AGF Management Continues Turn Around Efforts With Positive Results; Raising Our Fair Value Estimate
No-moat-rated AGF Management is quickly turning in one of its best yearly performances in some time as results improved yet again in the fiscal second-quarter of 2017. We are still maintaining our long-term view that the firm will face significant pressure, but after adjusting medium-term growth rates and margins, we are increasing our fair value estimate to CAD 6.30 from CAD 5.50.Organic retail flows were still negative, even as market gains helped push up total assets under management (AUM) f...
AGF Management is an integrated, global wealth management corporation whose principal subsidiaries provide investment management for mutual funds, institutions and corporations, as well as high-net-worth clients; and trust products and services (including real estate secured loans and investment loans and Guaranteed Investment Certificates). Co. conducts the management and distribution of mutual funds in Canada under the brand names AGF, Elements and Harmony (collectively, AGF Funds). Co. conducts its trust business under the name AGF Trust Company.
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.
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