Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Invesco Ltd. (IVZ) Halal?

FAIL

Invesco Ltd. · NYSE: IVZ · Financials

The short answer

Invesco fails this screener on the business-activity gate: it is a conventional asset manager whose core revenue is fees from managing interest-based products (fixed income, money market, private credit, stable value). Its financial ratios pass individually (debt 12.1% of market cap, non-compliant income 0.85%), and Zoya's published rating concurs (not Shariah-compliant).

Gate 1 — Business activity: FAIL

Gate 1 — business activity: FAIL. Invesco Ltd., per its FY2025 Form 10-K (fiscal year ended December 31, 2025, filed February 24, 2026), is a global independent investment manager whose asset classes 'broadly defined, include equity, fixed income, balanced, alternatives and money market.' Total assets under management were $2,169.9 billion at December 31, 2025, including Fundamental Fixed Income of $311.5 billion and Global Liquidity of $189.7 billion ('comprised mainly of Money Market funds').

The 10-K's institutional capabilities include 'fixed income (including money market funds for institutional clients)' and private credit; its risk factors cite CLOs, real-estate-related loans, and commercial loans, including 'income based products inclusive of private strategies.' Critically, 'we derive substantially all of our revenues from investment management contracts,' including 'lower fees earned on fixed income, money market, stable value accounts.' Invesco is a conventional financial-services company whose core business earns fees from interest-based financial products. It fails the business-activity gate regardless of its financial ratios.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS on the numbers (12.1%, ceiling 33%), but gate 1 already fails the screen. Per Invesco's Q2 2026 condensed consolidated balance sheet (June 30, 2026), parent-company debt was $1,624.0 million ($1,825.1 million at December 31, 2025): $736.0 million revolving credit, $391.7 million of 5.375% senior notes due 2043, and a $496.3 million term loan (per Note 4, Debt). Debt of consolidated investment products ($9,007.7 million) belongs to those funds, not the parent, and is excluded.

$1.6 billion of interest-bearing debt against a market capitalization of about $13.4 billion (Finnhub $13.29 billion, October 2, 2026; MarketBeat $13.40 billion; portfolioslab $13.49 billion) is about 12.1%, under the 33% ceiling. Cash and cash equivalents were $915.4 million at June 30, 2026 (about 6.8% of market cap), with investments of $1,454.6 million reported separately.

Gate 3 — Non-compliant income: PASS

Gate 3 — non-compliant income: PASS on the numbers (0.85%, ceiling 5%), but gate 1 already fails the screen. Invesco's FY2025 Form 10-K discloses a combined 'Interest and dividend income' line of $53.9 million against operating revenues of $6,377.1 million — about 0.85%, under the 5% ceiling. The first half of 2026 showed $19.1 million against $3,570.1 million of operating revenues (0.53%).

Note: the filing discloses interest and dividend income as a combined line, not interest income alone; it is separately reported rather than buried in other gains or losses, so no skip is required. Treating the whole combined line conservatively as non-compliant income keeps the ratio well under the ceiling.

Key figures used

Frequently asked questions

What does Invesco do?

Invesco Ltd. (NYSE: IVZ) is a global independent investment manager domiciled in Bermuda. Per its FY2025 Form 10-K (fiscal year ended December 31, 2025), it offers investment management across equity, fixed income, balanced, alternatives, and money market asset classes. Total assets under management were $2,169.9 billion at December 31, 2025, including Fundamental Fixed Income of $311.5 billion and Global Liquidity of $189.7 billion (mainly money market funds). Its capabilities include fixed income, money market funds for institutional clients, and private credit, and its risk factors cite CLOs, real-estate-related loans, and commercial loans.

Is Invesco's business Shariah compliant?

Invesco's core business is conventional investment management. The 10-K states its asset classes 'broadly defined, include equity, fixed income, balanced, alternatives and money market,' and that it earns fees from managing products built on interest-bearing instruments - fixed income funds ($311.5 billion AUM), money market funds ($189.7 billion), private credit, CLOs, commercial and real-estate loans, and stable value accounts. The filing says 'we derive substantially all of our revenues from investment management contracts,' including 'lower fees earned on fixed income, money market, stable value accounts.' Because its core revenue comes from managing interest-based financial products, Invesco fails the business-activity gate of an AAOIFI-style screen, regardless of its financial ratios.

How much interest-bearing debt does Invesco have?

Invesco's parent-company interest-bearing debt was $1,624.0 million at June 30, 2026 ($1,825.1 million at December 31, 2025), per its Q2 2026 10-Q: $736.0 million of revolving credit, $391.7 million of 5.375% senior notes due 2043, and a $496.3 million term loan. Debt of consolidated investment products ($9,007.7 million) belongs to those funds, not the parent, and is excluded. $1.6 billion against a market capitalization of about $13.4 billion is about 12.1% - under the 33% ceiling - but this does not change the business-gate result.

How much interest income does Invesco earn?

Invesco's FY2025 Form 10-K discloses a combined 'Interest and dividend income' line of $53.9 million against operating revenues of $6,377.1 million - about 0.85%, under the 5% ceiling. The first half of 2026 showed $19.1 million against $3,570.1 million (0.53%). The filing does not break interest income out from dividend income; treating the whole combined line conservatively as non-compliant income, the ratio is still well under the ceiling. This gate passes financially, but the business-gate result stands.

What do third-party Shariah screeners say about Invesco?

Zoya publishes an Invesco (IVZ) page and currently rates the stock not Shariah-compliant - 'not considered halal to invest in' - under its AAOIFI guidelines, citing the same FY2025 figures ($53.9 million interest and dividend income against $6,377.1 million revenue, 0.85%), and says the rating is reviewed at least quarterly. I could not verify a Musaffa rating page for IVZ or a ShariaPortfolio rating from public sources. Third-party screeners apply different assumptions and update on different schedules, and their results can change when new financial statements are published - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).