☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Bermuda | 98-0557567 | ||||||||||||||||
(State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification No.) | ||||||||||||||||
1555 Peachtree Street, N.E., | Suite 1800, | Atlanta, | GA | 30309 | |||||||||||||
(Address of Principal Executive Offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Common stock, $.20 par value | IVZ | New York Stock Exchange |
Large accelerated filer | ☑ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||||||||||||||||||||||||
Emerging growth company | ☐ |
Page | |||||
TABLE OF CONTENTS | |||||
As of | As of | |||||||||||||||||||||
$ in millions, except per share data | $ in millions, except per share data | June 30, 2022 | December 31, 2021 | $ in millions, except per share data | September 30, 2022 | December 31, 2021 | ||||||||||||||||
ASSETS | ASSETS | ASSETS | ||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | 936.8 | 1,896.4 | Cash and cash equivalents | 1,023.6 | 1,896.4 | ||||||||||||||||
Accounts receivable | Accounts receivable | 747.4 | 785.0 | Accounts receivable | 701.2 | 785.0 | ||||||||||||||||
Investments | Investments | 884.6 | 926.3 | Investments | 906.7 | 926.3 | ||||||||||||||||
Assets of consolidated investment products (CIP): | Assets of consolidated investment products (CIP): | Assets of consolidated investment products (CIP): | ||||||||||||||||||||
Cash and cash equivalents of CIP | Cash and cash equivalents of CIP | 196.0 | 250.7 | Cash and cash equivalents of CIP | 202.4 | 250.7 | ||||||||||||||||
Accounts receivable and other assets of CIP | Accounts receivable and other assets of CIP | 287.9 | 532.6 | Accounts receivable and other assets of CIP | 178.6 | 532.6 | ||||||||||||||||
Investments of CIP | Investments of CIP | 8,720.0 | 9,042.5 | Investments of CIP | 8,497.1 | 9,042.5 | ||||||||||||||||
Assets held for policyholders | Assets held for policyholders | 1,067.7 | 1,893.6 | Assets held for policyholders | 754.3 | 1,893.6 | ||||||||||||||||
Other assets | Other assets | 1,034.3 | 729.9 | Other assets | 952.2 | 729.9 | ||||||||||||||||
Property, equipment and software, net | Property, equipment and software, net | 491.4 | 518.1 | Property, equipment and software, net | 504.0 | 518.1 | ||||||||||||||||
Intangible assets, net | Intangible assets, net | 7,174.4 | 7,228.0 | Intangible assets, net | 7,145.5 | 7,228.0 | ||||||||||||||||
Goodwill | Goodwill | 8,646.2 | 8,882.5 | Goodwill | 8,406.3 | 8,882.5 | ||||||||||||||||
Total assets | Total assets | 30,186.7 | 32,685.6 | Total assets | 29,271.9 | 32,685.6 | ||||||||||||||||
LIABILITIES | LIABILITIES | LIABILITIES | ||||||||||||||||||||
Accrued compensation and benefits | Accrued compensation and benefits | 558.0 | 1,062.3 | Accrued compensation and benefits | 680.4 | 1,062.3 | ||||||||||||||||
Accounts payable and accrued expenses | Accounts payable and accrued expenses | 1,352.9 | 1,157.1 | Accounts payable and accrued expenses | 1,332.4 | 1,157.1 | ||||||||||||||||
Liabilities of CIP: | Liabilities of CIP: | Liabilities of CIP: | ||||||||||||||||||||
Debt of CIP | Debt of CIP | 6,731.1 | 7,336.1 | Debt of CIP | 6,548.7 | 7,336.1 | ||||||||||||||||
Other liabilities of CIP | Other liabilities of CIP | 443.0 | 846.3 | Other liabilities of CIP | 286.7 | 846.3 | ||||||||||||||||
Policyholder payables | Policyholder payables | 1,067.7 | 1,893.6 | Policyholder payables | 754.3 | 1,893.6 | ||||||||||||||||
Debt | Debt | 1,671.2 | 2,085.1 | Debt | 1,487.1 | 2,085.1 | ||||||||||||||||
Deferred tax liabilities, net | Deferred tax liabilities, net | 1,675.2 | 1,626.3 | Deferred tax liabilities, net | 1,678.8 | 1,626.3 | ||||||||||||||||
Total liabilities | Total liabilities | 13,499.1 | 16,006.8 | Total liabilities | 12,768.4 | 16,006.8 | ||||||||||||||||
Commitments and contingencies (See Note 12) | Commitments and contingencies (See Note 12) | 0 | 0 | Commitments and contingencies (See Note 12) | ||||||||||||||||||
TEMPORARY EQUITY | TEMPORARY EQUITY | TEMPORARY EQUITY | ||||||||||||||||||||
Redeemable noncontrolling interests in consolidated entities | Redeemable noncontrolling interests in consolidated entities | 892.8 | 510.8 | Redeemable noncontrolling interests in consolidated entities | 990.4 | 510.8 | ||||||||||||||||
PERMANENT EQUITY | PERMANENT EQUITY | PERMANENT EQUITY | ||||||||||||||||||||
Equity attributable to Invesco Ltd.: | Equity attributable to Invesco Ltd.: | Equity attributable to Invesco Ltd.: | ||||||||||||||||||||
Preferred shares ($0.20 par value; $1,000 liquidation preference; 4.0 million authorized, issued and outstanding as of June 30, 2022 and December 31, 2021) | 4,010.5 | 4,010.5 | ||||||||||||||||||||
Common shares ($0.20 par value; 1,050.0 million authorized; 566.1 million shares issued as of June 30, 2022 and December 31, 2021) | 113.2 | 113.2 | ||||||||||||||||||||
Preferred shares ($0.20 par value; $1,000 liquidation preference; 4.0 million authorized, issued and outstanding as of September 30, 2022 and December 31, 2021) | Preferred shares ($0.20 par value; $1,000 liquidation preference; 4.0 million authorized, issued and outstanding as of September 30, 2022 and December 31, 2021) | 4,010.5 | 4,010.5 | |||||||||||||||||||
Common shares ($0.20 par value; 1,050.0 million authorized; 566.1 million shares issued as of September 30, 2022 and December 31, 2021) | Common shares ($0.20 par value; 1,050.0 million authorized; 566.1 million shares issued as of September 30, 2022 and December 31, 2021) | 113.2 | 113.2 | |||||||||||||||||||
Additional paid-in-capital | Additional paid-in-capital | 7,563.2 | 7,688.0 | Additional paid-in-capital | 7,547.0 | 7,688.0 | ||||||||||||||||
Treasury shares | Treasury shares | (3,095.3) | (3,043.6) | Treasury shares | (3,052.2) | (3,043.6) | ||||||||||||||||
Retained earnings | Retained earnings | 7,323.2 | 7,169.2 | Retained earnings | 7,416.2 | 7,169.2 | ||||||||||||||||
Accumulated other comprehensive income/(loss), net of tax | Accumulated other comprehensive income/(loss), net of tax | (801.1) | (441.5) | Accumulated other comprehensive income/(loss), net of tax | (1,131.0) | (441.5) | ||||||||||||||||
Total equity attributable to Invesco Ltd. | Total equity attributable to Invesco Ltd. | 15,113.7 | 15,495.8 | Total equity attributable to Invesco Ltd. | 14,903.7 | 15,495.8 | ||||||||||||||||
Equity attributable to nonredeemable noncontrolling interests in consolidated entities | Equity attributable to nonredeemable noncontrolling interests in consolidated entities | 681.1 | 672.2 | Equity attributable to nonredeemable noncontrolling interests in consolidated entities | 609.4 | 672.2 | ||||||||||||||||
Total permanent equity | Total permanent equity | 15,794.8 | 16,168.0 | Total permanent equity | 15,513.1 | 16,168.0 | ||||||||||||||||
Total liabilities, temporary and permanent equity | Total liabilities, temporary and permanent equity | 30,186.7 | 32,685.6 | Total liabilities, temporary and permanent equity | 29,271.9 | 32,685.6 |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
$ in millions, except per common share data | $ in millions, except per common share data | 2022 | 2021 | 2022 | 2021 | $ in millions, except per common share data | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||
Operating revenues: | Operating revenues: | Operating revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Investment management fees | Investment management fees | 1,113.5 | 1,247.4 | 2,294.0 | 2,454.0 | Investment management fees | 1,057.3 | 1,275.5 | 3,351.3 | 3,729.5 | ||||||||||||||||||||||||||||||||||||
Service and distribution fees | Service and distribution fees | 353.8 | 401.0 | 732.8 | 782.1 | Service and distribution fees | 340.2 | 409.1 | 1,073.0 | 1,191.2 | ||||||||||||||||||||||||||||||||||||
Performance fees | Performance fees | 9.2 | 10.5 | 10.2 | 17.2 | Performance fees | 3.0 | 4.8 | 13.2 | 22.0 | ||||||||||||||||||||||||||||||||||||
Other | Other | 53.9 | 62.5 | 122.8 | 127.8 | Other | 45.2 | 60.6 | 168.0 | 188.4 | ||||||||||||||||||||||||||||||||||||
Total operating revenues | Total operating revenues | 1,530.4 | 1,721.4 | 3,159.8 | 3,381.1 | Total operating revenues | 1,445.7 | 1,750.0 | 4,605.5 | 5,131.1 | ||||||||||||||||||||||||||||||||||||
Operating expenses: | Operating expenses: | Operating expenses: | ||||||||||||||||||||||||||||||||||||||||||||
Third-party distribution, service and advisory | Third-party distribution, service and advisory | 475.0 | 539.6 | 987.6 | 1,062.4 | Third-party distribution, service and advisory | 451.3 | 546.4 | 1,438.9 | 1,608.8 | ||||||||||||||||||||||||||||||||||||
Employee compensation | Employee compensation | 407.2 | 487.0 | 840.1 | 976.2 | Employee compensation | 420.8 | 476.7 | 1,260.9 | 1,452.9 | ||||||||||||||||||||||||||||||||||||
Marketing | Marketing | 33.8 | 24.5 | 55.5 | 40.3 | Marketing | 27.6 | 20.3 | 83.1 | 60.6 | ||||||||||||||||||||||||||||||||||||
Property, office and technology | Property, office and technology | 135.0 | 127.2 | 267.0 | 256.5 | Property, office and technology | 133.2 | 134.2 | 400.2 | 390.7 | ||||||||||||||||||||||||||||||||||||
General and administrative | General and administrative | 119.7 | 103.3 | 221.9 | 199.9 | General and administrative | 48.7 | 105.0 | 270.6 | 304.9 | ||||||||||||||||||||||||||||||||||||
Transaction, integration and restructuring | Transaction, integration and restructuring | 0.2 | (47.1) | 35.4 | (1.3) | Transaction, integration and restructuring | (0.6) | (12.0) | 34.8 | (13.3) | ||||||||||||||||||||||||||||||||||||
Amortization of intangibles | Amortization of intangibles | 14.8 | 16.0 | 29.9 | 31.9 | Amortization of intangibles | 14.5 | 15.6 | 44.4 | 47.5 | ||||||||||||||||||||||||||||||||||||
Total operating expenses | Total operating expenses | 1,185.7 | 1,250.5 | 2,437.4 | 2,565.9 | Total operating expenses | 1,095.5 | 1,286.2 | 3,532.9 | 3,852.1 | ||||||||||||||||||||||||||||||||||||
Operating income | Operating income | 344.7 | 470.9 | 722.4 | 815.2 | Operating income | 350.2 | 463.8 | 1,072.6 | 1,279.0 | ||||||||||||||||||||||||||||||||||||
Other income/(expense): | Other income/(expense): | Other income/(expense): | ||||||||||||||||||||||||||||||||||||||||||||
Equity in earnings of unconsolidated affiliates | Equity in earnings of unconsolidated affiliates | 24.7 | 37.2 | 58.1 | 64.7 | Equity in earnings of unconsolidated affiliates | 20.2 | 54.6 | 78.3 | 119.3 | ||||||||||||||||||||||||||||||||||||
Interest and dividend income | Interest and dividend income | 2.1 | 0.4 | 3.3 | 1.7 | Interest and dividend income | 3.3 | 1.9 | 6.6 | 3.6 | ||||||||||||||||||||||||||||||||||||
Interest expense | Interest expense | (25.8) | (24.6) | (49.0) | (48.4) | Interest expense | (18.6) | (23.1) | (67.6) | (71.5) | ||||||||||||||||||||||||||||||||||||
Other gains/(losses), net | Other gains/(losses), net | (90.0) | 43.4 | (135.5) | 77.5 | Other gains/(losses), net | (34.6) | (12.1) | (170.1) | 65.4 | ||||||||||||||||||||||||||||||||||||
Other income/(expense) of CIP, net | Other income/(expense) of CIP, net | 26.2 | 122.0 | 2.9 | 216.7 | Other income/(expense) of CIP, net | (65.4) | 200.2 | (62.5) | 416.9 | ||||||||||||||||||||||||||||||||||||
Income before income taxes | Income before income taxes | 281.9 | 649.3 | 602.2 | 1,127.4 | Income before income taxes | 255.1 | 685.3 | 857.3 | 1,812.7 | ||||||||||||||||||||||||||||||||||||
Income tax provision | Income tax provision | (63.0) | (154.2) | (145.8) | (260.7) | Income tax provision | (86.8) | (139.7) | (232.6) | (400.4) | ||||||||||||||||||||||||||||||||||||
Net income | Net income | 218.9 | 495.1 | 456.4 | 866.7 | Net income | 168.3 | 545.6 | 624.7 | 1,412.3 | ||||||||||||||||||||||||||||||||||||
Net (income)/loss attributable to noncontrolling interests in consolidated entities | Net (income)/loss attributable to noncontrolling interests in consolidated entities | (38.7) | (67.6) | (19.3) | (112.2) | Net (income)/loss attributable to noncontrolling interests in consolidated entities | 68.3 | (156.3) | 49.0 | (268.5) | ||||||||||||||||||||||||||||||||||||
Dividends declared on preferred shares | Dividends declared on preferred shares | (59.2) | (59.2) | (118.4) | (118.4) | Dividends declared on preferred shares | (59.2) | (59.2) | (177.6) | (177.6) | ||||||||||||||||||||||||||||||||||||
Net income attributable to Invesco Ltd. | Net income attributable to Invesco Ltd. | 121.0 | 368.3 | 318.7 | 636.1 | Net income attributable to Invesco Ltd. | 177.4 | 330.1 | 496.1 | 966.2 | ||||||||||||||||||||||||||||||||||||
Earnings per common share: | Earnings per common share: | Earnings per common share: | ||||||||||||||||||||||||||||||||||||||||||||
-basic | -basic | $0.27 | $0.80 | $0.70 | $1.38 | -basic | $0.39 | $0.71 | $1.08 | $2.09 | ||||||||||||||||||||||||||||||||||||
-diluted | -diluted | $0.26 | $0.79 | $0.69 | $1.37 | -diluted | $0.39 | $0.71 | $1.08 | $2.08 |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | 2022 | 2021 | 2022 | 2021 | $ in millions | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||
Net income | Net income | 218.9 | 495.1 | 456.4 | 866.7 | Net income | 168.3 | 545.6 | 624.7 | 1,412.3 | ||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax: | Other comprehensive income/(loss), net of tax: | Other comprehensive income/(loss), net of tax: | ||||||||||||||||||||||||||||||||||||||||||||
Currency translation differences on investments in foreign subsidiaries | Currency translation differences on investments in foreign subsidiaries | (292.9) | 34.9 | (360.1) | 35.7 | Currency translation differences on investments in foreign subsidiaries | (330.1) | (108.7) | (690.2) | (73.0) | ||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax | Other comprehensive income/(loss), net of tax | 0.3 | 3.0 | 0.5 | (1.0) | Other comprehensive income/(loss), net of tax | 0.2 | 1.2 | 0.7 | 0.2 | ||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss) | Other comprehensive income/(loss) | (292.6) | 37.9 | (359.6) | 34.7 | Other comprehensive income/(loss) | (329.9) | (107.5) | (689.5) | (72.8) | ||||||||||||||||||||||||||||||||||||
Total comprehensive income/(loss) | Total comprehensive income/(loss) | (73.7) | 533.0 | 96.8 | 901.4 | Total comprehensive income/(loss) | (161.6) | 438.1 | (64.8) | 1,339.5 | ||||||||||||||||||||||||||||||||||||
Comprehensive loss/(income) attributable to noncontrolling interests in consolidated entities | Comprehensive loss/(income) attributable to noncontrolling interests in consolidated entities | (38.7) | (67.6) | (19.3) | (112.2) | Comprehensive loss/(income) attributable to noncontrolling interests in consolidated entities | 68.3 | (156.3) | 49.0 | (268.5) | ||||||||||||||||||||||||||||||||||||
Dividends declared on preferred shares | Dividends declared on preferred shares | (59.2) | (59.2) | (118.4) | (118.4) | Dividends declared on preferred shares | (59.2) | (59.2) | (177.6) | (177.6) | ||||||||||||||||||||||||||||||||||||
Comprehensive income/(loss) attributable to Invesco Ltd. | Comprehensive income/(loss) attributable to Invesco Ltd. | (171.6) | 406.2 | (40.9) | 670.8 | Comprehensive income/(loss) attributable to Invesco Ltd. | (152.5) | 222.6 | (193.4) | 893.4 |
Six months ended June 30, | Nine months ended September 30, | |||||||||||||||||||||
$ in millions | $ in millions | 2022 | 2021 | $ in millions | 2022 | 2021 | ||||||||||||||||
Operating activities: | Operating activities: | Operating activities: | ||||||||||||||||||||
Net income | Net income | 456.4 | 866.7 | Net income | 624.7 | 1,412.3 | ||||||||||||||||
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||||||||||||||||||||
Amortization and depreciation | Amortization and depreciation | 98.8 | 103.9 | Amortization and depreciation | 146.7 | 154.9 | ||||||||||||||||
Common share-based compensation expense | Common share-based compensation expense | 57.1 | 72.8 | Common share-based compensation expense | 83.1 | 106.0 | ||||||||||||||||
Other (gains)/losses, net | Other (gains)/losses, net | 135.5 | (77.5) | Other (gains)/losses, net | 170.1 | (65.4) | ||||||||||||||||
Other (gains)/losses of CIP, net | Other (gains)/losses of CIP, net | 66.7 | (160.8) | Other (gains)/losses of CIP, net | 173.2 | (323.3) | ||||||||||||||||
Equity in earnings of unconsolidated affiliates | Equity in earnings of unconsolidated affiliates | (58.1) | (64.7) | Equity in earnings of unconsolidated affiliates | (78.3) | (119.3) | ||||||||||||||||
Distributions from equity method investees | Distributions from equity method investees | 70.3 | 43.0 | Distributions from equity method investees | 64.3 | 43.9 | ||||||||||||||||
Changes in operating assets and liabilities: | Changes in operating assets and liabilities: | Changes in operating assets and liabilities: | ||||||||||||||||||||
(Purchase)/sale of investments by CIP, net | (Purchase)/sale of investments by CIP, net | (299.7) | (135.4) | (Purchase)/sale of investments by CIP, net | (397.2) | (176.2) | ||||||||||||||||
(Purchase)/sale of investments, net | (Purchase)/sale of investments, net | (25.2) | (20.5) | (Purchase)/sale of investments, net | (20.5) | 99.6 | ||||||||||||||||
(Increase)/decrease in receivables | (Increase)/decrease in receivables | 509.3 | 4,090.1 | (Increase)/decrease in receivables | 721.9 | 5,251.3 | ||||||||||||||||
Increase/(decrease) in payables | Increase/(decrease) in payables | (1,263.4) | (4,236.8) | Increase/(decrease) in payables | (1,248.3) | (5,302.0) | ||||||||||||||||
Net cash provided by/(used in) operating activities | Net cash provided by/(used in) operating activities | (252.3) | 480.8 | Net cash provided by/(used in) operating activities | 239.7 | 1,081.8 | ||||||||||||||||
Investing activities: | Investing activities: | Investing activities: | ||||||||||||||||||||
Purchase of property, equipment and software | Purchase of property, equipment and software | (57.1) | (47.2) | Purchase of property, equipment and software | (119.8) | (73.2) | ||||||||||||||||
Purchase of investments by CIP | Purchase of investments by CIP | (1,709.2) | (3,224.5) | Purchase of investments by CIP | (2,335.7) | (4,795.5) | ||||||||||||||||
Sale of investments by CIP | Sale of investments by CIP | 1,653.9 | 3,076.1 | Sale of investments by CIP | 2,274.5 | 4,321.6 | ||||||||||||||||
Purchase of investments | Purchase of investments | (119.9) | (100.6) | Purchase of investments | (173.5) | (149.6) | ||||||||||||||||
Sale of investments | Sale of investments | 54.9 | 76.8 | Sale of investments | 73.4 | 103.8 | ||||||||||||||||
Capital distributions from equity method investees | Capital distributions from equity method investees | 16.9 | 4.4 | Capital distributions from equity method investees | 38.7 | 13.5 | ||||||||||||||||
Net cash inflows/(outflows) upon consolidation/deconsolidation of CIP | Net cash inflows/(outflows) upon consolidation/deconsolidation of CIP | 4.7 | (8.7) | Net cash inflows/(outflows) upon consolidation/deconsolidation of CIP | 4.4 | (8.7) | ||||||||||||||||
Net cash provided by/(used in) investing activities | Net cash provided by/(used in) investing activities | (155.8) | (223.7) | Net cash provided by/(used in) investing activities | (238.0) | (588.1) | ||||||||||||||||
Financing activities: | Financing activities: | Financing activities: | ||||||||||||||||||||
Purchases of treasury shares | Purchases of treasury shares | (234.4) | (47.6) | Purchases of treasury shares | (240.1) | (58.1) | ||||||||||||||||
Dividends paid - preferred | Dividends paid - preferred | (118.4) | (118.4) | Dividends paid - preferred | (177.6) | (177.6) | ||||||||||||||||
Dividends paid - common | Dividends paid - common | (163.4) | (150.1) | Dividends paid - common | (249.1) | (228.9) | ||||||||||||||||
Third-party capital invested into CIP | Third-party capital invested into CIP | 446.8 | 247.3 | Third-party capital invested into CIP | 608.8 | 475.1 | ||||||||||||||||
Third-party capital distributed by CIP | Third-party capital distributed by CIP | (130.3) | (117.1) | Third-party capital distributed by CIP | (191.2) | (351.5) | ||||||||||||||||
Borrowings of debt by CIP | Borrowings of debt by CIP | 84.9 | 2,138.6 | Borrowings of debt by CIP | 54.3 | 2,752.6 | ||||||||||||||||
Repayments of debt by CIP | Repayments of debt by CIP | (2.8) | (1,872.3) | Repayments of debt by CIP | (3.9) | (1,972.1) | ||||||||||||||||
Net borrowings/(repayments) under credit facility | 184.6 | — | ||||||||||||||||||||
Repayments of senior notes | Repayments of senior notes | (600.0) | — | Repayments of senior notes | (600.0) | — | ||||||||||||||||
Settlement of forward contracts on treasury shares | Settlement of forward contracts on treasury shares | — | (309.4) | Settlement of forward contracts on treasury shares | — | (309.4) | ||||||||||||||||
Collateral received/(returned), net | Collateral received/(returned), net | — | (104.1) | Collateral received/(returned), net | — | (104.1) | ||||||||||||||||
Payment of contingent consideration | Payment of contingent consideration | — | (11.8) | Payment of contingent consideration | — | (11.8) | ||||||||||||||||
Net cash provided by/(used in) financing activities | Net cash provided by/(used in) financing activities | (533.0) | (344.9) | Net cash provided by/(used in) financing activities | (798.8) | 14.2 | ||||||||||||||||
Increase/(decrease) in cash and cash equivalents | Increase/(decrease) in cash and cash equivalents | (941.1) | (87.8) | Increase/(decrease) in cash and cash equivalents | (797.1) | 507.9 | ||||||||||||||||
Foreign exchange movement on cash and cash equivalents | Foreign exchange movement on cash and cash equivalents | (65.4) | (9.7) | Foreign exchange movement on cash and cash equivalents | (114.0) | (28.6) | ||||||||||||||||
Foreign exchange movement on cash and cash equivalents of CIP | Foreign exchange movement on cash and cash equivalents of CIP | (7.8) | (4.7) | Foreign exchange movement on cash and cash equivalents of CIP | (10.0) | (9.1) | ||||||||||||||||
Cash, cash equivalents and restricted cash, beginning of period | Cash, cash equivalents and restricted cash, beginning of period | 2,147.1 | 1,839.3 | Cash, cash equivalents and restricted cash, beginning of period | 2,147.1 | 1,839.3 | ||||||||||||||||
Cash and cash equivalents, end of period | Cash and cash equivalents, end of period | 1,132.8 | 1,737.1 | Cash and cash equivalents, end of period | 1,226.0 | 2,309.5 | ||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | 936.8 | 1,333.0 | Cash and cash equivalents | 1,023.6 | 1,773.2 | ||||||||||||||||
Cash and cash equivalents of CIP | Cash and cash equivalents of CIP | 196.0 | 404.1 | Cash and cash equivalents of CIP | 202.4 | 536.3 | ||||||||||||||||
