Report
David Ellis
EUR 101.80 For Business Accounts Only

A strong balance sheet and strong free cash flow generation support an attractive dividend yield.

Narrow-moat AMP Ltd’s uninspiring third-quarter update is more evidence the group is moving ahead--slowly. The funds under management, or FUM, update for the September quarter did not disappoint in terms of fund flows, but it did nothing to change our view AMP continues to find a realistic growth strategy. It is becoming clear challenges facing the key Australian Wealth Management business will drag on future earnings growth. Fortunately, the underperforming Australian Wealth Protection business...
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
David Ellis

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