Invesco is an independent global investment manager with approximately $2.2 trillion in AUM, serving retail and institutional clients across more than 120 countries. Invesco manages money across equities, fixed income, alternatives, and money markets, earning fees as a percentage of AUM. The retail channel (~70% of AUM) distributes products through third-party intermediaries — wirehouses, broker-dealers, banks, and financial advisors — while the institutional channel (~30%) sells directly to pension funds, sovereign wealth funds, and other large entities. Invesco's largest capability is its ETF and index platform, which crossed $1 trillion in AUM in 2025 and is anchored by the QQQ ETF (~$407B), one of the most widely held ETFs in the world tracking the Nasdaq-100. Other key capabilities include fundamental fixed income (~$312B), fundamental equities (~$298B), money markets (~$190B), the China joint venture Invesco Great Wall (~$133B), and private markets (~$131B). Fees vary by asset class — highest for active equities and alternatives, lowest for ETFs and index products — and Invesco's blended yield has been under pressure as AUM mix shifts toward lower-fee passive strategies. Key growth priorities include active ETFs, a fast-growing fixed income SMA platform, private markets expansion into the U.S. wealth channel via real estate and private credit products, and continued growth of Invesco Great Wall in China.