Total cash and cash equivalents per condensed consolidated statement of cash flows | Total cash and cash equivalents per condensed consolidated statement of cash flows | 1,132.8 | 1,737.1 | Total cash and cash equivalents per condensed consolidated statement of cash flows | 1,226.0 | 2,309.5 |
Three months ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Attributable to Invesco Ltd. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions, except share data | Preferred Shares | Common Shares | Additional Paid-in-Capital | Treasury Shares | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) | Total Equity Attributable to Invesco Ltd. | Nonredeemable Noncontrolling Interests in Consolidated Entities | Total Permanent Equity | Redeemable Noncontrolling Interests in Consolidated Entities Temporary Equity | |||||||||||||||||||||||||||||||||||||||||||||||||
April 1, 2022 | 4,010.5 | 113.2 | 7,547.0 | (3,105.1) | 7,287.9 | (508.5) | 15,345.0 | 641.2 | 15,986.2 | 801.1 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 180.2 | — | 180.2 | 60.9 | 241.1 | (22.2) | |||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | — | (292.6) | (292.6) | — | (292.6) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Change in noncontrolling interests in consolidated entities, net | — | — | — | — | — | — | — | (21.0) | (21.0) | 113.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - preferred ($14.75 per share) | — | — | — | — | (59.2) | — | (59.2) | — | (59.2) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - common ($0.1875 per share) | — | — | — | — | (85.7) | — | (85.7) | — | (85.7) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Employee common share plans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common share-based compensation | — | — | 27.6 | — | — | — | 27.6 | — | 27.6 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Vested common shares | — | — | (11.7) | 11.7 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Other common share awards | — | — | 0.3 | — | — | — | 0.3 | — | 0.3 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of common shares | — | — | — | (1.9) | — | — | (1.9) | — | (1.9) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 4,010.5 | 113.2 | 7,563.2 | (3,095.3) | 7,323.2 | (801.1) | 15,113.7 | 681.1 | 15,794.8 | 892.8 |
Three months ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Attributable to Invesco Ltd. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions, except share data | Preferred Shares | Common Shares | Additional Paid-in-Capital | Treasury Shares | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) | Total Equity Attributable to Invesco Ltd. | Nonredeemable Noncontrolling Interests in Consolidated Entities | Total Permanent Equity | Redeemable Noncontrolling Interests in Consolidated Entities Temporary Equity | |||||||||||||||||||||||||||||||||||||||||||||||||
April 1, 2021 | 4,010.5 | 113.2 | 7,639.6 | (3,087.7) | 6,279.9 | (407.7) | 14,547.8 | 481.7 | 15,029.5 | 338.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 427.5 | — | 427.5 | 51.8 | 479.3 | 15.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | — | 37.9 | 37.9 | — | 37.9 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Change in noncontrolling interests in consolidated entities, net | — | — | — | — | — | — | — | (14.9) | (14.9) | 9.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - preferred $14.75 per share) | — | — | — | — | (59.2) | — | (59.2) | — | (59.2) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - common ($0.17 per share) | — | — | — | — | (78.1) | — | (78.1) | — | (78.1) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Employee common share plans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common share-based compensation | — | — | 34.2 | — | — | — | 34.2 | — | 34.2 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Vested common shares | — | — | (9.5) | 9.5 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Other common share awards | — | — | — | 0.8 | — | — | 0.8 | — | 0.8 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of common shares | — | — | — | (2.9) | — | — | (2.9) | — | (2.9) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 4,010.5 | 113.2 | 7,664.3 | (3,080.3) | 6,570.1 | (369.8) | 14,908.0 | 518.6 | 15,426.6 | 363.9 |
Three months ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Attributable to Invesco Ltd. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions, except share data | Preferred Shares | Common Shares | Additional Paid-in-Capital | Treasury Shares | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) | Total Equity Attributable to Invesco Ltd. | Nonredeemable Noncontrolling Interests in Consolidated Entities | Total Permanent Equity | Redeemable Noncontrolling Interests in Consolidated Entities Temporary Equity | |||||||||||||||||||||||||||||||||||||||||||||||||
July 1, 2022 | 4,010.5 | 113.2 | 7,563.2 | (3,095.3) | 7,323.2 | (801.1) | 15,113.7 | 681.1 | 15,794.8 | 892.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 236.6 | — | 236.6 | (59.6) | 177.0 | (8.7) | |||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | — | (329.9) | (329.9) | — | (329.9) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Change in noncontrolling interests in consolidated entities, net | — | — | — | — | — | — | — | (12.1) | (12.1) | 106.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - preferred ($14.75 per share) | — | — | — | — | (59.2) | — | (59.2) | — | (59.2) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - common ($0.1875 per share) | — | — | — | — | (84.4) | — | (84.4) | — | (84.4) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Employee common share plans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common share-based compensation | — | — | 26.0 | — | — | — | 26.0 | — | 26.0 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Vested common shares | — | — | (36.6) | 36.6 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Other common share awards | — | — | (5.6) | 12.2 | — | — | 6.6 | — | 6.6 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of common shares | — | — | — | (5.7) | — | — | (5.7) | — | (5.7) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | 4,010.5 | 113.2 | 7,547.0 | (3,052.2) | 7,416.2 | (1,131.0) | 14,903.7 | 609.4 | 15,513.1 | 990.4 |
Three months ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Attributable to Invesco Ltd. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions, except share data | Preferred Shares | Common Shares | Additional Paid-in-Capital | Treasury Shares | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) | Total Equity Attributable to Invesco Ltd. | Nonredeemable Noncontrolling Interests in Consolidated Entities | Total Permanent Equity | Redeemable Noncontrolling Interests in Consolidated Entities Temporary Equity | |||||||||||||||||||||||||||||||||||||||||||||||||
July 1, 2021 | 4,010.5 | 113.2 | 7,664.3 | (3,080.3) | 6,570.1 | (369.8) | 14,908.0 | 518.6 | 15,426.6 | 363.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 389.3 | — | 389.3 | 135.8 | 525.1 | 20.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | — | (107.5) | (107.5) | — | (107.5) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Change in noncontrolling interests in consolidated entities, net | — | — | — | — | — | — | — | (2.5) | (2.5) | 158.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - preferred $14.75 per share) | — | — | — | — | (59.2) | — | (59.2) | — | (59.2) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - common ($0.170 per share) | — | — | — | — | (79.0) | — | (79.0) | — | (79.0) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Employee common share plans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common share-based compensation | — | — | 33.2 | — | — | — | 33.2 | — | 33.2 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Vested common shares | — | — | (36.3) | 36.2 | — | — | (0.1) | — | (0.1) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Other common share awards | — | — | (1.1) | 7.0 | — | — | 5.9 | — | 5.9 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of common shares | — | — | — | (10.5) | — | — | (10.5) | — | (10.5) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | 4,010.5 | 113.2 | 7,660.1 | (3,047.6) | 6,821.2 | (477.3) | 15,080.1 | 651.9 | 15,732.0 | 542.6 |
Six months ended June 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2022 | Nine months ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Attributable to Invesco Ltd. | Equity Attributable to Invesco Ltd. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions, except share data | $ in millions, except share data | Preferred Shares | Common Shares | Additional Paid-in-Capital | Treasury Shares | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) | Total Equity Attributable to Invesco Ltd. | Nonredeemable Noncontrolling Interests in Consolidated Entities | Total Permanent Equity | Redeemable Noncontrolling Interests in Consolidated Entities Temporary Equity | $ in millions, except share data | Preferred Shares | Common Shares | Additional Paid-in-Capital | Treasury Shares | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) | Total Equity Attributable to Invesco Ltd. | Nonredeemable Noncontrolling Interests in Consolidated Entities | Total Permanent Equity | Redeemable Noncontrolling Interests in Consolidated Entities Temporary Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 1, 2022 | January 1, 2022 | 4,010.5 | 113.2 | 7,688.0 | (3,043.6) | 7,169.2 | (441.5) | 15,495.8 | 672.2 | 16,168.0 | 510.8 | January 1, 2022 | 4,010.5 | 113.2 | 7,688.0 | (3,043.6) | 7,169.2 | (441.5) | 15,495.8 | 672.2 | 16,168.0 | 510.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | Net income | — | — | — | — | 437.1 | — | 437.1 | 52.7 | 489.8 | (33.4) | Net income | — | — | — | — | 673.7 | — | 673.7 | (6.9) | 666.8 | (42.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss) | Other comprehensive income/(loss) | — | — | — | — | — | (359.6) | (359.6) | — | (359.6) | — | Other comprehensive income/(loss) | — | — | — | — | — | (689.5) | (689.5) | — | (689.5) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in noncontrolling interests in consolidated entities, net | Change in noncontrolling interests in consolidated entities, net | — | — | — | — | — | — | — | (43.8) | (43.8) | 415.4 | Change in noncontrolling interests in consolidated entities, net | — | — | — | — | — | — | — | (55.9) | (55.9) | 521.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - preferred ($29.50 per share) | — | — | — | — | (118.4) | — | (118.4) | — | (118.4) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - common ($0.3575 per share) | — | — | — | — | (164.7) | — | (164.7) | — | (164.7) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - preferred ($44.25 per share) | Dividends declared - preferred ($44.25 per share) | — | — | — | — | (177.6) | — | (177.6) | — | (177.6) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - common ($0.5450 per share) | Dividends declared - common ($0.5450 per share) | — | — | — | — | (249.1) | — | (249.1) | — | (249.1) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee common share plans: | Employee common share plans: | Employee common share plans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common share-based compensation | Common share-based compensation | — | — | 57.1 | — | — | — | 57.1 | — | 57.1 | — | Common share-based compensation | — | — | 83.1 | — | — | — | 83.1 | — | 83.1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested common shares | Vested common shares | — | — | (182.7) | 182.7 | — | — | — | — | — | — | Vested common shares | — | — | (219.3) | 219.3 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other common share awards | Other common share awards | — | — | 0.8 | — | — | — | 0.8 | — | 0.8 | — | Other common share awards | — | — | (4.8) | 12.2 | — | — | 7.4 | — | 7.4 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of common shares | Purchase of common shares | — | — | — | (234.4) | — | — | (234.4) | — | (234.4) | — | Purchase of common shares | — | — | — | (240.1) | — | — | (240.1) | — | (240.1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 4,010.5 | 113.2 | 7,563.2 | (3,095.3) | 7,323.2 | (801.1) | 15,113.7 | 681.1 | 15,794.8 | 892.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 4,010.5 | 113.2 | 7,547.0 | (3,052.2) | 7,416.2 | (1,131.0) | 14,903.7 | 609.4 | 15,513.1 | 990.4 |
Six months ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2021 | Nine months ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Attributable to Invesco Ltd. | Equity Attributable to Invesco Ltd. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions, except share data | $ in millions, except share data | Preferred Shares | Common Shares | Additional Paid-in-Capital | Treasury Shares | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) | Total Equity Attributable to Invesco Ltd. | Nonredeemable Noncontrolling Interests in Consolidated Entities | Total Permanent Equity | Redeemable Noncontrolling Interests in Consolidated Entities Temporary Equity | $ in millions, except share data | Preferred Shares | Common Shares | Additional Paid-in-Capital | Treasury Shares | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) | Total Equity Attributable to Invesco Ltd. | Nonredeemable Noncontrolling Interests in Consolidated Entities | Total Permanent Equity | Redeemable Noncontrolling Interests in Consolidated Entities Temporary Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 1, 2021 | January 1, 2021 | 4,010.5 | 113.2 | 7,811.4 | (3,253.8) | 6,085.0 | (404.5) | 14,361.8 | 447.1 | 14,808.9 | 211.8 | January 1, 2021 | 4,010.5 | 113.2 | 7,811.4 | (3,253.8) | 6,085.0 | (404.5) | 14,361.8 | 447.1 | 14,808.9 | 211.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | Net income | — | — | — | — | 754.5 | — | 754.5 | 94.6 | 849.1 | 17.6 | Net income | — | — | — | — | 1,143.8 | — | 1,143.8 | 230.4 | 1,374.2 | 38.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss) | Other comprehensive income/(loss) | — | — | — | — | — | 34.7 | 34.7 | — | 34.7 | — | Other comprehensive income/(loss) | — | — | — | — | — | (72.8) | (72.8) | — | (72.8) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in noncontrolling interests in consolidated entities, net | Change in noncontrolling interests in consolidated entities, net | — | — | — | — | — | — | — | (23.1) | (23.1) | 134.5 | Change in noncontrolling interests in consolidated entities, net | — | — | — | — | — | — | — | (25.6) | (25.6) | 292.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - preferred ($29.50 per share) | — | — | — | — | (118.4) | — | (118.4) | — | (118.4) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - common ($0.325 per share) | — | — | — | — | (151.0) | — | (151.0) | — | (151.0) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - preferred ($44.25 per share) | Dividends declared - preferred ($44.25 per share) | — | — | — | — | (177.6) | — | (177.6) | — | (177.6) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared - common ($0.495 per share) | Dividends declared - common ($0.495 per share) | — | — | — | — | (230.0) | — | (230.0) | — | (230.0) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee common share plans: | Employee common share plans: | Employee common share plans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common share-based compensation | Common share-based compensation | — | — | 72.8 | — | — | — | 72.8 | — | 72.8 | — | Common share-based compensation | — | — | 106.0 | — | — | — | 106.0 | — | 106.0 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested common shares | Vested common shares | — | — | (219.9) | 219.9 | — | — | — | — | — | — | Vested common shares | — | — | (256.2) | 256.1 | — | — | (0.1) | — | (0.1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other common share awards | Other common share awards | — | — | — | 1.2 | — | — | 1.2 | — | 1.2 | — | Other common share awards | — | — | (1.1) | 8.2 | — | — | 7.1 | — | 7.1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of common shares | Purchase of common shares | — | — | — | (47.6) | — | — | (47.6) | — | (47.6) | — | Purchase of common shares | — | — | — | (58.1) | — | — | (58.1) | — | (58.1) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 4,010.5 | 113.2 | 7,664.3 | (3,080.3) | 6,570.1 | (369.8) | 14,908.0 | 518.6 | 15,426.6 | 363.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 4,010.5 | 113.2 | 7,660.1 | (3,047.6) | 6,821.2 | (477.3) | 15,080.1 | 651.9 | 15,732.0 | 542.6 |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||
$ in millions | $ in millions | Fair Value | Fair Value | $ in millions | Fair Value | Fair Value | ||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | 936.8 | 1,896.4 | Cash and cash equivalents | 1,023.6 | 1,896.4 | ||||||||||||||||||||||
Equity investments | Equity investments | 284.5 | 337.9 | Equity investments | 273.9 | 337.9 | ||||||||||||||||||||||
Foreign time deposits (1) | Foreign time deposits (1) | 26.6 | 30.4 | Foreign time deposits (1) | 21.7 | 30.4 | ||||||||||||||||||||||
Assets held for policyholders | Assets held for policyholders | 1,067.7 | 1,893.6 | Assets held for policyholders | 754.3 | 1,893.6 | ||||||||||||||||||||||
Policyholder payables (1) | Policyholder payables (1) | (1,067.7) | (1,893.6) | Policyholder payables (1) | (754.3) | (1,893.6) | ||||||||||||||||||||||
Total return swaps related to deferred compensation plans | Total return swaps related to deferred compensation plans | (56.0) | 1.6 | Total return swaps related to deferred compensation plans | (26.6) | 1.6 |
As of June 30, 2022 | As of September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | $ in millions | Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||||||||||||||
Assets: | Assets: | Assets: | ||||||||||||||||||||||||||||||||||||||||||||
Cash equivalents: | Cash equivalents: | Cash equivalents: | ||||||||||||||||||||||||||||||||||||||||||||
Money market funds (1) | Money market funds (1) | 482.5 | 482.5 | — | — | Money market funds (1) | 579.0 | 579.0 | — | — | ||||||||||||||||||||||||||||||||||||
Investments (2): | Investments (2): | Investments (2): | ||||||||||||||||||||||||||||||||||||||||||||
Equity investments: | Equity investments: | Equity investments: | ||||||||||||||||||||||||||||||||||||||||||||
Seed money | Seed money | 106.2 | 106.2 | — | — | Seed money | 105.5 | 105.5 | — | — | ||||||||||||||||||||||||||||||||||||
Investments related to deferred compensation plans | Investments related to deferred compensation plans | 177.2 | 177.2 | — | — | Investments related to deferred compensation plans | 167.4 | 167.4 | — | — | ||||||||||||||||||||||||||||||||||||
Other equity securities | Other equity securities | 1.1 | 1.1 | — | — | Other equity securities | 1.0 | 1.0 | — | — | ||||||||||||||||||||||||||||||||||||
Assets held for policyholders (3) | Assets held for policyholders (3) | 1,067.7 | 1,067.7 | — | — | Assets held for policyholders (3) | 754.3 | 754.3 | — | — | ||||||||||||||||||||||||||||||||||||
Total | Total | 1,834.7 | 1,834.7 | — | — | Total | 1,607.2 | 1,607.2 | — | — | ||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
Total return swaps related to deferred compensation plans | Total return swaps related to deferred compensation plans | (56.0) | — | (56.0) | — | Total return swaps related to deferred compensation plans | (26.6) | — | (26.6) | — | ||||||||||||||||||||||||||||||||||||
Total | Total | (56.0) | — | (56.0) | — | Total | (26.6) | — | (26.6) | — |
As of December 31, 2021 | |||||||||||||||||||||||
$ in millions | Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||||
Cash equivalents: | |||||||||||||||||||||||
Money market funds (1) | 1,270.0 | 1,270.0 | — | — | |||||||||||||||||||
Investments (2): | |||||||||||||||||||||||
Equity investments: | |||||||||||||||||||||||
Seed money | 109.4 | 109.4 | — | — | |||||||||||||||||||
Investments related to deferred compensation plans | 226.6 | 226.6 | — | — | |||||||||||||||||||
Other equity securities | 1.9 | 1.9 | — | — | |||||||||||||||||||
Assets held for policyholders (3) | 1,893.6 | 1,893.6 | — | — | |||||||||||||||||||
Total return swaps related to deferred compensation plans | 1.6 | — | 1.6 | — | |||||||||||||||||||
Total | 3,503.1 | 3,501.5 | 1.6 | — | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||||
Contingent consideration liability | (1.3) | — | — | (1.3) | |||||||||||||||||||
Total | (1.3) | — | — | (1.3) |
$ in millions | $ in millions | June 30, 2022 | December 31, 2021 | $ in millions | September 30, 2022 | December 31, 2021 | ||||||||||||||||
Equity investments: | Equity investments: | Equity investments: | ||||||||||||||||||||
Seed money | Seed money | 106.2 | 109.4 | Seed money | 105.5 | 109.4 | ||||||||||||||||
Investments related to deferred compensation plans | Investments related to deferred compensation plans | 177.2 | 226.6 | Investments related to deferred compensation plans | 167.4 | 226.6 | ||||||||||||||||
Other equity securities | Other equity securities | 1.1 | 1.9 | Other equity securities | 1.0 | 1.9 | ||||||||||||||||
Equity method investments | Equity method investments | 567.9 | 550.1 | Equity method investments | 605.6 | 550.1 | ||||||||||||||||
Foreign time deposits | Foreign time deposits | 26.6 | 30.4 | Foreign time deposits | 21.7 | 30.4 | ||||||||||||||||
Other | Other | 5.6 | 7.9 | Other | 5.5 | 7.9 | ||||||||||||||||
Total investments (1) | Total investments (1) | 884.6 | 926.3 | Total investments (1) | 906.7 | 926.3 |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | Carrying Value (3) | Fair Value | Carrying Value (3) | Fair Value | $ in millions | Carrying Value (3) | Fair Value | Carrying Value (3) | Fair Value | ||||||||||||||||||||||||||||||||||||
$1.5 billion floating rate credit facility expiring April 26, 2026 | $1.5 billion floating rate credit facility expiring April 26, 2026 | 184.6 | 184.6 | — | — | $1.5 billion floating rate credit facility expiring April 26, 2026 | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Unsecured Senior Notes (1): | Unsecured Senior Notes (1): | Unsecured Senior Notes (1): | ||||||||||||||||||||||||||||||||||||||||||||
$600 million 3.125% - due November 30, 2022 (2) | $600 million 3.125% - due November 30, 2022 (2) | — | — | 599.4 | 613.8 | $600 million 3.125% - due November 30, 2022 (2) | — | — | 599.4 | 613.8 | ||||||||||||||||||||||||||||||||||||
$600 million 4.000% - due January 30, 2024 | $600 million 4.000% - due January 30, 2024 | 598.3 | 600.7 | 597.8 | 633.7 | $600 million 4.000% - due January 30, 2024 | 598.6 | 591.9 | 597.8 | 633.7 | ||||||||||||||||||||||||||||||||||||
