Positive Flows Momentum Continues In 3Q for AGF, Although Fund Performance Falters Slightly
No-moat-rated AGF Management’s momentum continued in the fiscal third quarter of 2017 as prospects for a return to positive organic flows for its retail funds business continued to improve. Even though talks between Smith and Williamson and Rathbone Brothers have fallen apart, we still believe the stake AGF has in S&W has value as shown by the income growth of the firm, which is apportioned to AGF based on its 32.7% ownership. After updating our model with third-quarter results, we are decre...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.
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