Invesco Ltd is an asset management company that manages mutual funds, ETFs and other investment products for individual and institutional investors, offering both actively managed strategies and passive index-tracking funds under multiple brand names including its PowerShares ETF lineup. As an asset manager offering both active and passive investment products, Invesco has exposure to the broader industry shift toward lower-cost passive index funds and ETFs, a trend that has pressured fee revenue for many traditional active asset managers while creating growth opportunities in its own ETF business. The company earns management fees based on the assets it oversees, meaning its revenue grows when markets rise and assets under management increase, and shrinks when markets fall or clients withdraw funds. Invesco's diversified product lineup across active and passive strategies gives it exposure to different parts of the asset management industry's ongoing shift in investor preferences between active and passive investing approaches.