$500 million 3.750% - due January 15, 2026 | $500 million 3.750% - due January 15, 2026 | 497.6 | 494.0 | 497.3 | 541.2 | $500 million 3.750% - due January 15, 2026 | 497.8 | 480.4 | 497.3 | 541.2 | ||||||||||||||||||||||||||||||||||||
$400 million 5.375% - due November 30, 2043 | $400 million 5.375% - due November 30, 2043 | 390.7 | 403.3 | 390.6 | 536.8 | $400 million 5.375% - due November 30, 2043 | 390.7 | 359.7 | 390.6 | 536.8 | ||||||||||||||||||||||||||||||||||||
Debt | Debt | 1,671.2 | 1,682.6 | 2,085.1 | 2,325.5 | Debt | 1,487.1 | 1,432.0 | 2,085.1 | 2,325.5 |
As of | As of | |||||||||||||||||||||
in millions | in millions | June 30, 2022 | December 31, 2021 | in millions | September 30, 2022 | December 31, 2021 | ||||||||||||||||
Preferred shares issued (1) | Preferred shares issued (1) | 4.0 | 4.0 | Preferred shares issued (1) | 4.0 | 4.0 | ||||||||||||||||
Preferred shares outstanding (1) | Preferred shares outstanding (1) | 4.0 | 4.0 | Preferred shares outstanding (1) | 4.0 | 4.0 |
As of | As of | |||||||||||||||||||||
in millions | in millions | June 30, 2022 | December 31, 2021 | in millions | September 30, 2022 | December 31, 2021 | ||||||||||||||||
Common shares issued | Common shares issued | 566.1 | 566.1 | Common shares issued | 566.1 | 566.1 | ||||||||||||||||
Less: Treasury shares for which dividend and voting rights do not apply | Less: Treasury shares for which dividend and voting rights do not apply | (111.2) | (104.9) | Less: Treasury shares for which dividend and voting rights do not apply | (111.3) | (104.9) | ||||||||||||||||
Common shares outstanding | Common shares outstanding | 454.9 | 461.2 | Common shares outstanding | 454.8 | 461.2 |
For the three months ended June 30, 2022 | For the three months ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | Foreign currency translation | Employee benefit plans | Equity method investments | Available-for-sale investments | Total | $ in millions | Foreign currency translation | Employee benefit plans | Equity method investments | Available-for-sale investments | Total | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax: | Other comprehensive income/(loss), net of tax: | Other comprehensive income/(loss), net of tax: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Currency translation differences on investments in foreign subsidiaries | Currency translation differences on investments in foreign subsidiaries | (292.9) | — | — | — | (292.9) | Currency translation differences on investments in foreign subsidiaries | (330.1) | — | — | — | (330.1) | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income, net | Other comprehensive income, net | — | 0.3 | — | — | 0.3 | Other comprehensive income, net | — | 0.2 | — | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax | Other comprehensive income/(loss), net of tax | (292.9) | 0.3 | — | — | (292.6) | Other comprehensive income/(loss), net of tax | (330.1) | 0.2 | — | — | (329.9) | ||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | Beginning balance | (419.8) | (89.4) | — | 0.7 | (508.5) | Beginning balance | (712.7) | (89.1) | — | 0.7 | (801.1) | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax | Other comprehensive income/(loss), net of tax | (292.9) | 0.3 | — | — | (292.6) | Other comprehensive income/(loss), net of tax | (330.1) | 0.2 | — | — | (329.9) | ||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | Ending balance | (712.7) | (89.1) | — | 0.7 | (801.1) | Ending balance | (1,042.8) | (88.9) | — | 0.7 | (1,131.0) |
For the six months ended June 30, 2022 | For the nine months ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | Foreign currency translation | Employee benefit plans | Equity method investments | Available-for-sale investments | Total | $ in millions | Foreign currency translation | Employee benefit plans | Equity method investments | Available-for-sale investments | Total | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax: | Other comprehensive income/(loss), net of tax: | Other comprehensive income/(loss), net of tax: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Currency translation differences on investments in foreign subsidiaries | Currency translation differences on investments in foreign subsidiaries | (360.1) | — | — | — | (360.1) | Currency translation differences on investments in foreign subsidiaries | (690.2) | — | — | — | (690.2) | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net | Other comprehensive income/(loss), net | — | 0.5 | — | — | 0.5 | Other comprehensive income/(loss), net | — | 0.7 | — | — | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax | Other comprehensive income/(loss), net of tax | (360.1) | 0.5 | — | — | (359.6) | Other comprehensive income/(loss), net of tax | (690.2) | 0.7 | — | — | (689.5) | ||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | Beginning balance | (352.6) | (89.6) | — | 0.7 | (441.5) | Beginning balance | (352.6) | (89.6) | — | 0.7 | (441.5) | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax | Other comprehensive income/(loss), net of tax | (360.1) | 0.5 | — | — | (359.6) | Other comprehensive income/(loss), net of tax | (690.2) | 0.7 | — | — | (689.5) | ||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | Ending balance | (712.7) | (89.1) | — | 0.7 | (801.1) | Ending balance | (1,042.8) | (88.9) | — | 0.7 | (1,131.0) |
For the three months ended June 30, 2021 | For the three months ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | Foreign currency translation | Employee benefit plans | Equity method investments | Available-for-sale investments | Total | $ in millions | Foreign currency translation | Employee benefit plans | Equity method investments | Available-for-sale investments | Total | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax: | Other comprehensive income/(loss), net of tax: | Other comprehensive income/(loss), net of tax: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Currency translation differences on investments in foreign subsidiaries | Currency translation differences on investments in foreign subsidiaries | 34.9 | — | — | — | 34.9 | Currency translation differences on investments in foreign subsidiaries | (108.7) | — | — | — | (108.7) | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income, net | Other comprehensive income, net | — | 3.1 | — | (0.1) | 3.0 | Other comprehensive income, net | — | 1.2 | — | — | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax | Other comprehensive income/(loss), net of tax | 34.9 | 3.1 | — | (0.1) | 37.9 | Other comprehensive income/(loss), net of tax | (108.7) | 1.2 | — | — | (107.5) | ||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | Beginning balance | (278.5) | (130.0) | 0.1 | 0.7 | (407.7) | Beginning balance | (243.6) | (126.9) | 0.1 | 0.6 | (369.8) | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax | Other comprehensive income/(loss), net of tax | 34.9 | 3.1 | — | (0.1) | 37.9 | Other comprehensive income/(loss), net of tax | (108.7) | 1.2 | — | — | (107.5) | ||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | Ending balance | (243.6) | (126.9) | 0.1 | 0.6 | (369.8) | Ending balance | (352.3) | (125.7) | 0.1 | 0.6 | (477.3) |
For the six months ended June 30, 2021 | For the nine months ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | Foreign currency translation | Employee benefit plans | Equity method investments | Available-for-sale investments | Total | $ in millions | Foreign currency translation | Employee benefit plans | Equity method investments | Available-for-sale investments | Total | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax: | Other comprehensive income/(loss), net of tax: | Other comprehensive income/(loss), net of tax: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Currency translation differences on investments in foreign subsidiaries | Currency translation differences on investments in foreign subsidiaries | 35.7 | — | — | — | 35.7 | Currency translation differences on investments in foreign subsidiaries | (73.0) | — | — | — | (73.0) | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income, net | Other comprehensive income, net | — | (0.9) | — | (0.1) | (1.0) | Other comprehensive income, net | — | 0.3 | — | (0.1) | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax | Other comprehensive income/(loss), net of tax | 35.7 | (0.9) | — | (0.1) | 34.7 | Other comprehensive income/(loss), net of tax | (73.0) | 0.3 | — | (0.1) | (72.8) | ||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | Beginning balance | (279.3) | (126.0) | 0.1 | 0.7 | (404.5) | Beginning balance | (279.3) | (126.0) | 0.1 | 0.7 | (404.5) | ||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/(loss), net of tax | Other comprehensive income/(loss), net of tax | 35.7 | (0.9) | — | (0.1) | 34.7 | Other comprehensive income/(loss), net of tax | (73.0) | 0.3 | — | (0.1) | (72.8) | ||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | Ending balance | (243.6) | (126.9) | 0.1 | 0.6 | (369.8) | Ending balance | (352.3) | (125.7) | 0.1 | 0.6 | (477.3) |
For the three months ended June 30, | For the three months ended September 30, | |||||||||||||||||||||
$ in millions | $ in millions | 2022 | 2021 | $ in millions | 2022 | 2021 | ||||||||||||||||
Americas | Americas | 1,183.3 | 1,282.3 | Americas | 1,125.1 | 1,329.8 | ||||||||||||||||
Asia Pacific | Asia Pacific | 70.3 | 90.2 | Asia Pacific | 63.2 | 81.5 | ||||||||||||||||
EMEA ex UK (Europe, Middle East and Africa) | 142.0 | 184.2 | ||||||||||||||||||||
UK | 134.8 | 164.7 | ||||||||||||||||||||
EMEA(1) | EMEA(1) | 257.4 | 338.7 | |||||||||||||||||||
Total operating revenues | Total operating revenues | 1,530.4 | 1,721.4 | Total operating revenues | 1,445.7 | 1,750.0 |
For the six months ended June 30, | For the nine months ended September 30, | |||||||||||||||||||||
$ in millions | $ in millions | 2022 | 2021 | $ in millions | 2022 | 2021 | ||||||||||||||||
Americas | Americas | 2,428.1 | 2,513.0 | Americas | 3,553.2 | 3,842.8 | ||||||||||||||||
Asia Pacific | Asia Pacific | 155.5 | 179.3 | Asia Pacific | 218.7 | 260.8 | ||||||||||||||||
EMEA ex UK (Europe, Middle East and Africa) | 295.8 | 360.5 | ||||||||||||||||||||
UK | 280.4 | 328.3 | ||||||||||||||||||||
EMEA(1) | EMEA(1) | 833.6 | 1027.5 | |||||||||||||||||||
Total operating revenues | Total operating revenues | 3,159.8 | 3,381.1 | Total operating revenues | 4,605.5 | 5,131.1 |
For the six months ended June 30, 2022 | For the six months ended June 30, 2021 | For the nine months ended September 30, 2022 | For the nine months ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
millions of common shares, except fair values | millions of common shares, except fair values | Time- Vested | Performance- Vested | Weighted Average Grant Date Fair Value ($) | Time- Vested | Performance- Vested | millions of common shares, except fair values | Time- Vested | Performance- Vested | Weighted Average Grant Date Fair Value ($) | Time- Vested | Performance- Vested | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested at the beginning of period | Unvested at the beginning of period | 13.5 | 1.9 | 18.88 | 18.1 | 1.6 | Unvested at the beginning of period | 13.5 | 1.9 | 18.88 | 18.1 | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted during the period | Granted during the period | 3.6 | 1.0 | 21.23 | 3.4 | 0.6 | Granted during the period | 3.6 | 1.0 | 21.23 | 3.4 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited during the period | Forfeited during the period | (0.2) | (0.1) | 19.44 | (0.2) | — | Forfeited during the period | (0.3) | (0.1) | 19.33 | (0.4) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested and distributed during the period | Vested and distributed during the period | (5.1) | (0.4) | 20.26 | (6.4) | (0.5) | Vested and distributed during the period | (6.2) | (0.4) | 20.20 | (7.3) | (0.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested at the end of the period | Unvested at the end of the period | 11.8 | 2.4 | 19.09 | 14.9 | 1.7 | Unvested at the end of the period | 10.6 | 2.4 | 19.02 | 13.8 | 1.9 |
$ in millions | Employee Compensation | Other Expenses | Total | ||||||||||||||
Balance as of July 1, 2020 | — | — | — | ||||||||||||||
Accrued charges | 85.0 | 9.1 | 94.1 | ||||||||||||||
Payments | (40.5) | (9.1) | (49.6) | ||||||||||||||
Balance as of December 31, 2020 | 44.5 | — | 44.5 | ||||||||||||||
Accrued charges | 63.7 | 14.3 | 78.0 | ||||||||||||||
Payments | (75.2) | (12.5) | (87.7) | ||||||||||||||
Balance as of December 31, 2021 | 33.0 | 1.8 | 34.8 | ||||||||||||||
Accrued charges | 1.9 | 1.8 | 3.7 | ||||||||||||||
Payments | (31.5) | (2.1) | (33.6) | ||||||||||||||
Balance as of March 31, 2022 | 3.4 | 1.5 | 4.9 | ||||||||||||||
Accrued charges | 1.8 | 1.3 | 3.1 | ||||||||||||||
Payments | (3.9) | (1.8) | (5.7) | ||||||||||||||
Balance as of June 30, 2022 | 1.3 | 1.0 | 2.3 | ||||||||||||||
Non-cash charges (1) | |||||||||||||||||
Six months ended December 31, 2020 | 19.5 | 5.4 | 24.9 | ||||||||||||||
Twelve months ended December 31, 2021 | 13.7 | 8.8 | 22.5 | ||||||||||||||
Six months ended June 30, 2022 | 4.7 | 15.5 | 20.2 | ||||||||||||||
Total non-cash charges | 37.9 | 29.7 | 67.6 | ||||||||||||||
Cumulative charges incurred through June 30, 2022 | 190.3 | 56.2 | 246.5 |
For the nine month period ended September 30, 2022 | For the twelve month period ended December 31, 2021 | ||||||||||
Beginning balance | 34.8 | 44.5 | |||||||||
Accrued charges | 7.2 | 78.0 | |||||||||
Payments | (38.4) | (87.7) | |||||||||
Ending balance | 3.6 | 34.8 | |||||||||
Non-cash charges (1) | 72.6 | 47.4 | |||||||||
Cumulative charges incurred | 251.9 | 219.5 |
For the three months ended June 30, | For the six months ended June 30, | For the three months ended September 30, | For the nine months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
In millions, except per common share data | In millions, except per common share data | 2022 | 2021 | 2022 | 2021 | In millions, except per common share data | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||
Net income attributable to Invesco Ltd. | Net income attributable to Invesco Ltd. | 121.0 | 368.3 | 318.7 | 636.1 | Net income attributable to Invesco Ltd. | 177.4 | 330.1 | 496.1 | 966.2 | ||||||||||||||||||||||||||||||||||||
Invesco Ltd: | Invesco Ltd: | Invesco Ltd: | ||||||||||||||||||||||||||||||||||||||||||||
Weighted average common shares outstanding - basic | Weighted average common shares outstanding - basic | 456.5 | 462.8 | 458.0 | 462.2 | Weighted average common shares outstanding - basic | 457.0 | 463.3 | 457.7 | 462.6 | ||||||||||||||||||||||||||||||||||||
Dilutive effect of non-participating common share-based awards | Dilutive effect of non-participating common share-based awards | 3.0 | 3.4 | 2.7 | 3.1 | Dilutive effect of non-participating common share-based awards | 2.5 | 2.7 | 2.3 | 3.0 | ||||||||||||||||||||||||||||||||||||
Weighted average common shares outstanding - diluted | Weighted average common shares outstanding - diluted | 459.5 | 466.2 | 460.7 | 465.3 | Weighted average common shares outstanding - diluted | 459.5 | 466.0 | 460.0 | 465.6 | ||||||||||||||||||||||||||||||||||||
Earnings per common share: | Earnings per common share: | Earnings per common share: | ||||||||||||||||||||||||||||||||||||||||||||
-basic | -basic | $0.27 | $0.80 | $0.70 | $1.38 | -basic | $0.39 | $0.71 | $1.08 | $2.09 | ||||||||||||||||||||||||||||||||||||
-diluted | -diluted | $0.26 | $0.79 | $0.69 | $1.37 | -diluted | $0.39 | $0.71 | $1.08 | $2.08 |
For the six months ended June 30, 2022 | For the six months ended June 30, 2021 | For the nine months ended September 30, 2022 | For the nine months ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | VIEs | VOEs | VIEs | VOEs | $ in millions | VIEs | VOEs | VIEs | VOEs | ||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in assets of CIP | Net increase (decrease) in assets of CIP | 101.6 | (22.2) | (38.3) | 104.6 | Net increase (decrease) in assets of CIP | 178.4 | (22.2) | 244.8 | 104.6 | ||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in liabilities of CIP | Net increase (decrease) in liabilities of CIP | 0.3 | — | (35.3) | 1.0 | Net increase (decrease) in liabilities of CIP | 3.3 | — | 67.1 | 1.0 |
As of June 30, 2022 | As of September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Investments Measured at NAV as a practical expedient | $ in millions | Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Investments Measured at NAV as a practical expedient | ||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | Assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bank loans | Bank loans | 6,427.6 | — | 6,196.5 | 231.1 | — | Bank loans | 6,251.4 | — | 6,029.8 | 221.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Bonds | Bonds | 725.7 | 7.7 | 718.0 | — | — | Bonds | 750.0 | 40.5 | 709.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Equity securities | Equity securities | 259.9 | 129.2 | 39.6 | 91.1 | — | Equity securities | 271.9 | 132.0 | 40.3 | 99.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Equity and fixed income mutual funds | Equity and fixed income mutual funds | 291.4 | 36.2 | 255.2 | — | — | Equity and fixed income mutual funds | 208.8 | 4.3 | 204.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Investments in other private equity funds | Investments in other private equity funds | 521.9 | — | — | 6.1 | 515.8 | Investments in other private equity funds | 452.7 | — | — | 7.6 | 445.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Real estate investments | Real estate investments | 493.5 | — | — | — | 493.5 | Real estate investments | 562.3 | — | — | — | 562.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Total assets at fair value | Total assets at fair value | 8,720.0 | 173.1 | 7,209.3 | 328.3 | 1,009.3 | Total assets at fair value | 8,497.1 | 176.8 | 6,984.1 | 328.8 | 1,007.4 |
As of December 31, 2021 | |||||||||||||||||||||||||||||
$ in millions | Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Investments Measured at NAV as a practical expedient | ||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||
Bank loans | 7,132.4 | — | 6,993.6 | 138.8 | — | ||||||||||||||||||||||||
Bonds | 714.9 | 22.3 | 692.4 | 0.2 | — | ||||||||||||||||||||||||
Equity securities | 219.1 | 103.9 | 29.7 | 85.5 | — | ||||||||||||||||||||||||
Equity and fixed income mutual funds | 243.2 | 20.1 | 223.1 | — | — | ||||||||||||||||||||||||
Investments in other private equity funds | 454.9 | — | — | 8.1 | 446.8 | ||||||||||||||||||||||||
Real estate investments | 278.0 | — | — | — | 278.0 | ||||||||||||||||||||||||
Total assets at fair value | 9,042.5 | 146.3 | 7,938.8 | 232.6 | 724.8 | ||||||||||||||||||||||||
Index expressed in currency | Three months ended June 30, | Six months ended June 30, | Index expressed in currency | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||
Equity Index | Equity Index | 2022 | 2021 | 2022 | 2021 | Equity Index | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||
S&P 500 | S&P 500 | U.S. Dollar | (16.5) | % | 8.2 | % | (20.6) | % | 14.4 | % | S&P 500 | U.S. Dollar | (5.3) | % | 0.2 | % | (24.8) | % | 14.7 | % | ||||||||||||||||||||||||||||||||
FTSE 100 | FTSE 100 | British Pound | (4.6) | % | 4.8 | % | (2.9) | % | 8.9 | % | FTSE 100 | British Pound | (3.8) | % | 0.7 | % | (6.7) | % | 9.7 | % | ||||||||||||||||||||||||||||||||
FTSE 100 | FTSE 100 | U.S. Dollar | (11.6) | % | 4.8 | % | (12.7) | % | 10.1 | % | FTSE 100 | U.S. Dollar | (12.1) | % | (1.8) | % | (23.2) | % | 8.2 | % | ||||||||||||||||||||||||||||||||
Nikkei 225 | Nikkei 225 | Japanese Yen | (5.1) | % | (1.3) | % | (8.3) | % | 4.9 | % | Nikkei 225 | Japanese Yen | (1.7) | % | 2.3 | % | (9.9) | % | 7.3 | % | ||||||||||||||||||||||||||||||||
Nikkei 225 | Nikkei 225 | U.S. Dollar | (15.0) | % | (1.8) | % | (22.2) | % | (2.5) | % | Nikkei 225 | U.S. Dollar | (7.9) | % | 2.0 | % | (28.3) | % | (0.6) | % | ||||||||||||||||||||||||||||||||
MSCI Emerging Markets | MSCI Emerging Markets | U.S. Dollar | (12.4) | % | 4.4 | % | (18.8) | % | 6.5 | % | MSCI Emerging Markets | U.S. Dollar | (12.5) | % | (8.8) | % | (28.9) | % | (3.0) | % | ||||||||||||||||||||||||||||||||
Bond Index | Bond Index | Bond Index | ||||||||||||||||||||||||||||||||||||||||||||||||||
Barclays U.S. Aggregate Bond | Barclays U.S. Aggregate Bond | U.S. Dollar | (4.7) | % | 1.8 | % | (10.4) | % | (1.6) | % | Barclays U.S. Aggregate Bond | U.S. Dollar | (4.8) | % | 0.1 | % | (14.6) | % | (1.6) | % |
$ in millions, other than per common share amounts, operating margins and AUM | $ in millions, other than per common share amounts, operating margins and AUM | Three months ended June 30, | Six months ended June 30, | $ in millions, other than per common share amounts, operating margins and AUM | Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||||||||||
U.S. GAAP Financial Measures Summary | U.S. GAAP Financial Measures Summary | 2022 | 2021 | 2022 | 2021 | U.S. GAAP Financial Measures Summary | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||
Operating revenues | Operating revenues | 1,530.4 | 1,721.4 | 3,159.8 | 3,381.1 | Operating revenues | 1,445.7 | 1,750.0 | 4,605.5 | 5,131.1 | ||||||||||||||||||||||||||||||||||||
Operating income | Operating income | 344.7 | 470.9 | 722.4 | 815.2 | Operating income | 350.2 | 463.8 | 1,072.6 | 1,279.0 | ||||||||||||||||||||||||||||||||||||
Operating margin | Operating margin | 22.5 | % | 27.4 | % | 22.9 | % | 24.1 | % | Operating margin | 24.2 | % | 26.5 | % | 23.3 | % | 24.9 | % | ||||||||||||||||||||||||||||
Net income attributable to Invesco Ltd. | Net income attributable to Invesco Ltd. | 121.0 | 368.3 | 318.7 | 636.1 | Net income attributable to Invesco Ltd. | 177.4 | 330.1 | 496.1 | 966.2 | ||||||||||||||||||||||||||||||||||||
Diluted EPS | Diluted EPS | 0.26 | 0.79 | 0.69 | 1.37 | Diluted EPS | 0.39 | 0.71 | 1.08 | 2.08 | ||||||||||||||||||||||||||||||||||||
Non-GAAP Financial Measures Summary | Non-GAAP Financial Measures Summary | Non-GAAP Financial Measures Summary | ||||||||||||||||||||||||||||||||||||||||||||
Net revenues | Net revenues | 1,173.9 | 1,302.9 | 2,426.3 | 2,553.9 | Net revenues | 1,110.6 | 1,333.5 | 3,536.9 | 3,887.4 | ||||||||||||||||||||||||||||||||||||
Adjusted operating income | Adjusted operating income | 411.9 | 540.5 | 906.5 | 1,043.5 | Adjusted operating income | 369.4 | 561.6 | 1,275.9 | 1,605.1 | ||||||||||||||||||||||||||||||||||||
Adjusted operating margin | Adjusted operating margin | 35.1 | % | 41.5 | % | 37.4 | % | 40.9 | % | Adjusted operating margin | 33.3 | % | 42.1 | % | 36.1 | % | 41.3 | % | ||||||||||||||||||||||||||||
