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# Invesco Takes In $35.1 Billion Of Long-Term Inflows, Then Retires $1.5 Billion More MassMutual Preferred
- URL: https://www.bullished.co/invesco-takes-in-35-1-billion-of-long-term-inflows-then-retires-1-5-billion-more-920489fc/
- Published: 2026-10-27T11:21:24.000Z
- Updated: 2026-10-27T11:21:24.000Z
- Description: The asset manager's adjusted operating margin widened to 40.7% while it funded the preferred buyback with a new five-year term loan.
- Author: Matteo Parrino
- Tags: SEC Filings, IVZ, Industry: Financials

[Invesco](https://www.bullished.co/tag/ivz/), which runs funds and investment strategies for retail and institutional clients, took in [$35.1 billion](https://www.sec.gov/Archives/edgar/data/0000914208/000091420826000370/ivzpressrelease3q2026.htm?ref=bullished.co) of net long-term inflows in the third quarter, down from $45.1 billion in the second, the company said Tuesday in an [8-K](https://www.sec.gov/Archives/edgar/data/0000914208/000091420826000370/ivz-20261027.htm?ref=bullished.co). On October 26 it also bought back $1.5 billion of its Series A preferred stock from MassMutual, paid for with a five-year floating-rate bank term loan.

## Earnings dip, adjusted profit edges up

Diluted earnings per share were $0.65, down from $0.76 in the second quarter and $0.66 a year earlier. On an adjusted basis, earnings were $0.72, against $0.71 in the second quarter and $0.61 a year ago.

Operating revenue rose to $1,873.2 million from $1,640.4 million in the third quarter of 2025\. The adjusted operating margin widened to 40.7% from 37.5% in the second quarter and 34.2% a year earlier; the standard-accounting operating margin was 23.3%.

Ending assets under management reached $2,537.8 billion, up 2.7% from the second quarter. Average assets rose 6.0%, which the company credited for higher management fees.

## ETFs and QQQ lead the flows

ETFs and Index brought in $28.5 billion and QQQ $6.7 billion. Multi-Asset/Other added $3.3 billion and the China joint venture $1.5 billion. Fundamental Fixed Income lost $2.6 billion, Fundamental Equities $1.9 billion and Private Markets $0.4 billion.

Retail clients added $41.7 billion, while institutional clients pulled out $6.6 billion. Money market funds took in $52.9 billion; CEO Andrew Schlossberg cited $47 billion of global liquidity inflows alongside the long-term figure. Market losses cut assets by $26.4 billion in the quarter.

Schlossberg said the quarter marked the company's 13th consecutive of net long-term inflows, with 6% annualized organic growth.

## Preferred buyback and a thinner debt load

The repurchase brings total buybacks of MassMutual-held preferred stock to $3 billion over the past 18 months and leaves $1 billion outstanding, Schlossberg said. He said it reduces leverage and increases earnings available to common shareholders.

Net debt fell to $315.8 million at September 30 from $708.6 million at June 30, and the company repurchased 2.1 million common shares for $65 million.

The board declared a common dividend of $0.215 a share, payable December 2 to holders of record on November 13\. Management holds its earnings call at 9:00 a.m. ET Tuesday.

The company said the $1.5 billion term loan funds the repurchase, leaving $1 billion of MassMutual's preferred stock still outstanding.

### Sources

- [8-K Filing — Invesco Ltd. (IVZ)](https://www.sec.gov/Archives/edgar/data/0000914208/000091420826000370/ivz-20261027.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit ivzpressrelease3q2026.htm — Invesco Ltd. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000914208/000091420826000370/ivzpressrelease3q2026.htm?ref=bullished.co) — SEC EDGAR
- [What Invesco (IVZ) Earnings Preview Means For Shareholders](https://finance.yahoo.com/markets/stocks/articles/invesco-ivz-earnings-preview-means-211023952.html?ref=bullished.co) — Yahoo Finance
- [Invesco (Mon.) | Nasdaq Dorsey Wright](https://dorseywright.nasdaq.com/research/powershares-etf-report?ref=bullished.co) — dorseywright.nasdaq.com

### More on Invesco

- [Invesco Takes On A $1.5 Billion Loan To Buy Back MassMutual's Preferred Stock At A 12.5% Premium](https://www.bullished.co/invesco-takes-on-a-1-5-billion-loan-to-buy-back-massmutuals-preferred-stock-at-a-12-5-7d7b5179/)
- [Invesco's Preliminary September AUM Fell 0.9% To $2,537.8 Billion, But Its Own Table Shows A Different Total](https://www.bullished.co/invescos-preliminary-september-aum-fell-0-9-to-2-537-8-billion-but-its-own-table-shows-a-889d87e3/)

[All Invesco (IVZ) coverage →](https://www.bullished.co/tag/ivz/)