Invesco Ltd. (IVZ) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Invesco Ltd.

CIK: 914208 Ticker: IVZ

Press Release
For immediate release

Brandon Burke, Investor Relations    Graham Galt, Media Relations 
404-439-3468    404-439-3070

Invesco announces Combination with OppenheimerFunds,
$1.2 Billion Common Stock Buyback Program
and Reports Results for the Three Months Ended September 30, 2018

Atlanta, October 18, 2018 --- Invesco Ltd. (NYSE: IVZ) today announced a combination with OppenheimerFunds, a strategic partnership with Massachusetts Mutual Life Insurance Company (MassMutual) and a $1.2 billion common stock buyback program. Invesco also reported financial results for the three months ended September 30, 2018.

"The combination with OppenheimerFunds and the strategic partnership with MassMutual will meaningfully enhance our ability to meet client needs, accelerate growth and strengthen our business over the long term,” said Martin L. Flanagan, President and CEO of Invesco. “This is a compelling, highly strategic and accretive transaction for Invesco that will help us achieve a number of objectives: enhance our leadership in the US and global markets, deliver the outcomes clients seek, broaden our relevance among top clients, deliver strong financial results and continue attracting the best talent in the industry."

“We have long held OppenheimerFunds’ people and strong investment performance track record in high regard,” Mr. Flanagan continued. “OppenheimerFunds’ culture and commitment to high-conviction investing complement our own, and the combination will create significant opportunities for the talented professionals of both companies.”

"Based on the financial strength of the combined organization, we have initiated a $1.2 billion common stock buyback program that will be completed within the next two years."

Combination with OppenheimerFunds
Invesco and MassMutual announced today that they have entered into a definitive agreement, whereby Invesco will acquire MassMutual’s asset management affiliate, OppenheimerFunds, Inc. In turn, MassMutual and the OppenheimerFunds employee shareholders will receive a combination of common and preferred equity consideration, and MassMutual will become a significant shareholder in Invesco, with an approximate 15.5% stake.

This strategic transaction will bring Invesco’s total assets under management (AUM) to more than $1.2 trillion, making it the 13th largest global investment manager and sixth-largest US retail investment manager, further enhancing the company’s ability to meet client needs through its comprehensive range of high-conviction active, passive and alternative capabilities.

The highly complementary investment and distribution capabilities of Invesco and OppenheimerFunds will strengthen the combined organization’s ability to provide more relevant investment outcomes to an expanded number of institutional and retail clients in the US and around the globe. Both Invesco’s and OppenheimerFunds’ clients will benefit from the resulting combination, which will incorporate OppenheimerFunds’ high-performing investment capabilities, including a strong international and emerging markets equity franchise, and its powerful US third-party distribution platform, with Invesco’s strong and diversified product lineup and global presence, supported by solutions-driven and technology-enabled client outreach.


The following information was filed by Invesco Ltd. (IVZ) on Thursday, October 18, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Invesco Ltd.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Inside Invesco Ltd.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Accounting Policies
Accounting Policies (Details)
Accounting Policies (Policy)
Accounting Policies Accounting Policies (Tables)
Accounting Policies Impact Of Adoption Asu 2014-09 On The Condensed Consolidated Statements Of Income (Details)
Business Combinations
Business Combinations (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Consolidated Investment Products
Consolidated Investment Products (Balances Related To Cip) (Details)
Consolidated Investment Products (Beginning And Ending Fair Value Measurements For Level 3 Assets And Liabilities) (Details)
Consolidated Investment Products (Condensed Consolidating Statement Of Income Line Items Reflecting Impact Of Consolidation Of Investment Products Into The Condensed Consolidated Statements Of Income) (Details)
Consolidated Investment Products (Fair Value Hierarchy Levels Of Investments Held And Notes Issued By Consolidated Investment Products) (Details)
Consolidated Investment Products (Investments Measured At Nav As A Practical Expedient) (Details)
Consolidated Investment Products (Level 3 Valuation Techniques) (Details)
Consolidated Investment Products (Narrative) (Details)
Consolidated Investment Products (Tables)
Consolidated Investment Products (Vie Balance Sheets Consolidated In Period) (Details)
Earnings Per Share
Earnings Per Share (Calculation Of Earnings Per Share) (Details)
Earnings Per Share (Narrative) (Details)
Earnings Per Share (Tables)
Fair Value Of Assets And Liabilities
Fair Value Of Assets And Liabilities (Fair Value Of Financial Instruments Held By Consolidated Investments) (Details)
Fair Value Of Assets And Liabilities (Narrative) (Details)
Fair Value Of Assets And Liabilities (Reconciliation Of Balance, Fair Value Measurement, Level 3) (Details)
Fair Value Of Assets And Liabilities (Tables)
Fair Value Of Assets And Liabilities (Tri-Level Hierarchy, Carrying Value) (Details)
Investments (Breakdown Of Available-For-Sale Investments With Unrealized Losses) (Details)
Investments (Details Of Company Investments) (Details)
Investments (Gross Unrealized Holding Gains And Losses Recognized In Other Accumulated Comprehensive Income From Available-For-Sale Investments) (Details)
Investments (Narrative) (Details)
Investments (Realized Gains Losses Available-For-Sale Securities) (Details)
Investments (Tables)
Long-Term Debt
Long-Term Debt (Narrative) (Details)
Long-Term Debt (Schedule Of Long-Term Debt Instruments) (Details)
Long-Term Debt (Tables)
Other Comprehensive Income/(Loss)
Other Comprehensive Income/(Loss) (Accumulated Other Comprehensive Income) (Details)
Other Comprehensive Income/(Loss) (Tables)
Related Parties
Related Parties (Details)
Related Parties (Tables)
Revenue (Details)
Revenue Revenue
Revenue Revenue (Tables)
Share Capital
Share Capital (Movements In Shares Issued And Outstanding) (Details)
Share Capital (Tables)
Share-Based Compensation
Share-Based Compensation (Movements On Share Awards) (Details)
Share-Based Compensation (Narrative) (Details)
Share-Based Compensation (Tables)
Subsequent Events
Subsequent Events (Details)
Taxation (Narrative) (Details)
Ticker: IVZ
CIK: 914208
Form Type: 10-Q Quarterly Report
Accession Number: 0000914208-18-000411
Submitted to the SEC: Wed Oct 24 2018 2:53:00 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Investment Advice

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