Invesco's prowess as a provider of exchange-traded funds (ETFs) and its success developing a range of solutions across asset classes for insurers in 2023 has secured it Insurance Asset Risk's Passive Manager of the Year award.

In 2023, Invesco had success in the private credit, fixed income and equity markets, developing ETFs with insurers. For example, the company's flagship ETF has 26 insurance clients in the UK, the US and Bermuda.

Invesco's commitment to innovation caught the judges' eyes this year, especially the launch of Invesco's ICLO AAA Floating Rate Note ETF, which invests in AAA rated CLO notes, a Solvency II capital-efficient asset class. This was especially noteworthy given that it is the only ETF currently on the market focused on that particular asset class.

Last year also saw Invesco selected by a Lloyds of London insurer to manage a range of fixed income ETFs in their tactical asset allocation sleeve. In the UK, Invesco was selected to manage the equity on an insurer's balance sheet through its FTSE ALL Share Climate ESG ETF, which provides low tracking error and improved climate and ESG objectives.

Some of the improvements that Invesco has made to its passive ETF offering in 2023, include enhancements to the indices that will hone tracking, making it more effective for the company's fixed income ETFs.

Invesco has also introduced securities lending on a number of its ETFs, with 90% of revenues retained within the fund for investors.