Adjusted net income attributable to Invesco Ltd. | Adjusted net income attributable to Invesco Ltd. | 180.3 | 364.7 | 439.6 | 681.3 | Adjusted net income attributable to Invesco Ltd. | 155.8 | 358.6 | 595.4 | 1,039.9 | ||||||||||||||||||||||||||||||||||||
Adjusted diluted EPS | Adjusted diluted EPS | 0.39 | 0.78 | 0.95 | 1.46 | Adjusted diluted EPS | 0.34 | 0.77 | 1.29 | 2.23 | ||||||||||||||||||||||||||||||||||||
Assets Under Management | Assets Under Management | Assets Under Management | ||||||||||||||||||||||||||||||||||||||||||||
Ending AUM (billions) | Ending AUM (billions) | 1,390.4 | 1,525.0 | 1,390.4 | 1,525.0 | Ending AUM (billions) | 1,323.3 | 1,528.6 | 1,323.3 | 1,528.6 | ||||||||||||||||||||||||||||||||||||
Average AUM (billions) | Average AUM (billions) | 1,457.2 | 1,480.2 | 1,501.2 | 1,437.7 | Average AUM (billions) | 1,416.2 | 1,540.5 | 1,472.8 | 1,471.9 |
Benchmark Comparison | Peer Group Comparison | Benchmark Comparison | Peer Group Comparison | |||||||||||||||||||||||||||||||||||||||||||||||||
% of AUM In Top Half of Benchmark | % of AUM in Top Half of Peer Group | % of AUM In Top Half of Benchmark | % of AUM in Top Half of Peer Group | |||||||||||||||||||||||||||||||||||||||||||||||||
1yr | 3yr | 5yr | 10yr | 1yr | 3yr | 5yr | 10yr | 1yr | 3yr | 5yr | 10yr | 1yr | 3yr | 5yr | 10yr | |||||||||||||||||||||||||||||||||||||
Equities (2) | Equities (2) | Equities (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Core (4%) | U.S. Core (4%) | 42 | % | 40 | % | 15 | % | 15 | % | 12 | % | 20 | % | 11 | % | — | % | U.S. Core (4%) | 42 | % | 30 | % | 16 | % | 16 | % | 21 | % | 16 | % | 15 | % | — | % | ||||||||||||||||||
U.S. Growth (6%) | U.S. Growth (6%) | 28 | % | 43 | % | 43 | % | 43 | % | 18 | % | 41 | % | 29 | % | 36 | % | U.S. Growth (6%) | 19 | % | 46 | % | 46 | % | 46 | % | 32 | % | 43 | % | 43 | % | 37 | % | ||||||||||||||||||
U.S. Value (7%) | U.S. Value (7%) | 91 | % | 59 | % | 45 | % | 52 | % | 81 | % | 41 | % | 40 | % | 38 | % | U.S. Value (7%) | 91 | % | 60 | % | 91 | % | 87 | % | 81 | % | 55 | % | 41 | % | 37 | % | ||||||||||||||||||
Sector (1%) | Sector (1%) | 1 | % | 1 | % | 1 | % | 55 | % | 30 | % | 24 | % | 56 | % | 56 | % | Sector (1%) | 8 | % | 9 | % | 2 | % | 53 | % | 52 | % | 30 | % | 23 | % | 54 | % | ||||||||||||||||||
UK (1%) | UK (1%) | 79 | % | 46 | % | 38 | % | 43 | % | 100 | % | 40 | % | 35 | % | 35 | % | UK (1%) | 56 | % | 37 | % | 39 | % | 43 | % | 98 | % | 29 | % | 37 | % | 37 | % | ||||||||||||||||||
Canadian (<1%) | Canadian (<1%) | 100 | % | 77 | % | 77 | % | 37 | % | 88 | % | 77 | % | 40 | % | — | % | Canadian (<1%) | 100 | % | 100 | % | 66 | % | 58 | % | 87 | % | 79 | % | — | % | — | % | ||||||||||||||||||
Asian (3%) | Asian (3%) | 51 | % | 78 | % | 86 | % | 90 | % | 25 | % | 27 | % | 59 | % | 85 | % | Asian (3%) | 60 | % | 78 | % | 85 | % | 91 | % | 53 | % | 38 | % | 63 | % | 87 | % | ||||||||||||||||||
Continental European (2%) | 77 | % | 29 | % | 9 | % | 92 | % | 90 | % | 33 | % | 4 | % | 91 | % | ||||||||||||||||||||||||||||||||||||
Continental European (1%) | Continental European (1%) | 76 | % | 47 | % | 7 | % | 93 | % | 85 | % | 37 | % | 19 | % | 91 | % | |||||||||||||||||||||||||||||||||||
Global (5%) | Global (5%) | 17 | % | 13 | % | 6 | % | 80 | % | 12 | % | 8 | % | — | % | 31 | % | Global (5%) | 19 | % | 14 | % | — | % | 79 | % | 14 | % | 5 | % | 1 | % | 22 | % | ||||||||||||||||||
Global Ex U.S. and Emerging Markets (9%) | 11 | % | 18 | % | 10 | % | 91 | % | 18 | % | 1 | % | 10 | % | 12 | % | ||||||||||||||||||||||||||||||||||||
Global Ex U.S. and Emerging Markets (8%) | Global Ex U.S. and Emerging Markets (8%) | 12 | % | 20 | % | 30 | % | 99 | % | 10 | % | 1 | % | 10 | % | 12 | % | |||||||||||||||||||||||||||||||||||
Fixed Income (2) | Fixed Income (2) | Fixed Income (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Money Market (23%) | 19 | % | 77 | % | 96 | % | 100 | % | 78 | % | 80 | % | 79 | % | 98 | % | ||||||||||||||||||||||||||||||||||||
U.S. Fixed Income (11%) | 31 | % | 74 | % | 83 | % | 97 | % | 27 | % | 67 | % | 82 | % | 92 | % | ||||||||||||||||||||||||||||||||||||
Money Market (26%) | Money Market (26%) | 82 | % | 96 | % | 97 | % | 100 | % | 84 | % | 82 | % | 82 | % | 98 | % | |||||||||||||||||||||||||||||||||||
U.S. Fixed Income (12%) | U.S. Fixed Income (12%) | 27 | % | 78 | % | 79 | % | 97 | % | 19 | % | 54 | % | 85 | % | 92 | % | |||||||||||||||||||||||||||||||||||
Global Fixed Income (7%) | Global Fixed Income (7%) | 49 | % | 83 | % | 78 | % | 92 | % | 66 | % | 69 | % | 74 | % | 87 | % | Global Fixed Income (7%) | 41 | % | 84 | % | 80 | % | 90 | % | 65 | % | 69 | % | 76 | % | 92 | % | ||||||||||||||||||
Stable Value (6%) | Stable Value (6%) | 100 | % | 100 | % | 100 | % | 100 | % | 97 | % | 97 | % | 97 | % | 100 | % | Stable Value (6%) | 100 | % | 100 | % | 100 | % | 100 | % | 97 | % | 97 | % | 97 | % | 100 | % | ||||||||||||||||||
Other (2) | Other (2) | Other (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Alternatives (7%) | 29 | % | 48 | % | 41 | % | 34 | % | 66 | % | 51 | % | 49 | % | 44 | % | ||||||||||||||||||||||||||||||||||||
Balanced (8%) | 41 | % | 94 | % | 65 | % | 65 | % | 37 | % | 62 | % | 87 | % | 94 | % | ||||||||||||||||||||||||||||||||||||
Alternatives (6%) | Alternatives (6%) | 22 | % | 40 | % | 30 | % | 33 | % | 62 | % | 40 | % | 49 | % | 42 | % | |||||||||||||||||||||||||||||||||||
Balanced (7%) | Balanced (7%) | 47 | % | 94 | % | 61 | % | 62 | % | 57 | % | 59 | % | 82 | % | 94 | % |
For the three months ended June 30, | For the three months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in billions | $ in billions | Total AUM | Active | Passive | Total AUM | Active | Passive | $ in billions | Total AUM | Active | Passive | Total AUM | Active | Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31 | 1,555.9 | 1,042.7 | 513.2 | 1,404.1 | 1,006.3 | 397.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30 | June 30 | 1,390.4 | 957.9 | 432.5 | 1,525.0 | 1,066.0 | 459.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 81.4 | 48.8 | 32.6 | 114.4 | 61.1 | 53.3 | Long-term inflows | 68.7 | 44.5 | 24.2 | 91.7 | 60.3 | 31.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (88.2) | (60.1) | (28.1) | (83.3) | (59.0) | (24.3) | Long-term outflows | (76.4) | (51.8) | (24.6) | (78.4) | (53.5) | (24.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | (6.8) | (11.3) | 4.5 | 31.1 | 2.1 | 29.0 | Net long-term flows | (7.7) | (7.3) | (0.4) | 13.3 | 6.8 | 6.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (2.0) | — | (2.0) | 2.5 | — | 2.5 | Net flows in non-management fee earning AUM | 1.9 | — | 1.9 | 5.5 | — | 5.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 3.5 | 3.5 | — | 19.8 | 19.8 | — | Net flows in money market funds | 10.0 | 10.0 | — | 2.6 | 2.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | (5.3) | (7.8) | 2.5 | 53.4 | 21.9 | 31.5 | Total net flows | 4.2 | 2.7 | 1.5 | 21.4 | 9.4 | 12.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 1.8 | 1.8 | — | 0.9 | 0.9 | — | Reinvested distributions | 0.9 | 0.9 | — | 0.8 | 0.8 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (142.3) | (61.6) | (80.7) | 65.6 | 35.3 | 30.3 | Market gains and losses | (55.1) | (32.0) | (23.1) | (14.6) | (13.1) | (1.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (19.7) | (17.2) | (2.5) | 1.0 | 1.6 | (0.6) | Foreign currency translation | (17.1) | (15.4) | (1.7) | (4.0) | (3.1) | (0.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30 | 1,390.4 | 957.9 | 432.5 | 1,525.0 | 1,066.0 | 459.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30 | September 30 | 1,323.3 | 914.1 | 409.2 | 1,528.6 | 1,060.0 | 468.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | Average AUM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average long-term AUM | Average long-term AUM | 1,117.2 | 829.7 | 287.5 | 1,173.9 | 921.4 | 252.5 | Average long-term AUM | 1,071.9 | 793.0 | 278.9 | 1,203.6 | 930.5 | 273.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | 1,457.2 | 989.2 | 468.0 | 1,480.2 | 1,049.1 | 431.1 | Average AUM | 1,416.2 | 961.6 | 454.6 | 1,540.5 | 1,065.6 | 474.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average QQQ AUM | Average QQQ AUM | 169.0 | N/A | 169.0 | 162.7 | N/A | 162.7 | Average QQQ AUM | 165.9 | N/A | 165.9 | 186.2 | N/A | 186.2 |
For the three months ended June 30, | For the three months ended September 30, | |||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
Revenue yield (bps) (1) | Revenue yield (bps) (1) | Revenue yield (bps) (1) | ||||||||||||||||||||
U.S. GAAP Gross revenue yield | U.S. GAAP Gross revenue yield | 44.9 | 49.2 | U.S. GAAP Gross revenue yield | 43.7 | 48.1 | ||||||||||||||||
Net revenue yield ex performance fees ex QQQ | Net revenue yield ex performance fees ex QQQ | 36.0 | 39.1 | Net revenue yield ex performance fees ex QQQ | 35.3 | 39.1 | ||||||||||||||||
Active net revenue yield ex performance fees | Active net revenue yield ex performance fees | 41.4 | 43.7 | Active net revenue yield ex performance fees | 40.6 | 44.3 | ||||||||||||||||
Passive net revenue yield ex QQQ | Passive net revenue yield ex QQQ | 18.3 | 20.9 | Passive net revenue yield ex QQQ | 17.8 | 19.7 |
For the six months ended June 30, | For the nine months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in billions | $ in billions | Total AUM | Active | Passive | Total AUM | Active | Passive | $ in billions | Total AUM | Active | Passive | Total AUM | Active | Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31 | December 31 | 1,610.9 | 1,082.5 | 528.4 | 1,349.9 | 979.3 | 370.6 | December 31 | 1,610.9 | 1,082.5 | 528.4 | 1,349.9 | 979.3 | 370.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 187.7 | 110.5 | 77.2 | 234.6 | 137.4 | 97.2 | Long-term inflows | 256.4 | 155.0 | 101.4 | 326.3 | 197.7 | 128.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (177.3) | (121.0) | (56.3) | (179.0) | (127.8) | (51.2) | Long-term outflows | (253.7) | (172.8) | (80.9) | (257.4) | (181.3) | (76.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 10.4 | (10.5) | 20.9 | 55.6 | 9.6 | 46.0 | Net long-term flows | 2.7 | (17.8) | 20.5 | 68.9 | 16.4 | 52.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (3.0) | — | (3.0) | 2.6 | — | 2.6 | Net flows in non-management fee earning AUM | (1.1) | — | (1.1) | 8.1 | — | 8.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 16.3 | 16.3 | — | 27.1 | 27.1 | — | Net flows in money market funds | 26.3 | 26.3 | — | 29.7 | 29.7 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 23.7 | 5.8 | 17.9 | 85.3 | 36.7 | 48.6 | Total net flows | 27.9 | 8.5 | 19.4 | 106.7 | 46.1 | 60.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 2.6 | 2.6 | — | 1.8 | 1.8 | — | Reinvested distributions | 3.5 | 3.5 | — | 2.6 | 2.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (223.2) | (111.6) | (111.6) | 90.2 | 49.5 | 40.7 | Market gains and losses | (278.3) | (143.6) | (134.7) | 75.6 | 36.4 | 39.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (23.6) | (21.4) | (2.2) | (2.2) | (1.3) | (0.9) | Foreign currency translation | (40.7) | (36.8) | (3.9) | (6.2) | (4.4) | (1.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30 | 1,390.4 | 957.9 | 432.5 | 1,525.0 | 1,066.0 | 459.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30 | September 30 | 1,323.3 | 914.1 | 409.2 | 1,528.6 | 1,060.0 | 468.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | Average AUM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average long-term AUM | Average long-term AUM | 1,152.4 | 862.6 | 289.8 | 1,142.1 | 907.1 | 235.0 | Average long-term AUM | 1,125.6 | 839.4 | 286.2 | 1,162.6 | 914.9 | 247.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | 1,501.2 | 1,019.6 | 481.6 | 1,437.7 | 1,028.8 | 408.9 | Average AUM | 1,472.8 | 1,000.3 | 472.5 | 1,471.9 | 1,041.0 | 430.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average QQQ AUM | Average QQQ AUM | 179.0 | N/A | 179.0 | 157.9 | N/A | 157.9 | Average QQQ AUM | 174.6 | N/A | 174.6 | 167.3 | N/A | 167.3 |
For the six months ended June 30, | For the nine months ended September 30, | |||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
Revenue yield (bps) (1) | Revenue yield (bps) (1) | Revenue yield (bps) (1) | ||||||||||||||||||||
U.S. GAAP Gross revenue yield | U.S. GAAP Gross revenue yield | 45.0 | 49.8 | U.S. GAAP Gross revenue yield | 44.6 | 49.2 | ||||||||||||||||
Net revenue yield ex performance fees ex QQQ | Net revenue yield ex performance fees ex QQQ | 36.3 | 39.6 | Net revenue yield ex performance fees ex QQQ | 36.0 | 39.4 | ||||||||||||||||
Active net revenue yield ex performance fees | Active net revenue yield ex performance fees | 41.7 | 44.1 | Active net revenue yield ex performance fees | 41.3 | 44.2 | ||||||||||||||||
Passive net revenue yield ex QQQ | Passive net revenue yield ex QQQ | 18.3 | 20.8 | Passive net revenue yield ex QQQ | 18.2 | 20.4 |
$ in billions | $ in billions | Total | Retail | Institutional | $ in billions | Total | Retail | Institutional | ||||||||||||||||||||||||||
March 31, 2022 | 1,555.9 | 1,044.7 | 511.2 | |||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | 1,390.4 | 898.8 | 491.6 | ||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 81.4 | 62.4 | 19.0 | Long-term inflows | 68.7 | 47.3 | 21.4 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (88.2) | (70.7) | (17.5) | Long-term outflows | (76.4) | (58.9) | (17.5) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | (6.8) | (8.3) | 1.5 | Net long-term flows | (7.7) | (11.6) | 3.9 | ||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (2.0) | 0.2 | (2.2) | Net flows in non-management fee earning AUM | 1.9 | 1.8 | 0.1 | ||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 3.5 | 0.4 | 3.1 | Net flows in money market funds | 10.0 | (1.0) | 11.0 | ||||||||||||||||||||||||||
Total net flows | Total net flows | (5.3) | (7.7) | 2.4 | Total net flows | 4.2 | (10.8) | 15.0 | ||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 1.8 | 1.7 | 0.1 | Reinvested distributions | 0.9 | 0.8 | 0.1 | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (142.3) | (132.6) | (9.7) | Market gains and losses | (55.1) | (47.4) | (7.7) | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (19.7) | (7.3) | (12.4) | Foreign currency translation | (17.1) | (7.4) | (9.7) | ||||||||||||||||||||||||||
June 30, 2022 | 1,390.4 | 898.8 | 491.6 | |||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 1,323.3 | 834.0 | 489.3 | ||||||||||||||||||||||||||||||
March 31, 2021 | 1,404.1 | 989.7 | 414.4 | |||||||||||||||||||||||||||||||
June 30, 2021 | June 30, 2021 | 1,525.0 | 1,060.7 | 464.3 | ||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 114.4 | 74.7 | 39.7 | Long-term inflows | 91.7 | 62.3 | 29.4 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (83.3) | (65.2) | (18.1) | Long-term outflows | (78.4) | (60.5) | (17.9) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 31.1 | 9.5 | 21.6 | Net long-term flows | 13.3 | 1.8 | 11.5 | ||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | 2.5 | 3.2 | (0.7) | Net flows in non-management fee earning AUM | 5.5 | 5.7 | (0.2) | ||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 19.8 | (1.0) | 20.8 | Net flows in money market funds | 2.6 | (0.4) | 3.0 | ||||||||||||||||||||||||||
Total net flows | Total net flows | 53.4 | 11.7 | 41.7 | Total net flows | 21.4 | 7.1 | 14.3 | ||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 0.9 | 0.8 | 0.1 | Reinvested distributions | 0.8 | 0.8 | — | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 65.6 | 57.3 | 8.3 | Market gains and losses | (14.6) | (15.5) | 0.9 | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | 1.0 | 1.2 | (0.2) | Foreign currency translation | (4.0) | (1.5) | (2.5) | ||||||||||||||||||||||||||
June 30, 2021 | 1,525.0 | 1,060.7 | 464.3 | |||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 1,528.6 | 1,051.6 | 477.0 |
$ in billions | $ in billions | Total | Retail | Institutional | $ in billions | Total | Retail | Institutional | ||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | 1,610.9 | 1,106.5 | 504.4 | December 31, 2021 | 1,610.9 | 1,106.5 | 504.4 | ||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 187.7 | 143.5 | 44.2 | Long-term inflows | 256.4 | 190.8 | 65.6 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (177.3) | (141.4) | (35.9) | Long-term outflows | (253.7) | (200.3) | (53.4) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 10.4 | 2.1 | 8.3 | Net long-term flows | 2.7 | (9.5) | 12.2 | ||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (3.0) | 0.6 | (3.6) | Net flows in non-management fee earning AUM | (1.1) | 2.4 | (3.5) | ||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 16.3 | 2.5 | 13.8 | Net flows in money market funds | 26.3 | 1.5 | 24.8 | ||||||||||||||||||||||||||
Total net flows | Total net flows | 23.7 | 5.2 | 18.5 | Total net flows | 27.9 | (5.6) | 33.5 | ||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 2.6 | 2.4 | 0.2 | Reinvested distributions | 3.5 | 3.2 | 0.3 | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (223.2) | (206.9) | (16.3) | Market gains and losses | (278.3) | (254.3) | (24.0) | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (23.6) | (8.4) | (15.2) | Foreign currency translation | (40.7) | (15.8) | (24.9) | ||||||||||||||||||||||||||
June 30, 2022 | 1,390.4 | 898.8 | 491.6 | |||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 1,323.3 | 834.0 | 489.3 | ||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | 1,349.9 | 947.1 | 402.8 | December 31, 2020 | 1,349.9 | 947.1 | 402.8 | ||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 234.6 | 169.7 | 64.9 | Long-term inflows | 326.3 | 232.0 | 94.3 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (179.0) | (139.0) | (40.0) | Long-term outflows | (257.4) | (199.5) | (57.9) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 55.6 | 30.7 | 24.9 | Net long-term flows | 68.9 | 32.5 | 36.4 | ||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | 2.6 | 1.8 | 0.8 | Net flows in non-management fee earning AUM | 8.1 | 7.5 | 0.6 | ||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 27.1 | 4.0 | 23.1 | Net flows in money market funds | 29.7 | 3.6 | 26.1 | ||||||||||||||||||||||||||
Total net flows | Total net flows | 85.3 | 36.5 | 48.8 | Total net flows | 106.7 | 43.6 | 63.1 | ||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 1.8 | 1.6 | 0.2 | Reinvested distributions | 2.6 | 2.4 | 0.2 | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 90.2 | 74.5 | 15.7 | Market gains and losses | 75.6 | 59.0 | 16.6 | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (2.2) | 1.0 | (3.2) | Foreign currency translation | (6.2) | (0.5) | (5.7) | ||||||||||||||||||||||||||
June 30, 2021 | 1,525.0 | 1,060.7 | 464.3 | |||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 1,528.6 | 1,051.6 | 477.0 |
$ in billions | $ in billions | Total | Retail | Institutional | $ in billions | Total | Retail | Institutional | ||||||||||||||||||||||||||
March 31, 2022 | 1,042.7 | 581.9 | 460.8 | |||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | 957.9 | 509.0 | 448.9 | ||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 48.8 | 30.9 | 17.9 | Long-term inflows | 44.5 | 23.6 | 20.9 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (60.1) | (43.8) | (16.3) | Long-term outflows | (51.8) | (35.8) | (16.0) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | (11.3) | (12.9) | 1.6 | Net long-term flows | (7.3) | (12.2) | 4.9 | ||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 3.5 | 0.4 | 3.1 | Net flows in money market funds | 10.0 | (1.0) | 11.0 | ||||||||||||||||||||||||||
Total net flows | Total net flows | (7.8) | (12.5) | 4.7 | Total net flows | 2.7 | (13.2) | 15.9 | ||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 1.8 | 1.7 | 0.1 | Reinvested distributions | 0.9 | 0.8 | 0.1 | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (61.6) | (55.5) | (6.1) | Market gains and losses | (32.0) | (27.1) | (4.9) | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (17.2) | (6.6) | (10.6) | Foreign currency translation | (15.4) | (6.7) | (8.7) | ||||||||||||||||||||||||||
June 30, 2022 | 957.9 | 509.0 | 448.9 | |||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 914.1 | 462.8 | 451.3 | ||||||||||||||||||||||||||||||
March 31, 2021 | 1,006.3 | 620.4 | 385.9 | |||||||||||||||||||||||||||||||
June 30, 2021 | June 30, 2021 | 1,066.0 | 649.3 | 416.7 | ||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 61.1 | 40.0 | 21.1 | Long-term inflows | 60.3 | 35.5 | 24.8 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (59.0) | (41.5) | (17.5) | Long-term outflows | (53.5) | (37.9) | (15.6) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 2.1 | (1.5) | 3.6 | Net long-term flows | 6.8 | (2.4) | 9.2 | ||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 19.8 | (1.0) | 20.8 | Net flows in money market funds | 2.6 | (0.4) | 3.0 | ||||||||||||||||||||||||||
Total net flows | Total net flows | 21.9 | (2.5) | 24.4 | Total net flows | 9.4 | (2.8) | 12.2 | ||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 0.9 | 0.8 | 0.1 | Reinvested distributions | 0.8 | 0.8 | — | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 35.3 | 29.4 | 5.9 | Market gains and losses | (13.1) | (13.8) | 0.7 | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | 1.6 | 1.2 | 0.4 | Foreign currency translation | (3.1) | (1.3) | (1.8) | ||||||||||||||||||||||||||
June 30, 2021 | 1,066.0 | 649.3 | 416.7 | |||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 1,060.0 | 632.2 | 427.8 |
$ in billions | $ in billions | Total | Retail | Institutional | $ in billions | Total | Retail | Institutional | ||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | 1,082.5 | 631.7 | 450.8 | December 31, 2021 | 1,082.5 | 631.7 | 450.8 | ||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 110.5 | 68.0 | 42.5 | Long-term inflows | 155.0 | 91.6 | 63.4 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (121.0) | (87.2) | (33.8) | Long-term outflows | (172.8) | (123.0) | (49.8) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | (10.5) | (19.2) | 8.7 | Net long-term flows | (17.8) | (31.4) | 13.6 | ||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 16.3 | 2.5 | 13.8 | Net flows in money market funds | 26.3 | 1.5 | 24.8 | ||||||||||||||||||||||||||
Total net flows | Total net flows | 5.8 | (16.7) | 22.5 | Total net flows | 8.5 | (29.9) | 38.4 | ||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 2.6 | 2.4 | 0.2 | Reinvested distributions | 3.5 | 3.2 | 0.3 | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (111.6) | (100.9) | (10.7) | Market gains and losses | (143.6) | (128.0) | (15.6) | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (21.4) | (7.5) | (13.9) | Foreign currency translation | (36.8) | (14.2) | (22.6) | ||||||||||||||||||||||||||
