start on that page, if you will. So the market environment we have experienced for the first half of this year has been one of the most challenging in decades, global equity and debt markets delivered the worst first half returns we've seen in decades as investors reacted to uncertainty associated with rising fears, recession fears, higher inflation, interest rate hikes and geopolitical tensions. Against this backdrop for the industry and despite seeing the first net long term outflows quarter in two years, our diversified product line has maintained net inflows in key capability areas, notably ETFs, active fixed income, Greater China, where we maintain leadership positions. Our global ETF platform generated inflows of $4.8 billion in the quarter, the equivalent of a 7% annualized organic growth rate. Our ETF product suite remains differentiated from competitors with a strong presence in higher revenue, higher growth segments such as smart beta, and we continue to gain market share during the quarter.