Invesco Ltd

Good morning and thank you all for joining us. As a reminder, this conference call and the related presentation may include forward-looking statements, which reflect management's expectations about future events and overall operating plans and performance. These forward-looking statements are made as of today and are not guaranteed. They involve risks, uncertainties, and assumptions, and there can be no assurance that actual results will not differ materially from our expectations. For discussion of these risks and uncertainties, please see the risks described in our most recent Form 10-K and subsequent filings with the SEC. Invesco makes no obligation to update any forward-looking statement. We may also discuss non-GAAP financial measures during today's call. Reconciliations of these non-GAAP financial measures may be found at the end of our earnings presentation.

Welcome to Invesco's third quarter results conference call. All participants will be in a listen-only mode until the question and answer session. At that time, to ask a question, please press star 1. This call will last one hour. To allow more participants to ask questions, only one question and a follow-up can be submitted per participant. Today's conference is being recorded. If you have any objections, you may disconnect at this time. Now I would like to turn the call over to your speakers for today, Marty Flanagan, President and CEO of Invesco, and Allison Dukes, Chief Financial Officer. Mr. Flanagan, you may begin.

Thank you, operator. I appreciate it very much, and thanks, everybody, for joining us. And I'll make a few comments and turn over to Allison so she can read the quarter in more depth, and then we'll open up the Q&A as we always do. And hoping everybody's staying safe and healthy as we continue to return to normalcy, and I know we're all looking for that pace to continue in the months ahead. We continue to have a high level of engagement with our clients, which is even more important as we navigate the market uncertainty brought about by the end of economic and market upside surprises we experience from the depths of COVID. Helping our clients by providing insights and solutions, utilizing our broad range of capabilities. This approach has helped us deliver strong, consistent growth over the past five quarters. And as you can see on slide three, if you're following along on the deck, Net long-term flows were $13.3 billion during the quarter. This represents over 4% annualized long-term organic growth for the quarter. Growth was driven by continued strength in a number of our key capabilities, including ETFs, fixed income, China solutions, alternative global equities. Strategically, we continue to invest in areas where we see client demand with competitive strength. And since the third quarter of last year, we've generated $86 billion of long-term inflows and average quarterly organic growth rate of 6%. Five consecutive quarters of strong growth of the direct result of the investments we've made over time to enhance and evolve our business to meet client needs. ETFs, excluding the Qs, generated long-term inflows of $3.7 billion in the quarter, with strong market share gains in our EMEA ETF range. In private markets, we generated net long-term inflows in our direct real estate business of $1.2 billion, and robust bank loan product demand resulted in net long-term inflows of $2 billion during the quarter. This included a launch of a new CLO. We generated net long-term inflows of $11 billion within active fixed income across the platform. And within active global equities, the developing markets fund, a key capability that came over when we combined with Oppenheimer, continue to see net long-term inflows of $700 million during the quarter. That said, we remain focused and continue to work on areas where there's opportunity for improvement. In addition, our solutions-enabled institutional pipeline accounts for 38% of the pipeline at quarter end. Third quarter flows included net long-term inflows of $6.8 billion from Greater China. Our China business continues to be a source of strength and differentiation for Invesco. We continue to expect the Chinese investment management industry to be the fastest growing market in the world for the foreseeable future, We are an early entrant 20 years ago and we're benefiting from that commitment and investment and we expect to see continued growth in the years ahead. Before I turn the call over to Alison, who will provide more information on the China business and the results, I'd like to note that the growth we are experiencing is driving positive operating leverage, reducing adjusted operating margin of 42% for the quarter. The strong cash flow being generated from our business improved our cash position in helping build a stronger balance sheet and improving our financial flexibility for the future. Invesco's depth and breadth of capabilities and competitive strengths position us well as we look forward. We continue to focus our efforts on delivering positive outcomes for our clients while driving future growth. And with that, let me turn it over to Allison.