June 30, 2022 | 957.9 | 509.0 | 448.9 | |||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 914.1 | 462.8 | 451.3 | ||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | 979.3 | 601.1 | 378.2 | December 31, 2020 | 979.3 | 601.1 | 378.2 | ||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 137.4 | 93.8 | 43.6 | Long-term inflows | 197.7 | 129.3 | 68.4 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (127.8) | (89.9) | (37.9) | Long-term outflows | (181.3) | (127.8) | (53.5) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 9.6 | 3.9 | 5.7 | Net long-term flows | 16.4 | 1.5 | 14.9 | ||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 27.1 | 4.0 | 23.1 | Net flows in money market funds | 29.7 | 3.6 | 26.1 | ||||||||||||||||||||||||||
Total net flows | Total net flows | 36.7 | 7.9 | 28.8 | Total net flows | 46.1 | 5.1 | 41.0 | ||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 1.8 | 1.6 | 0.2 | Reinvested distributions | 2.6 | 2.4 | 0.2 | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 49.5 | 37.5 | 12.0 | Market gains and losses | 36.4 | 23.7 | 12.7 | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (1.3) | 1.2 | (2.5) | Foreign currency translation | (4.4) | (0.1) | (4.3) | ||||||||||||||||||||||||||
June 30, 2021 | 1,066.0 | 649.3 | 416.7 | |||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 1,060.0 | 632.2 | 427.8 |
$ in billions | $ in billions | Total | Retail | Institutional | $ in billions | Total | Retail | Institutional | ||||||||||||||||||||||||||
March 31, 2022 | 513.2 | 462.8 | 50.4 | |||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | 432.5 | 389.8 | 42.7 | ||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 32.6 | 31.5 | 1.1 | Long-term inflows | 24.2 | 23.7 | 0.5 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (28.1) | (26.9) | (1.2) | Long-term outflows | (24.6) | (23.1) | (1.5) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 4.5 | 4.6 | (0.1) | Net long-term flows | (0.4) | 0.6 | (1.0) | ||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (2.0) | 0.2 | (2.2) | Net flows in non-management fee earning AUM | 1.9 | 1.8 | 0.1 | ||||||||||||||||||||||||||
Total net flows | Total net flows | 2.5 | 4.8 | (2.3) | Total net flows | 1.5 | 2.4 | (0.9) | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (80.7) | (77.1) | (3.6) | Market gains and losses | (23.1) | (20.3) | (2.8) | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (2.5) | (0.7) | (1.8) | Foreign currency translation | (1.7) | (0.7) | (1.0) | ||||||||||||||||||||||||||
June 30, 2022 | 432.5 | 389.8 | 42.7 | |||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 409.2 | 371.2 | 38.0 | ||||||||||||||||||||||||||||||
March 31, 2021 | 397.8 | 369.3 | 28.5 | |||||||||||||||||||||||||||||||
June 30, 2021 | June 30, 2021 | 459.0 | 411.4 | 47.6 | ||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 53.3 | 34.7 | 18.6 | Long-term inflows | 31.4 | 26.8 | 4.6 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (24.3) | (23.7) | (0.6) | Long-term outflows | (24.9) | (22.6) | (2.3) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 29.0 | 11.0 | 18.0 | Net long-term flows | 6.5 | 4.2 | 2.3 | ||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | 2.5 | 3.2 | (0.7) | Net flows in non-management fee earning AUM | 5.5 | 5.7 | (0.2) | ||||||||||||||||||||||||||
Total net flows | Total net flows | 31.5 | 14.2 | 17.3 | Total net flows | 12.0 | 9.9 | 2.1 | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 30.3 | 27.9 | 2.4 | Market gains and losses | (1.5) | (1.7) | 0.2 | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (0.6) | — | (0.6) | Foreign currency translation | (0.9) | (0.2) | (0.7) | ||||||||||||||||||||||||||
June 30, 2021 | 459.0 | 411.4 | 47.6 | |||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 468.6 | 419.4 | 49.2 |
$ in billions | $ in billions | Total | Retail | Institutional | $ in billions | Total | Retail | Institutional | ||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | 528.4 | 474.8 | 53.6 | December 31, 2021 | 528.4 | 474.8 | 53.6 | ||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 77.2 | 75.5 | 1.7 | Long-term inflows | 101.4 | 99.2 | 2.2 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (56.3) | (54.2) | (2.1) | Long-term outflows | (80.9) | (77.3) | (3.6) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 20.9 | 21.3 | (0.4) | Net long-term flows | 20.5 | 21.9 | (1.4) | ||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (3.0) | 0.6 | (3.6) | Net flows in non-management fee earning AUM | (1.1) | 2.4 | (3.5) | ||||||||||||||||||||||||||
Total net flows | Total net flows | 17.9 | 21.9 | (4.0) | Total net flows | 19.4 | 24.3 | (4.9) | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (111.6) | (106.0) | (5.6) | Market gains and losses | (134.7) | (126.3) | (8.4) | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (2.2) | (0.9) | (1.3) | Foreign currency translation | (3.9) | (1.6) | (2.3) | ||||||||||||||||||||||||||
June 30, 2022 | 432.5 | 389.8 | 42.7 | |||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 409.2 | 371.2 | 38.0 | ||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | 370.6 | 346.0 | 24.6 | December 31, 2020 | 370.6 | 346.0 | 24.6 | ||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 97.2 | 75.9 | 21.3 | Long-term inflows | 128.6 | 102.7 | 25.9 | ||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (51.2) | (49.1) | (2.1) | Long-term outflows | (76.1) | (71.7) | (4.4) | ||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 46.0 | 26.8 | 19.2 | Net long-term flows | 52.5 | 31.0 | 21.5 | ||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | 2.6 | 1.8 | 0.8 | Net flows in non-management fee earning AUM | 8.1 | 7.5 | 0.6 | ||||||||||||||||||||||||||
Total net flows | Total net flows | 48.6 | 28.6 | 20.0 | Total net flows | 60.6 | 38.5 | 22.1 | ||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 40.7 | 37.0 | 3.7 | Market gains and losses | 39.2 | 35.3 | 3.9 | ||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (0.9) | (0.2) | (0.7) | Foreign currency translation | (1.8) | (0.4) | (1.4) | ||||||||||||||||||||||||||
June 30, 2021 | 459.0 | 411.4 | 47.6 | |||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 468.6 | 419.4 | 49.2 |
$ in billions | $ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | $ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2022 | 1,555.9 | 780.0 | 323.9 | 79.5 | 162.0 | 210.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | 1,390.4 | 644.8 | 309.1 | 72.9 | 164.0 | 199.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 81.4 | 35.9 | 29.1 | 3.1 | — | 13.3 | Long-term inflows | 68.7 | 25.0 | 30.4 | 3.2 | — | 10.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (88.2) | (43.6) | (24.3) | (5.4) | — | (14.9) | Long-term outflows | (76.4) | (32.4) | (23.9) | (4.7) | — | (15.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | (6.8) | (7.7) | 4.8 | (2.3) | — | (1.6) | Net long-term flows | (7.7) | (7.4) | 6.5 | (1.5) | — | (5.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (2.0) | 0.2 | (2.2) | — | — | — | Net flows in non-management fee earning AUM | 1.9 | 1.8 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 3.5 | — | — | — | 3.5 | — | Net flows in money market funds | 10.0 | — | 0.3 | — | 9.7 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | (5.3) | (7.5) | 2.6 | (2.3) | 3.5 | (1.6) | Total net flows | 4.2 | (5.6) | 6.9 | (1.5) | 9.7 | (5.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 1.8 | 1.0 | 0.4 | 0.1 | — | 0.3 | Reinvested distributions | 0.9 | 0.2 | 0.4 | 0.1 | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (142.3) | (121.9) | (11.6) | (1.8) | 0.6 | (7.6) | Market gains and losses | (55.1) | (36.1) | (7.0) | (5.2) | 0.2 | (7.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (19.7) | (6.8) | (6.2) | (2.6) | (2.1) | (2.0) | Foreign currency translation | (17.1) | (5.8) | (5.1) | (2.7) | (1.8) | (1.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 1,390.4 | 644.8 | 309.1 | 72.9 | 164.0 | 199.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 1,323.3 | 597.5 | 304.3 | 63.6 | 172.1 | 185.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | 1,457.2 | 701.9 | 313.4 | 74.0 | 159.7 | 208.2 | Average AUM | 1,416.2 | 669.5 | 311.4 | 69.9 | 168.8 | 196.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
% of total average AUM | % of total average AUM | 100.0 | % | 48.2 | % | 21.5 | % | 5.0 | % | 11.0 | % | 14.3 | % | % of total average AUM | 100.0 | % | 47.3 | % | 22.0 | % | 4.9 | % | 11.9 | % | 13.9 | % | ||||||||||||||||||||||||||||||||||||||||||||
March 31, 2021 | 1,404.1 | 725.0 | 301.6 | 85.2 | 115.7 | 176.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | June 30, 2021 | 1,525.0 | 795.5 | 317.6 | 88.5 | 135.7 | 187.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 114.4 | 58.8 | 30.9 | 10.2 | — | 14.5 | Long-term inflows | 91.7 | 41.8 | 27.3 | 9.5 | — | 13.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (83.3) | (43.8) | (17.3) | (12.0) | — | (10.2) | Long-term outflows | (78.4) | (42.8) | (16.3) | (8.5) | — | (10.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 31.1 | 15.0 | 13.6 | (1.8) | — | 4.3 | Net long-term flows | 13.3 | (1.0) | 11.0 | 1.0 | — | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | 2.5 | 3.3 | (0.8) | — | — | — | Net flows in non-management fee earning AUM | 5.5 | 5.8 | (0.3) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 19.8 | — | — | — | 19.8 | — | Net flows in money market funds | 2.6 | — | — | — | 2.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 53.4 | 18.3 | 12.8 | (1.8) | 19.8 | 4.3 | Total net flows | 21.4 | 4.8 | 10.7 | 1.0 | 2.6 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 0.9 | 0.2 | 0.4 | 0.1 | — | 0.2 | Reinvested distributions | 0.8 | 0.2 | 0.3 | 0.1 | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 65.6 | 52.1 | 2.8 | 4.4 | (0.2) | 6.5 | Market gains and losses | (14.6) | (12.1) | (1.0) | (3.7) | 0.3 | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | 1.0 | (0.1) | — | 0.6 | 0.4 | 0.1 | Foreign currency translation | (4.0) | (2.1) | (0.7) | (0.4) | (0.1) | (0.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 1,525.0 | 795.5 | 317.6 | 88.5 | 135.7 | 187.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 1,528.6 | 786.3 | 326.9 | 85.5 | 138.5 | 191.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | 1,480.2 | 767.3 | 311.3 | 88.0 | 127.7 | 185.9 | Average AUM | 1,540.5 | 805.8 | 322.6 | 85.7 | 135.2 | 191.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
% of total average AUM | % of total average AUM | 100.0 | % | 51.8 | % | 21.0 | % | 6.0 | % | 8.6 | % | 12.6 | % | % of total average AUM | 100.0 | % | 52.3 | % | 20.9 | % | 5.6 | % | 8.8 | % | 12.4 | % |
$ in billions | $ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | $ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | 1,610.9 | 841.6 | 334.8 | 88.6 | 148.8 | 197.1 | December 31, 2021 | 1,610.9 | 841.6 | 334.8 | 88.6 | 148.8 | 197.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 187.7 | 86.5 | 58.5 | 8.6 | — | 34.1 | Long-term inflows | 256.4 | 111.5 | 88.9 | 11.8 | — | 44.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (177.3) | (88.6) | (48.9) | (11.7) | — | (28.1) | Long-term outflows | (253.7) | (121.0) | (72.8) | (16.4) | — | (43.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 10.4 | (2.1) | 9.6 | (3.1) | — | 6.0 | Net long-term flows | 2.7 | (9.5) | 16.1 | (4.6) | — | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (3.0) | 0.6 | (3.6) | — | — | — | Net flows in non-management fee earning AUM | (1.1) | 2.4 | (3.5) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 16.3 | — | — | — | 16.3 | — | Net flows in money market funds | 26.3 | — | 0.3 | — | 26.0 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 23.7 | (1.5) | 6.0 | (3.1) | 16.3 | 6.0 | Total net flows | 27.9 | (7.1) | 12.9 | (4.6) | 26.0 | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 2.6 | 1.2 | 0.7 | 0.2 | — | 0.5 | Reinvested distributions | 3.5 | 1.4 | 1.1 | 0.3 | — | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (223.2) | (188.4) | (24.3) | (10.1) | 1.0 | (1.4) | Market gains and losses | (278.3) | (224.5) | (31.3) | (15.3) | 1.2 | (8.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (23.6) | (8.1) | (8.1) | (2.7) | (2.1) | (2.6) | Foreign currency translation | (40.7) | (13.9) | (13.2) | (5.4) | (3.9) | (4.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 1,390.4 | 644.8 | 309.1 | 72.9 | 164.0 | 199.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 1,323.3 | 597.5 | 304.3 | 63.6 | 172.1 | 185.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | 1,501.2 | 739.3 | 320.6 | 78.8 | 157.1 | 205.4 | Average AUM | 1,472.8 | 716.0 | 317.5 | 75.8 | 161.0 | 202.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
% of total average AUM | % of total average AUM | 100.0 | % | 49.2 | % | 21.4 | % | 5.2 | % | 10.5 | % | 13.7 | % | % of total average AUM | 100.0 | % | 48.6 | % | 21.6 | % | 5.2 | % | 10.9 | % | 13.7 | % | ||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | 1,349.9 | 689.6 | 296.4 | 78.9 | 108.5 | 176.5 | December 31, 2020 | 1,349.9 | 689.6 | 296.4 | 78.9 | 108.5 | 176.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 234.6 | 116.8 | 59.2 | 31.4 | — | 27.2 | Long-term inflows | 326.3 | 158.6 | 86.5 | 40.9 | — | 40.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (179.0) | (92.0) | (38.0) | (25.9) | — | (23.1) | Long-term outflows | (257.4) | (134.8) | (54.3) | (34.4) | — | (33.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 55.6 | 24.8 | 21.2 | 5.5 | — | 4.1 | Net long-term flows | 68.9 | 23.8 | 32.2 | 6.5 | — | 6.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | 2.6 | 2.0 | 0.6 | — | — | — | Net flows in non-management fee earning AUM | 8.1 | 7.8 | 0.3 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 27.1 | — | — | — | 27.1 | — | Net flows in money market funds | 29.7 | — | — | — | 29.7 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 85.3 | 26.8 | 21.8 | 5.5 | 27.1 | 4.1 | Total net flows | 106.7 | 31.6 | 32.5 | 6.5 | 29.7 | 6.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 1.8 | 0.4 | 0.8 | 0.2 | — | 0.4 | Reinvested distributions | 2.6 | 0.6 | 1.1 | 0.3 | — | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 90.2 | 79.4 | 0.1 | 3.5 | (0.2) | 7.4 | Market gains and losses | 75.6 | 67.3 | (0.9) | (0.2) | 0.1 | 9.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (2.2) | (0.7) | (1.5) | 0.4 | 0.3 | (0.7) | Foreign currency translation | (6.2) | (2.8) | (2.2) | — | 0.2 | (1.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 1,525.0 | 795.5 | 317.6 | 88.5 | 135.7 | 187.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 1,528.6 | 786.3 | 326.9 | 85.5 | 138.5 | 191.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | 1,437.7 | 740.8 | 305.9 | 86.8 | 121.8 | 182.4 | Average AUM | 1,471.9 | 762.5 | 311.5 | 86.4 | 126.2 | 185.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
% of total average AUM | % of total average AUM | 100.0 | % | 51.5 | % | 21.3 | % | 6.0 | % | 8.5 | % | 12.7 | % | % of total average AUM | 100.0 | % | 51.8 | % | 21.1 | % | 5.9 | % | 8.6 | % | 12.6 | % |
$ in billions | $ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | $ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2022 | 1,042.7 | 347.9 | 283.3 | 78.5 | 162.0 | 171.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | 957.9 | 287.5 | 270.6 | 72.0 | 164.0 | 163.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 48.8 | 13.7 | 23.8 | 3.1 | — | 8.2 | Long-term inflows | 44.5 | 10.4 | 25.2 | 3.2 | — | 5.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (60.1) | (24.5) | (21.6) | (5.4) | — | (8.6) | Long-term outflows | (51.8) | (16.9) | (21.5) | (4.7) | — | (8.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | (11.3) | (10.8) | 2.2 | (2.3) | — | (0.4) | Net long-term flows | (7.3) | (6.5) | 3.7 | (1.5) | — | (3.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 3.5 | — | — | — | 3.5 | — | Net flows in money market funds | 10.0 | — | 0.3 | — | 9.7 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | (7.8) | (10.8) | 2.2 | (2.3) | 3.5 | (0.4) | Total net flows | 2.7 | (6.5) | 4.0 | (1.5) | 9.7 | (3.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 1.8 | 1.0 | 0.4 | 0.1 | — | 0.3 | Reinvested distributions | 0.9 | 0.2 | 0.4 | 0.1 | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (61.6) | (45.5) | (9.6) | (1.7) | 0.6 | (5.4) | Market gains and losses | (32.0) | (16.5) | (5.6) | (5.1) | 0.2 | (5.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (17.2) | (5.1) | (5.7) | (2.6) | (2.1) | (1.7) | Foreign currency translation | (15.4) | (4.7) | (4.7) | (2.7) | (1.8) | (1.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 957.9 | 287.5 | 270.6 | 72.0 | 164.0 | 163.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 914.1 | 260.0 | 264.7 | 62.8 | 172.1 | 154.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | 989.2 | 313.1 | 274.4 | 73.1 | 159.7 | 168.9 | Average AUM | 961.6 | 290.7 | 271.7 | 69.0 | 168.8 | 161.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
% of total average AUM | % of total average AUM | 100.0 | % | 31.7 | % | 27.7 | % | 7.4 | % | 16.1 | % | 17.1 | % | % of total average AUM | 100.0 | % | 30.2 | % | 28.3 | % | 7.1 | % | 17.6 | % | 16.8 | % | ||||||||||||||||||||||||||||||||||||||||||||
March 31, 2021 | 1,006.3 | 393.4 | 262.9 | 84.2 | 115.7 | 150.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | June 30, 2021 | 1,066.0 | 412.0 | 274.6 | 87.4 | 135.7 | 156.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 61.1 | 17.3 | 24.7 | 10.1 | — | 9.0 | Long-term inflows | 60.3 | 16.0 | 25.0 | 9.5 | — | 9.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (59.0) | (22.9) | (15.9) | (12.0) | — | (8.2) | Long-term outflows | (53.5) | (23.0) | (14.0) | (8.5) | — | (8.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 2.1 | (5.6) | 8.8 | (1.9) | — | 0.8 | Net long-term flows | 6.8 | (7.0) | 11.0 | 1.0 | — | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | — | — | (0.1) | 0.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 19.8 | — | — | — | 19.8 | — | Net flows in money market funds | 2.6 | — | — | — | 2.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 21.9 | (5.6) | 8.7 | (1.8) | 19.8 | 0.8 | Total net flows | 9.4 | (7.0) | 11.0 | 1.0 | 2.6 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 0.9 | 0.2 | 0.4 | 0.1 | — | 0.2 | Reinvested distributions | 0.8 | 0.2 | 0.3 | 0.1 | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 35.3 | 23.7 | 2.5 | 4.3 | (0.2) | 5.0 | Market gains and losses | (13.1) | (10.8) | (0.7) | (3.7) | 0.3 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | 1.6 | 0.3 | 0.1 | 0.6 | 0.4 | 0.2 | Foreign currency translation | (3.1) | (1.5) | (0.5) | (0.4) | (0.1) | (0.6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 1,066.0 | 412.0 | 274.6 | 87.4 | 135.7 | 156.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 1,060.0 | 392.9 | 284.7 | 84.4 | 138.5 | 159.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | 1,049.1 | 408.5 | 270.2 | 86.9 | 127.7 | 155.8 | Average AUM | 1,065.6 | 406.4 | 280.0 | 84.6 | 135.2 | 159.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
% of total average AUM | % of total average AUM | 100.0 | % | 38.9 | % | 25.8 | % | 8.2 | % | 12.2 | % | 14.9 | % | % of total average AUM | 100.0 | % | 38.1 | % | 26.3 | % | 7.9 | % | 12.7 | % | 15.0 | % |
$ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | |||||||||||||||||||||||||||||
December 31, 2021 | 1,082.5 | 389.6 | 293.1 | 87.4 | 148.8 | 163.6 | |||||||||||||||||||||||||||||
Long-term inflows | 155.0 | 43.2 | 73.5 | 11.8 | — | 26.5 | |||||||||||||||||||||||||||||
Long-term outflows | (172.8) | (65.6) | (65.1) | (16.3) | — | (25.8) | |||||||||||||||||||||||||||||
Net long-term flows | (17.8) | (22.4) | 8.4 | (4.5) | — | 0.7 | |||||||||||||||||||||||||||||
Net flows in money market funds | 26.3 | — | 0.3 | — | 26.0 | — | |||||||||||||||||||||||||||||
Total net flows | 8.5 | (22.4) | 8.7 | (4.5) | 26.0 | 0.7 | |||||||||||||||||||||||||||||
Reinvested distributions | 3.5 | 1.4 | 1.1 | 0.3 | — | 0.7 | |||||||||||||||||||||||||||||
Market gains and losses | (143.6) | (97.2) | (25.9) | (15.0) | 1.2 | (6.7) | |||||||||||||||||||||||||||||
Foreign currency translation | (36.8) | (11.4) | (12.3) | (5.4) | (3.9) | (3.8) | |||||||||||||||||||||||||||||
September 30, 2022 | 914.1 | 260.0 | 264.7 | 62.8 | 172.1 | 154.5 | |||||||||||||||||||||||||||||
Average AUM | 1,000.3 | 320.8 | 277.7 | 75.0 | 161.0 | 165.8 | |||||||||||||||||||||||||||||
% of total average AUM | 100.0 | % | 32.1 | % | 27.8 | % | 7.4 | % | 16.1 | % | 16.6 | % | |||||||||||||||||||||||
December 31, 2020 | 979.3 | 383.2 | 259.4 | 77.9 | 108.5 | 150.3 | |||||||||||||||||||||||||||||
Long-term inflows | 197.7 | 55.9 | 74.8 | 40.8 | — | 26.2 | |||||||||||||||||||||||||||||
Long-term outflows | (181.3) | (73.0) | (48.5) | (34.4) | — | (25.4) | |||||||||||||||||||||||||||||
Net long-term flows | 16.4 | (17.1) | 26.3 | 6.4 | — | 0.8 | |||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | — | — | (0.1) | 0.1 | — | — | |||||||||||||||||||||||||||||
Net flows in money market funds | 29.7 | — | — | — | 29.7 | — | |||||||||||||||||||||||||||||
Total net flows | 46.1 | (17.1) | 26.2 | 6.5 | 29.7 | 0.8 | |||||||||||||||||||||||||||||
Reinvested distributions | 2.6 | 0.6 | 1.1 | 0.3 | — | 0.6 | |||||||||||||||||||||||||||||
Market gains and losses | 36.4 | 27.9 | (0.2) | (0.3) | 0.1 | 8.9 | |||||||||||||||||||||||||||||
Foreign currency translation | (4.4) | (1.7) | (1.8) | — | 0.2 | (1.1) | |||||||||||||||||||||||||||||
September 30, 2021 | 1,060.0 | 392.9 | 284.7 | 84.4 | 138.5 | 159.5 | |||||||||||||||||||||||||||||
Average AUM | 1,041.0 | 403.1 | 270.9 | 85.3 | 126.2 | 155.5 | |||||||||||||||||||||||||||||
% of total average AUM | 100.0 | % | 38.7 | % | 26.0 | % | 8.3 | % | 12.1 | % | 14.9 | % |
$ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | |||||||||||||||||||||||||||||
December 31, 2021 | 1,082.5 | 389.6 | 293.1 | 87.4 | 148.8 | 163.6 | |||||||||||||||||||||||||||||
Long-term inflows | 110.5 | 32.8 | 48.3 | 8.6 | — | 20.8 | |||||||||||||||||||||||||||||
Long-term outflows | (121.0) | (48.7) | (43.6) | (11.6) | — | (17.1) | |||||||||||||||||||||||||||||
Net long-term flows | (10.5) | (15.9) | 4.7 | (3.0) | — | 3.7 | |||||||||||||||||||||||||||||
Net flows in money market funds | 16.3 | — | — | — | 16.3 | — | |||||||||||||||||||||||||||||
Total net flows | 5.8 | (15.9) | 4.7 | (3.0) | 16.3 | 3.7 | |||||||||||||||||||||||||||||
Reinvested distributions | 2.6 | 1.2 | 0.7 | 0.2 | — | 0.5 | |||||||||||||||||||||||||||||
