AGF's Stake in S&W Adds to Our FVE but Doesn't Change Underlying Business
We are increasing our fair value estimate for AGF Management to CAD 7.37 per share from CAD 6.30 to account for the potential value to be derived from the company's stake in private firm Smith & Williamson.ÂS&W is an accountancy, wealth management, and tax advisory firm in the United Kingdom. It has been confirmed by multiple sources that S&W is in talks with Rathbone Brothers, a publicly traded wealth manager in the U.K., about a potential takeover. Based on the details currently a...
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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