Invesco

Asset management fees face secular compression and rapid price discovery. Invesco’s blended fee rate has trended down with mix shifts to low-cost passive.

The firm can selectively maintain higher fees where it offers differentiated exposures (for example, equal-weight indices or certain fixed income and alternatives), but broad-based price increases risk share losses.

A notable exception is the QQQ proposal: Invesco would begin earning an 18 bp unitary fee while the fund’s total expense ratio drops from 20 to 18 bps. This is a structural monetization rather than pure pricing power, but it improves revenue resilience. Net-net we see limited pricing power offset by product‑specific exceptions.