Market gains and losses | (111.6) | (80.7) | (20.3) | (9.9) | 1.0 | (1.7) | |||||||||||||||||||||||||||||
Foreign currency translation | (21.4) | (6.7) | (7.6) | (2.7) | (2.1) | (2.3) | |||||||||||||||||||||||||||||
June 30, 2022 | 957.9 | 287.5 | 270.6 | 72.0 | 164.0 | 163.8 | |||||||||||||||||||||||||||||
Average AUM | 1,019.6 | 335.9 | 280.8 | 77.7 | 157.1 | 168.1 | |||||||||||||||||||||||||||||
% of total average AUM | 100.0 | % | 32.9 | % | 27.5 | % | 7.7 | % | 15.4 | % | 16.5 | % | |||||||||||||||||||||||
December 31, 2020 | 979.3 | 383.2 | 259.4 | 77.9 | 108.5 | 150.3 | |||||||||||||||||||||||||||||
Long-term inflows | 137.4 | 39.9 | 49.8 | 31.3 | — | 16.4 | |||||||||||||||||||||||||||||
Long-term outflows | (127.8) | (50.0) | (34.5) | (25.9) | — | (17.4) | |||||||||||||||||||||||||||||
Net long-term flows | 9.6 | (10.1) | 15.3 | 5.4 | — | (1.0) | |||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | — | — | (0.1) | 0.1 | — | — | |||||||||||||||||||||||||||||
Net flows in money market funds | 27.1 | — | — | — | 27.1 | — | |||||||||||||||||||||||||||||
Total net flows | 36.7 | (10.1) | 15.2 | 5.5 | 27.1 | (1.0) | |||||||||||||||||||||||||||||
Reinvested distributions | 1.8 | 0.4 | 0.8 | 0.2 | — | 0.4 | |||||||||||||||||||||||||||||
Market gains and losses | 49.5 | 38.7 | 0.5 | 3.4 | (0.2) | 7.1 | |||||||||||||||||||||||||||||
Foreign currency translation | (1.3) | (0.2) | (1.3) | 0.4 | 0.3 | (0.5) | |||||||||||||||||||||||||||||
June 30, 2021 | 1,066.0 | 412.0 | 274.6 | 87.4 | 135.7 | 156.3 | |||||||||||||||||||||||||||||
Average AUM | 1,028.8 | 401.5 | 266.3 | 85.6 | 121.8 | 153.6 | |||||||||||||||||||||||||||||
% of total average AUM | 100.0 | % | 39.0 | % | 25.9 | % | 8.4 | % | 11.8 | % | 14.9 | % |
$ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | |||||||||||||||||||||||||||||
March 31, 2022 | 513.2 | 432.1 | 40.6 | 1.0 | — | 39.5 | |||||||||||||||||||||||||||||
Long-term inflows | 32.6 | 22.2 | 5.3 | — | — | 5.1 | |||||||||||||||||||||||||||||
Long-term outflows | (28.1) | (19.1) | (2.7) | — | — | (6.3) | |||||||||||||||||||||||||||||
Net long-term flows | 4.5 | 3.1 | 2.6 | — | — | (1.2) | |||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | (2.0) | 0.2 | (2.2) | — | — | — | |||||||||||||||||||||||||||||
Total net flows | 2.5 | 3.3 | 0.4 | — | — | (1.2) | |||||||||||||||||||||||||||||
Market gains and losses | (80.7) | (76.4) | (2.0) | (0.1) | — | (2.2) | |||||||||||||||||||||||||||||
Foreign currency translation | (2.5) | (1.7) | (0.5) | — | — | (0.3) | |||||||||||||||||||||||||||||
June 30, 2022 | 432.5 | 357.3 | 38.5 | 0.9 | — | 35.8 | |||||||||||||||||||||||||||||
Average AUM | 468.0 | 388.8 | 39.0 | 0.9 | — | 39.3 | |||||||||||||||||||||||||||||
% of total average AUM | 100.0 | % | 83.1 | % | 8.3 | % | 0.2 | % | — | % | 8.4 | % | |||||||||||||||||||||||
March 31, 2021 | 397.8 | 331.6 | 38.7 | 1.0 | — | 26.5 | |||||||||||||||||||||||||||||
Long-term inflows | 53.3 | 41.5 | 6.2 | 0.1 | — | 5.5 | |||||||||||||||||||||||||||||
Long-term outflows | (24.3) | (20.9) | (1.4) | — | — | (2.0) | |||||||||||||||||||||||||||||
Net long-term flows | 29.0 | 20.6 | 4.8 | 0.1 | — | 3.5 | |||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | 2.5 | 3.3 | (0.7) | (0.1) | — | — | |||||||||||||||||||||||||||||
Total net flows | 31.5 | 23.9 | 4.1 | — | — | 3.5 | |||||||||||||||||||||||||||||
Market gains and losses | 30.3 | 28.4 | 0.3 | 0.1 | — | 1.5 | |||||||||||||||||||||||||||||
Foreign currency translation | (0.6) | (0.4) | (0.1) | — | — | (0.1) | |||||||||||||||||||||||||||||
June 30, 2021 | 459.0 | 383.5 | 43.0 | 1.1 | — | 31.4 | |||||||||||||||||||||||||||||
Average AUM | 431.1 | 358.8 | 41.1 | 1.1 | — | 30.1 | |||||||||||||||||||||||||||||
% of total average AUM | 100.0 | % | 83.2 | % | 9.5 | % | 0.3 | % | — | % | 7.0 | % |
$ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | |||||||||||||||||||||||||||||
December 31, 2021 | 528.4 | 452.0 | 41.7 | 1.2 | — | 33.5 | |||||||||||||||||||||||||||||
Long-term inflows | 77.2 | 53.7 | 10.2 | — | — | 13.3 | |||||||||||||||||||||||||||||
Long-term outflows | (56.3) | (39.9) | (5.3) | (0.1) | — | (11.0) | |||||||||||||||||||||||||||||
Net long-term flows | 20.9 | 13.8 | 4.9 | (0.1) | — | 2.3 | |||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | (3.0) | 0.6 | (3.6) | — | — | — | |||||||||||||||||||||||||||||
Total net flows | 17.9 | 14.4 | 1.3 | (0.1) | — | 2.3 | |||||||||||||||||||||||||||||
Market gains and losses | (111.6) | (107.7) | (4.0) | (0.2) | — | 0.3 | |||||||||||||||||||||||||||||
Foreign currency translation | (2.2) | (1.4) | (0.5) | — | — | (0.3) | |||||||||||||||||||||||||||||
June 30, 2022 | 432.5 | 357.3 | 38.5 | 0.9 | — | 35.8 | |||||||||||||||||||||||||||||
Average AUM | 481.6 | 403.4 | 39.8 | 1.0 | — | 37.4 | |||||||||||||||||||||||||||||
% of total average AUM | 100.0 | % | 83.8 | % | 8.3 | % | 0.1 | % | — | % | 7.8 | % | |||||||||||||||||||||||
December 31, 2020 | 370.6 | 306.4 | 37.0 | 1.0 | — | 26.2 | |||||||||||||||||||||||||||||
Long-term inflows | 97.2 | 76.9 | 9.4 | 0.1 | — | 10.8 | |||||||||||||||||||||||||||||
Long-term outflows | (51.2) | (42.0) | (3.5) | — | — | (5.7) | |||||||||||||||||||||||||||||
Net long-term flows | 46.0 | 34.9 | 5.9 | 0.1 | — | 5.1 | |||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | 2.6 | 2.0 | 0.7 | (0.1) | — | — | |||||||||||||||||||||||||||||
Total net flows | 48.6 | 36.9 | 6.6 | — | — | 5.1 | |||||||||||||||||||||||||||||
Market gains and losses | 40.7 | 40.7 | (0.4) | 0.1 | — | 0.3 | |||||||||||||||||||||||||||||
Foreign currency translation | (0.9) | (0.5) | (0.2) | — | — | (0.2) | |||||||||||||||||||||||||||||
June 30, 2021 | 459.0 | 383.5 | 43.0 | 1.1 | — | 31.4 | |||||||||||||||||||||||||||||
Average AUM | 408.9 | 339.4 | 39.6 | 1.1 | — | 28.8 | |||||||||||||||||||||||||||||
% of total average AUM | 100.0 | % | 83.0 | % | 9.7 | % | 0.3 | % | — | % | 7.0 | % | |||||||||||||||||||||||
$ in billions | Total | Americas | Asia Pacific | EMEA Ex UK | UK | ||||||||||||||||||||||||
March 31, 2022 | 1,555.9 | 1,091.5 | 239.8 | 169.7 | 54.9 | ||||||||||||||||||||||||
Long-term inflows | 81.4 | 49.0 | 15.4 | 15.1 | 1.9 | ||||||||||||||||||||||||
Long-term outflows | (88.2) | (52.9) | (15.3) | (16.2) | (3.8) | ||||||||||||||||||||||||
Net long-term flows | (6.8) | (3.9) | 0.1 | (1.1) | (1.9) | ||||||||||||||||||||||||
Net flows in non-management fee earning AUM | (2.0) | (2.5) | 0.9 | (0.5) | 0.1 | ||||||||||||||||||||||||
Net flows in money market funds | 3.5 | 4.0 | (0.4) | (0.1) | — | ||||||||||||||||||||||||
Total net flows | (5.3) | (2.4) | 0.6 | (1.7) | (1.8) | ||||||||||||||||||||||||
Reinvested distributions | 1.8 | 1.7 | — | — | 0.1 | ||||||||||||||||||||||||
Market gains and losses | (142.3) | (116.3) | (3.5) | (19.3) | (3.2) | ||||||||||||||||||||||||
Foreign currency translation | (19.7) | (1.0) | (12.5) | (2.4) | (3.8) | ||||||||||||||||||||||||
June 30, 2022 | 1,390.4 | 973.5 | 224.4 | 146.3 | 46.2 | ||||||||||||||||||||||||
March 31, 2021 | 1,404.1 | 997.2 | 189.0 | 154.8 | 63.1 | ||||||||||||||||||||||||
Long-term inflows | 114.4 | 52.9 | 44.0 | 14.8 | 2.7 | ||||||||||||||||||||||||
Long-term outflows | (83.3) | (47.9) | (15.7) | (13.8) | (5.9) | ||||||||||||||||||||||||
Net long-term flows | 31.1 | 5.0 | 28.3 | 1.0 | (3.2) | ||||||||||||||||||||||||
Net flows in non-management fee earning AUM | 2.5 | 1.7 | 0.5 | 0.3 | — | ||||||||||||||||||||||||
Net flows in money market funds | 19.8 | 20.2 | (0.4) | — | — | ||||||||||||||||||||||||
Total net flows | 53.4 | 26.9 | 28.4 | 1.3 | (3.2) | ||||||||||||||||||||||||
Reinvested distributions | 0.9 | 0.8 | — | — | 0.1 | ||||||||||||||||||||||||
Market gains and losses | 65.6 | 50.5 | 8.0 | 5.3 | 1.8 | ||||||||||||||||||||||||
Foreign currency translation | 1.0 | 0.4 | 0.2 | 0.3 | 0.1 | ||||||||||||||||||||||||
June 30, 2021 | 1,525.0 | 1,075.8 | 225.6 | 161.7 | 61.9 | ||||||||||||||||||||||||
$ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | |||||||||||||||||||||||||||||
June 30, 2022 | 432.5 | 357.3 | 38.5 | 0.9 | — | 35.8 | |||||||||||||||||||||||||||||
Long-term inflows | 24.2 | 14.6 | 5.2 | — | — | 4.4 | |||||||||||||||||||||||||||||
Long-term outflows | (24.6) | (15.5) | (2.4) | — | — | (6.7) | |||||||||||||||||||||||||||||
Net long-term flows | (0.4) | (0.9) | 2.8 | — | — | (2.3) | |||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | 1.9 | 1.8 | 0.1 | — | — | — | |||||||||||||||||||||||||||||
Total net flows | 1.5 | 0.9 | 2.9 | — | — | (2.3) | |||||||||||||||||||||||||||||
Market gains and losses | (23.1) | (19.6) | (1.4) | (0.1) | — | (2.0) | |||||||||||||||||||||||||||||
Foreign currency translation | (1.7) | (1.1) | (0.4) | — | — | (0.2) | |||||||||||||||||||||||||||||
September 30, 2022 | 409.2 | 337.5 | 39.6 | 0.8 | — | 31.3 | |||||||||||||||||||||||||||||
Average AUM | 454.6 | 378.8 | 39.7 | 0.9 | — | 35.2 | |||||||||||||||||||||||||||||
% of total average AUM | 100.0 | % | 83.3 | % | 8.7 | % | 0.3 | % | — | % | 7.7 | % | |||||||||||||||||||||||
June 30, 2021 | 459.0 | 383.5 | 43.0 | 1.1 | — | 31.4 | |||||||||||||||||||||||||||||
Long-term inflows | 31.4 | 25.8 | 2.3 | — | — | 3.3 | |||||||||||||||||||||||||||||
Long-term outflows | (24.9) | (19.8) | (2.3) | — | — | (2.8) | |||||||||||||||||||||||||||||
Net long-term flows | 6.5 | 6.0 | — | — | — | 0.5 | |||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | 5.5 | 5.8 | (0.3) | — | — | — | |||||||||||||||||||||||||||||
Total net flows | 12.0 | 11.8 | (0.3) | — | — | 0.5 | |||||||||||||||||||||||||||||
Market gains and losses | (1.5) | (1.3) | (0.3) | — | — | 0.1 | |||||||||||||||||||||||||||||
Foreign currency translation | (0.9) | (0.6) | (0.2) | — | — | (0.1) | |||||||||||||||||||||||||||||
September 30, 2021 | 468.6 | 393.4 | 42.2 | 1.1 | — | 31.9 | |||||||||||||||||||||||||||||
Average AUM | 474.9 | 399.4 | 42.6 | 1.1 | — | 31.8 | |||||||||||||||||||||||||||||
% of total average AUM | 100.0 | % | 84.1 | % | 9.0 | % | 0.2 | % | — | % | 6.7 | % |
$ in billions | $ in billions | Total | Americas | Asia Pacific | EMEA Ex UK | UK | $ in billions | Total | Equity | Fixed Income | Balanced | Money Market | Alternatives | |||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | 1,610.9 | 1,132.5 | 247.3 | 171.5 | 59.6 | December 31, 2021 | 528.4 | 452.0 | 41.7 | 1.2 | — | 33.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 187.7 | 110.5 | 36.8 | 36.6 | 3.8 | Long-term inflows | 101.4 | 68.3 | 15.4 | — | — | 17.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (177.3) | (106.5) | (31.1) | (31.8) | (7.9) | Long-term outflows | (80.9) | (55.4) | (7.7) | (0.1) | — | (17.7) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 10.4 | 4.0 | 5.7 | 4.8 | (4.1) | Net long-term flows | 20.5 | 12.9 | 7.7 | (0.1) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (3.0) | (4.7) | 0.8 | 0.6 | 0.3 | Net flows in non-management fee earning AUM | (1.1) | 2.4 | (3.5) | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | 16.3 | 16.4 | 0.8 | (0.9) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 23.7 | 15.7 | 7.3 | 4.5 | (3.8) | Total net flows | 19.4 | 15.3 | 4.2 | (0.1) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | 2.6 | 2.5 | — | — | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (223.2) | (176.3) | (15.9) | (26.5) | (4.5) | Market gains and losses | (134.7) | (127.3) | (5.4) | (0.3) | — | (1.7) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (23.6) | (0.9) | (14.3) | (3.2) | (5.2) | Foreign currency translation | (3.9) | (2.5) | (0.9) | — | — | (0.5) | |||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 1,390.4 | 973.5 | 224.4 | 146.3 | 46.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 409.2 | 337.5 | 39.6 | 0.8 | — | 31.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | 472.5 | 395.2 | 39.8 | 0.9 | — | 36.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
% of total average AUM | % of total average AUM | 100.0 | % | 83.6 | % | 8.4 | % | 0.2 | % | — | % | 7.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | 1,349.9 | 959.9 | 171.3 | 151.7 | 67.0 | December 31, 2020 | 370.6 | 306.4 | 37.0 | 1.0 | — | 26.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 234.6 | 113.9 | 81.8 | 33.9 | 5.0 | Long-term inflows | 128.6 | 102.7 | 11.7 | 0.1 | — | 14.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (179.0) | (98.9) | (36.8) | (29.2) | (14.1) | Long-term outflows | (76.1) | (61.8) | (5.8) | — | — | (8.5) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 55.6 | 15.0 | 45.0 | 4.7 | (9.1) | Net long-term flows | 52.5 | 40.9 | 5.9 | 0.1 | — | 5.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | 2.6 | 1.7 | 0.9 | — | — | Net flows in non-management fee earning AUM | 8.1 | 7.8 | 0.4 | (0.1) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | 27.1 | 22.8 | 4.5 | (0.2) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 85.3 | 39.5 | 50.4 | 4.5 | (9.1) | Total net flows | 60.6 | 48.7 | 6.3 | — | — | 5.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | 1.8 | 1.6 | 0.1 | — | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 90.2 | 74.2 | 6.5 | 6.2 | 3.3 | Market gains and losses | 39.2 | 39.4 | (0.7) | 0.1 | — | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (1.8) | (1.1) | (0.4) | — | — | (0.3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 468.6 | 393.4 | 42.2 | 1.1 | — | 31.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average AUM | Average AUM | 430.9 | 359.4 | 40.6 | 1.1 | — | 29.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
% of total average AUM | % of total average AUM | 100.0 | % | 83.4 | % | 9.4 | % | 0.3 | % | — | % | 6.9 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | (2.2) | 0.6 | (2.7) | (0.7) | 0.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 1,525.0 | 1,075.8 | 225.6 | 161.7 | 61.9 |
$ in billions | $ in billions | Total | Americas | Asia Pacific | EMEA Ex UK | UK | $ in billions | Total | Americas | Asia Pacific | EMEA(4) | ||||||||||||||||||||||||||||||||||||||||||||
March 31, 2022 | 1,042.7 | 703.2 | 202.3 | 83.3 | 53.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | 1,390.4 | 973.5 | 224.4 | 192.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 48.8 | 28.7 | 13.8 | 4.5 | 1.8 | Long-term inflows | 68.7 | 34.8 | 20.1 | 13.8 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (60.1) | (36.3) | (13.2) | (7.0) | (3.6) | Long-term outflows | (76.4) | (44.7) | (15.0) | (16.7) | ||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | (11.3) | (7.6) | 0.6 | (2.5) | (1.8) | Net long-term flows | (7.7) | (9.9) | 5.1 | (2.9) | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | — | — | 0.1 | (0.1) | — | Net flows in non-management fee earning AUM | 1.9 | 2.8 | 0.6 | (1.5) | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 3.5 | 4.0 | (0.4) | (0.1) | — | Net flows in money market funds | 10.0 | 10.9 | (0.4) | (0.5) | ||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | (7.8) | (3.6) | 0.3 | (2.7) | (1.8) | Total net flows | 4.2 | 3.8 | 5.3 | (4.9) | ||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 1.8 | 1.7 | — | — | 0.1 | Reinvested distributions | 0.9 | 0.8 | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (61.6) | (51.2) | (0.9) | (6.5) | (3.0) | Market gains and losses | (55.1) | (35.9) | (9.4) | (9.8) | ||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (17.2) | (1.0) | (10.4) | (2.0) | (3.8) | Foreign currency translation | (17.1) | (1.4) | (10.0) | (5.7) | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 957.9 | 649.1 | 191.3 | 72.1 | 45.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 1,323.3 | 940.8 | 210.3 | 172.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2021 | 1,006.3 | 671.7 | 178.5 | 93.9 | 62.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | June 30, 2021 | 1,525.0 | 1,075.8 | 225.6 | 223.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 61.1 | 27.9 | 24.5 | 6.3 | 2.4 | Long-term inflows | 91.7 | 49.7 | 26.0 | 16.0 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (59.0) | (30.8) | (15.0) | (7.5) | (5.7) | Long-term outflows | (78.4) | (44.9) | (16.7) | (16.8) | ||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 2.1 | (2.9) | 9.5 | (1.2) | (3.3) | Net long-term flows | 13.3 | 4.8 | 9.3 | (0.8) | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | 5.5 | 4.6 | 0.9 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 19.8 | 20.2 | (0.4) | — | — | Net flows in money market funds | 2.6 | 2.7 | (0.2) | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 21.9 | 17.3 | 9.1 | (1.2) | (3.3) | Total net flows | 21.4 | 12.1 | 10.0 | (0.7) | ||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 0.9 | 0.8 | — | — | 0.1 | Reinvested distributions | 0.8 | 0.7 | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 35.3 | 26.1 | 5.0 | 2.4 | 1.8 | Market gains and losses | (14.6) | (8.7) | (4.2) | (1.7) | ||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | 1.6 | 0.4 | 0.8 | 0.3 | 0.1 | Foreign currency translation | (4.0) | (0.7) | (1.1) | (2.2) | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 1,066.0 | 716.3 | 193.4 | 95.4 | 60.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 1,528.6 | 1,079.2 | 230.3 | 219.1 |
$ in billions | Total | Americas | Asia Pacific | EMEA(4) | ||||||||||||||||||||||
December 31, 2021 | 1,610.9 | 1,132.5 | 247.3 | 231.1 | ||||||||||||||||||||||
Long-term inflows | 256.4 | 145.3 | 56.9 | 54.2 | ||||||||||||||||||||||
Long-term outflows | (253.7) | (151.2) | (46.1) | (56.4) | ||||||||||||||||||||||
Net long-term flows | 2.7 | (5.9) | 10.8 | (2.2) | ||||||||||||||||||||||
Net flows in non-management fee earning AUM | (1.1) | (1.9) | 1.4 | (0.6) | ||||||||||||||||||||||
Net flows in money market funds | 26.3 | 27.3 | 0.4 | (1.4) | ||||||||||||||||||||||
Total net flows | 27.9 | 19.5 | 12.6 | (4.2) | ||||||||||||||||||||||
Reinvested distributions | 3.5 | 3.3 | — | 0.2 | ||||||||||||||||||||||
Market gains and losses | (278.3) | (212.2) | (25.3) | (40.8) | ||||||||||||||||||||||
Foreign currency translation | (40.7) | (2.3) | (24.3) | (14.1) | ||||||||||||||||||||||
September 30, 2022 | 1,323.3 | 940.8 | 210.3 | 172.2 | ||||||||||||||||||||||
December 31, 2020 | 1,349.9 | 959.9 | 171.3 | 218.7 | ||||||||||||||||||||||
Long-term inflows | 326.3 | 163.6 | 107.8 | 54.9 | ||||||||||||||||||||||
Long-term outflows | (257.4) | (143.8) | (53.5) | (60.1) | ||||||||||||||||||||||
Net long-term flows | 68.9 | 19.8 | 54.3 | (5.2) | ||||||||||||||||||||||
Net flows in non-management fee earning AUM | 8.1 | 6.3 | 1.8 | — | ||||||||||||||||||||||
Net flows in money market funds | 29.7 | 25.5 | 4.3 | (0.1) | ||||||||||||||||||||||
Total net flows | 106.7 | 51.6 | 60.4 | (5.3) | ||||||||||||||||||||||
Reinvested distributions | 2.6 | 2.3 | 0.1 | 0.2 | ||||||||||||||||||||||
Market gains and losses | 75.6 | 65.5 | 2.3 | 7.8 | ||||||||||||||||||||||
Foreign currency translation | (6.2) | (0.1) | (3.8) | (2.3) | ||||||||||||||||||||||
September 30, 2021 | 1,528.6 | 1,079.2 | 230.3 | 219.1 |
$ in billions | Total | Americas | Asia Pacific | EMEA(4) | ||||||||||||||||||||||
June 30, 2022 | 957.9 | 649.1 | 191.3 | 117.5 | ||||||||||||||||||||||
Long-term inflows | 44.5 | 20.6 | 18.9 | 5.0 | ||||||||||||||||||||||
Long-term outflows | (51.8) | (31.1) | (13.3) | (7.4) | ||||||||||||||||||||||
Net long-term flows | (7.3) | (10.5) | 5.6 | (2.4) | ||||||||||||||||||||||
Net flows in money market funds | 10.0 | 10.9 | (0.4) | (0.5) | ||||||||||||||||||||||
Total net flows | 2.7 | 0.4 | 5.2 | (2.9) | ||||||||||||||||||||||
Reinvested distributions | 0.9 | 0.8 | — | 0.1 | ||||||||||||||||||||||
Market gains and losses | (32.0) | (19.7) | (6.8) | (5.5) | ||||||||||||||||||||||
Foreign currency translation | (15.4) | (1.3) | (8.8) | (5.3) | ||||||||||||||||||||||
September 30, 2022 | 914.1 | 629.3 | 180.9 | 103.9 | ||||||||||||||||||||||
June 30, 2021 | 1,066.0 | 716.3 | 193.4 | 156.3 | ||||||||||||||||||||||
Long-term inflows | 60.3 | 28.8 | 24.3 | 7.2 | ||||||||||||||||||||||
Long-term outflows | (53.5) | (27.8) | (15.2) | (10.5) | ||||||||||||||||||||||
Net long-term flows | 6.8 | 1.0 | 9.1 | (3.3) | ||||||||||||||||||||||
Net flows in money market funds | 2.6 | 2.7 | (0.2) | 0.1 | ||||||||||||||||||||||
Total net flows | 9.4 | 3.7 | 8.9 | (3.2) | ||||||||||||||||||||||
Reinvested distributions | 0.8 | 0.7 | — | 0.1 | ||||||||||||||||||||||
Market gains and losses | (13.1) | (7.2) | (4.4) | (1.5) | ||||||||||||||||||||||
Foreign currency translation | (3.1) | (0.7) | (0.4) | (2.0) | ||||||||||||||||||||||
September 30, 2021 | 1,060.0 | 712.8 | 197.5 | 149.7 |
$ in billions | $ in billions | Total | Americas | Asia Pacific | EMEA Ex UK | UK | $ in billions | Total | Americas | Asia Pacific | EMEA(4) | ||||||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | 1,082.5 | 724.5 | 208.8 | 90.5 | 58.7 | December 31, 2021 | 1,082.5 | 724.5 | 208.8 | 149.2 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 110.5 | 63.2 | 33.6 | 10.2 | 3.5 | Long-term inflows | 155.0 | 83.8 | 52.5 | 18.7 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (121.0) | (71.8) | (27.9) | (13.9) | (7.4) | Long-term outflows | (172.8) | (102.9) | (41.2) | (28.7) | ||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | (10.5) | (8.6) | 5.7 | (3.7) | (3.9) | Net long-term flows | (17.8) | (19.1) | 11.3 | (10.0) | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | — | — | 0.1 | (0.1) | — | Net flows in non-management fee earning AUM | — | — | 0.1 | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 16.3 | 16.4 | 0.8 | (0.9) | — | Net flows in money market funds | 26.3 | 27.3 | 0.4 | (1.4) | ||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 5.8 | 7.8 | 6.6 | (4.7) | (3.9) | Total net flows | 8.5 | 8.2 | 11.8 | (11.5) | ||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 2.6 | 2.5 | — | — | 0.1 | Reinvested distributions | 3.5 | 3.3 | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (111.6) | (84.8) | (11.4) | (11.1) | (4.3) | Market gains and losses | (143.6) | (104.5) | (18.2) | (20.9) | ||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (21.4) | (0.9) | (12.7) | (2.6) | (5.2) | Foreign currency translation | (36.8) | (2.2) | (21.5) | (13.1) | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 957.9 | 649.1 | 191.3 | 72.1 | 45.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 914.1 | 629.3 | 180.9 | 103.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | 979.3 | 656.9 | 163.4 | 92.8 | 66.2 | December 31, 2020 | 979.3 | 656.9 | 163.4 | 159.0 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 137.4 | 59.0 | 59.0 | 15.0 | 4.4 | Long-term inflows | 197.7 | 87.8 | 83.3 | 26.6 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (127.8) | (64.9) | (35.0) | (14.2) | (13.7) | Long-term outflows | (181.3) | (92.7) | (50.2) | (38.4) | ||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 9.6 | (5.9) | 24.0 | 0.8 | (9.3) | Net long-term flows | 16.4 | (4.9) | 33.1 | (11.8) | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | — | (0.1) | 0.1 | — | — | Net flows in non-management fee earning AUM | — | (0.1) | 0.1 | — | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in money market funds | Net flows in money market funds | 27.1 | 22.8 | 4.5 | (0.2) | — | Net flows in money market funds | 29.7 | 25.5 | 4.3 | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 36.7 | 16.8 | 28.6 | 0.6 | (9.3) | Total net flows | 46.1 | 20.5 | 37.5 | (11.9) | ||||||||||||||||||||||||||||||||||||||||||||
