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Invesco Mortgage Capital's Management Presents At The Barclays Global Financial Services Conference - Special Call Transcript

Invesco Mortgage Capital Inc. (IVR)

Special Conference Call

September 11, 2012 8:15 am ET

Executives

John Anzalone – Chief Investment Officer

Donald Ramon – Chief Financial Officer

Analysts

No identified analysts

Presentation

Moderator

Good morning. We’re going to get started with our next speakers. From Invesco Mortgage Capital, we have John Anzalone, and Don Ramon, the CFO here today. For those of you out there, Invesco is a mortgage REIT that invests in agency and non-agency RMBS and CMBS, and a result with the bond market rally has seen some nice book value appreciation along with a strong yield over the last year.

So with that brief introduction, I’ll hand it over to John for his comments.

John Anzalone

All right, thank you. I’ll just go through a little bit about the company, then a look at the portfolio in a little bit greater detail and then some of the dynamics we’re seeing in the market today.

On Slide 2, just starting with a quick overview of the company, IVR is managed by Invesco, a large asset manager, about $659 billion in AUM. Market cap of IVR is 2.3 billion, current dividend yield at 12.7%, and total assets just over 16 billion. And as of 8/31 – these numbers are a bit stale – book value was 18.40 per share.

On Slide 3, talk a little bit about our competitive advantage. You know, one of the advantages of being part of a large asset manager is we have a large experienced team, well established investment process. We really benefit from Invesco’s platform and take full advantage of that, and that’s led to pretty strong performance over the past few years – about 67% total return over the past three years.

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