Michael Cyprys
Morgan Stanley, Research Division

All right. We're going to go ahead and get started. Good morning, everyone. I'm Mike Cyprys, Equity Analyst covering brokers asset managers and exchanges for Morgan Stanley Research. And welcome to our fireside chat with Allison Dukes, the Chief Financial Officer at Invesco.

As you all know, Invesco is a global asset management firm with over $2.1 trillion of assets under management. The company has a significant presence in retail and institutional markets across the globe, serving clients in more than 120 countries. So Allison, thanks for making it out here to New York and joining us today.

Allison Dukes
Senior MD & CFO

Me here. Thank you.

Michael Cyprys
Morgan Stanley, Research Division

I thought we could start with the current backdrop in environment. Clearly, there's a lot of volatility, which's created, potential for meaningful shifts in asset allocation decisions. So I would be curious to hear your perspectives around what changes in client behavior have surprised you the most this year? Where do you think investors are still underpositioned? And how do you see asset owner allocations perhaps evolving?

Allison Dukes
Senior MD & CFO

Yes. Well, again, thanks for having me. We released our flows last night for the month of May. So maybe I'll start there as we think about where investor demand is and what we're seeing.

So our flows for the month of May were $19 billion of inflows that's following a very strong April, which was also $17 billion, $18 billion of inflows. So I'd say at it's just a start, demand is incredibly strong. And we