Reinvested distributions | Reinvested distributions | 1.8 | 1.6 | 0.1 | — | 0.1 | Reinvested distributions | 2.6 | 2.3 | 0.1 | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 49.5 | 40.4 | 3.3 | 2.5 | 3.3 | Market gains and losses | 36.4 | 33.2 | (1.1) | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (1.3) | 0.6 | (2.0) | (0.5) | 0.6 | Foreign currency translation | (4.4) | (0.1) | (2.4) | (1.9) | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 1066.0 | 716.3 | 193.4 | 95.4 | 60.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 1060.0 | 712.8 | 197.5 | 149.7 |
$ in billions | $ in billions | Total | Americas | Asia Pacific | EMEA Ex UK | UK | $ in billions | Total | Americas | Asia Pacific | EMEA(4) | ||||||||||||||||||||||||||||||||||||||||||||
March 31, 2022 | 513.2 | 388.3 | 37.5 | 86.4 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | 432.5 | 324.4 | 33.1 | 75.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 32.6 | 20.3 | 1.6 | 10.6 | 0.1 | Long-term inflows | 24.2 | 14.2 | 1.2 | 8.8 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (28.1) | (16.6) | (2.1) | (9.2) | (0.2) | Long-term outflows | (24.6) | (13.6) | (1.7) | (9.3) | ||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 4.5 | 3.7 | (0.5) | 1.4 | (0.1) | Net long-term flows | (0.4) | 0.6 | (0.5) | (0.5) | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (2.0) | (2.5) | 0.8 | (0.4) | 0.1 | Net flows in non-management fee earning AUM | 1.9 | 2.8 | 0.6 | (1.5) | ||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 2.5 | 1.2 | 0.3 | 1.0 | — | Total net flows | 1.5 | 3.4 | 0.1 | (2.0) | ||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (80.7) | (65.1) | (2.6) | (12.8) | (0.2) | Market gains and losses | (23.1) | (16.2) | (2.6) | (4.3) | ||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (2.5) | — | (2.1) | (0.4) | — | Foreign currency translation | (1.7) | (0.1) | (1.2) | (0.4) | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 432.5 | 324.4 | 33.1 | 74.2 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 409.2 | 311.5 | 29.4 | 68.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2021 | 397.8 | 325.5 | 10.5 | 60.9 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | June 30, 2021 | 459.0 | 359.5 | 32.2 | 67.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 53.3 | 25.0 | 19.5 | 8.5 | 0.3 | Long-term inflows | 31.4 | 20.9 | 1.7 | 8.8 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (24.3) | (17.1) | (0.7) | (6.3) | (0.2) | Long-term outflows | (24.9) | (17.1) | (1.5) | (6.3) | ||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 29.0 | 7.9 | 18.8 | 2.2 | 0.1 | Net long-term flows | 6.5 | 3.8 | 0.2 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | 2.5 | 1.7 | 0.5 | 0.3 | — | Net flows in non-management fee earning AUM | 5.5 | 4.6 | 0.9 | — | ||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 31.5 | 9.6 | 19.3 | 2.5 | 0.1 | Total net flows | 12.0 | 8.4 | 1.1 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 30.3 | 24.4 | 3.0 | 2.9 | — | Market gains and losses | (1.5) | (1.5) | 0.2 | (0.2) | ||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (0.6) | — | (0.6) | — | — | Foreign currency translation | (0.9) | — | (0.7) | (0.2) | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 459.0 | 359.5 | 32.2 | 66.3 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 468.6 | 366.4 | 32.8 | 69.4 |
$ in billions | $ in billions | Total | Americas | Asia Pacific | EMEA Ex UK | UK | $ in billions | Total | Americas | Asia Pacific | EMEA(4) | ||||||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | 528.4 | 408.0 | 38.5 | 81.0 | 0.9 | December 31, 2021 | 528.4 | 408.0 | 38.5 | 81.9 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 77.2 | 47.3 | 3.2 | 26.4 | 0.3 | Long-term inflows | 101.4 | 61.5 | 4.4 | 35.5 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (56.3) | (34.7) | (3.2) | (17.9) | (0.5) | Long-term outflows | (80.9) | (48.3) | (4.9) | (27.7) | ||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 20.9 | 12.6 | — | 8.5 | (0.2) | Net long-term flows | 20.5 | 13.2 | (0.5) | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | (3.0) | (4.7) | 0.7 | 0.7 | 0.3 | Net flows in non-management fee earning AUM | (1.1) | (1.9) | 1.3 | (0.5) | ||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 17.9 | 7.9 | 0.7 | 9.2 | 0.1 | Total net flows | 19.4 | 11.3 | 0.8 | 7.3 | ||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | (111.6) | (91.5) | (4.5) | (15.4) | (0.2) | Market gains and losses | (134.7) | (107.7) | (7.1) | (19.9) | ||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (2.2) | — | (1.6) | (0.6) | — | Foreign currency translation | (3.9) | (0.1) | (2.8) | (1.0) | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 432.5 | 324.4 | 33.1 | 74.2 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 409.2 | 311.5 | 29.4 | 68.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | 370.6 | 303.0 | 7.9 | 58.9 | 0.8 | December 31, 2020 | 370.6 | 303.0 | 7.9 | 59.7 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term inflows | Long-term inflows | 97.2 | 54.9 | 22.8 | 18.9 | 0.6 | Long-term inflows | 128.6 | 75.8 | 24.5 | 28.3 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term outflows | Long-term outflows | (51.2) | (34.0) | (1.8) | (15.0) | (0.4) | Long-term outflows | (76.1) | (51.1) | (3.3) | (21.7) | ||||||||||||||||||||||||||||||||||||||||||||
Net long-term flows | Net long-term flows | 46.0 | 20.9 | 21.0 | 3.9 | 0.2 | Net long-term flows | 52.5 | 24.7 | 21.2 | 6.6 | ||||||||||||||||||||||||||||||||||||||||||||
Net flows in non-management fee earning AUM | Net flows in non-management fee earning AUM | 2.6 | 1.8 | 0.8 | — | — | Net flows in non-management fee earning AUM | 8.1 | 6.4 | 1.7 | — | ||||||||||||||||||||||||||||||||||||||||||||
Total net flows | Total net flows | 48.6 | 22.7 | 21.8 | 3.9 | 0.2 | Total net flows | 60.6 | 31.1 | 22.9 | 6.6 | ||||||||||||||||||||||||||||||||||||||||||||
Market gains and losses | Market gains and losses | 40.7 | 33.8 | 3.2 | 3.7 | — | Market gains and losses | 39.2 | 32.3 | 3.4 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | Foreign currency translation | (0.9) | — | (0.7) | (0.2) | — | Foreign currency translation | (1.8) | — | (1.4) | (0.4) | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 459.0 | 359.5 | 32.2 | 66.3 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 468.6 | 366.4 | 32.8 | 69.4 |
Variance | Variance | Variance | Variance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | 2022 vs 2021 | Six months ended June 30, | 2022 vs 2021 | Three months ended September 30, | 2022 vs 2021 | Nine months ended September 30, | 2022 vs 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | 2022 | 2021 | $ Change | % Change | 2022 | 2021 | $ Change | % Change | $ in millions | 2022 | 2021 | $ Change | % Change | 2022 | 2021 | $ Change | % Change | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment management fees | Investment management fees | 1,113.5 | 1,247.4 | (133.9) | (10.7) | % | 2,294.0 | 2,454.0 | (160.0) | (6.5) | % | Investment management fees | 1,057.3 | 1,275.5 | (218.2) | (17.1) | % | 3,351.3 | 3,729.5 | (378.2) | (10.1) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service and distribution fees | Service and distribution fees | 353.8 | 401.0 | (47.2) | (11.8) | % | 732.8 | 782.1 | (49.3) | (6.3) | % | Service and distribution fees | 340.2 | 409.1 | (68.9) | (16.8) | % | 1,073.0 | 1,191.2 | (118.2) | (9.9) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance fees | Performance fees | 9.2 | 10.5 | (1.3) | (12.4) | % | 10.2 | 17.2 | (7.0) | (40.7) | % | Performance fees | 3.0 | 4.8 | (1.8) | (37.5) | % | 13.2 | 22.0 | (8.8) | (40.0) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 53.9 | 62.5 | (8.6) | (13.8) | % | 122.8 | 127.8 | (5.0) | (3.9) | % | Other | 45.2 | 60.6 | (15.4) | (25.4) | % | 168.0 | 188.4 | (20.4) | (10.8) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total operating revenues | Total operating revenues | 1,530.4 | 1,721.4 | (191.0) | (11.1) | % | 3,159.8 | 3,381.1 | (221.3) | (6.5) | % | Total operating revenues | 1,445.7 | 1,750.0 | (304.3) | (17.4) | % | 4,605.5 | 5,131.1 | (525.6) | (10.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Great Wall | 106.1 | 110.9 | (4.8) | (4.3) | % | 230.2 | 214.9 | 15.3 | 7.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue Adjustments: | Revenue Adjustments: | Revenue Adjustments: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment management fees | Investment management fees | (193.1) | (212.8) | 19.7 | (9.3) | % | (399.0) | (416.0) | 17.0 | (4.1) | % | Investment management fees | (185.5) | (216.3) | 30.8 | (14.2) | % | (584.5) | (632.3) | 47.8 | (7.6) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service and distribution fees | Service and distribution fees | (240.3) | (269.7) | 29.4 | (10.9) | % | (498.0) | (531.2) | 33.2 | (6.3) | % | Service and distribution fees | (232.1) | (278.0) | 45.9 | (16.5) | % | (730.1) | (809.2) | 79.1 | (9.8) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | (41.6) | (57.1) | 15.5 | (27.1) | % | (90.6) | (115.2) | 24.6 | (21.4) | % | Other | (33.7) | (52.1) | 18.4 | (35.3) | % | (124.3) | (167.3) | 43.0 | (25.7) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenue Adjustments (1) | Total Revenue Adjustments (1) | (475.0) | (539.6) | 64.6 | (12.0) | % | (987.6) | (1,062.4) | 74.8 | (7.0) | % | Total Revenue Adjustments (1) | (451.3) | (546.4) | 95.1 | (17.4) | % | (1,438.9) | (1,608.8) | 169.9 | (10.6) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Great Wall | Invesco Great Wall | 104.6 | 118.7 | (14.1) | (11.9) | % | 334.8 | 333.6 | 1.2 | 0.4 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIP | CIP | 12.4 | 10.2 | 2.2 | 21.6 | % | 23.9 | 20.3 | 3.6 | 17.7 | % | CIP | 11.6 | 11.2 | 0.4 | 3.6 | % | 35.5 | 31.5 | 4.0 | 12.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net revenues (2) | Net revenues (2) | 1,173.9 | 1,302.9 | (129.0) | (9.9) | % | 2,426.3 | 2,553.9 | (127.6) | (5.0) | % | Net revenues (2) | 1,110.6 | 1,333.5 | (222.9) | (16.7) | % | 3,536.9 | 3,887.4 | (350.5) | (9.0) | % |
Variance | Variance | Variance | Variance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | 2022 vs 2021 | Six months ended June 30, | 2022 vs 2021 | Three months ended September 30, | 2022 vs 2021 | Nine months ended September 30, | 2022 vs 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | 2022 | 2021 | $ Change | % Change | 2022 | 2021 | $ Change | % Change | $ in millions | 2022 | 2021 | $ Change | % Change | 2022 | 2021 | $ Change | % Change | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third-party distribution, service and advisory | Third-party distribution, service and advisory | 475.0 | 539.6 | (64.6) | (12.0) | % | 987.6 | 1,062.4 | (74.8) | (7.0) | % | Third-party distribution, service and advisory | 451.3 | 546.4 | (95.1) | (17.4) | % | 1,438.9 | 1,608.8 | (169.9) | (10.6) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee compensation | Employee compensation | 407.2 | 487.0 | (79.8) | (16.4) | % | 840.1 | 976.2 | (136.1) | (13.9) | % | Employee compensation | 420.8 | 476.7 | (55.9) | (11.7) | % | 1,260.9 | 1,452.9 | (192.0) | (13.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Marketing | Marketing | 33.8 | 24.5 | 9.3 | 38.0 | % | 55.5 | 40.3 | 15.2 | 37.7 | % | Marketing | 27.6 | 20.3 | 7.3 | 36.0 | % | 83.1 | 60.6 | 22.5 | 37.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, office and technology | Property, office and technology | 135.0 | 127.2 | 7.8 | 6.1 | % | 267.0 | 256.5 | 10.5 | 4.1 | % | Property, office and technology | 133.2 | 134.2 | (1.0) | (0.7) | % | 400.2 | 390.7 | 9.5 | 2.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General and administrative | General and administrative | 119.7 | 103.3 | 16.4 | 15.9 | % | 221.9 | 199.9 | 22.0 | 11.0 | % | General and administrative | 48.7 | 105.0 | (56.3) | (53.6) | % | 270.6 | 304.9 | (34.3) | (11.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction, integration and restructuring | Transaction, integration and restructuring | 0.2 | (47.1) | 47.3 | N/A | 35.4 | (1.3) | 36.7 | N/A | Transaction, integration and restructuring | (0.6) | (12.0) | 11.4 | (95.0) | % | 34.8 | (13.3) | 48.1 | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangibles | Amortization of intangibles | 14.8 | 16.0 | (1.2) | (7.5) | % | 29.9 | 31.9 | (2.0) | (6.3) | % | Amortization of intangibles | 14.5 | 15.6 | (1.1) | (7.1) | % | 44.4 | 47.5 | (3.1) | (6.5) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total operating expenses | Total operating expenses | 1,185.7 | 1,250.5 | (64.8) | (5.2) | % | 2,437.4 | 2,565.9 | (128.5) | (5.0) | % | Total operating expenses | 1,095.5 | 1,286.2 | (190.7) | (14.8) | % | 3,532.9 | 3,852.1 | (319.2) | (8.3) | % |
$ in millions | Three months ended June 30, 2022 | % of Total Operating Expenses | % of Operating Revenues | Three months ended June 30, 2021 | % of Total Operating Expenses | % of Operating Revenues | |||||||||||||||||||||||||||||
Third-party distribution, service and advisory | 475.0 | 40.1 | % | 31.0 | % | 539.6 | 43.2 | % | 31.3 | % | |||||||||||||||||||||||||
Employee compensation | 407.2 | 34.3 | % | 26.6 | % | 487.0 | 38.9 | % | 28.3 | % | |||||||||||||||||||||||||
Marketing | 33.8 | 2.9 | % | 2.2 | % | 24.5 | 2.0 | % | 1.4 | % | |||||||||||||||||||||||||
Property, office and technology | 135.0 | 11.4 | % | 8.8 | % | 127.2 | 10.2 | % | 7.4 | % | |||||||||||||||||||||||||
General and administrative | 119.7 | 10.1 | % | 7.8 | % | 103.3 | 8.3 | % | 6.0 | % | |||||||||||||||||||||||||
Transaction, integration and restructuring | 0.2 | — | % | — | % | (47.1) | (3.8) | % | (2.7) | % | |||||||||||||||||||||||||
Amortization of intangibles | 14.8 | 1.2 | % | 1.0 | % | 16.0 | 1.2 | % | 0.9 | % | |||||||||||||||||||||||||
Total operating expenses | 1,185.7 | 100.0 | % | 77.4 | % | 1,250.5 | 100.0 | % | 72.6 | % |
$ in millions | $ in millions | Six months ended June 30, 2022 | % of Total Operating Expenses | % of Operating Revenues | Six months ended June 30, 2021 | % of Total Operating Expenses | % of Operating Revenues | $ in millions | Three months ended September 30, 2022 | % of Total Operating Expenses | % of Operating Revenues | Three months ended September 30, 2021 | % of Total Operating Expenses | % of Operating Revenues | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third-party distribution, service and advisory | Third-party distribution, service and advisory | 987.6 | 40.5 | % | 31.3 | % | 1,062.4 | 41.5 | % | 31.4 | % | Third-party distribution, service and advisory | 451.3 | 41.2 | % | 31.2 | % | 546.4 | 42.5 | % | 31.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Employee compensation | Employee compensation | 840.1 | 34.5 | % | 26.6 | % | 976.2 | 38.0 | % | 28.9 | % | Employee compensation | 420.8 | 38.4 | % | 29.1 | % | 476.7 | 37.1 | % | 27.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Marketing | Marketing | 55.5 | 2.3 | % | 1.8 | % | 40.3 | 1.6 | % | 1.2 | % | Marketing | 27.6 | 2.5 | % | 1.9 | % | 20.3 | 1.6 | % | 1.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Property, office and technology | Property, office and technology | 267.0 | 11.0 | % | 8.4 | % | 256.5 | 10.0 | % | 7.6 | % | Property, office and technology | 133.2 | 12.2 | % | 9.2 | % | 134.2 | 10.4 | % | 7.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
General and administrative | General and administrative | 221.9 | 9.1 | % | 7.0 | % | 199.9 | 7.8 | % | 5.9 | % | General and administrative | 48.7 | 4.4 | % | 3.4 | % | 105.0 | 8.2 | % | 6.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Transaction, integration and restructuring | Transaction, integration and restructuring | 35.4 | 1.5 | % | 1.1 | % | (1.3) | (0.1) | % | — | % | Transaction, integration and restructuring | (0.6) | (0.1) | % | — | % | (12.0) | (0.9) | % | (0.7) | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangibles | Amortization of intangibles | 29.9 | 1.1 | % | 0.9 | % | 31.9 | 1.2 | % | 0.9 | % | Amortization of intangibles | 14.5 | 1.4 | % | 1.0 | % | 15.6 | 1.1 | % | 0.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Total operating expenses | Total operating expenses | 2,437.4 | 100.0 | % | 77.1 | % | 2,565.9 | 100.0 | % | 75.9 | % | Total operating expenses | 1,095.5 | 100.0 | % | 75.8 | % | 1,286.2 | 100.0 | % | 73.5 | % |
$ in millions | Nine months ended September 30, 2022 | % of Total Operating Expenses | % of Operating Revenues | Nine months ended September 30, 2021 | % of Total Operating Expenses | % of Operating Revenues | |||||||||||||||||||||||||||||
Third-party distribution, service and advisory | 1,438.9 | 40.7 | % | 31.2 | % | 1,608.8 | 41.8 | % | 31.4 | % | |||||||||||||||||||||||||
Employee compensation | 1260.9 | 35.7 | % | 27.4 | % | 1,452.9 | 37.7 | % | 28.3 | % | |||||||||||||||||||||||||
Marketing | 83.1 | 2.4 | % | 1.8 | % | 60.6 | 1.6 | % | 1.2 | % | |||||||||||||||||||||||||
Property, office and technology | 400.2 | 11.3 | % | 8.7 | % | 390.7 | 10.1 | % | 7.6 | % | |||||||||||||||||||||||||
General and administrative | 270.6 | 7.7 | % | 5.9 | % | 304.9 | 7.9 | % | 5.9 | % | |||||||||||||||||||||||||
Transaction, integration and restructuring | 34.8 | 1.0 | % | 0.8 | % | (13.3) | (0.3) | % | (0.3) | % | |||||||||||||||||||||||||
Amortization of intangibles | 44.4 | 1.2 | % | 1.0 | % | 47.5 | 1.2 | % | 0.9 | % | |||||||||||||||||||||||||
Total operating expenses | 3,532.9 | 100.0 | % | 76.8 | % | 3,852.1 | 100.0 | % | 75.0 | % |
Variance | Variance | Variance | Variance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | 2022 vs 2021 | Six months ended June 30, | 2022 vs 2021 | Three months ended September 30, | 2022 vs 2021 | Nine months ended September 30, | 2022 vs 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | 2022 | 2021 | $ Change | % Change | 2022 | 2021 | $ Change | % Change | $ in millions | 2022 | 2021 | $ Change | % Change | 2022 | 2021 | $ Change | % Change | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity in earnings of unconsolidated affiliates | Equity in earnings of unconsolidated affiliates | 24.7 | 37.2 | (12.5) | (33.6) | % | 58.1 | 64.7 | (6.6) | (10.2) | % | Equity in earnings of unconsolidated affiliates | 20.2 | 54.6 | (34.4) | (63.0) | % | 78.3 | 119.3 | (41.0) | (34.4) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest and dividend income | Interest and dividend income | 2.1 | 0.4 | 1.7 | 425.0 | % | 3.3 | 1.7 | 1.6 | 94.1 | % | Interest and dividend income | 3.3 | 1.9 | 1.4 | 73.7 | % | 6.6 | 3.6 | 3.0 | 83.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | Interest expense | (25.8) | (24.6) | (1.2) | 4.9 | % | (49.0) | (48.4) | (0.6) | 1.2 | % | Interest expense | (18.6) | (23.1) | 4.5 | (19.5) | % | (67.6) | (71.5) | 3.9 | (5.5) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other gains/(losses), net | Other gains/(losses), net | (90.0) | 43.4 | (133.4) | N/A | (135.5) | 77.5 | (213.0) | N/A | Other gains/(losses), net | (34.6) | (12.1) | (22.5) | 186.0 | % | (170.1) | 65.4 | (235.5) | N/A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other income/(expense) of CIP, net | Other income/(expense) of CIP, net | 26.2 | 122.0 | (95.8) | (78.5) | % | 2.9 | 216.7 | (213.8) | (98.7) | % | Other income/(expense) of CIP, net | (65.4) | 200.2 | (265.6) | N/A | (62.5) | 416.9 | (479.4) | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total other income and expenses | Total other income and expenses | (62.8) | 178.4 | (241.2) | N/A | (120.2) | 312.2 | (432.4) | N/A | Total other income and expenses | (95.1) | 221.5 | (316.6) | N/A | (215.3) | 533.7 | (749.0) | N/A |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | 2022 | 2021 | 2022 | 2021 | $ in millions | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating revenues, U.S. GAAP basis | Operating revenues, U.S. GAAP basis | 1,530.4 | 1,721.4 | 3,159.8 | 3,381.1 | Operating revenues, U.S. GAAP basis | 1,445.7 | 1,750.0 | 4,605.5 | 5,131.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Great Wall (1) | 106.1 | 110.9 | 230.2 | 214.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue Adjustments (2) | Revenue Adjustments (2) | Revenue Adjustments (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment management fees | Investment management fees | (193.1) | (212.8) | (399.0) | (416.0) | Investment management fees | (185.5) | (216.3) | (584.5) | (632.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service and distribution fees | Service and distribution fees | (240.3) | (269.7) | (498.0) | (531.2) | Service and distribution fees | (232.1) | (278.0) | (730.1) | (809.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | (41.6) | (57.1) | (90.6) | (115.2) | Other | (33.7) | (52.1) | (124.3) | (167.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenue Adjustments | Total Revenue Adjustments | (475.0) | (539.6) | (987.6) | (1,062.4) | Total Revenue Adjustments | (451.3) | (546.4) | (1,438.9) | (1,608.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Great Wall (1) | Invesco Great Wall (1) | 104.6 | 118.7 | 334.8 | 333.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIP (3) | CIP (3) | 12.4 | 10.2 | 23.9 | 20.3 | CIP (3) | 11.6 | 11.2 | 35.5 | 31.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net revenues | Net revenues | 1,173.9 | 1,302.9 | 2,426.3 | 2,553.9 | Net revenues | 1,110.6 | 1,333.5 | 3,536.9 | 3,887.4 |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | 2022 | 2021 | 2022 | 2021 | $ in millions | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating income, U.S. GAAP basis | Operating income, U.S. GAAP basis | 344.7 | 470.9 | 722.4 | 815.2 | Operating income, U.S. GAAP basis | 350.2 | 463.8 | 1,072.6 | 1,279.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Great Wall (1) | Invesco Great Wall (1) | 62.2 | 62.0 | 135.9 | 128.5 | Invesco Great Wall (1) | 61.8 | 70.4 | 197.7 | 198.