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Invesco's Continued Evolution Bears Watching

Several concerns mute this firm's stewardship profile.

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Morningstar recently issued a new Stewardship Grade for Invesco. The firm's overall grade--which considers corporate culture, fund board quality, fund manager incentives, fees, and regulatory history--is a C. What follows is Morningstar's analysis of the firm's corporate culture. This text, as well as analytical text on the other four Stewardship Grade criteria, is available to subscribers of Morningstar's software for advisors and institutions: Morningstar Principia®, Morningstar Advisor Workstation(SM), Morningstar Office(SM), and Morningstar Direct(SM).

Like many modern asset managers,  Invesco (IVZ) has both a complicated lineage and a set of cultural strengths and weaknesses. Many signs indicate the firm is increasingly focused on putting investors first, but the unknown effects of ongoing changes keep its corporate culture grade from standing above industry norms.

Kathryn Spica, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.