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 statements. 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 first 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 for 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'd 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 very much, Operator, and thanks, everybody, for joining us. And it's typically what we do. I'll hit some of the highlights, Alice, and we'll get more details or results, and then we'll open up to Q&A. So I'm going to start on slide three, if you happen to be following along with the deck. Solid business momentum continued during the first three months of the year. We did have net term long-term inflows of $17.2 billion in the first quarter. This is the seventh consecutive quarter of net long-term inflows. And our annualized organic growth rate in the quarter was 6%, despite the market backdrop we were all experiencing. This is a key outcome of the broadly diversified set of capabilities we've built over the past decade. And in this volatile market environment, we continue to be extremely focused on our clients and the strength of diversification of our business enabled us continue anticipating and meeting their evolving needs in the first quarter we continue to see strong demand for our key capability areas in particular etfs and fixed income we maintain our focus on an investment in several key areas including fixed etfs fixed income factor index private markets active global equity greater china and solutions This approach has helped us generate consistent, strong, and broad organic growth rate, and we ended the quarter with $1.6 trillion in asset center management. Looking at our specific capabilities, our global ETF platform closed out a very strong quarter. ETFs generated net inflows of $19 billion in the first quarter. This includes the flagship QQQ product. We did increase market share in both ETF asset center management and revenues, and Allison is going to spend a few minutes today going more depth into the ETF platform. We continue to see clients increasing their allocation to alternative strategies as they search for diversification and higher returns. And Invesco has built a broad and competitive platform across real estate and private credit to meet these client demand needs. We are confident in our ability to accelerate growth in these capabilities. In private real estate, net long-term inflows were $300 million in the first quarter. This comprised new acquisition activities of $2.1 billion and investment realizations of $1.8 billion. In our private credit business, A robust bank loan product demand results in net long-term inflows of $3.1 billion, including the launch of two new CLOs. Our active fixed income business remains strong, generating long-term net inflows of $2.5 billion in the first quarter, including $2.2 billion from Greater China. Our active global equity business, our flagship product, including Invesco Developing Markets Fund, did see net long-term outflows of $1.5 billion due to the impact of the geopolitical environment that we are experiencing. On the institutional side, our solutions-enabled opportunities accounted for 30% of our institutional pipeline at the end of the quarter. Within greater China, our JV had net long-term inflows of $3.2 billion in the quarter, and our business in China continues to be a source of strength and diversification, and we expect continued strong growth in the years ahead while recognizing the near-term headwinds in China. The momentum in our business has generated strong cash flows, improving our cash position to the point where we resume share buybacks in the first quarter, buying back $200 million in common shares during the quarter. Our focus is building a strong balance sheet and improving our financial flexibility, put us in a position to take advantage of an economically attractive opportunity to redeem $600 million in debt that matures in November, which will now be redeemed in early May. Given the strong momentum and growth in our business, the Board has also approved a 10% increase in the quarterly dividend. And as we look forward to delivering consistent organic growth, together with our disciplined approach to expense management, which should enable us to generate attractive operating margins over the long term, while at the same time allowing us to continue investing in growth and the efficiency of our global business. Invesco's position as an investor and client-led firm differentiates us in the marketplace. Combined with the depth and breadth of our capabilities, our competitive strength, we are well-positioned to win in a dynamic operating environment. We continue to focus our efforts on delivering positive outcomes for clients while driving future growth and delivering value over the long term for our stakeholders. With that, I'll turn it over to Allison. Allison.