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIP (3) | CIP (3) | 16.1 | 19.2 | 30.9 | 36.2 | CIP (3) | 15.7 | 20.7 | 46.6 | 56.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction, integration and restructuring (4) | Transaction, integration and restructuring (4) | 0.2 | (47.1) | 35.4 | (1.3) | Transaction, integration and restructuring (4) | (0.6) | (12.0) | 34.8 | (13.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets (5) | Amortization of intangible assets (5) | 14.8 | 16.0 | 29.9 | 31.9 | Amortization of intangible assets (5) | 14.5 | 15.6 | 44.4 | 47.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Compensation expense related to market valuation changes in deferred compensation plans (6) | Compensation expense related to market valuation changes in deferred compensation plans (6) | (26.1) | 19.5 | (48.0) | 33.0 | Compensation expense related to market valuation changes in deferred compensation plans (6) | (12.2) | 3.1 | (60.2) | 36.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General and administrative (7) | General and administrative (7) | (60.0) | — | (60.0) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted operating income | Adjusted operating income | 411.9 | 540.5 | 906.5 | 1,043.5 | Adjusted operating income | 369.4 | 561.6 | 1,275.9 | 1,605.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating margin* | Operating margin* | 22.5 | % | 27.4 | % | 22.9 | % | 24.1 | % | Operating margin* | 24.2 | % | 26.5 | % | 23.3 | % | 24.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted operating margin** | Adjusted operating margin** | 35.1 | % | 41.5 | % | 37.4 | % | 40.9 | % | Adjusted operating margin** | 33.3 | % | 42.1 | % | 36.1 | % | 41.3 | % |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions, except per common share data | $ in millions, except per common share data | 2022 | 2021 | 2022 | 2021 | $ in millions, except per common share data | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to Invesco Ltd., U.S. GAAP basis | Net income attributable to Invesco Ltd., U.S. GAAP basis | 121.0 | 368.3 | 318.7 | 636.1 | Net income attributable to Invesco Ltd., U.S. GAAP basis | 177.4 | 330.1 | 496.1 | 966.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction, integration and restructuring, net of tax (4) | Transaction, integration and restructuring, net of tax (4) | 0.2 | (34.8) | 27.2 | 0.3 | Transaction, integration and restructuring, net of tax (4) | (0.4) | (8.7) | 26.8 | (8.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and related tax benefits (5) | Amortization of intangible assets and related tax benefits (5) | 18.6 | 21.8 | 37.4 | 43.6 | Amortization of intangible assets and related tax benefits (5) | 18.3 | 21.3 | 55.7 | 64.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred compensation plan market valuation changes and dividend income less compensation expense, net of tax (6) | Deferred compensation plan market valuation changes and dividend income less compensation expense, net of tax (6) | 40.5 | (7.6) | 56.3 | (9.5) | Deferred compensation plan market valuation changes and dividend income less compensation expense, net of tax (6) | 13.0 | 9.4 | 69.3 | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other reconciling items, net of tax (7) | — | 17.0 | — | 10.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in contingent consideration, net of tax | Change in contingent consideration, net of tax | — | — | — | (6.2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General and administrative, net of tax (7) | General and administrative, net of tax (7) | (45.7) | — | (45.7) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of tax rate changes (8) | Impact of tax rate changes (8) | (6.8) | 6.5 | (6.8) | 23.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted net income attributable to Invesco Ltd. | Adjusted net income attributable to Invesco Ltd. | 180.3 | 364.7 | 439.6 | 681.3 | Adjusted net income attributable to Invesco Ltd. | 155.8 | 358.6 | 595.4 | 1,039.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average common shares outstanding - diluted | Average common shares outstanding - diluted | 459.5 | 466.2 | 460.7 | 465.3 | Average common shares outstanding - diluted | 459.5 | 466.0 | 460.0 | 465.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diluted EPS | Diluted EPS | $0.26 | $0.79 | $0.69 | $1.37 | Diluted EPS | $0.39 | $0.71 | $1.08 | $2.08 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted diluted EPS*** | Adjusted diluted EPS*** | $0.39 | $0.78 | $0.95 | $1.46 | Adjusted diluted EPS*** | $0.34 | $0.77 | $1.29 | $2.23 |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||||||||||||||
$ in millions | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||
Market movement on deferred compensation plan liabilities: | |||||||||||||||||||||||||||||||||||
Compensation expense related to market valuation changes in deferred compensation liability | (26.1) | 19.5 | (48.0) | 33.0 | |||||||||||||||||||||||||||||||
Adjustments to operating income | (26.1) | 19.5 | (48.0) | 33.0 | |||||||||||||||||||||||||||||||
Market valuation changes and dividend income from investments and instruments held to hedge the deferred compensation plans in other income/(expense) | 78.6 | (29.4) | 121.0 | (45.3) | |||||||||||||||||||||||||||||||
Taxation: | |||||||||||||||||||||||||||||||||||
Taxation on the net impact of the above adjustments | (12.0) | 2.3 | (16.7) | 2.8 | |||||||||||||||||||||||||||||||
Adjustments to net income attributable to Invesco Ltd. | 40.5 | (7.6) | 56.3 | (9.5) |
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||||
$ in millions | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||
Market movement on deferred compensation plan liabilities: | |||||||||||||||||||||||||||||||||||
Compensation expense related to market valuation changes in deferred compensation liability | (12.2) | 3.1 | (60.2) | 36.1 | |||||||||||||||||||||||||||||||
Adjustments to operating income | (12.2) | 3.1 | (60.2) | 36.1 | |||||||||||||||||||||||||||||||
Market valuation changes and dividend income from investments and instruments held to hedge the deferred compensation plans reflected in other income/(expense) | 29.1 | 9.1 | 150.1 | (36.2) | |||||||||||||||||||||||||||||||
Taxation on the net impact of the above adjustments | (3.9) | (2.8) | (20.6) | — | |||||||||||||||||||||||||||||||
Adjustments to net income attributable to Invesco Ltd. | 13.0 | 9.4 | 69.3 | (0.1) |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||||||||||||||
$ in millions | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||
Other non-GAAP adjustments: | |||||||||||||||||||||||||||||||||||
Change in contingent consideration estimates | — | — | — | (8.1) | |||||||||||||||||||||||||||||||
Taxation: | |||||||||||||||||||||||||||||||||||
Impact of tax rate changes (c) | — | 17.0 | — | 17.0 | |||||||||||||||||||||||||||||||
Taxation on change in consideration estimates | — | — | — | 1.9 | |||||||||||||||||||||||||||||||
Adjustments to net income attributable to Invesco Ltd. | — | 17.0 | — | 10.8 |
As of June 30, 2022 | As of December 31, 2021 | As of September 30, 2022 | As of December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance sheet information $ in millions | Balance sheet information $ in millions | U.S. GAAP | Impact of CIP | Impact of Policyholders | As Adjusted | U.S. GAAP | Impact of CIP | Impact of Policyholders | As Adjusted | Balance sheet information $ in millions | U.S. GAAP | Impact of CIP | Impact of Policyholders | As Adjusted | U.S. GAAP | Impact of CIP | Impact of Policyholders | As Adjusted | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | ASSETS | ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | 936.8 | — | — | 936.8 | 1,896.4 | — | — | 1,896.4 | Cash and cash equivalents | 1,023.6 | — | — | 1,023.6 | 1,896.4 | — | — | 1,896.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments | Investments | 884.6 | (448.2) | — | 1,332.8 | 926.3 | (454.8) | — | 1,381.1 | Investments | 906.7 | (433.7) | — | 1,340.4 | 926.3 | (454.8) | — | 1,381.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets of CIP: | Assets of CIP: | Assets of CIP: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments and other assets of CIP | Investments and other assets of CIP | 9,007.9 | 9,007.9 | — | — | 9,575.1 | 9,575.1 | — | — | Investments and other assets of CIP | 8,675.7 | 8,675.7 | — | — | 9,575.1 | 9,575.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents of CIP | Cash and cash equivalents of CIP | 196.0 | 196.0 | — | — | 250.7 | 250.7 | — | — | Cash and cash equivalents of CIP | 202.4 | 202.4 | — | — | 250.7 | 250.7 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets held for policyholders | Assets held for policyholders | 1,067.7 | — | 1,067.7 | — | 1,893.6 | — | 1,893.6 | — | Assets held for policyholders | 754.3 | — | 754.3 | — | 1,893.6 | — | 1,893.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and intangible assets, net | Goodwill and intangible assets, net | 15,820.6 | — | — | 15,820.6 | 16,110.5 | — | — | 16,110.5 | Goodwill and intangible assets, net | 15,551.8 | — | — | 15,551.8 | 16,110.5 | — | — | 16,110.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other assets (2) | Other assets (2) | 2,273.1 | (8.4) | — | 2,281.5 | 2,033.0 | (6.4) | — | 2,039.4 | Other assets (2) | 2,157.4 | (9.9) | — | 2,167.3 | 2,033.0 | (6.4) | — | 2,039.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | Total assets | 30,186.7 | 8,747.3 | 1,067.7 | 20,371.7 | 32,685.6 | 9,364.6 | 1,893.6 | 21,427.4 | Total assets | 29,271.9 | 8,434.5 | 754.3 | 20,083.1 | 32,685.6 | 9,364.6 | 1,893.6 | 21,427.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES | LIABILITIES | LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities of CIP: | Liabilities of CIP: | Liabilities of CIP: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt of CIP | Debt of CIP | 6,731.1 | 6,731.1 | — | — | 7,336.1 | 7,336.1 | — | — | Debt of CIP | 6,548.7 | 6,548.7 | — | — | 7,336.1 | 7,336.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other liabilities of CIP | Other liabilities of CIP | 443.0 | 443.0 | — | — | 846.3 | 846.3 | — | — | Other liabilities of CIP | 286.7 | 286.7 | — | — | 846.3 | 846.3 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Policyholder payables | Policyholder payables | 1,067.7 | — | 1,067.7 | — | 1,893.6 | — | 1,893.6 | — | Policyholder payables | 754.3 | — | 754.3 | — | 1,893.6 | — | 1,893.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt | Debt | 1,671.2 | — | — | 1,671.2 | 2,085.1 | — | — | 2,085.1 | Debt | 1,487.1 | — | — | 1,487.1 | 2,085.1 | — | — | 2,085.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other liabilities (3) | Other liabilities (3) | 3,586.1 | — | — | 3,586.1 | 3,845.7 | — | — | 3,845.7 | Other liabilities (3) | 3,691.6 | — | — | 3,691.6 | 3,845.7 | — | — | 3,845.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | 13,499.1 | 7,174.1 | 1,067.7 | 5,257.3 | 16,006.8 | 8,182.4 | 1,893.6 | 5,930.8 | Total liabilities | 12,768.4 | 6,835.4 | 754.3 | 5,178.7 | 16,006.8 | 8,182.4 | 1,893.6 | 5,930.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EQUITY | EQUITY | EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total equity attributable to Invesco Ltd. | Total equity attributable to Invesco Ltd. | 15,113.7 | (0.1) | — | 15,113.8 | 15,495.8 | (0.1) | — | 15,495.9 | Total equity attributable to Invesco Ltd. | 14,903.7 | (0.1) | — | 14,903.8 | 15,495.8 | (0.1) | — | 15,495.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interests (4) | Noncontrolling interests (4) | 1,573.9 | 1,573.3 | — | 0.6 | 1,183.0 | 1,182.3 | — | 0.7 | Noncontrolling interests (4) | 1,599.8 | 1,599.2 | — | 0.6 | 1,183.0 | 1,182.3 | — | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total equity | Total equity | 16,687.6 | 1,573.2 | — | 15,114.4 | 16,678.8 | 1,182.2 | — | 15,496.6 | Total equity | 16,503.5 | 1,599.1 | — | 14,904.4 | 16,678.8 | 1,182.2 | — | 15,496.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and equity | Total liabilities and equity | 30,186.7 | 8,747.3 | 1,067.7 | 20,371.7 | 32,685.6 | 9,364.6 | 1,893.6 | 21,427.4 | Total liabilities and equity | 29,271.9 | 8,434.5 | 754.3 | 20,083.1 | 32,685.6 | 9,364.6 | 1,893.6 | 21,427.4 |
As of | As of | |||||||||||||||||||||
$ in millions | $ in millions | June 30, 2022 | December 31, 2021 | $ in millions | September 30, 2022 | December 31, 2021 | ||||||||||||||||
Investments | Investments | 884.6 | 926.3 | Investments | 906.7 | 926.3 | ||||||||||||||||
Net interest in consolidated investment products (1) | Net interest in consolidated investment products (1) | 448.2 | 454.8 | Net interest in consolidated investment products (1) | 433.7 | 454.8 | ||||||||||||||||
Less: Investments related to deferred compensation plans, joint ventures, and other investments | Less: Investments related to deferred compensation plans, joint ventures, and other investments | (434.6) | (524.4) | Less: Investments related to deferred compensation plans, joint ventures, and other investments | (428.6) | (524.4) | ||||||||||||||||
Total seed capital and co-investments (2) | Total seed capital and co-investments (2) | 898.2 | 856.7 | Total seed capital and co-investments (2) | 911.8 | 856.7 |
Cash flows information (1) | Cash flows information (1) | Six months ended June 30, 2022 | Six months ended June 30, 2021 | Cash flows information (1) | Nine months ended September 30, 2022 | Nine months ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | $ in millions | U.S. GAAP | Impact of CIP | Excluding CIP | U.S. GAAP | Impact of CIP | Excluding CIP | $ in millions | U.S. GAAP | Impact of CIP | Excluding CIP | U.S. GAAP | Impact of CIP | Excluding CIP | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash, cash equivalents and restricted cash, beginning of the period (2) | Cash, cash equivalents and restricted cash, beginning of the period (2) | 2,147.1 | 250.7 | 1,896.4 | 1,839.3 | 301.7 | 1,537.6 | Cash, cash equivalents and restricted cash, beginning of the period (2) | 2,147.1 | 250.7 | 1,896.4 | 1,839.3 | 301.7 | 1,537.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities (1) | Cash flows from operating activities (1) | (252.3) | (407.2) | 154.9 | 480.8 | (120.4) | 601.2 | Cash flows from operating activities (1) | 239.7 | (452.7) | 692.4 | 1,081.8 | (141.2) | 1,223.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities | Cash flows from investing activities | (155.8) | (38.3) | (117.5) | (223.7) | (169.0) | (54.7) | Cash flows from investing activities | (238.0) | (53.6) | (184.4) | (588.1) | (519.2) | (68.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities | Cash flows from financing activities | (533.0) | 398.6 | (931.6) | (344.9) | 396.5 | (741.4) | Cash flows from financing activities | (798.8) | 468.0 | (1,266.8) | 14.2 | 904.1 | (889.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase/(decrease) in cash and cash equivalents | Increase/(decrease) in cash and cash equivalents | (941.1) | (46.9) | (894.2) | (87.8) | 107.1 | (194.9) | Increase/(decrease) in cash and cash equivalents | (797.1) | (38.3) | (758.8) | 507.9 | 243.7 | 264.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange movement on cash and cash equivalents | Foreign exchange movement on cash and cash equivalents | (73.2) | (7.8) | (65.4) | (14.4) | (4.7) | (9.7) | Foreign exchange movement on cash and cash equivalents | (124.0) | (10.0) | (114.0) | (37.7) | (9.1) | (28.6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash, cash equivalents and restricted cash, end of the period (2) | Cash, cash equivalents and restricted cash, end of the period (2) | 1,132.8 | 196.0 | 936.8 | 1,737.1 | 404.1 | 1,333.0 | Cash, cash equivalents and restricted cash, end of the period (2) | 1,226.0 | 202.4 | 1,023.6 | 2,309.5 | 536.3 | 1,773.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | 936.8 | — | 936.8 | 1,333.0 | — | 1,333.0 | Cash and cash equivalents | 1,023.6 | — | 1,023.6 | 1,773.2 | — | 1,773.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents of CIP | Cash and cash equivalents of CIP | 196.0 | 196.0 | — | 404.1 | 404.1 | — | Cash and cash equivalents of CIP | 202.4 | 202.4 | — | 536.3 | 536.3 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total cash, cash and cash equivalents per condensed consolidated statement of cash flows | Total cash, cash and cash equivalents per condensed consolidated statement of cash flows | 1,132.8 | 196.0 | 936.8 | 1,737.1 | 404.1 | 1,333.0 | Total cash, cash and cash equivalents per condensed consolidated statement of cash flows | 1,226.0 | 202.4 | 1,023.6 | 2,309.5 | 536.3 | 1,773.2 |
$ in millions | $ in millions | June 30, 2022 | December 31, 2021 | $ in millions | September 30, 2022 | December 31, 2021 | ||||||||||||||||
$1.5 billion floating rate credit facility expiring April 26, 2026 | $1.5 billion floating rate credit facility expiring April 26, 2026 | 184.6 | — | $1.5 billion floating rate credit facility expiring April 26, 2026 | — | — | ||||||||||||||||
Unsecured Senior Notes: | Unsecured Senior Notes: | Unsecured Senior Notes: | ||||||||||||||||||||
$600 million 3.125% - due November 30, 2022 | $600 million 3.125% - due November 30, 2022 | — | 599.4 | $600 million 3.125% - due November 30, 2022 | — | 599.4 | ||||||||||||||||
$600 million 4.000% - due January 30, 2024 | $600 million 4.000% - due January 30, 2024 | 598.3 | 597.8 | $600 million 4.000% - due January 30, 2024 | 598.6 | 597.8 | ||||||||||||||||
$500 million 3.750% - due January 15, 2026 | $500 million 3.750% - due January 15, 2026 | 497.6 | 497.3 | $500 million 3.750% - due January 15, 2026 | 497.8 | 497.3 | ||||||||||||||||
$400 million 5.375% - due November 30, 2043 | $400 million 5.375% - due November 30, 2043 | 390.7 | 390.6 | $400 million 5.375% - due November 30, 2043 | 390.7 | 390.6 | ||||||||||||||||
Debt | Debt | 1,671.2 | 2,085.1 | Debt | 1,487.1 | 2,085.1 |
$ in millions | $ in millions | Total | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | $ in millions | Total | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to Invesco Ltd. | Net income attributable to Invesco Ltd. | 1,075.6 | 121.0 | 197.7 | 426.8 | 330.1 | Net income attributable to Invesco Ltd. | 922.9 | 177.4 | 121.0 | 197.7 | 426.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Dividends on preferred shares | Dividends on preferred shares | 236.8 | 59.2 | 59.2 | 59.2 | 59.2 | Dividends on preferred shares | 236.8 | 59.2 | 59.2 | 59.2 | 59.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Tax expense | Tax expense | 416.2 | 63.0 | 82.8 | 130.7 | 139.7 | Tax expense | 363.3 | 86.8 | 63.0 | 82.8 | 130.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Amortization/depreciation | Amortization/depreciation | 200.2 | 49.3 | 49.5 | 50.4 | 51.0 | Amortization/depreciation | 197.1 | 47.9 | 49.3 | 49.5 | 50.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | Interest expense | 95.3 | 25.8 | 23.2 | 23.2 | 23.1 | Interest expense | 90.8 | 18.6 | 25.8 | 23.2 | 23.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Common share-based compensation expense | Common share-based compensation expense | 124.4 | 27.6 | 29.5 | 34.1 | 33.2 | Common share-based compensation expense | 117.2 | 26.0 | 27.6 | 29.5 | 34.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Unrealized (gains)/losses from investments, net (1) | Unrealized (gains)/losses from investments, net (1) | 141.8 | 68.8 | 26.4 | 5.2 | 41.4 | Unrealized (gains)/losses from investments, net (1) | 125.0 | 24.6 | 68.8 | 26.4 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||
OppenheimerFunds acquisition-related matter (2) | (160.7) | (15.0) | — | (100.0) | (45.7) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
OppenheimerFunds acquisition-related matter insurance recoveries (2) | OppenheimerFunds acquisition-related matter insurance recoveries (2) | (130.0) | (15.0) | (15.0) | — | (100.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EBITDA (3) | EBITDA (3) | 2,129.6 | 399.7 | 468.3 | 629.6 | 632.0 | EBITDA (3) | 1,923.1 | 425.5 | 399.7 | 468.3 | 629.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Adjusted debt (3) | Adjusted debt (3) | $1,473.9 | Adjusted debt (3) | $1,289.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leverage ratio (Adjusted debt/EBITDA - maximum 3.25:1.00) | 0.69 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest coverage (EBITDA/Interest expense - minimum 4.00:1.00) | 22.35 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leverage ratio (Adjusted debt/EBITDA - maximum 4.00:1.00) | Leverage ratio (Adjusted debt/EBITDA - maximum 4.00:1.00) | 0.67 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest coverage (EBITDA/Interest expense - minimum 3.00:1.00) | Interest coverage (EBITDA/Interest expense - minimum 3.00:1.00) | 21.18 |
Month | Total Number of Shares Purchased (1) | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2) | Maximum Number at end of period (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (2) (millions) | |||||||||||||||||||
April 1-30, 2022 | 20,512 | $ | 22.27 | — | $532.2 | ||||||||||||||||||
May 1-31, 2022 | 61,689 | $ | 20.52 | — | $532.2 | ||||||||||||||||||
June 1-30, 2022 | 10,552 | $ | 17.38 | — | $532.2 | ||||||||||||||||||
Total | 92,753 | — |
Month | Total Number of Shares Purchased(1) | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2) | Maximum Number at end of period (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (2) (millions) | |||||||||||||||||||
July 1-31, 2022 | 397,821 | $16.29 | — | $532.2 | |||||||||||||||||||
August 1-31, 2022 | 69,742 | $16.64 | — | $532.2 | |||||||||||||||||||
September 1-30, 2022 | 75,539 | $15.11 | — | $532.2 | |||||||||||||||||||
Total | 543,102 | — |
3.1 | |||||
3.2 | |||||
3.3 | |||||
22 | |||||
31.1 | |||||
31.2 | |||||
32.1 | |||||
32.2 | |||||
101 | The following financial statements from the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, formatted in Inline XBRL (Extensible Business Reporting Language): (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Income, (iii) Condensed Consolidated Statements of Comprehensive Income, (iv) Condensed Consolidated Statements of Cash Flows, (v) Condensed Consolidated Statements of Changes in Equity, and (vi) Notes to Condensed Consolidated Financial Statements, tagged as blocks of text and including detailed tags. | ||||
104 | The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended |
INVESCO LTD. | |||||
/s/ MARTIN L. FLANAGAN | |||||
Martin L. Flanagan | |||||
President and Chief Executive Officer | |||||
/s/ L. ALLISON DUKES | |||||
L. Allison Dukes | |||||
Senior Managing Director and Chief Financial Officer |