Invesco (IVZ) Morgan Stanley US Financials Conference 2026 summary

Market environment and client trends

• May saw $19 billion in inflows, following $17–18 billion in April, reflecting strong and consistent investor demand across diversified products and regions.

• QQQ flows turned positive in Q2 after $11 billion outflows in Q1, driven by interest in the AI trade and Nasdaq-100 exposure.

• Strong demand for fixed income products and robust flows from Asia and Europe, with China and Japan as key contributors.

• ETF franchise, including QQQ, reached about $1.2 trillion in AUM, with ETFs maintaining positive flows throughout the year.

Growth initiatives and strategic focus

• Key growth drivers over the next 2–3 years include ETFs, personalization, Asia, and fixed income, with ETFs and Asia expected to be the largest contributors.

• Platform is more diversified than five years ago, reducing risk and dependence on any single segment.

• Personalization is a growing trend, expected to drive future flows, though not at the scale of ETFs in the near term.

ETF strategy and differentiation

• Over one-third of ETF launches have been active ETFs, with about 40 active ETFs totaling nearly $40 billion in AUM.

• Focus is on launching innovative, client-outcome-driven active ETFs rather than converting existing strategies.

• Success in active ETFs is driven by investment performance and innovative solutions, not just pricing.