Invesco notches 13th straight quarter of inflows and buys back $1.5 billion of preferred

Invesco posted its 13th straight quarter of net long-term inflows and widened its adjusted operating margin to 40.7%, and the asset manager said it has repurchased another $1.5 billion of preferred stock from MassMutual using a new bank term loan.

Net long-term inflows reached $35.1 billion in the third quarter, led by ETFs and index products, QQQ, multi-asset and its China joint venture, according to the earnings release attached to its 8-K on Tuesday. Ending assets under management were $2.5 trillion.

Diluted EPS was $0.65, down from $0.76 in the second quarter, and adjusted diluted EPS was $0.72, up from $0.71 and from $0.61 a year earlier. Adjusted net revenue rose 4% from the prior quarter to $1.382 billion, and adjusted operating income rose 12.8% to $562.3 million.

"This marks our 13th consecutive quarter of net long-term inflows," President and CEO Andrew Schlossberg said, citing 6% annualized organic growth.

MassMutual preferred buyback

Invesco agreed on Oct. 23 to buy back $1.5 billion of its 5.9% Series A preference shares from MassMutual, paying a 12.5% premium on the $1,000-per-share liquidation preference, and the repurchase closed Oct. 26, according to a separate 8-K. It was funded with a $1.5 billion unsecured five-year term loan maturing Oct. 26, 2031, with Bank of America as administrative agent. The loan can be increased to $2.0 billion.

Schlossberg said the deal brings total preferred repurchases to $3 billion over the past 18 months and leaves $1 billion outstanding. MassMutual owns about 18.5% of Invesco's common stock, the 8-K said.

Invesco also reduced net debt by $393 million in the quarter and bought back $65 million, or 2.1 million shares, of common stock.

By the numbers

• Net long-term inflows: $35.1 billion
• Ending AUM: $2.5 trillion
• Adjusted EPS: $0.72
• Adjusted operating margin: 40.7%
• Preferred repurchased: $1.5 billion, funded by a five-year term loan

Sources

1. Invesco Ltd., Form 8-K with third quarter 2026 earnings release, filed Oct. 27, 2026 (accession 0000914208-26-000370)
2. Invesco Ltd., Form 8-K on Series A preferred share repurchase from MassMutual and term loan agreement, filed Oct. 27, 2026 (accession 0000914208-26-000367)

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